[nilesh]

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Can you provide me the syllabus of UGC NET (Union Grant Commission National Eligibility Test) Paper – II – Economics as I need it for preparation of the exam?

[Vishal Kotkar]

The syllabus of UGC NET (Union Grant Commission National Eligibility Test) Paper – II – Economics is as follows:

UGC NET PAPER – II

1. Micro – Economic Analysis
• 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.

2. Macro – Economic Analysis
• 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

3. Development and Planning
• 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.

4. Public Finance
• 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.

5. International Economics
• 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.

6. Indian Economy
• 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 the Union Budget.
• Foreign trade – Trends, Balance of payments and trade reforms.
• Poverty, unemployment, migration and environment.

7. Statistical 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, x2 and F tests ) sampling of attributes, testing of Hypothesis.
• Index numbers and time series analysis.
• Sampling and census methods, types of sampling and errors.