UGC-NET – Paper II: Economics (Code: 01)
Exam Cycle: June 2026
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COURSE OVERVIEW
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Subject Name: Economics
Subject Code: 01
Conducting Body: National Testing Agency (NTA)
Paper Type: Paper-II – Economics
Total Marks: 200
Total Questions: 100 MCQs
Mode: Computer Based Test (CBT)
Duration: 3 Hours (Paper I + II combined)
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COMPLETE LIST OF UNITS
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Unit I: Micro Economics:
Unit II: Macro Economics.
Unit III: Statistics and Econometrics:
Unit IV: Mathematical Economics:
Unit V: International Economics:
Unit VI: Public Economics:
Unit VII: Money and Banking:
Unit VIII: Growth and Development Economics:
Unit IX: Environmental Economics and Demography:
Unit X: Indian Economy:
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UNIT-WISE DETAILED SYLLABUS
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Unit I: Micro Economics:
Topic 1: Theory of Consumer Behaviour:
• Theory of Consumer Behaviour
Topic 2: Theory of Production and Costs:
• Theory of Production and Costs
Topic 3: Decision making under uncertainty Attitude towards Risk:
• Decision making under uncertainty
• Attitude towards Risk
Topic 4: Game Theory – Non Cooperative games:
• Game Theory
• Non Cooperative games
Topic 5: Market Structures, competitive and non-competitive equilibria and their efficiency properties:
• Market Structures
• competitive equilibria
• non-competitive equilibria
• efficiency properties
Topic 6: Factor Pricing:
• Factor Pricing
Topic 7: General Equilibrium Analysis:
• General Equilibrium Analysis
Topic 8: Efficiency Criteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization:
• Efficiency Criteria
• Pareto-Optimality
• Kaldor – Hicks
• Wealth Maximization
Topic 9: Welfare Economics: Fundamental Theorems , Social Welfare Function:
• Welfare Economics
• Fundamental Theorems
• Social Welfare Function
Topic 10: Asymmetric Information: Adverse Selection and Moral Hazard:
• Asymmetric Information
• Adverse Selection
• Moral Hazard
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Unit II: Macro Economics.
Topic 1: National Income: Concepts and Measurement:
• National Income
• Concepts and Measurement
Topic 2: Determination of output and employment: Classical & Keynesian Approach:
• Determination of output and employment
• Classical Approach
• Keynesian Approach
Topic 3: Consumption Function:
• Consumption Function
Topic 4: Investment Function:
• Investment Function
Topic 5: Multiplier and Accelerator:
• Multiplier
• Accelerator
Topic 6: Demand for Money:
• Demand for Money
Topic 7: Supply of Money:
• Supply of Money
Topic 8: IS – LM Model Approach:
• IS – LM Model Approach
Topic 9: Inflation and Phillips Curve Analysis:
• Inflation
• Phillips Curve Analysis
Topic 10: Business Cycles:
• Business Cycles
Topic 11: Monetary and Fiscal Policy:
• Monetary Policy
• Fiscal Policy
Topic 12: Rational Expectation Hypothesis and its critique:
• Rational Expectation Hypothesis
• its critique
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Unit III: Statistics and Econometrics:
Topic 1: Probability Theory: Concepts of probability, Distributions, Moments, Central Limit theorem:
• Probability Theory
• Concepts of probability
• Distributions
• Moments
• Central Limit theorem
Topic 2: Descriptive Statistics – Measures of Central tendency & dispersions, Correlation, Index Numbers:
• Descriptive Statistics
• Measures of Central tendency
• Measures of dispersions
• Correlation
• Index Numbers
Topic 3: Sampling methods & Sampling Distribution:
• Sampling methods
• Sampling Distribution
Topic 4: Statistical Inferences, Hypothesis testing:
• Statistical Inferences
• Hypothesis testing
Topic 5: Linear Regression Models and their properties – BLUE:
• Linear Regression Models
• their properties
• BLUE
Topic 6: Identification Problem:
• Identification Problem
Topic 7: Simultaneous Equation Models – recursive and non-recursive:
• Simultaneous Equation Models
• recursive models
• non-recursive models
Topic 8: Discrete choice models:
• Discrete choice models
Topic 9: Time Series Analysis:
• Time Series Analysis
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Unit IV: Mathematical Economics:
Topic 1: Sets, functions and continuity, sequence, series:
• Sets
• functions and continuity
• sequence
• series
Topic 2: Differential Calculus and its Applications:
• Differential Calculus
• its Applications
Topic 3: Linear Algebra – Matrices, Vector Spaces:
• Linear Algebra
• Matrices
• Vector Spaces
Topic 4: Static Optimization Problems and their applications:
• Static Optimization Problems
• their applications
Topic 5: Input-Output Model, Linear Programming:
• Input-Output Model
• Linear Programming
Topic 6: Difference and Differential equations with applications:
• Difference equations
• Differential equations
• applications
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Unit V: International Economics:
Topic 1: International Trade: Basic concepts and analytical tools:
• International Trade
• Basic concepts
• analytical tools
Topic 2: Theories of International Trade:
• Theories of International Trade
Topic 3: International Trade under imperfect competition:
• International Trade
• imperfect competition
Topic 4: Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms:
• Balance of Payments
• Composition
• Equilibrium
• Disequilibrium
• Adjustment Mechanisms
Topic 5: Exchange Rate: Concepts and Theories:
• Exchange Rate
• Concepts
• Theories
Topic 6: Foreign Exchange Market and Arbitrage:
• Foreign Exchange Market
• Arbitrage
Topic 7: Gains from Trade, Terms of Trade, Trade Multiplier:
• Gains from Trade
• Terms of Trade
• Trade Multiplier
Topic 8: Tariff and Non-Tariff barriers to trade; Dumping:
• Tariff barriers
• Non-Tariff barriers
• Dumping
Topic 9: GATT, WTO and Regional Trade Blocks; Trade Policy Issues:
• GATT
• WTO
• Regional Trade Blocks
• Trade Policy Issues
Topic 10: IMF & World Bank:
• IMF
• World Bank
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Unit VI: Public Economics:
Topic 1: Market Failure and Remedial Measures: Asymmetric Information, Public Goods, Externality:
• Market Failure
• Remedial Measures
• Asymmetric Information
• Public Goods
• Externality
Topic 2: Regulation of Market – Collusion and Consumers’ Welfare:
• Regulation of Market
• Collusion
• Consumers’ Welfare
Topic 3: Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-Progressive Taxation, Incidence and Effects of Taxation:
• Public Revenue
• Tax Revenue
• Non-Tax Revenue
• Direct Taxes
• Indirect Taxes
• Progressive Taxation
• non-Progressive Taxation
• Incidence of Taxation
• Effects of Taxation
Topic 4: Public expenditure:
• Public expenditure
Topic 5: Public Debt and its management:
• Public Debt
• its management
Topic 6: Public Budget and Budget Multiplier:
• Public Budget
• Budget Multiplier
Topic 7: Fiscal Policy and its implications:
• Fiscal Policy
• its implications
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Unit VII: Money and Banking:
Topic 1: Components of Money Supply:
• Components of Money Supply
Topic 2: Central Bank:
• Central Bank
Topic 3: Commercial Banking:
• Commercial Banking
Topic 4: Instruments and Working of Monetary Policy:
• Instruments of Monetary Policy
• Working of Monetary Policy
Topic 5: Non-banking Financial Institutions:
• Non-banking Financial Institutions
Topic 6: Capital Market and its Regulation:
• Capital Market
• its Regulation
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Unit VIII: Growth and Development Economics:
Topic 1: Economic Growth and Economic Development:
• Economic Growth
• Economic Development
Topic 2: Theories of Economic Development: Adam Smith, Ricardo, Marx, Schumpeter, Rostow, Balanced & Unbalanced growth, Big Push approach.:
• Theories of Economic Development
• Adam Smith
• Ricardo
• Marx
• Schumpeter
• Rostow
• Balanced growth
• Unbalanced growth
• Big Push approach
Topic 3: Models of Economic Growth: Harrod-Domar, Solow, Robinson, Kaldor:
• Models of Economic Growth
• Harrod-Domar model
• Solow model
• Robinson model
• Kaldor model
Topic 4: Technical progress – Disembodied & embodied; endogenous growth:
• Technical progress
• Disembodied technical progress
• embodied technical progress
• endogenous growth
Topic 5: Indicators of Economic Development: PQLI, HDI, SDGs:
• Indicators of Economic Development
• PQLI
• HDI
• SDGs
Topic 6: Poverty and Inequalities – Concepts and Measurement:
• Poverty
• Inequalities
• Concepts
• Measurement
Topic 7: Social Sector Development: Health, Education, Gender:
• Social Sector Development
• Health
• Education
• Gender
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Unit IX: Environmental Economics and Demography:
Topic 1: Environment as a Public Good:
• Environment as a Public Good
Topic 2: Market Failure:
• Market Failure
Topic 3: Coase Theorem:
• Coase Theorem
Topic 4: Cost-Benefit Analysis and Compensation Criteria:
• Cost-Benefit Analysis
• Compensation Criteria
Topic 5: Valuation of Environmental Goods:
• Valuation of Environmental Goods
Topic 6: Theories of Population:
• Theories of Population
Topic 7: Concepts and Measures: Fertility, Morbidity, Mortality:
• Concepts and Measures
• Fertility
• Morbidity
• Mortality
Topic 8: Age Structure, Demographic Dividend:
• Age Structure
• Demographic Dividend
Topic 9: Life Table:
• Life Table
Topic 10: Migration:
• Migration
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Unit X: Indian Economy:
Topic 1: Economic Growth in India: Pattern and Structure:
• Economic Growth in India
• Pattern
• Structure
Topic 2: Agriculture: Pattern & Structure of Growth, Major Challenges, Policy Responses:
• Agriculture
• Pattern of Growth
• Structure of Growth
• Major Challenges
• Policy Responses
Topic 3: Industry: Pattern & Structure of Growth, Major Challenges, Policy Responses:
• Industry
• Pattern of Growth
• Structure of Growth
• Major Challenges
• Policy Responses
Topic 4: Services: Pattern & Structure of Growth, Major Challenges, Policy Responses:
• Services
• Pattern of Growth
• Structure of Growth
• Major Challenges
• Policy Responses
Topic 5: Rural Development – Issues, Challenges & Policy Responses:
• Rural Development
• Issues
• Challenges
• Policy Responses
Topic 6: Urban Development – Issues, Challenges and Policy Responses.:
• Urban Development
• Issues
• Challenges
• Policy Responses
Topic 7: Foreign Trade: Structure and Direction, BOP, Flow of Foreign Capital, Trade Policies:
• Foreign Trade
• Structure
• Direction
• BOP
• Flow of Foreign Capital
• Trade Policies
Topic 8: Infrastructure Development: Physical and Social; Public-Private Partnerships:
• Infrastructure Development
• Physical Infrastructure
• Social Infrastructure
• Public-Private Partnerships
Topic 9: Reforms in Land, Labour and Capital Markets:
• Reforms
• Land Markets
• Labour Markets
• Capital Markets
Topic 10: Centre-State Financial Relations and Finance Commissions of India; FRBM:
• Centre-State Financial Relations
• Finance Commissions of India
• FRBM
Topic 11: Poverty, Inequality & Unemployment:
• Poverty
• Inequality
• Unemployment
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EXAMINATION STRUCTURE
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Paper-II: Subject Specific Examination
- Total Questions: 100
- Total Marks: 200
- Question Type: Multiple Choice Questions (MCQ)
- Negative Marking: No
- Duration: 3 Hours (Combined with Paper I)
- Mode: Computer Based Test (CBT)
Additional Notes (if any):
- [No additional notes in source]
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SYLLABUS SUMMARY
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Total Units: 10
Total Topics: 89
Subject: Economics
Subject Code: 01
Exam Category: UGC-NET Paper-II
Source: Official NTA/UGC Syllabus
Status: “As per latest official syllabus”
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