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UGC NET Economics

Chapter-wise Notes and MCQs

Economics (Code No. 01)

Find below Unit wise study material!

Unit 1 – Micro Economics (Click Here; 

  • Theory of Consumer Behaviour ( Notes; MCQs-1, MCQs-2 )
  • Theory of Production and Costs ( Notes; MCQs-1,  ) Decision-making under Uncertainty; Attitude toward Risk ( Notes; MCQs )
  • Game Theory – Non-Cooperative Games ( Notes; MCQs )
  • Market Structures – Competitive and Non-Competitive Equilibria and Efficiency ( Notes; MCQs )
  • Factor Pricing ( Notes; MCQs )
  • General Equilibrium Analysis (Notes; MCQs )
  • Efficiency Criteria: Pareto Optimality, Kaldor-Hicks, Wealth Maximization ( Notes; MCQs )
  • Welfare Economics: Fundamental Theorems, Social Welfare Function ( Notes; MCQs )
  • Asymmetric Information: Adverse Selection and Moral Hazard ( Notes; MCQs )

Unit 2 – Macro Economics ( Free Study Material ; MCQs )

National Income: Concepts and Measurement
Determination of Output and Employment: Classical & Keynesian Approaches
Consumption Function; Investment Function
Multiplier and Accelerator
Demand and 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 ( Free Study Material ; MCQs )

Probability Theory, Distributions,
 Moments, Central Limit Theorem
Descriptive Statistics – Central 
Tendency, Dispersion, Correlation,
 Index Numbers
Sampling Methods & Sampling 
Distribution
Statistical Inference and 
Hypothesis Testing
Linear Regression Models 
(BLUE Properties)
Identification Problem and
 Simultaneous Equation Models
Discrete Choice Models

  • Time Series Analysis

Unit 4 – Mathematical Economics

  • Sets, Functions, Continuity, Sequences and Series

  • Differential Calculus and Applications

  • Linear Algebra – Matrices and Vector Spaces

  • Static Optimization and Applications

  • Input-Output Model and Linear Programming

  • Difference and Differential Equations with Applications

Unit 5 – International Economics

  • International Trade – Concepts and Tools

  • Theories of Trade; Imperfect Competition and Trade

  • Balance of Payments – Composition, Equilibrium & Adjustment

  • Exchange Rate – Concepts and Theories; Foreign Exchange Market and Arbitrage

  • Gains from Trade, Terms of Trade, Trade Multiplier

  • Tariff & Non-Tariff Barriers; Dumping

  • GATT, WTO and Regional Trade Blocs; Trade Policy Issues

  • IMF and World Bank

Unit 6 – Public Economics

  • Market Failure & Remedies: Asymmetric Information, Public Goods, Externalities

  • Regulation of Markets, Collusion and Consumer Welfare

  • Public Revenue – Tax and Non-Tax; Direct and Indirect Taxes; Incidence & Effects

  • Public Expenditure and Public Debt

  • Budget and Budget Multiplier

  • Fiscal Policy and Implications

Unit 7 – Money and Banking

  • Components of Money Supply

  • Central Bank and Commercial Banking

  • Instruments and Working of Monetary Policy

  • Non-Bank Financial Institutions

  • Capital Market and its Regulation

Unit 8 – Growth and Development Economics

  • Economic Growth vs Economic Development

  • Theories of Development – Adam Smith, Ricardo, Marx, Schumpeter, Rostow, Balanced and Unbalanced Growth, Big Push

  • Models of Growth – Harrod-Domar, Solow, Robinson, Kaldor

  • Technical Progress – Embodied & Disembodied; Endogenous Growth

  • Indicators of Development – PQLI, HDI, SDGs

  • Poverty and Inequality – Concepts & 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

  • Population Theories

  • Fertility, Morbidity, Mortality, Age Structure, Demographic Dividend

  • Life Table and Migration

Unit 10 – Indian Economy

  • Growth Pattern and Structure of the Indian Economy

  • Agriculture, Industry and Services – Growth Patterns, Challenges and Policies

  • Rural and Urban Development – Issues and Policy Responses

  • Foreign Trade – Structure, Direction, BOP, Capital Flows and Trade Policies

  • Infrastructure Development – Physical and Social; PPP Models

  • Reforms in Land, Labour and Capital Markets

  • Centre–State Financial Relations and Finance Commissions; FRBM

  • Poverty, Inequality and Unemployment