UGC NET Economics Syllabus 2023

To prepare well for the UGC NET Economics Exam, candidates must be familiar with the UGC NET Economics Syllabus 2023, which covers all the topics that will be included in the exam. Understanding the syllabus can help candidates plan and create a study schedule well in advance.

The University Grants Commission (UGC) has released the updated UGC NET Economics Syllabus on its official website. Candidates who are preparing for the Economics subject must focus on Paper 2 topics related to economics such as Microeconomics, Macroeconomics, etc. It is essential to check the UGC NET Economics Syllabus for both papers to get the desired results.

While Paper 1 is common for all candidates and checks Teaching Abilities and General Aptitude, Paper 2 examines the candidate's understanding of the specific syllabus. Therefore, it is important to go through both the papers of the UGC NET Economics Syllabus for effective preparation.

UGC NET Economics Syllabus 2023

Unit-1: Micro Economics

Theory of Consumer Behaviour
Theory of Production and Costs
Decision making under uncertainty Attitude towards Risk
Game Theory – Non-Cooperative games
Market Structures, competitive and non-competitive equilibria, and their efficiency properties
Factor Pricing
General Equilibrium Analysis
Efficiency Criteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization
Welfare Economics: Fundamental Theorems, Social Welfare Function
Asymmetric Information: Adverse Selection and Moral Hazard

Unit-2: Macro Economics

National Income: Concepts and Measurement
Determination of output and employment: Classical & Keynesian Approach
Consumption Function
Investment Function
Multiplier and Accelerator
Demand for Money
Supply of Money
IS-LM Model Approach
Inflation and Phillips Curve Analysis
Business Cycles
Monetary and Fiscal Policy
Rational Expectation Hypothesis and its critique

Unit- 3: Statistics and Econometrics

Probability Theory: Concepts of probability, Distributions, Moments, Central Limit theorem
Descriptive Statistics – Measures of Central tendency & dispersions, Correlation, Index Numbers
Sampling methods & Sampling Distribution
Statistical Inferences, Hypothesis testing
Linear Regression Models and their properties – BLUE
Identification Problem
Simultaneous Equation Models – recursive and non-recursive
Discrete choice models
Time Series Analysis

Unit-4: Mathematical Economics

Sets, functions and continuity, sequence, series
Differential Calculus and its Applications
Linear Algebra – Matrices, Vector Spaces
Static Optimization Problems and their applications
Input-Output Model, Linear Programming
Difference and Differential equations with applications

Unit-5: International Economics

International Trade: Basic concepts and analytical tools
Theories of International Trade
International Trade under imperfect competition
Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms
Exchange Rate: Concepts and Theories
Foreign Exchange Market and Arbitrage
Gains from Trade, Terms of Trade, Trade Multiplier
Tariff and Non-Tariff Barriers to trade; Dumping
GATT, WTO and Regional Trade Blocks; Trade Policy Issues
IMF & World Bank

Unit-6: Public Economics

Market Failure and Remedial Measures: Asymmetric Information, Public Goods, Externality
Regulation of Market – Collusion and Consumers’ Welfare
Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-Progressive Taxation, Incidence and Effects of Taxation
Public expenditure
Public Debt and its management
Public Budget and Budget Multiplier
Fiscal Policy and its implications

Unit-7: Money and Banking

Components of Money Supply
Central Bank
Commercial Banking
Instruments and Working of Monetary Policy
Non-banking Financial Institutions
Capital Market and it’s Regulation

Unit-8: Growth and Development Economics

Economic Growth and Economic Development
Theories of Economic Development: Adam Smith, Ricardo, Marx, Schumpeter, Rostow, Balanced & Unbalanced growth, Big Push approach.
Models of Economic Growth: Harrod-Domar, Solow, Robinson, Kaldor
Technical progress – Disembodied & embodied; endogenous growth
Indicators of Economic Development: PQLI, HDI, SDGs
Poverty and Inequalities – Concepts and Measurement
Social Sector Development: Health, Education, Gender

Unit-9: Environmental Economics and Demography

Environment as a Public Good
Market Failure
Coase Theorem
Cost-Benefit Analysis and Compensation Criteria
Valuation of Environmental Goods
Theories of Population
Concepts and Measures: Fertility, Morbidity, Mortality
Age Structure, Demographic Dividend
Life Table
Migration

Unit-10: Indian Economy

Economic Growth in India: Pattern and Structure
Agriculture: Pattern & Structure of Growth, Major Challenges, Policy Responses
Industry: Pattern & Structure of Growth, Major Challenges, Policy Responses
Services: Pattern & Structure of Growth, Major Challenges, Policy Responses
Rural Development – Issues, Challenges & Policy Responses
Urban Development – Issues, Challenges, and Policy Responses.
Foreign Trade: Structure and Direction, BOP, Flow of Foreign Capital, Trade Policies
Infrastructure Development: Physical and Social; Public-Private Partnerships
Reforms in Land, Labour and Capital Markets
Centre-State Financial Relations and Finance Commissions of India; FRBM
Poverty, Inequality & Unemployment