Test Series.

NTA-UGC-NET- Economics Syllabus

"UGC-NET- Economics New Syllabus

Micro Economics

Demand analysis — Marshallian, Hicksian and Revealed preference approaches Theory of Production and Costs
Pricing and output under different forms of market structure Factor Pricing analysis
Elements of general equilibrium and new welfare economics

Macro Economics
Determination of output and employment — Classical approach, Keynesian approach, Consumption hypotheses
Demand for Money — Fisher and Cambridge versions, Approaches of Keynesian, Friedman, Patinkin, Baumol and Tobin
Supply of Money, Determinants of money supply, High-powered money, Money multiplier
Phillips Curve analysis
Business cycles — Models of Samuelson, Hicks and Kaldor. Macro-economic Equilibrium — Relative roles of monetary and fiscal policies

Growth and Development

Economic Growth, Economic Development and sustainable Development — Importance of institutions — Government and markets — Perpetuation of underdevelopment — Vicious circle of poverty, circular causation, structural view of underdevelopment — Measurement of development conventional, HDI and quality of life indices
Theories of Development —Classical, Marx and Schumpeter; Economic Growth — Harrod-Domar model, instability of equilibrium, Neoclassical growth — Solow's model, steady state growth. Approaches to development: Balanced growth, critical minimum effort, big push, unlimited supply of labour, unbalanced growth, low income equilibrium trap
Indicators and measurement of poverty
Importance of agriculture and industry in economic development — choice of techniques and appropriate technology — Investment criteria — Elementary idea of cost-benefit analysis
Trade and Aid — International trade as 'engine of growth' — Globalization and LDC's Objectives and role of monetary and fiscal policies in economic development Techniques of planning; Plan Models in India; planning in a market-oriented economy

Public Finance and International Economics

Role of the Government in Economic activity — Allocation, distribution and stabilization functions; Private, Public and Merit goods
The Public Budgets — Kinds of Budgets, Zero-base budgeting, different concepts of budget deficits; Budgets of the Union Government in India Public Expenditure —- Hypotheses; effects and evaluation
Public Revenue — Different approaches to the division of tax burden, incidence and effects of taxation; elasticity and buoyancy; taxable capacity Public Debt — Sources, effects, burden and its management
Fiscal Federalism —Theory and problems; Problems of Centre-State Financial relations in India
Fiscal Policy — Neutral and compensatory and functional finance; balanced budget multiplier
Theories of International Trade : Empirical verification and Relevance International Trade under Imperfect competition Terms of Trade and Economic Growth — Secular Deterioration of Terms of Trade Hypothesis — a critical review
Equilibrium/disequilibrium in Balance of Payment — Traditional, Absorption and Monetary approaches for adjustment in the Balance of Payments, Foreign Trade multiplier
Impact of Tariffs, Partial and general equilibrium analysis; Political economy of Non-Tariff Barriers
Theory of regionalism at Global level — Collapse of Bretton-Wood System — Recent
Monetary reforms
Trade Policy and Reforms in India

Indian Economics

Basic Economics
Basic Economic indicators — National income, performance of different sectors Trends in prices and money supply
Agriculture — Institutional and technological aspects, new agricultural policy
Industry — New industrial policy and liberalization
Money and banking — Concepts of money supply, inflation, monetary policy and financial sector reforms
Public finance — Trends in revenue and expenditures of the Central and State Governments, Public debt; analysis of theUnion Budget
Foreign trade — Trends, Balance of payments and trade reforms Poverty, unemployment, migration and environment

Quantitative Methods

Measures of Central tendency, dispersion, skewness and kurtosis
Elementary theory of probability — Binomial, Poisson and Normal distributions
Simple correlation and regression analysis
Statistical inferences—Applications, sampling distributions (t, %2 and F tests),
sampling of attributes, testing of Hypothesis
Index numbers and time series analysis
Sampling and census methods, types of sampling and errors
Application of Differential and Integral Calculus in theories of consumer behaviour, Production and pricing under different market conditions
Input-output analysis and linear programming
Application of Correlation and Regression
Testing of Hypothesis in Regression Analysis
Assumption and properties of OLS
Multiple Regression Model — Estimation and Interpretation
Multi-collinea.rity — Auto-correlation and heteroscedasticity —Causes, detection, consequences and remedy
Dummy variables, distributed lags — Need, limitations and interpretation Applications in Economics Simultaneous Equation models: Structural and reduced forms Endogenous and exogenous variables Identification problems and conditions
Single equation methods of estimations — TSLS, indirect least squares and least variance ratio
Techniques of Forecasting: .
ARMA, ARIMA
Econometric properties of time series, Unit root, integrated series, random walk and white noise