CUET PG Economics COQP10
Preparations

Microeconomics

• Consumer Theory or Behaviour: 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 and production; overall efficiency and welfare economics, externality

 

Macroeconomics

• National Income Accounting 

• Income and Output Determination: Aggregate Demand and Aggregate Supply, Effective Demand Principle, Classical and Keynesian Theory

 

Statistics

• Mean, Mode, Median, Dispersion, Skewness, Quartile Deviation, Average Deviation, Standard Deviation 

• Correlation 

• Simple Regression Model Probability Distribution Sampling​

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Indian 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-industrialisation debate; evolution of entrepreneurial and industrial structure; nature of industrialisation in the interwar period; constraints to industrial breakthrough; labour 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 New Trade Theories

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Mathematics Methods in Economics

• Sets and Vector 

• Functions of one and several real variable Single and Multi variable optimization Integration of functions 

• Difference equations

• Determinants Matrix 

• Linear Programming Probability 

• Differential Equations

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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 fixed investment; residential investment and inventory investment, Multiplier and Accelerator 

• Open Economy Models: Mundell and Fleming Model (IS, LM and BP curve) , Balance of Payments, exchange rate determination, Purchasing Power Parity 

• Economic Growth: Harrod-Domar Model, Solow Model

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