UGC NET Economics Syllabus PDF
UGC NET Paper 2 for Economics (Code 01) tests the in-depth subject knowledge of postgraduate-level economics. The syllabus is divided into 10 units, covering all core areas like Microeconomics, Macroeconomics, Statistics, Development Economics, Indian Economy, and more.
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 & Efficiency
- Factor Pricing
- General Equilibrium Analysis
- Efficiency Criteria: Pareto Optimality, Kaldor-Hicks, Wealth Maximization
- Welfare Economics: Fundamental Theorems, Social Welfare Function
- Asymmetric Information: Adverse Selection, Moral Hazard
Unit 2: Macro Economics
- National Income: Concepts and Measurement
- Output and Employment: Classical & Keynesian Approach
- Consumption Function
- Investment Function
- Multiplier and Accelerator
- Demand for Money & Supply of Money
- IS–LM Model
- Inflation and Phillips Curve Analysis
- Business Cycles
- Monetary and Fiscal Policy
- Rational Expectations Hypothesis and Its Critique
Unit 3: Statistics and Econometrics
- Probability Theory: Basic Concepts, Distributions, Moments, Central Limit Theorem
- Descriptive Statistics: Measures of Central Tendency & Dispersion, Correlation, Index Numbers
- Sampling Methods & Sampling Distribution
- Statistical Inference & Hypothesis Testing
- Linear Regression Models and Properties – BLUE
- Identification Problem
- Simultaneous Equation Models – Recursive and Non-Recursive
- Discrete Choice Models
- Time Series Analysis
Unit 4: Mathematical Economics
- Sets, Functions, Continuity, Sequences, and Series
- Differential Calculus and Applications
- Linear Algebra: Matrices, Vector Spaces
- Static Optimization and Applications
- Input-Output Model
- Linear Programming
- Difference and Differential Equations (with Applications)
Unit 5: International Economics
- Concepts & Analytical Tools in International Trade
- Theories of International Trade
- Trade under Imperfect Competition
- Balance of Payments: Composition, Equilibrium, Disequilibrium, Adjustments
- Exchange Rates: Concepts and Theories
- Foreign Exchange Market and Arbitrage
- Gains from Trade, Terms of Trade, Trade Multiplier
- Tariff & Non-Tariff Barriers, Dumping
- GATT, WTO, Regional Trade Blocks
- Trade Policy Issues
- IMF & World Bank
Unit 6: Public Economics
- Market Failure and Remedial Measures: Public Goods, Externalities, Asymmetric Information
- Market Regulation: Collusion, Consumer Welfare
- Public Revenue: Tax and Non-Tax Revenue
- Direct and Indirect Taxes, Progressive and Non-Progressive Taxation
- Tax Incidence and Effects
- 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 Banking
- Commercial Banking
- Monetary Policy: Instruments and Operations
- Non-Banking Financial Institutions (NBFIs)
- Capital Markets and Regulation
Unit 8: Growth and Development Economics
- Concepts of Economic Growth vs. Economic Development
- Classical & Modern Theories: Adam Smith, Ricardo, Marx, Schumpeter, Rostow
- Balanced and Unbalanced Growth, Big Push Theory
- Growth Models: Harrod-Domar, Solow, Robinson, Kaldor
- Technical Progress: Disembodied & Embodied, Endogenous Growth
- Indicators: HDI, PQLI, SDGs
- Poverty & Inequality: Concepts and Measurement
- Social Sector Development: Health, Education, Gender
Unit 9: Environmental Economics and Demography
- Environment as a Public Good
- Market Failures & Coase Theorem
- Cost-Benefit Analysis and Compensation Criteria
- Valuation of Environmental Goods
- Population Theories
- Fertility, Mortality, Morbidity – Concepts and Measures
- Age Structure, Demographic Dividend
- Life Tables
- Migration and Urbanization
Unit 10: Indian Economy
- Economic Growth: Patterns and Structure
- Agriculture: Growth, Challenges, Policy Interventions
- Industry: Trends, Challenges, Policy Interventions
- Services Sector: Role, Challenges, and Responses
- Rural Development: Issues, Policies
- Urban Development: Challenges, Strategies
- Foreign Trade: Composition, BOP, Capital Flows, Trade Policies
- Infrastructure: Physical & Social, PPP Models
- Reforms: Land, Labour, Capital Markets
- Centre-State Financial Relations & Finance Commissions
- FRBM Act, Poverty, Unemployment, Inequality
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