GATE Coaching : IIT GATE 2025 Masters in Economics Entrance Details

EduSure is India’s top GATE coaching Institute, register with us for a FREE trial class now for the upcoming IIT GATE 2025 Entrance Exam for your Masters in Economics.

The GATE 2025 Economics exam which will be organised by IIT Roorkee is a prestigious and difficult entrance exam for graduates looking to pursue doctoral courses in Economics or land high-profile employment in academia, research, and industry. We shall be sharing all the information – important dates, syllabus and other things about the exam in this post.

Eligibility Requirements for IIT GATE 2025 - Get the Best GATE Coaching Online

Candidates who are currently studying in the 3rd or higher years of any undergraduate degree program or who have completed any government approved degree program in Engineering/ Technology/ Architecture/ Science/ Commerce/ Arts/ Humanities are eligible to appear for GATE 2025.

Looking for IIT GATE coaching for Masters in Economics Entrances? You are in the RIGHT place! Click here and reach out to us now.

Documents required for GATE 2025 Online Application - Get the Best GATE Coaching Online

High quality image of candidate’s photograph
High quality image of candidate’s signature
Scanned copy of Category (SC/ST) certificate in pdf format (if applicable).
Scanned copy of PwD Certificate in pdf format (if applicable).
Scanned copy of Certificate of Dyslexia in pdf format (if applicable).
Scanned copy of valid photo Identity document: Aadhar-UID (preferable)/ Passport/ PAN Card/ Voter ID/ Driving License.
The photo ID must have Name, Date of birth of the candidate and a unique photo ID number. This photo ID must be carried in the original to the examination hall for verification.

Key Dates for GATE 2025

The exams are to be held on 1st February, 2025, 2nd February 2025, 15th February, 2025 and 16th February, 2025 (dates are liable to change).

Don’t miss out on becoming the RANK 1! Get the right IIT GATE coaching for your preparation. Click here and take your first step.

Syllabus for GATE Economics Paper (XH-C1)

Microeconomics

Theory of Consumer Behaviour: Cardinal Approach and Ordinal Approach
Consumer Preferences; Nature of the utility function
Marshallian and Hicksian demand functions
Duality Theorem
Slutsky equation and Comparative Statics
Homogeneous and Homothetic Utility Functions
Euler’s Theorem
The Theory of Revealed Preference: Weak Axiom of Revealed Preference and Strong Axiom of Revealed Preference
Theory of Production and Costs: Short-run and Long-run Analysis
Existence, Uniqueness and Stability of Market Equilibrium: Walrasian and Marshallian Stability Analysis
The Cobweb Model, Decision making under uncertainty and risk
Asymmetric Information: Adverse Selection and Moral Hazard
Theory of Agency costs
The Theory of Search, Non-Cooperative games: Constant sum game, Mixed Strategy & Pure Strategy, Bayesian Nash Equilibrium, SPNE, Perfect Bayesian Equilibria
Theory of Firm: Market Structures — Competitive and Non-competitive equilibria and their efficiency properties
Structure-Conduct-Performance Paradigm
Factor Pricing: Marginal productivity Theory of Distribution in Perfectly Competitive markets
Theory of Employment in Imperfectly Competitive Markets — Monopolistic Exploitation, General Equilibrium Analysis
Welfare Economics: Fundamental Theorems, Social Welfare Function
Efficiency Criteria: Pareto Optimality

Macroeconomics

National Income Accounting: Closed Economy Concepts and Measurement and Open Economy Issues
Determination of output and employment: Classical & Keynesian Framework
Theories of Consumption: Absolute Income Hypothesis, Relative Income Hypothesis, Life Cycle Hypothesis, Permanent Income Hypothesis and Robert Hall’s Random Walk Model
Investment Function Specifications – Dale Jorgenson’s Neoclassical Theory of Capital Accumulation and Tobin’s
Keynesian Stabilisation Policies
(Autonomous) Multipliers and Investment Accelerator
Demand and Supply of Money, Components of Money Supply, Liquidity Preference and Liquidity Trap, Money Multiplier, Interest Rate determination
Central Banking, Objectives, Instruments (Direct and Indirect) of Monetary Policy, Prudential Regulation, Quantitative Easing (Unconventional Monetary Policy), Commercial Banking, Non-Banking Financial Institutions
Capital Market and its Regulation
Theories of Inflation and Expectations Augmented Phillips Curve, Real Business Cycles, Adaptive Expectations Hypothesis, Rational Expectation Hypothesis and its critique
Closed Economy IS – LM Model
Mundell Fleming Model: Monetary and Fiscal Policy Efficacy
The Impossible Trinity.

Statistics, Econometrics and Mathematical Economics

Probability Theory: Concepts of probability, Probability Distributions [Discrete and Continuous], Central Limit Theorem, Index Numbers and Construction of Price Indices, Sampling Methods & Sampling Distribution, Statistical Inferences, Hypothesis Testing, Linear Regression Models and the Gauss Markov Theorem, Heteroscedasticity, Multicollinearity and Autocorrelation, Spurious regressions and Unit roots
Simultaneous Equation Models – recursive and non-recursive
Identification Problem, Differential Calculus and its Applications
Linear Algebra – Matrices, Applications of Cramer’s Rule, Static Optimization Problems and Applications, Input-Output Model, Linear Programming, Difference equations and Differential equations with applications.

International Economics

Theories of International Trade, International Trade under Imperfect Competition, Gains from Trade, Terms of Trade, Trade Multiplier, Tariff and NonTariff barriers to trade
Dumping and Anti-Dumping Policies, GATT, WTO and Regional Trade Blocs
Trade Policy Issues, Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms, Foreign Exchange Market and Arbitrage, Exchange rate determination, IMF & World Bank.

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
Tax Incidence
Fiscal Policy and its implications
Environment as a Public Good
Market Failure and Coase Theorem, Cost-Benefit Analysis.

Development Economics

Theories of Economic Development: Adam Smith, David Ricardo, Karl Marx, J. Schumpeter, W. Rostow
Balanced & Unbalanced Growth, Big Push Approach
Indicators of Economic Development: HDI, SDGs, MDGs
Poverty and Inequalities – Concepts and Measurement Issues
Social Sector Development: Health, Education, Gender, Fertility, Morbidity, Mortality, Migration, Child Labor, Age Structure, Demographic Dividend
Models of Economic Growth: Harrod-Domar, Solow, Ramsey
Technical progress – Disembodied & Embodied, Endogenous Growth Models

Indian Economy

Economic Growth in India: Pattern and Structure, Agriculture
Industry & Services Sector: Pattern & Structure of Growth, Major Challenges, Policy Responses
Rural & Urban Development – Issues, Challenges & Policy Responses
Flow of Foreign Capital, Trade Policies, Infrastructure Development: Physical and Social
Public-Private Partnerships, Reforms in Land, Labour and Capital Markets, Poverty, Inequality & Unemployment
Functioning of Monetary Policy in India
Fiscal Policy in the Indian context: Structure of Receipts and Expenditure
Tax reforms-Goods and Services Tax, Issues of Growth and Equity, Fiscal Federalism
Centre-State Financial Relations and Finance Commissions of India
Sustainability of Deficits and Debt
The Fiscal Responsibility and Budget Management Act 2003
Demonetization and aftermath
India’s balance of payments
Composition of India’s Trade, Competitiveness of India’s exports, India’s exchange rate policy.

For more details, please visit the official GATE 2025 website: https://gate2025.iitr.ac.in/

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