Economics Syllabus... 2013

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Paper – I :

1. Microeconomic Theory

2. Macroeconomic Theory

3. International Trade Theory

4. Public Finance

5. Statistics and Econometrics


1. Microeconomic Theory

i. Consumer Theory
ii. Production and cost- returns to scale, short run and long run costs
iii. Market Structure-Perfect competition, Monopoly, Monopolistic Competition, Oligopoly
iv. General Equilibrium and Welfare (optimality of perfect competition)
v. Marginal Productivity Theory of Distribution


2. Macroeconomic Theory

i. National Income Accounting
ii. Economy in the long run, economy in the short run, Fiscal and Monetary policy using IS-LM, Growth Theory—Harrod-Domar Model, Solow Model, Endogenous Growth.


3. International Trade Theory

i. Classical — Ricardo, Neoclassical – Hecksher- Ohlin
ii. Imperfect competition and trade , Intra-industry trade
iii. Trade Policy—Tariff, Quota
iv. Current and Capital Account in Balance of Payments, Fixed and Flexible exchange rate systems
v. Open economy macroeconomics — Mundell-Fleming model


4. Public Finance

a. Theory of externality and market failure
b. Public Goods and Role of the Public Sector
c. Budget — Different concepts
d. Tax—indirect and direct, VAT, subsidy and transfers
e. Public debt and its burden


5. Statistics & Econometrics

1. Measures of Central Tendency & Dispersion
2. Theory of Probability
3. Sampling Theory
4. Inference
5. Econometrics—Classical Linear Regression Model



Paper – II :

1. Development

2. The Indian Economy

(a) Pre-independence period
(b) Post-independence pre-liberalisation period
(c) Post-liberalisation period
(d) The West Bengal Economy


1. Development

(a) Process of development
Lewis Model Harris Todaro Model Demographic change and occupational transformation
(b) Trade and Development
Trade as an engine of growth
(c) Planning vs. Market Model of Development
Poverty and Inequality
(d) Capability and Human Development including issues of Gender
(e) Environment and development

2. The Indian Economy

(a) Pre-independence
Land system
Commercialisation of agriculture
Deindustrialisation
Drain Theory
Development of Indian Railways

(b) Post-independence
Planning models and experience till Seventh Plan
Change in composition of national income—Agriculture, Industry & Services.
Agriculture—Green Revolution
Industry—Role of Public Sector

(c) Post-Liberalisation
Changing role of Planning (from centralised to indicative, participatory and decentralised planning.)
Salient features of NEP
Progress in Reforms—1st and 2nd generation Reforms
Role of WTO & IMF
Monetary and Fiscal Policies
Poverty and inequality

(d) The West Bengal Economy-A historical perspective
i. Brief economic history of the colonial period.
ii. Economic & demographic consequences of Partition.
iii. Evolution of Land and Tenancy Reforms (1950-1980) and its economic consequence
iv. Changing composition of SDP
v. Social development indicators-health, education, environment
vi. West Bengal: in relation to other major States of India.