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What is IIT JAM Exam?

JAM is conducted by IITs, on a rotational basis, to fill seats in Joint MS.-PhD, MSc-PhD dual degree, et al programmes. IISc Bangalore also fills Integrated PhD Degree programmes based on IIT-JAM score. Other than this, NITs also considered the performance in the exam for admission. The exam is held on a single day for six subjects. Earlier, the exam was held for seven subjects but IITs recently dropped biological sciences from the exam.

IIT JAM 2022 Exam is to be held on Feb 13, 2022 in an online mode. IIT JAM will be conducted for seven Papers, namely, Biotechnology, Chemistry, Economics, Geology, Mathematics, Mathematical Statistics, and Physics. Check IIT JAM Syllabus 2022.

IIT JAM 2022 will be conducted online only as a Computer Based Test (CBT) for all Test Papers. As per IIT JAM Exam Pattern, three types of questions will be asked in the paper i.e. MCQ, MSQ, and NAT questions.

IIT JAM 2022 Admit Cards has been released on January 16 in online mode. All the successfully registered candidates who have paid the application fees can download the admit cards by visiting the official website ie. Check IIT JAM 2022 Admit Card.

The authority has also released the subject wise IIT JAM mock tests on the official website. The time direction and type of questions asked in IIT JAM Mock Test are as per the pattern of the paper. Also, all the candidates can access mock tests as no login credentials are required to start the test.

IIT JAM Economics Exam Pattern & Marking Pattern

Understanding the JAM Paper Pattern is essential to prepare for the exam. This will help you know the number of questions asked in the Economics paper and the time allotted to solve these questions.

Below are the details about IIT JAM Economics Paper Pattern-

Duration of Exam3 Hours
Number of Questions60 Questions
Total Marks100 Marks
Total Sections3 Sections – A, B, & C
Type of Questions

Section A – 30 Multiple Choice Questions

Section B – 10 Multiple Select Questions

Section C – 20 Numerical type Questions

Scheme for Marking

There will be negative marking for section A

No negative marking for sections B & C.

Marking Scheme for IIT JAM Economics Exam

Below, we are sharing the IIT JAM Economics marking scheme that will make you aware of the exam paper’s difficulty level.

Section A:

This section is divided into two parts. The first part will contain 10 Multiple Choice Questions of 1 mark. There is a negative marking for every wrong answer (1/3 will be deducted for the 1-mark question).

The remaining 20 Multiple Choice Questions are of 2 marks each, and 2/3 marks will be deducted for these types of questions in case of wrong attempts.

Section B:

This section contains 10 Multiple Select Questions of 2 marks each.

There is no negative marking in this section.

Section C:

It contains 30 Numerical Answer type questions. 1 mark will be awarded for 10 Numerical Answer type questions and 2 marks for other remaining questions.

There will be no negative marking for Section C as well. 

IIT JAM Economics Books 

After knowing about the Exam Pattern and Syllabus, the next step to get good marks has the best books for preparation. Before buying any book, candidates must go through the reviews about the book. The value of good books cannot be overlooked as they provide a student with clear and understandable answers from guiding to solving problems and explaining topics in simple language, and having several problems for practice. Aspirants should only refer to the best IIT JAM Study Material to crack the IIT JAM Economics exam with good marks.

Here at Edusure, we’re working tirelessly to bring you the quality IIT JAM Economics Study Material and complete online learning materials as soon as possible. So, stay tuned with Edusure to get all the updates on the study materials.

Here are some of the most recommended IIT JAM Economics Books for your reference –

  • Micro Economics by Varian, Pindyk and Rubinfield
  • Macro Economics by Dornbusch
  • Indian Economy by Mishra & Puri
  • IIT Mathematics By Khanna and Sharma
  • Fundamentals of Mathematics & statistics by Gupta & Kapoor
  • Basic econometrics by Gujrati

IIT JAM Syllabus for Economics (EN)

IIT JAM Economics Syllabus is also divided into the various sections. Also, the paper or discipline has been added to IIT JAM from this year. Candidates can check the syllabus below:

Microeconomics Syllabus

Names of Chapters
Consumer theoryPublic goods and market failure
Production, costs with perfectly competitive marketsGame theory
General equilibrium and welfareMarket structure

Macroeconomics Syllabus

Names of Chapters
National Income AccountingGrowth Models
Behavioral and Technological Functions Inflation and Unemployment
Business Cycles and Economic ModelsBusiness Cycles and Economic Models (Open Economy)

Statistics for Economics Syllabus

Probability theory, Sample spaces and events, Axioms of probability and their properties, conditional probability and Bayes’ rule, independent events
Random variables and probability distributions, probability distributions, expected values and functions of random variables, properties of commonly used discrete and continuous distributions
Random sampling, Density and distribution functions for jointly distributed random variables, computing expected values of jointly distributed random variables, covariance and correlation coefficients
Point and interval estimation, estimation of population parameters using methods of moments and maximum likelihood procedures, properties of estimators, confidence intervals
Hypothesis testing, distributions of test statistics, testing hypotheses related to population parame- 32 ters, Type I and Type II errors, the power of a test, tests for comparing parameters from two samples

Indian Economy Syllabus

Names of Chapters
Indian economy before 1950India’s labour market
Planning and Indian developmentPoverty
Indian economy after 1991Inequalities in social development
Banking, finance and macroeconomic policies

Mathematics for Economics Syllabus

Names of Chapters
Preliminaries and Functions of one real variableIntegration, differential equations, and difference equations
Single-variable optimizationLinear programming
Linear algebraMultivariate optimization
Functions of several real variables


Names of Chapters
Basics and advanced theories
MLRM (Multi-Liner Regressions Models)
Violations of classical assumptions
Important tests and results

We here at Edusure, would suggest to not worry about the entrance test and make a note of these important tips for appearing for this exam.

  • Understand JAM and what it demands from you: It is very important to understand the exam and what is expected out of a candidate via it. To get this, the best sources is the exam pattern and syllabus of JAM 2020. There are six subjects in JAM for Biotechnology (BT), Physics (PH), Mathematical Statistics (MS), Mathematics (MA), Chemistry (CY), Geology (GG) and syllabus for each subject is very different. Candidates should check the syllabus and divide it into strong and weak topics. Since the exam is here, this is the time to make strong subjects stronger.
  • Check the updated Syllabus: Before starting your preparation, check the syllabus and note down the important topics covering a large section of the exam. Study the theoretical part first as it will take less time; then, move on to the numerical part.
  • Do the Complete Planning: Making a perfect plan is the best way to start your preparation? For that, you can create a timetable and follow it for better results. You should remember the important topics and make notes about them. These notes play a crucial role while revising the concepts. Filter out the topics you think you’re weak and plan up the strong approaches to strengthen such topics.
  • Learning less, but learn every day: JAM 2018 AIR 1, Swarnim Shirke, believed that one should keep on learning. As per him, how much you are learning is not important but the fact that you are learning something new every day is the most crucial. His focus was physics but he gave equal importance to learning Math, stats, etc. Soon he understood the application of mathematical and statistical tools in Physics and this helped him making Physics stronger.
  • Time Management: While studying, set a deadline for your topic and complete it within that pre-set time limit. If you cannot do it, then make honest efforts to increase your speed which will help you during the exam. Take breaks or short intervals in between your study hours. Another tip for a good preparation strategy is to study the difficult topics during the early hours of the day. Make sure you have got enough sleep at night for better concentration.
  • Analyze and Revise: While studying, you must analyze your weak and strong syllabus areas and work on them accordingly. Don’t forget to revise daily for at least 30–45 mins. Also, go through all the topics at least once a day. It will help you remember a lot of important concepts during exams. Note down all the formulas one by one and practice with the topics daily. Practice all the numerical part especially from micro and macroeconomics, for the mathematical part in Economics like variables and equations, try to practice all the question section wise with the formula regularly
  • Practice using Virtual Calculator: Being an IIT JAM aspirant, you must familiarize yourself with the virtual calculator. It is important to know the format of the calculator as physical calculators will not be allowed in the exam. So, it is advised that candidates practice with the IIT JAM Virtual Calculator provided for the same.
  • Give Mock Tests: Taking mock tests will enable you to have a time management strategy and prioritize the topics to be dealt with first. You should join online test series and take mock tests daily. It will give you an idea about the type of questions asked, help you analyze your level of preparation, and increase speed and accuracy. There is no better source to prepare for an examination, other than previous year question paper and mock test. So, do make sure to solve as many questions paper and mock test as one can.
  • Do not hesitate to seek help: when time is less, seeking help from an expert saves time and brings in the opportunity to learn something new. So, when stuck, do not hesitate to approach the teacher or expert.
  • Time management rule: We here at Edusure have devised a simple yet effective rule to manage your time for the time completion of your paper, it’s known as the EMD Rule or the Easy, Medium and Difficult Rule, which is applied by:
  1. Do not miss out on easy questions. 
  2. Spend 15 minutes analysing paper and sectionally divide the paper by marking the easy medium and difficult questions. 
  3. Start from easy questions and work towards the difficult ones. 
  4. Allocate 2.5 hours to solve the paper. 
  5. Take last 15 minutes to revise the paper
  • The ultimate tip: Breathe to relax. It’s just an exam!

Do take a look at a video on our Youtube channel on How to prepare for IIT JAM 2022 – Exam strategy, tips, time management, tricks, etc. 

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