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Economics – Optional (Preliminary Examination)
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Part-I
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General Economics
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1)
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Micro-economics
:
(a) Production : Agents of Production; Costs and Supply; Isoquants
(b) Consumption and Demand; Elasticity concept (c) Market Structure and
concepts of equilibrium; (d) Determination of prices; (e) Components and
Theories of Distribution (f) Elementary concepts of Welfare economics :
Pareto-optimality-Private and social products-consumers surplus.
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2)
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Macro-economics
: (a) National Income concepts; (b) Determinants of National Income
Employment (c) Determinants of consumption, savings and Investment (d)
Rate of Interest and its determination (e) Interest and profit.
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3)
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Money,
Banking and Public Finance : (a) Concepts of Money and measures of
money supply; velocity of money (b) Banks and credit creation; Banks and
portfolio management. (c) Central Bank and control over money supply (d)
Determination of the price level. (e) Inflation, its causes and remedies.
(f) Public, Finance-Budgets-Taxes and non-tax revenues-Types of Budget
deficits.
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4)
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International
Economics :
(a) Theories of International Trade-comparative costs-Heckscher-Ohlin-Gains
from Trade-Terms of Trade.
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(b) Free Trade and Protection.
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(c) Balance of Payments accounts and
Adjustment.
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(d) Exchange rate under free exchange
markets.
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(e)
Evolution of the International Monetary System and World Trading
order-Gold Standard-the Brettonwoods system.
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IMF and the World Bank and their
associates.
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Floating rates-GATT and WTO
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5)
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Growth
and Development : (a) Meaning and measurement of growth; Growth,
distribution and Welfare; (b) Characteristics of underdevelopment; (c)
Stages of Development; (d) Sources of growth-capital, Human capital,
population, productivity, Trade and aid, non-economic factors; growth
Strategies, (e) Planning in a mixed economy-Indicative planning-Planning
and growth.
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6)
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Economic
Statistics : Types of averages-measures of
dispersion-correlation-Index numbers; types, uses and limitations.
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Part-II
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Indian Economics
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1.
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Main
features; Geographic size-Endowment of natural resources, Population;
size, composition quality and growth trend-Occupational
distribution-Effects of British Rule with reference to Drain theory and
Laissez Faire policy.
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2.
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Major
problems, their dimensions, nature and broad causes; Mass
poverty-Unemployment and its types-Economics effects of population
pressure-Inequality and types thereof-Low productivity and low per capita
income, Rural-urban disparities-Foreign Trade and payments imbalances.
Balance of Payments and External Debt- Inflation, and parallel economy and
its effects-Fiscal deficit.
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3.
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Growth in
income and employment since Independence-Rate, Pattern, Sectoral
trends-Distributional Changes-Regional disparities.
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4.
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Economic
Planning in
India
: Major controversies on planning in India-Alternative strategies-goals
and achievements, shortfalls of different plans-planning and the Market.
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5.
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Broad
Fiscal, monetary, industrial trade and agricultural policies-objectives,
rationale, constraints and effects.
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