NTA UGC NET ECONOMICS (Paper 2) - Complete Syllabus 2020

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

• Factor Pricing

• General Equilibrium Analysis 

• Efficiency Criteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization 

• Welfare Economics: Fundamental Theorems , Social Welfare Function

• Asymmetric Information: Adverse Selection and Moral Hazard

Unit-2 : Macro Economics 

• National Income: Concepts and Measurement

• Determination of output and employment: Classical & Keynesian Approach

• Consumption Function 

• Investment Function 

• Multiplier and Accelerator 

• Demand for Money

• Supply of Money

• IS – LM Model Approach

• Inflation and Phillips Curve Analysis

• Business Cycles

• Monetary and Fiscal Policy

• 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

• Identification Problem

• Simultaneous Equation Models – recursive and non-recursive

• Discrete choice models

• Time Series Analysis

Unit-4 : Mathematical Economics

• Sets, functions and continuity, sequence, series

• Differential Calculus and its Applications

• Linear Algebra – Matrices, Vector Spaces

• Static Optimization Problems and their applications

• Input-Output Model, Linear Programming

• Difference and Differential equations with applications

Unit-5 : International Economics

• International Trade: Basic concepts and analytical tools 

• Theories of International Trade

• International Trade under imperfect competition

• Balance of Payments: Composition, Equilibrium and Disequilibrium 

and Adjustment Mechanisms

• Exchange Rate: Concepts and Theories

• Foreign Exchange Market and Arbitrage 

• Gains from Trade, Terms of Trade, Trade Multiplier

• Tariff and Non-Tariff barriers to trade; Dumping 

• 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 

• Regulation of Market – Collusion and Consumers’ Welfare

• Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, 

Progressive and non-Progressive Taxation, Incidence and Effects of 

Taxation

• Public expenditure 

• Public Debt and its management

• Public Budget and Budget Multiplier

• Fiscal Policy and its implications

Unit-7 : Money and Banking

• Components of Money Supply

• Central Bank

• Commercial Banking

• Instruments and Working of Monetary Policy 

• Non-banking Financial Institutions

• Capital Market and its Regulation

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 

• Cost-Benefit Analysis and Compensation Criteria 

• Valuation of Environmental Goods

• Theories of Population 

• Concepts and Measures: Fertility, Morbidity, Mortality

• Age Structure, Demographic Dividend

• Life Table

• Migration 

Unit-10 : Indian Economy 

• Economic Growth in India: Pattern and Structure

• Agriculture: Pattern & Structure of Growth, Major Challenges, Policy 

Responses

• Industry: Pattern & Structure of Growth, Major Challenges, Policy 

Responses

• Services: Pattern & Structure of Growth, Major Challenges, Policy 

Responses

• Rural Development – Issues, Challenges & Policy Responses

• Urban Development – Issues, Challenges and Policy Responses. 

• Foreign Trade: Structure and Direction, BOP, Flow of Foreign 

Capital, Trade Policies

• Infrastructure Development: Physical and Social; Public-Private 

Partnerships

• Reforms in Land, Labour and Capital Markets

• Centre-State Financial Relations and Finance Commissions of India; 

FRBM

• Poverty, Inequality & Unemployment