GROUP-10 Statistic and Economics
GROUP-10 Statistic and Economics
2) Computer terminology, Fundamentals, word software, excel software, Power point, internet, web
browsing, Communication, emails, downloading and uploading data on websites etc. –
(Weightage 10%)
3) Subject related syllabus- (Weightage 70%)
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MICROECONOMICS
Economics: Definition, Nature, Scope, The Economic Problem: Scarcity and Choice, Functions of an
Economic System, Law of Demand, Elasticity of Demand: Concept, Types, Measurement, Determinants
and Importance, Concept of Utility, Cardinal Utility Analysis,Law of Equi- Marginal Utility, Law of
Diminishing Marginal Utility, Derivation of Demand Curve, Ordinal Utility Analysis, Indifference Curves
Analysis, Consumer Equilibrium, Price, Income and Substitution Effects, Consumer Surplus, Production
Function & Product Curves, Law of Variable Proportions, Iso-quants & Iso-cost Lines, Returns to Scale,
Economies & Diseconomies of Scale Internal & External, Supply Curve & Elasticity of Supply, Cost
Analysis: Concepts of Cost, Short Period Costs, Long Period Costs, Modern Theory of Costs, Revenue:
Total, Average and Marginal Revenue, Break Even Analysis and its Uses, Market Structures- Concepts,
Perfect Competition: Characteristics and Assumptions, Price Determination Under Perfect
Competition,Equilibrium of the firm in the short period and the long period, Monopoly: Characteristics,
Equilibrium of the Monopoly Firm in Short period and Long period, Concept of Supply Curve under
Monopoly, Price Discrimination, Monopolistic Competition: Characteristics, Selling Costs ,Product
Differentiation, Short period and long period Equilibrium of the Firm, concept & Characteristic of
Oligopoly, Marginal Productivity Theory of Distribution, Ricardian Theory of Rent, Theories of Interest;
Classical and Neoclassical, Marginal Productivity Theory of Wages.
MACROECONOMICS
Nature and Scope of Macro Economics, Difference between Micro and Macro Economics, Importance of
Macro Economics, Concepts, Measurement and limitations of National Income Statistics, Circular flow of
Income in Two, Three and Four Sector Economy, Say’s law of Market, Classical Theory of Income and
Employment, Keynesian Theory of Income and Employment, Principle of Effective Demand, Comparison
between Classical and Keynesian Theory, Consumption Function: Meaning and Technical Attributes,
Significance of MPC, Keynesian Psychological Law of Consumption and its Implications, Short run & Long
run Consumption Curves, Meaning of Capital and Investment, Types of Investment, Marginal Efficiency
of Capital (MEC), Relation between MEC and MEI, Factors affecting Inducement to Invest, Keynesian
Multiplier: Concepts, Relation between Multiplier, MPC and MPS, Comparative Static and Dynamic
Process, Working of Multiplier in UDC‘S, . Acceleration Principle and Concept of Super Multiplier, The
Demand for Money: Concepts, Functions and Significance, Quantity Theory of Money -Fisher’s Approach
and Cambridge Approach, Keynesian Liquidity Theory of Money, Supply of Money: Meaning and
Determinants, High Powered Money and Money Multipliers, Meaning, Causes and Effects of Inflation,
Types of Inflation, The Classical Theory of Inflation, Demand Pull and Cost Push Inflation, Phillips Curve
in Short run and Long run, Meaning, Nature and Features of Business Cycles, Types and Phases of
Business Cycles, Keynes View of Trade Cycles, Theories of Trade Cycles (Hicks and Samuelson), Rate of
Interest: Classical and Keynesian Theories of Interest.
INDIAN ECONOMY
Capitalist, Socialist & Mixed economy, Developed and Developing Economy –Concepts, Basic
Characteristics of Indian Economy as a Developing Economy, Comparison of Indian Economy with
Developed Economies, Major Issues of Development in India, Population, Theory of Demographic
Transition, Size and Growth of Population, Features of Indian Population, Causes of Growing Population,
High Birth Rate and Decreasing Death Rate, Problems of Over Population, Measures for Population
Control, Population Policy 2005 onward, Poverty and Unemployment, Meaning and Concepts of Poverty,
Poverty line- Need of Redefining, Measurement of Poverty, Causes of Poverty, Measures of Eradication
of Poverty, Unemployment – Nature, Types, Causes & Measures, Agriculture, Place of Agriculture in
Indian economy, Agricultural Productivity – Causes of Low Productivity & Measures, Green Revolution-
Achievements & Failures, Sources of Agricultural Finance, Agricultural Marketing – Defects & Measures,
Special Economic Zone- Concept, Features, Problems, Industry, Role of Industrialization, Industrial Policy
– 1991onwards, New Economic Reforms – Concepts, Liberalization, Privatization, Globalization, MSME,
Small and Large Scale Industry – Growth and Problems, Growth of Knowledge Based Industry – IT,
Software Consultancy, Labour, Meaning and Classification of Labour, Characteristics of Industrial
Labour, Industrial Disputes Causes, Measures for Settlement, Social Security Measures in India, Planning,
Meaning, Concepts, Need and Objectives, Types of Planning, Merits and Demerits, Objectives,
Achievements, and Failures of Five Year Plans, Objectives of NITI Aayog, External Sector, Trends and
Composition of India’s Imports, Trends and Direction of India’s Exports, EXIM Policy of India in relation
to Trade Liberalization and its Impacts, FDI, FII and MNCs in India, External Borrowings and BOP Problem
in India, International Institutions (IMF, WB, ADB, WTO) and the Indian Economy
INTERNATIONAL ECONOMICS
Importance of the Study of International Economics, Inter-Regional and International Trade, Theories of
Absolute Advantage, Comparative Advantage and Opportunity Costs, Heckscher-Ohlin Theory of Trade,
Doctrine of Reciprocal Demand (Meaning, Importance and Limitations), Trade as an Engine of Economic
Growth, Terms of Trade (Meaning and Measurement), Secular Deterioration Hypothesis, Concepts and
Components of Balance of Payments, Causes and Consequences of Dis-equilibrium in the Balance of
Payments, The Process of Adjustment in the Balance of Payments Under Gold Standard, Fixed Exchange
Rate Systems, Functions and Achievements of WTO, Impact of WTO on Industry, Agriculture and
Services Sectors of Indian Economy
ECONOMICS OF DEVELOPMENT
PUBLIC FINANCE
Meaning and Scope of Public Finance, Public Finance- Meaning and Scope, Public and Private Finance,
Principle of Maximum Social Advantage, Public Goods, Private Goods, Mixed Goods and Merit Goods
(Concept Only), Public Expenditure, Meaning and Importance, Reasons for the Growth of Public
Expenditure, Wagner’s Hypothesis, Peacock – Wiseman Hypothesis, Canons of Public Expenditure,
Effects of Public Expenditure, Public Revenue, Sources of Public revenue, Taxes – Classification of Taxes,
Canons of Taxation, Ability to Pay and Benefit Approach, Incidence and Shifting of Tax Burden, Major
Taxes in India, The Concept of Goods and Service Tax (GST), Public Debt and Budget, Meaning, Types of
Public Debt, Debt Redemption, Meaning & Types of Budget, Revenue Deficit, Fiscal Deficit, Primary
Deficit, Budget Deficit, Fiscal Policy, Deficit Financing
Important Note: The Weightage as mentioned against the syllabus is tentative & may vary.