UGC NET Syllabus for Paper II – Complete Syllabus for Economics

Published on : 29th January 2019    Author : Tanvi Mittal
UGC NET Exam

University Grants Commission National Eligibility Test for the year 2019 will be conducted in the month of June, as per a notification released by the National Testing Agency. The agency has successfully conducted the UGC NET exam in December 2018 through the computer-based mode for the first time. The exam is conducted at the national level for post-graduate students to qualify for becoming eligible for the post of Assistant Professor and the award of Junior Research Fellowship.

Till the year 2018, the Central Board of Secondary Education (CBSE) used to conduct the UGC NET exam through pen-and-paper mode. The last UGC NET exam conducted by CBSE was on 8th July 2018.

The exam is conducted for two papers – Paper-I and Paper-II. Paper-I is common for all and tests the candidates on their teaching and research ability while Paper-II is subject-specific. Candidates are advised to choose their post-graduation subject for Paper-II.

UGC has also updated the syllabus (to be applicable from June 2019) for the exam. The article covers the updated syllabus for Economics (subject code 01) which is covered under Paper II.

UGC NET Syllabus for Economics (Paper-II)

Exam Name: UGC NET

Subject Code: 01

Subject Name: Economics / Econometrics / Rural Economics / Co-operation / Development Planning / Development Studies / Development Economics / Demography / Applied Economics / Business Economics

Download NTA UGC NET Exam 2019 Syllabus: All Subjects

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
  • General Equilibrium Analysis
  • Factor Pricing
  • Efficiency Criteria: Pareto-Optimality, Kaldor –Hicks and Wealth Maximization
  • Asymmetric Information: Adverse Selection and Moral Hazard
  • Welfare Economics: Fundamental Theorems, Social Welfare Function

Unit-2: Macro Economics

  • Determination of output and employment: Classical & Keynesian Approach
  • National Income: Concepts and Measurement
  • Consumption Function
  • Investment Function
  • Multiplier and Accelerator
  • Demand for Money
  • Supply of Money
  • IS-LM Model Approach
  • Inflation and Phillips Curve Analysis
  • Monetary and Fiscal Policy
  • Business Cycles
  • 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
  • Simultaneous Equation Models – recursive and non-recursive
  • Identification Problem
  • Discrete choice models
  • Time Series Analysis

Unit-4: Mathematical Economics

  • Linear Algebra –Matrices, Vector Spaces
  • Input-Output Model, Linear Programming
  • Sets, functions and continuity, sequence, series
  • Differential Calculus and its Applications
  • Static Optimization Problems and their applications
  • Difference and Differential equations with applications

Unit-5: International Economics

  • International Trade: Basic concepts and analytical tools
  • Theories of International Trade
  • Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms
  • International Trade under imperfect competition
  • Exchange Rate: Concepts and Theories
  • Foreign Exchange Market and Arbitrage
  • Tariff and Non-Tariff barriers to trade; Dumping
  • Gains from Trade, Terms of Trade, Trade Multiplier
  • 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
  • Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-Progressive Taxation, Incidence and Effects of Taxation
  • Regulation of Market – Collusion and Consumers’ Welfare
  • Public Budget and Budget Multiplier
  • Fiscal Policy and its implications
  • Public expenditure
  • Public Debt and its management

Unit-7: Money and Banking

  • Central Bank
  • Commercial Banking
  • Components of Money Supply
  • Instruments and Working of Monetary Policy
  • Capital Market and its Regulation
  • Non-banking Financial Institutions

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
  • Theories of Population
  • Concepts and Measures: Fertility, Morbidity, Mortality
  • Age Structure, Demographic Dividend
  • Cost-Benefit Analysis and Compensation Criteria
  • Valuation of Environmental Goods
  • Migration
  • Life Table

Unit-10: Indian Economy

  • Economic Growth in India: Pattern and Structure
  • Agriculture: Pattern & Structure of Growth, Major Challenges, Policy Responses
  • Services: Pattern & Structure of Growth, Major Challenges, Policy Responses
  • Industry: Pattern & Structure of Growth, Major Challenges, Policy Responses
  • Urban Development –Issues, Challenges and Policy Responses
  • Rural Development –Issues, Challenges & Policy Responses
  • Infrastructure Development: Physical and Social; Public-Private Partnerships
  • Foreign Trade: Structure and Direction, BOP, Flow of Foreign Capital, Trade Policies
  • Centre-State Financial Relations and Finance Commissions of India; FRBM
  • Reforms in Land, Labour and Capital Markets
  • Poverty, Inequality & Unemployment


About the Author: Tanvi Mittal

Former content manager at one of the country’s leading dailies, Tanvi Mittal specialises in academic writing. With two decades of experience and expertise in writing, she is the spearhead of Exams Planner’s content team. Commitment to brilliance and dedication to writing, strategizing and doing extensive research are her biggest passions. With only objective to provide high quality and researched based content, Tanvi constantly thrives to make a difference with her knowledge.

When not working for the betterment of students, she loves to cook and dance. Also, a great orator, Tanvi has participated in several international conferences. She has got her writings published in many journals and penned numerous short stories for kids.



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