2022 syllabus for paper II comprises of the subject that is a choice for the candidate. Paper II consists of 100 questions exclusively based on the subject chosen for 200 marks. The Economics subject syllabus of the UGC NET Exam is given below;
Economics / Rural Economics /Co-operation / Demography / Development Planning/ Development Studies / Econometrics/ Applied Economics/Development Eco./Business Economics
Subject: ECONOMICS Code No.: 01
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 its 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: Patter and Structure
Agriculture: Pattern & Structure of Growth, Major Challenges, Policy Responses
Industry: Pattern & Structure of Growth, Major Challenges, Policy Responses
m & 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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