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These are old NTA NET syllabus. Click here for new 2019 syllabus

Paper 3 has been removed from NET from 2018 (Notification)- now paper 2 and 3 syllabus is
included in paper 2

NTA (UGC) NET June-December 2019 Syllabus for Economics

NTA (UGC) NET Economics Syllabus 2012

Code No: 01

Subject: Economics

Note:

There will be two Question Papers, Paper II and Paper III.

Paper II will consist of 50 questions worth 2 mark each.

Paper III will consist of 75 questions worth 2 mark each.

NTA (UGC) NET Paper II

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.

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.

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Business cycles-Models of Samuelson, Hicks and Kaldor.

Macro-economic Equilibrium-Relative roles of monetary and fiscal policies

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.

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.

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.
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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 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.

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.

NTA (UGC) NET Paper III-A Core Group

Unit-I
Theory of Demand-Axiomatic approach, Demand functions, Consumer behaviour under
conditions of uncertainty.

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Theory of production.

Collusive and non-collusive oligopolies.

Different models of objectives of the firm-Baumol, Morris and Williamson.

Factor pricing.

General equilibrium and Welfare Economics.

Unit-II
Keynesian and post-Keynesian approaches to theory of output and employment; concept of
investment multiplier; consumption hypotheses Theories of investment and accelerator.

Theories of demand for money-Keynesian and post-Keynesian.

Different approaches to money supply; money supply; components and determinants; money
multiplier.

Output-price determination (aggregate supply and aggregate demand curve analysis).

Fleming-Mundell open economy model.

Unit-III
Development and Growth-Role of institutions.

Theories of growth and development-Models of growth of Joan Robinson and Kaldor;

Technical Progress-Hicks, Harrod and learning by doing, production function approach to
the determinants of growth: Endogenous growth: Role of education, research and
knowledge-explanation of cross country differentials in economic development and growth.

Theories of development-Classical, Marx, Schumpeter and structural analysis of

development-Imperfect market paradigm, Lewis model of development, Ranis-Fei model,
Dependency theory of development.

Factors in economy development-natural resources, population, capital, Human Resource

Development and infrastructure.

Trade and development-trade as engine of growth, two-gap analysis, Prebisch, Singer and
Myrdal views; gains from trade and LDCs.

Unit-IV
Theories of taxation, types, incidence and effects.

Theories of public expenditure-effects on savings, investment and growth Burden of public

debt.

Union Finance-Trends in Revenue and Expenditure of the Government of India.

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3/15/2019----NTA (UGC) NET June December 2019 Syllabus for Economics- Translation in Hindi, Kannada, Malayalam, Marathi, Punjabi, Sindhi,
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State finance-Trends in Revenue and Expenditure of the State Governments.

Public Debt-India's Public debt since 1951-growth composition, ownership pattern and debt
management.

Union-State Financial Relations-Horizontal and vertical imbalances; the Finance

Commissions.

Fiscal Policy and Fiscal Reforms in India.

Unit-V
Monetary approach and adjustment in the balance of payments.

Regional blocs-multilateralism and world trading system.

The Political Economy of imposition of non-tariff barriers.

International trade under conditions of imperfect competition in goods market.

Theory of International reserves.

Optimum Currency Areas-Theory and impact in the developed and developing countries.

WTO and its impact on the different sectors of the economy.

Unit-VI
Components of money supply.

Role, constituents and functions of money and capital markets.

RBI-recent monetary and credit policies.

Commercial banks and co-operative banks.

Specialized financial and investment institutions.

Non-Bank financial institutions and Regional Rural Banks.

Unit-VII
Industrial structure and economic growth.

Pattern of industrialization-Public and Private; large and small industries.

Theories of Industrial location-Indian experience.

Industrial productivity-measurement, partial and total trends Industrial Finance in India.

Industrial Labour-Problems, policies and reforms in India Economic Reforms and industrial
growth.

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Unit-VIII
Population and Economic development-interrelation between population, development and
environment, sustainable development.

Malthusian theory of population, Optimum theory of population, theory of demographic

transition, population as ‘Limits to Growth’ and as ‘Ultimate Source’

Concepts of Demography-Vital rates, Life tables, composition and uses, Measurement of

fertility-Total fertility rate, gross and net reproduction rate-Age pyramids, population
projection-stable, stationary and quasi-stationary population; characteristics of Indian
population through recent census.

Poverty in India-Absolute and relative; analysis of poverty in India.

Environment as necessity-amenity and public goods; causes of environmental and ecosystem

degeneration-policies for controlling pollution-economic and persuasive; their relative
effectiveness in LDCs; Relation between population, poverty and environmental degradation-
microplanning for environment and eco-preservation-water sheds, joint forest management
and self-help groups.

Role of State in environmental preservation-Review of environmental legislation in India.

Unit-IX
Role of Agriculture in Indian Economy-Share of Agriculture, interrelationship between
agriculture and industry.

Institutional aspects-Land reforms, Green revolution.

Technological aspects-Agricultural inputs and shifts in production function.

Capital formation in the rural sector-Savings, assets and credits.

Strategies for rural development.

Regional disparities in Indian agriculture.

Cooperative movement in India-Organization, structure and development of different types

of cooperatives in India.

Unit-X
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.

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NTA (UGC) NET Paper III-B Elective or Optional

Elective-I
Single Equation Linear Model:

Assumption and properties of OLS.

Multiple Regression Model-Estimation and Interpretation.

Multi-collinearity-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.

Elective-II
Theory of Consumer Behaviour and Theory of Firms.

Theory of Pricing-Monopoly, Monopolistic competition, Duopoly and Oligopoly.

Theory of Games-Two-person, Zero-sum Game, Pure and Mixed strategy, Saddle point
solution, Linear programming and input output analysis.

Static and Dynamic Multiplier and Accelerator, Samuelson-Hicks trade cycle model.

Growth Models-Harrod and Domar, Neoclassical models-Solow, Meade, Kaldor's Model with
technological progress, endogenous growth models.

Employment and output determination with fixed and flexible prices (IS-LM, Aggregate
demand and aggregate supply analysis).

Elective-III
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The Rise and Fall of Bretton-Wood and emerging International Monetary System.

World Trading System-Evolution and Distortions.

Globalization-Developments in Exchange Markets, Euro-Currency Markets, and

International Bond Markets, International Debt crisis.

Theory of Foreign Exchange Markets-Exchange Trading, Arbitrage and Market Hedging.

Elective-IV
Growth and Productivity trends in Indian Agriculture.

Development of distributive institutions-Costs and price policies.

Agricultural marketing and credit.

Trends in migration and labour markets. Minimum Wages Act.

WTO and sustainable agricultural development.

Reforms in Indian agriculture.

Elective-V
Planning and Economic Development.

Costs, Prices, WTO and Indian Agriculture.

Globalization, Liberalization and the Indian Industrial Sector.

Infrastructure and Economic Development.

Social Sector, Poverty and Reforms in India.

Women, Environment and Economic Development.

Trade Reforms and Liberalization.

Financial sector reforms.

Fiscal policy and fiscal reforms.

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Discussions & Questions

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