Economics

le: 2025
Exam Type: Pen-and-Paper (OMR Based)
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COURSE OVERVIEW
Exam Name: Lecturer (10+2) Economics
Conducting Authority: Jammu and Kashmir Public Services Commission (JKPSC)
Level: Competitive
Examination Type: MCQs
No. of Questions: 100 MCQs
Total Marks: 100 Marks
Duration: 2 Hours
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LIST OF UNITS (Verbatim)
Unit I: Microeconomics.
Unit II: Macroeconomics:
Unit III: Growth and Development Economics:
Unit IV: International Economics:
Unit V: Monetary and Financial Economics:
Unit VI: Indian Economy:
Unit VII: Agriculture and Industrial Economics:
Unit VIII: Public Economics:
Unit IX: Elementary statistics:
Unit X: Basic Econometrics and Mathematics for Economics:
Unit XI: Environmental Economics
Unit XII: J&K Economy
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UNIT-WISE DETAILED SYLLABUS (Verbatim)

Unit I: Microeconomics.

Topic 1: Theory of consumer behaviour – Indifference curve Analysis; Revealed preference theory; Income and substitution effect;
Subtopics:
○ Indifference curve Analysis
○ Revealed preference theory
○ Income and substitution effect
Topic 2: Theory of production- Cobb Douglas and CES Production function; Law of Returns to scale; Law of variable proportions; Technical progress; Producer’s Equilibrium; least cost Combination of Inputs; Maximization of Outputs;
Subtopics:
○ Cobb Douglas and CES Production function
○ Law of Returns to scale
○ Law of variable proportions
○ Technical progress
○ Producer’s Equilibrium
○ least cost Combination of Inputs
○ Maximization of Outputs
Topic 3: Theory of costs- Traditional and modern theory of costs:
Subtopics:
○ Traditional and modern theory of costs
Topic 4: Market- Prefect competition; Equilibrium of a competitive firm in the short and long run; Monopoly; Price discrimination of various degrees; Monopolistic Competition; Duopoly and oligopoly – Cornout and Bertrand models; Collusive & Non collusive Oligopoly;
Subtopics:
○ Prefect competition
○ Equilibrium of a competitive firm in the short and long run
○ Monopoly
○ Price discrimination of various degrees
○ Monopolistic Competition
○ Duopoly and oligopoly – Cornout and Bertrand models
○ Collusive & Non collusive Oligopoly
Topic 5: Game theory – Nash Equilibrium; Prisoners’ Dilemma;
Subtopics:
○ Nash Equilibrium
○ Prisoners’ Dilemma
Topic 6: Welfare Economics- Pareto optimality; Arrow’s impossibility theorem.
Subtopics:
○ Pareto optimality
○ Arrow’s impossibility theorem
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Unit II: Macroeconomics:

Topic 1: National income accounting- National income identities;
Subtopics:
○ National income identities
Topic 2: Theory of output and employment- Classical; Keynesian, Monetarists and New – Classical models;
Subtopics:
○ Classical
○ Keynesian, Monetarists and New – Classical models
Topic 3: IS-LM model for Closed and Open Economy – Fiscal and monetary policy effectiveness;
Subtopics:
○ Fiscal and monetary policy effectiveness
Topic 4: Consumption Function- Relative; Permanent and life cycle theories;
Subtopics:
○ Relative
○ Permanent and life cycle theories
Topic 5: Investment Function – The marginal efficiency of capital and Tobins Q theory ;
Subtopics:
○ The marginal efficiency of capital and Tobins Q theory
Topic 6: Investment Multiplier – ; Multiplier and accelerator interaction.
Subtopics:
○ Multiplier and accelerator interaction
Topic 7: Business cycles – Hicks and Samuelson model;
Subtopics:
○ Hicks and Samuelson model
Topic 8: Phillips Curve and its Various Incarnations.
Subtopics:
○ its Various Incarnations
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Unit III: Growth and Development Economics:

Topic 1: Characteristics of underdeveloped countries;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 2: Concept and measurement of poverty and inequality;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 3: Human Development index; PQLI.
Subtopics:
○ Human Development index
○ PQLI
Topic 4: Growth: concepts and determinants; Harrod-Domar model; Neo-classical models of Solow; Romer model of growth.
Subtopics:
○ concepts and determinants
○ Harrod-Domar model
○ Neo-classical models of Solow
○ Romer model of growth
Topic 5: Balanced and Unbalanced growth Strategies; Critical minimum Effort thesis; low level equilibrium trap; organizational dualism and economic development; The model of complementarities between agriculture and industry; Harris -Todaro model of migration.
Subtopics:
○ Balanced and Unbalanced growth Strategies
○ Critical minimum Effort thesis
○ low level equilibrium trap
○ organizational dualism and economic development
○ The model of complementarities between agriculture and industry
○ Harris -Todaro model of migration
Topic 6: Sustainable Development Goals.
Subtopics:
○ [Subtopics not explicitly listed]
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Unit IV: International Economics:

Topic 1: Theory of comparative cost; Adam Smith; Ricardo and Mill; Gains from trade;
Subtopics:
○ Adam Smith
○ Ricardo and Mill
○ Gains from trade
Topic 2: Heckscher – Ohlin Theory and its empirical verification; Rybczynski Theorem; The Stolper – Samuelson
Theorem; Factor-Price Equalization Theorem;
Subtopics:
○ its empirical verification
○ Rybczynski Theorem
○ The Stolper – Samuelson
Theorem
○ Factor-Price Equalization Theorem
Topic 3: Terms of Trade – Hypotheses of Secular
Deterioration in Terms of Trade; Concept of Immiserizing Growth;
Subtopics:
○ Hypotheses of Secular
Deterioration in Terms of Trade
○ Concept of Immiserizing Growth
Topic 4: Tariffs; Quotas and Non-
Tariff Barriers; Theory of Optimum Tariff;
Subtopics:
○ Tariffs
○ Quotas and Non-
Tariff Barriers
○ Theory of Optimum Tariff
Topic 5: Theory of custom unions- Trade creation and
trade diversion;
Subtopics:
○ Trade creation and
trade diversion
Topic 6: Exchange rate determination; arbitrage; exchange risk — hedging and
speculation; Foreign exchange transactions— spot; forward and swap.
Subtopics:
○ arbitrage
○ exchange risk — hedging and
speculation
○ Foreign exchange transactions— spot; forward and swap
Topic 7: Balance of
payments—meaning and components;
Subtopics:
○ meaning and components
Topic 8: Fixed and flexible Exchange Rate Regimes.
Subtopics:
○ [Subtopics not explicitly listed]
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Unit V: Monetary and Financial Economics:

Topic 1: Money— types and functions;
Subtopics:
○ types and functions
Topic 2: Money supply- Determinants and H- theory of money supply;
Subtopics:
○ Determinants and H- theory of money supply
Topic 3: Commercial bank and credit creation mechanism;
Subtopics:
○ credit creation mechanism
Topic 4: Central bank— Functions and measures to
control money supply;
Subtopics:
○ Functions and measures to
control money supply
Topic 5: Demand for money— Classical; Keynesian , inventory and Portfolio
balance approach;
Subtopics:
○ Classical
○ Keynesian , inventory and Portfolio
balance approach
Topic 6: Theories of Interest— Classical; Loanable funds and Neo-Keynesian.
Subtopics:
○ Classical
○ Loanable funds and Neo-Keynesian
Topic 7: Financial system — Structure and classification of financial markets; instruments of money
and capital markets;
Subtopics:
○ Structure and classification of financial markets
○ instruments of money
and capital markets
Topic 8: Non-Banking Financial intermediaries;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 9: Theories of term structure of
Interest Rate— Expectation Theory; Market segmentation theory; Preferred Habitat Theory.
Subtopics:
○ Expectation Theory
○ Market segmentation theory
○ Preferred Habitat Theory
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Unit VI: Indian Economy:

Topic 1: Major features of the Indian economy at independence;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 2: Growth and development under
different policy regimes; structural change;
Subtopics:
○ different policy regimes
○ structural change
Topic 3: New agricultural strategy — Land Reforms;
Green Revolution;
Subtopics:
○ Land Reforms
○ Green Revolution
Topic 4: Rationale and practice of Economic planning in India; NITI Ayog & its
functions; Inclusive Growth;
Subtopics:
○ Rationale and practice of Economic planning in India
○ NITI Ayog & its
functions
○ Inclusive Growth
Topic 5: New Economic Reforms— Liberalisation; Privatisation and
Globalisation; New Economic Policies.
Subtopics:
○ Liberalisation
○ Privatisation and
Globalisation
○ New Economic Policies
Topic 6: Foreign Trade — Direction and Composition;
Subtopics:
○ Direction and Composition
Topic 7: Fiscal
Federalism in India; Centre – State financial relations;
Subtopics:
○ Centre – State financial relations
Topic 8: Fiscal & Monetary Policy.
Subtopics:
○ [Subtopics not explicitly listed]
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Unit VII: Agriculture and Industrial Economics:

Topic 1: Interdependence between agriculture and industry;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 2: Models of interaction—Lewis; Ranis-Fei
model;
Subtopics:
○ Lewis
○ Ranis-Fei
model
Topic 3: Agricultural finance — need; importance and sources;
Subtopics:
○ need
○ importance and sources
Topic 4: Minimum support price;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 5: Rationale of industrialization;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 6: Concept of optimum size of the firm;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 7: Determinants &
measurements of industrial efficiency & profitability;
Subtopics:
○ measurements of industrial efficiency & profitability
Topic 8: Determinants & Theories of industrial
location — Alfred Weber, & Paul Krugman;
Subtopics:
○ Alfred Weber, & Paul Krugman
Topic 9: Industrial policies in India.
Subtopics:
○ [Subtopics not explicitly listed]
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Unit VIII: Public Economics:

Topic 1: Concept and solution to Externality;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 2: Role of Government— Allocation; Distribution and
Stabilisation;
Subtopics:
○ Allocation
○ Distribution and
Stabilisation
Topic 3: Optimal provision of private and public goods;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 4: Wagner’s theory of public
expenditure;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 5: Taxation—types and tax incidence;
Subtopics:
○ types and tax incidence
Topic 6: Theory of optimal Taxation.
Subtopics:
○ [Subtopics not explicitly listed]
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Unit IX: Elementary statistics:

Topic 1: Measures of central tendency and dispersion;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 2: Correlation – Karl Pearson’s method and rank
correlation;
Subtopics:
○ Karl Pearson’s method and rank
correlation
Topic 3: Regression- Meaning and scope; Simple and multiple regression;
Subtopics:
○ Meaning and scope
○ Simple and multiple regression
Topic 4: Meaning and
definition of probability; additive and multiplicative probability’ conditional probability;
Subtopics:
○ additive and multiplicative probability’ conditional probability
Topic 5: Testing of hypothesis – level of significance and level of confidence; confidence limits and
critical region; tests of significance – type-I and type-If errors; goodness of fit; one tailed and
two tailed tests; hypothesis testing based on Z-test; T-tests; chi-square and F tests
Subtopics:
○ level of significance and level of confidence
○ confidence limits and
critical region
○ tests of significance – type-I and type-If errors
○ goodness of fit
○ one tailed and
two tailed tests
○ hypothesis testing based on Z-test
○ T-tests
○ chi-square and F tests
Topic 6: Index
numbers—Meaning and importance; Laspeyre’s, Paasche’s and Fisher’s method.
Subtopics:
○ Meaning and importance
○ Laspeyre’s, Paasche’s and Fisher’s method
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Unit X: Basic Econometrics and Mathematics for Economics:

Topic 1: Nature; meaning and scope of econometrics;
Subtopics:
○ meaning and scope of econometrics
Topic 2: types of data – time series; cross section and
panel data;
Subtopics:
○ time series
○ cross section and
panel data
Topic 3: Estimation through OLS approach;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 4: Properties of estimators – Gauss – Markov
theorem;
Subtopics:
○ Gauss – Markov
theorem
Topic 5: R – square and adjusted R-square;
Subtopics:
○ adjusted R-square
Topic 6: Problems of heteroscedasticity; autocorrelation
and multicollinearity — Nature, test, consequences and remedial measures;
Subtopics:
○ autocorrelation
and multicollinearity — Nature, test, consequences and remedial measures
Topic 7: Basic Concepts Set theory— sets and set operations; cartesian product of sets; relations;
functions; one-to-one and onto functions; objective functions; composite functions; inverse
functions; logarithmic and exponential functions.
Subtopics:
○ sets and set operations
○ cartesian product of sets
○ relations
○ functions
○ one-to-one and onto functions
○ objective functions
○ composite functions
○ inverse
functions
○ logarithmic and exponential functions
Topic 8: Differentiation; Rules of differentiation;
partial and total differential; relative maxima and minima— first and second derivative test;
Euler’s theorem; Langrangian multiplier.
Subtopics:
○ Rules of differentiation
○ partial and total differential
○ relative maxima and minima— first and second derivative test
○ Euler’s theorem
○ Langrangian multiplier
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Unit XI: Environmental Economics

Topic 1: Environment and the economy— inter-linkages and trade-off;
Subtopics:
○ inter-linkages and trade-off
Topic 2: property rights — open access
and common property resource;
Subtopics:
○ open access
and common property resource
Topic 3: externalities as a source of market failure;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 4: public goods and
bads;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 5: sustainability: concept and indicators;
Subtopics:
○ concept and indicators
Topic 6: Measurement of Environmental Values—
Concept and types of environmental value; Methods of environmental valuations— defensive
expenditure approach, hedonic pricing approach, travel cost approach, contingent valuation
technique.
Subtopics:
○ Concept and types of environmental value
○ Methods of environmental valuations— defensive
expenditure approach, hedonic pricing approach, travel cost approach, contingent valuation
technique
Topic 7: Coasian approach; Pigovian taxes; command and control methods;
Subtopics:
○ Coasian approach
○ Pigovian taxes
○ command and control methods
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Unit XII: J&K Economy

Topic 1: SGDP & employment;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 2: structural transformation;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 3: unemployment & inflation;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 4: structure of labour market;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 5: industrial policy (2021-30);
Subtopics:
○ [Subtopics not explicitly listed]
Topic 6: trade and export policy (2018-28);
Subtopics:
○ [Subtopics not explicitly listed]
Topic 7: Basic Sectoral Issues; Nature & scope of agriculture & industry; diversification of agriculture & Cropping pattern;
Subtopics:
○ Nature & scope of agriculture & industry
○ diversification of agriculture & Cropping pattern
Topic 8: Tourism; handicraft & energy sector;
Subtopics:
○ handicraft & energy sector
Topic 9: challenges of investment;
Subtopics:
○ [Subtopics not explicitly listed]
Topic 10: Finance and Banking Structure of finance—revenue (tax & non-tax) & expenditure (plan & non-plan);
Subtopics:
○ revenue (tax & non-tax) & expenditure (plan & non-plan)
Topic 11: Gadgil plan with special reference to J&K; J&K finance commission;
Subtopics:
○ with special reference to J&K
○ J&K finance commission
Topic 12: budgetary deficits & FRBM act.
Subtopics:
○ [Subtopics not explicitly listed]
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EXAM STRUCTURE / SCHEME OF EXAMINATION
(Only if explicitly provided in the uploaded document)
• Paper / Section details: [Not Provided in Source]
• Number of questions: [Not Provided in Source]
• Marks distribution: [Not Provided in Source]
• Question type: [Not Provided in Source]
• Duration: [Not Provided in Source]
• Additional notes:
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SYLLABUS SUMMARY (Auto-Generated)
• Total Units: 12
• Total Topics: 80
• Exam: Lecturer (10+2) Economics
• Subject: Economics
• Exam Year: 2025
✓ Extracted verbatim from the official uploaded document