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.
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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).
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Syllabus for GATE Economics Paper (XH-C1)
- 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
- 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.
- 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.
- 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.
- 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.
- 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
- 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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