STANDARD AND SYLLABUS (Overview)

The standard of papers in General English and General Studies will be such as may be expected of a graduate of an Indian University. The standard of papers in the other subjects will be that of the Master’s degree examination of an Indian University in the relevant disciplines.

Candidates will be expected to illustrate theory by facts, and to analyse problems with the help of theory. They should be particularly conversant with Indian problems in the fields of Economics / Statistics.

GENERAL ENGLISH (common to IES / ISS)

Candidates will be required to write an essay in English. Other questions will test understanding of English and practical use of words. Passages will usually be set for summary or precis.

GENERAL STUDIES (common to IES / ISS)

General knowledge including current events and matters of everyday observation and experience in their scientific aspects. The paper will include questions on Indian Polity (political system & Constitution), History of India, and Geography — of a nature answerable without special study.

GENERAL ECONOMICS – I (For IES only)

PART A

1. Theory of Consumer’s Demand — Cardinal utility, indifference curves, Slutsky theorem, duality, revealed preference, uncertainty, Nash equilibrium.
2. Theory of Production — Production functions (CD, CES, Translog), laws of returns, duality, cost functions, efficiency, equilibrium of firm & industry.
3. Theory of Value — Pricing under different markets, public sector pricing, peak load, stability analysis, moral hazard.
4. Theory of Distribution — Neo-classical theories, factor pricing, Ricardo, Marx, Kaldor, Kalecki.
5. Welfare Economics — Public goods, externalities, compensation principle, Pareto optimality, Sen, Coase.

PART B — Quantitative Methods

1. Mathematical Methods — Differentiation, integration, optimisation, matrices, linear programming, Leontief model.
2. Statistical & Econometric Methods — Correlation, regression, time series, index numbers, ANOVA, factor analysis, PCA, income distribution, regression issues.

GENERAL ECONOMICS – II (For IES only)

1. Economic Thought — Mercantilists to Monetarists.
2. National Income — Measurement, accounting, green income.
3. Employment, Output, Inflation, Money — Classical, Keynesian, IS-LM, AD-AS, monetary theories, inflation models.
4. Financial & Capital Markets — Stock market, derivatives, insurance, banking.
5. Growth & Development — Solow, Harrod-Domar, Lewis, dependency theories, Sen’s capability, HDI.
6. International Economics — Trade theories, tariffs, crises (1997, 2008, Eurozone).
7. Balance of Payments — Adjustment, foreign trade multiplier, exchange rates, Mundell-Fleming.
8. Global Institutions — UN, IMF, World Bank, WTO, G-20.

GENERAL ECONOMICS – III (For IES only)

1. Public Finance — Taxation, public expenditure, CBA, shadow pricing, public debt.
2. Environmental Economics — Sustainable development, valuation methods, policy instruments, climate agreements, carbon markets.
3. Industrial Economics — Market structure, oligopoly, pricing, innovation, policy.
4. State, Market & Planning — Planning systems, regulation, decentralised planning.

INDIAN ECONOMICS (For IES only)

1. History of Development & Planning — Import substitution, post-1991 reforms.
2. Federal Finance — Finance Commission, fiscal powers, 73rd/74th Amendments.
3. Budgeting & Fiscal Policy — FRBM, black money, deficits.
4. Poverty, Unemployment & Human Development — Indicators, inequality, population policy.
5. Agriculture & Rural Development — Land reforms, subsidies, credit, NREGA.
6. Urbanisation & Migration — Types, impact, strategies.
7. Industry — Industrial policy, MSME reservation, FDI, privatisation.
8. Labour — Employment, informal sector, labour welfare.
9. Foreign Trade — Composition, tariffs, WTO, bilateral agreements.
10. Money & Banking — Financial sector reforms, organisation of India’s money system.