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U.P. Higher Education Services Commission, Allahabad/md.

(Subject Code-43)

The syllabus contain total seven units. At least 7 questions are to be from each unit.

Unit-1: MicroEconomic Analysis
Demand Analysis Marshallian, Hicksian and Revealed preference approaches.
Theory of Production and Costs.
Pricing and output under different forms of market structure.
Factor Pricing analysis.
General equilibrium and welfare economics.
Different models of objectives of the firm Baumol, Marris and Williamson.

Unit-2: MacroEconomic Analysis
Determination of output and employment Classical approach, Keynesian &
post Keynesian approach, Consumption hypotheses.
Demand for Money Fisher and Cambridge versions, Approaches of
Keynesian, Friedman, Patinkin, Baumol and Tobin.
Supply of Money, Determinants of money supply, High powered money,
Money multiplier.
Phillips Curve analysis.
Fleming Maundell open economy model
Business cycles Models of Samuelson, Hicks and Kaldor.
Macro economic Equilibrium Relative roles of monetary and fiscal policies

Unit-3: Development and Planning
Economic Growth, Economic Development and sustainable Development
Importance of institutions Government and markets Perpetuation of
underdevelopment Vicious circle of poverty, circular causation, structural
view of underdevelopment Measurement of development conventional, HDI
and quality of life indices.
Theories of Development Classical, Marx and Schumpeter; Economic Growth
Harrod Domar model, instability of equilibrium, Neoclassical growth
Solows model, steady state growth. Approaches to development : Balanced
growth, critical minimum effort, big push, unlimited supply of labour,
unbalanced growth, low income equilibrium trap.
Importance of agriculture and industry in economic development choice of
techniques and appropriate technology Investment criteria Elementary idea
of cost benefit analysis.
Trade and Aid International trade as engine of growth Globalization and
LDCs Objectives and role of monetary and fiscal policies in economic
development Techniques of planning; Plan Models in India; planning in a
market oriented economy.

Unit-4: Public Finance
Role of the Government in Economic activity Allocation, distribution and
stabilization functions; Private, Public and Merit goods.
The Public Budgets Kinds of Budgets, Zero base budgeting, different
concepts of budget deficits; Budgets of the Union Government in India Public
Expenditure Hypotheses; effects and evaluation.
U.P. Higher Education Services Commission, Allahabad/md.raj/Syllabus/Economics
Public Revenue Different approaches to the division of tax burden, incidence
and effects of taxation; elasticity and buoyancy; taxable capacity Public Debt
Sources, effects, burden and its management.
Fiscal Federalism Theory and problems; Problems of Centre State Financial
relations in India, Finance Commission
Fiscal Policy Neutral and compensatory and functional finance; balanced
budget multiplier.

Unit-5: International Economics
Theories of International Trade : Empirical verification and Relevance
International Trade under Imperfect competition Terms of Trade and Economic
Growth Deterioration of Terms of Trade Hypothesis a critical review.
Equilibrium / disequilibrium in Balance of Payment Traditional, Absorption
and Monetary approaches for adjustment in the Balance of Payments, Foreign
Trade multiplier.
Impact of Tariffs, Partial and general equilibrium analysis; Political economy of
Non-Tariff Barriers.
Theory of regionalism at Global level Collapse of Bretton Wood System
Monetary reforms. WTO

Unit-6: Indian Economy
Basic Economic indicators National income, performance of different sectors
Trends in prices and money supply.
Agriculture Institutional and technological aspects, new agricultural policy
Industry New industrial policy and liberalization.
Money and banking Concepts of money supply, inflation, monetary policy and
financial sector reforms.
Foreign trade Trends, Balance of payments and trade reforms, Foreign
exchange rate reforms.
Poverty, unemployment, migration and environment
Characteristics of Indias population through recent census.

Unit-7: Statistical Methods
Measures of Central tendency, dispersion, skewness and kurtosis.
Elementary theory of probability Binomial, Poisson and Normal distributions.
Simple correlation and regression analysis.
Statistical inferences Applications, sampling distributions (t, x
and F tests )
sampling of attributes, testing of Hypothesis.
Index numbers and time series analysis.
Sampling and census methods, types of sampling and errors.
U.P. Higher Education Services Commission, Allahabad/md.raj/Syllabus/Economics
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