Microeconomics

Consumer Theory:

Demand, Utility, Indifference Curve, Revealed Preference Theory, Consumer Surplus. Production Theory: Production Function, Law of Variable Proportions, Returns to Scale, Cost Function.

Price and Output Determination in Markets:

Perfect and Imperfect Competition, Monopoly, Price Discrimination, Monopolistic, Duopoly, and Oligopoly models, General Equilibrium, Efficiency, and Welfare.

Macroeconomics:

National Income Accounting. Income and Output Determination: Aggregate Demand and Aggregate Supply, Effective Demand Principle, Classical and Keynesian Theory.

Money and Inflation:

Supply  and Demand of Money, Money Multiplier, Credit Creation, Role of Reserve Bank of India, Quantitative Theories of Money, Philip’s Curve, Monetary and Fiscal Policy of India.

Consumption and Investment Function:

Permanent, Relative, and Life Cycle Hypothesis, Multiplier and Accelerator.

Open Economy Models:

Mundell and Fleming Model, Balance of Payments, Exchange Rate Determination, Purchasing Power Parity.

Economic Growth:

Harrod-Domar Model, Solow Model.

Statistical Methods in Economics:

Mean, Mode, Median, Dispersion, Skewness, Quartile Deviation, Average Deviation, Standard Deviation. Correlation.

Mathematical Methods in Economics:

Sets and Vectors. 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, Agriculture, Railways, and Industry, Economy and State in the Imperial Context.

New Economic Policy.

Public Economics: Public and Private Goods, Externalities, Budget, Deficits, Public Debt, Fiscal Federalism in India, Taxation.

International Trade Theories: Adam Smith, Ricardo, Heckscher-Ohlin model, and New Trade Theories.

A more detailed syllabus has been included in our Blogs.