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
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