Unit-1 : Micro Economics

 1.      Theory of Consumer Behaviour

 2.      Theory of Production and Costs

 3.      Decision making under uncertainty Attitude towards Risk

 4.      Game Theory – Non Cooperative games

 5.      Market Structures, competitive and non-competitive equilibria and their efficiency properties

 6.      Factor Pricing

 7.      General Equilibrium Analysis

 8.      Efficiency Criteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization

 9.      Welfare Economics: Fundamental Theorems , Social Welfare Function

10. Asymmetric Information: Adverse Selection and Moral Hazard




Unit-2 : Macro Economics

 1.      National Income: Concepts and Measurement

 2.      Determination of output and employment: Classical & Keynesian Approach

 3.      Consumption Function

 4.      Investment Function

 5.      Multiplier and Accelerator

 6.      Demand for Money

 7.      Supply of Money

 8.      IS – LM Model Approach

 9.      Inflation and Phillips Curve Analysis

 10. Business Cycles

 11. Monetary and Fiscal Policy

 12. Rational Expectation Hypothesis and its critique




Unit- 3 : Statistics and Econometrics

 1.      Probability Theory: Concepts of probability, Distributions, Moments, Central Limit theorem

 2.      Descriptive Statistics – Measures of Central tendency & dispersions, Correlation, Index Numbers

 3.      Sampling methods & Sampling Distribution

 4.      Statistical Inferences, Hypothesis testing

 5.      Linear Regression Models and their properties – BLUE

 6.      Identification Problem

 7.      Simultaneous Equation Models – recursive and non-recursive

 8.      Discrete choice models

 9.      Time Series Analysis



Unit-4 : Mathematical Economics

 1.      Sets, functions and continuity, sequence, series

 2.      Differential Calculus and its Applications

 3.      Linear Algebra – Matrices, Vector Spaces

 4.      Static Optimization Problems and their applications

 5.      Input-Output Model, Linear Programming

 6.      Difference and Differential equations with applications



Unit-5 : International Economics

 1.      International Trade: Basic concepts and analytical tools

 2.      Theories of International Trade

 3.      International Trade under imperfect competition

 4.      Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms

 5.      Exchange Rate: Concepts and Theories

 6.      Foreign Exchange Market and Arbitrage

 7.      Gains from Trade, Terms of Trade, Trade Multiplier

 8.      Tariff and Non-Tariff barriers to trade; Dumping

 9.      GATT, WTO and Regional Trade Blocks; Trade Policy Issues

 10. IMF & World Bank



 Unit-6 : Public Economics

 1.      Market Failure and Remedial Measures: Asymmetric Information, Public Goods, Externality

 2.      Regulation of Market – Collusion and Consumers’ Welfare

 3.      Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-Progressive Taxation, Incidence and Effects of Taxation

 4.      Public expenditure

 5.      Public Debt and its management

 6.      Public Budget and Budget Multiplier

 7.      Fiscal Policy and its implications



 Unit-7 : Money and Banking

 1.      Components of Money Supply

 2.      Central Bank

 3.      Commercial Banking

 4.      Instruments and Working of Monetary Policy

 5.      Non-banking Financial Institutions

 6.      Capital Market and its Regulation



Unit-8 : Growth and Development Economics

 1.      Economic Growth and Economic Development

 2.      Theories of Economic Development: Adam Smith, Ricardo, Marx, Schumpeter,

 3.      Rostow, Balanced & Unbalanced growth, Big Push approach.

 4.      Models of Economic Growth: Harrod-Domar, Solow, Robinson, Kaldor

 5.      Technical progress – Disembodied & embodied; endogenous growth

 6.      Indicators of Economic Development: PQLI, HDI, SDGs

 7.      Poverty and Inequalities – Concepts and Measurement

 8.      Social Sector Development: Health, Education, Gender



Unit-9 : Environmental Economics and Demography

1.      Environment as a Public Good

2.      Market Failure

3.      Coase Theorem

4.      Cost-Benefit Analysis and Compensation Criteria

5.      Valuation of Environmental Goods

6.      Theories of Population

7.      Concepts and Measures: Fertility, Morbidity, Mortality

8.      Age Structure, Demographic Dividend

9.      Life Table

10. Migration




Unit-10 : Indian Economy

1.      Economic Growth in India: Pattern and Structure

2.      Agriculture: Pattern & Structure of Growth, Major Challenges, Policy Responses

3.      Industry: Pattern & Structure of Growth, Major Challenges, Policy Responses

4.      Services: Pattern & Structure of Growth, Major Challenges, Policy Responses

5.      Rural Development – Issues, Challenges & Policy Responses

6.      Urban Development – Issues, Challenges and Policy Responses.

7.      Foreign Trade: Structure and Direction, BOP, Flow of Foreign Capital, Trade Policies

8.      Infrastructure Development: Physical and Social; Public-Private Partnerships

9.      Reforms in Land, Labour and Capital Markets

10. Centre-State Financial Relations and Finance Commissions of India; FRBM

11. Poverty, Inequality & Unemployment







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