UGC NET Economics Syllabus

Here you can check the latest UGC NET Syllabus for Economics 2021-22 for English Medium.

NET Economics Micro-Economic Analysis Unit-1: Micro Economics 

• Theory of Consumer Behavior
• 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

UGC NET Syllabus Economics 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

UGC NET Economics Exam Pattern 2021-22

UGC NET Economics Exam has two papers, Paper-I and Paper-II.

• Both the papers will consist of objective-type, multiple-choice questions. 
• For each correct response, aspirants will get 2 marks.
• There is no negative marking for an incorrect response.
• No marks will be given for questions Unanswered/ Marked for Review.
• If a question is found to be incorrect/ambiguous during the key challenge, only those candidates who have attempted the question and chosen one of the correct answers would be given the credit. Only for dropped question(s), if any, marks will be given to all aspirants.

UGC NET Economics Exam Pattern

Here you can take a look at the major highlights of UGC NET Economics Exam Pattern 2021-2022.