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UPSC Syllabus for IAS Preliminary & Mains- Economics exam 2018

Civil Service Exam Syllabus (Preliminary & Mains) – Economics

Civil Service Exam Syllabus (Preliminary) – Economics

Part-I

General Economics

1) 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.

2) 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.

3) 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.

4) International Economics :

  1. Theories of International Trade-comparative costs-Heckscher-Ohlin-Gains from Trade-Terms of Trade.
  2. Free Trade and Protection.
  3. Balance of Payments accounts and Adjustment.
  4. Exchange rate under free exchange markets.
  5. Evolution of the International Monetary System and World Trading order-Gold Standard-the Brettonwoods system.

IMF and the World Bank and their associates.

Floating rates-GATT and WTO

(5) 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.

(6) Economic Statistics : Types of averages-measures of dispersion-correlation-Index numbers; types, uses and limitations.

Part-II

Indian Economics

1. 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.

2. 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.

3. Growth in income and employment since Independence-Rate, Pattern, Sectoral trends-Distributional Changes-Regional disparities.

4. Economic Planning in India : Major controversies on planning in India-Alternative strategies-goals and achievements, shortfalls of different plans-planning and the Market.

5. Broad Fiscal, monetary, industrial trade and agricultural policies-objectives, rationale, constraints and effects.

Civil Service Exam Syllabus for IAS Main Exam – Economics – Paper –I & II

Paper-I

1. Advanced Micro Economics:

  1. Marshallian and Walrasiam Approaches to Price determination.
  2. Alternative Distribution Theories: Ricardo, Kaldor, Kaleeki
  3. Markets Structure: Monopolistic Competition, Duopoly, Oligopoly.
  4. Modern Welfare Criteria: Pareto Hicks & Scitovsky, Arrow’s Impossibility Theorem, A.K. Sen’s Social Welfare Function.

2. Advanced Macro Economics:

Approaches to Employment Income and Interest Rate determination: Classical, Keynes (IS-LM) curve, Neo classical synthesis and New classical, Theories of Interest Rate determination and Interest Rate Structure.

3. Money – Banking and Finance:

  1. Demand for and Supply of Money: Money Multiplier Quantity Theory of Money (Fisher, Pique and Friedman) and Keyne’s Theory on Demand for Money, Goals and Instruments of Monetary Management in Closed and Open Economies. Relation between the Central Bank and the Treasury. Proposal for ceiling on growth rate of money.
  2. Public Finance and its Role in Market Economy: In stabilization of supply, allocation of resources and in distribution and development. Sources of Govt. revenue, forms of Taxes and Subsidies, their incidence and effects. Limits to taxation, loans, crowding-out effects and limits to borrowings. Public Expenditure and its effects.

4. International Economics:

  1. Old and New Theories of International Trade
    1. Comparative Advantage
    2. Terms of Trade and Offer Curve.
    3. Product Cycle and Strategic Trade Theories.
    4. Trade as an engine of growth” and theories of under development in an open economy.
  2. Forms of Protection: Tariff and quota.
  3. Balance of Payments Adjustments: Alternative Approaches.
  1. Price versus income, income adjustments under fixed exchange rates,
  2. Theories of Policy Mix
  3. Exchange rate adjustments under capital mobility
  4. Floating Rates and their Implications for Developing Countries: Currency Boards.
  5. Trade Policy and Developing Countries.
  6. BOP, adjustments and Policy Coordination in open economy macro-model.
  7. Speculative attacks
  8. Trade Blocks and Monetary Unions.
  9. WTO: TRIMS, TRIPS, Domestic Measures, Different Rounds of WTO talks.

5. Growth and Development:

(a)

  1. Theories of growth: Harrod’s model,
  2. Lewis model of development with surplus labour
  3. Balanced and Unbalanced growth,
  4. Human Capital and Economic Growth.
  5. Research and Development and Economic Growth

(b) Process of Economic Development of Less developed countries: Myrdal and Kuzments on economic development and structural change: Role of Agriculture in Economic Development of less developed countries.

(c) Economic development and International Trade and Investment, Role of Multinationals.

(d) Planning and Economic Development: changing role of Markets and Planning, Private- Public Partnership

(e) Welfare indicators and measures of growth – Human Development Indices. The basic needs approach.

(f) Development and Environmental Sustainability – Renewable and Non Renewable Resources, Environmental Degradation, Intergenerational equity development.

Paper-II

1. Indian Economy in Pre-Independence Era:

Land System and its changes, Commercialization of agriculture, Drain theory, Laissez faire theory and critique. Manufacture and Transport: Jute, Cotton, Railways, Money and Credit.

2. Indian Economy after Independence:

A. The Pre Liberalization Era:

  1. Contribution of Vakil, Gadgil and V.K.R.V. Rao.
  2. Agriculture: Land Reforms and land tenure system, Green Revolution and capital formation in agriculture,
  3. Industry Trends in composition and growth, Role of public and private sector, Small scale and cottage industries.
  1. National and Per capita income: patterns, trends, aggregate and Sectoral composition and changes their in.
  2. Broad factors determining National Income and distribution, Measures of poverty, Trends in poverty and inequality.

B. The Post Liberalization Era:

  1. New Economic Reform and Agriculture: Agriculture and WTO, Food processing, Subsidies, Agricultural prices and public distribution system, Impact of public expenditure on agricultural growth.
  2. New Economic Policy and Industry: Strategy of industrialization, Privatization, Disinvestments, Role of foreign direct investment and multinationals.
  3. New Economic Policy and Trade: Intellectual property rights: Implications of TRIPS, TRIMS, GATS and new EXIM policy.
  4. New Exchange Rate Regime: Partial and full convertibility, Capital account convertibility.
  5. New Economic Policy and Public Finance: Fiscal Responsibility Act, Twelfth Finance Commission and Fiscal Federalism and Fiscal Consolidation.
  6. New Economic Policy and Monetary system. Role of RBI under the new regime.
  7. Planning: From central Planning to indicative planning, Relation between planning and markets for growth and decentralized planning: 73rd and 74th Constitutional amendments.
  8. New Economic Policy and Employment: Employment and poverty, Rural wages, Employment Generation, Poverty alleviation schemes, New Rural, Employment Guarantee Scheme.

>>> UPSC Syllabus Index

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2 Responses to “UPSC Syllabus for IAS Preliminary & Mains- Economics exam 2018”

  1. RAHUL SHARMA says:

    Sir/Madam,

    please send entire syllabus of economics either preliminary and mains to my email id . I shall be very thankful for u

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