Economics (COQP10) Syllabus PDF

Economics (COQP10) ) Syllabus for Economics (COQP10) 1  Economics (COQP10) Note: i. The Question Paper which will have 75 questions. ii. All questions will be based on Subject-Specific Knowledge....

Economics (COQP10) ) Syllabus for Economics (COQP10) 1  Economics (COQP10) Note: i. The Question Paper which will have 75 questions. ii. All questions will be based on Subject-Specific Knowledge. iii. All questions are compulsory. iv. The Questions will be Bilingual (English/Hindi). Economics (COQP10) Micro Economics:  Consumer Theory or Behavior: Demand, Utility, Indifference Curve, Revealed Preference Theory, Consumer Surplus  Production Theory: Production Function, Law of Variable Proportions, Returns to Scale, Cost Function, types and concepts  Price and Output determination in Market: Perfect and Imperfect Competition (Monopoly, Price Discrimination, Monopolistic, Duopoly and Oligopoly models) General Equilibrium, Efficiency and Welfare: Equilibrium and efficiency under pure exchange andproduction; overall efficiency and welfare economics, externality Macro Economics:  National Income Accounting  Income and Output Determination: Aggregate Demand and Aggregate Supply, Effective Demand Principle, Classical and Keynesian Theory Money and Inflation:  Demand and Supply of Money, Money Multiplier and High-Powered Money, Credit Creation, Role of Reserve Bank of India and Commercial Banks, Quantitative Theories of Money, Philip’s Curve  Monetary and Fiscal Policy of India and its role. Consumption and Investment Function:  Permanent, Relative and Life Cycle Hypothesis, determinants of business fixedinvestment; residential investment and inventory investment, Multiplier and Accelerator  Open Economy Models: Mundell and Fleming Model (IS, LM and BP curve) , Balance ofPayments, exchange rate determination, Purchasing Power Parity  Economic Growth: Harrod-Domra Model, Solow Model Statistical Methods in Economics:  Mean, Mode, Median, Dispersion, Skewness, Quartile Deviation, Average Deviation, Standard Deviation  Correlation  Simple Regression Model Probability Distribution Sampling 2  Economics (COQP10) ) Mathematical Methods in Economics:  Sets and Vector  Functions of one and several real variables Single and Multi-variable optimization  Integration of functions  Difference equations  Determinants Matrix  Linear Programming Probability  Differential Equations Indian Economy: Overview of colonial economy:  Macro Trends: National Income; population; occupational structure.  Agriculture: Agrarian structure and land relations; agricultural markets and institutions – credit, commerce and technology; trends in performance and productivity; famines. Railways and Industry: Railways; the de-industrialization debate; evolution of entrepreneurial and industrial structure; nature of industrialization in the interwar period; constraints to industrial breakthrough; labor relations.  Economy and State in the Imperial Context  The imperial priorities and the Indian economy; drain of wealth; international trade, capital.  Flows and the colonial economy – changes and continuities; government and fiscal policy.  New Economic Policy:  Public Economics: Public and Private Goods, Externalities, Budget, Deficits, Public Debt, Fiscal Federalism in India,  Taxation: its economic effects; dead weight loss and distortion, efficiency and equity considerations, tax incidence, optimal taxation.  International Trade Theories: Adam Smith, Ricardo, Heckscher-Ohlin model and NewTrade Theories 3