of Part B - Main Examination of Civil Services Exam
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Advanced Micro Economics:
Marshallian and Walrasiam Approaches to Price determination.
Alternative Distribution Theories: Ricardo, Kaldor, Kaleeki
Markets Structure: Monopolistic Competition, Duopoly, Oligopoly.
Modern Welfare Criteria: Pareto Hicks & Scitovsky, Arrow’s
A.K. Sen’s Social Welfare Function.
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.
Money - Banking and Finance:
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.
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.
Old and New Theories of International Trade
Terms of Trade and Offer Curve.
Product Cycle and Strategic Trade Theories.
Trade as an engine of growth” and theories of under development in an
Forms of Protection: Tariff and quota.
Balance of Payments Adjustments: Alternative Approaches.
Price versus income, income adjustments under fixed exchange rates,
Theories of Policy Mix
Exchange rate adjustments under capital mobility
Floating Rates and their Implications for Developing Countries: Currency
Trade Policy and Developing Countries.
BOP, adjustments and Policy Coordination in open economy macro-model.
Trade Blocks and Monetary Unions.
WTO: TRIMS, TRIPS, Domestic Measures, Different Rounds of WTO talks.
Theories of growth: Harrod’s model,
Lewis model of development with surplus labour
(iii) Balanced and Unbalanced growth,
Capital and Economic Growth.
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.
Development and Environmental Sustainability – Renewable and Non
Renewable Resources, Environmental Degradation, Intergenerational equity
Indian Economy in Pre-Independence Era:
System and its changes, Commercialization of agriculture, Drain theory, Laissez
faire theory and critique. Manufacture and Transport: Jute, Cotton, Railways,
Money and Credit.
Indian Economy after Independence:
The Pre Liberalization Era:
Contribution of Vakil, Gadgil and V.K.R.V.
Agriculture: Land Reforms and land tenure system, Green Revolution and
capital formation in agriculture,
Industry Trends in composition and growth, Role of public and private
sector, Small scale and cottage industries.
National and Per capita income: patterns, trends, aggregate and Sectoral
composition and changes their in.
Broad factors determining National Income and distribution, Measures of
poverty, Trends in poverty and inequality.
The Post Liberalization Era:
New Economic Reform and Agriculture:
Agriculture and WTO, Food processing, Subsidies, Agricultural prices and
public distribution system, Impact of public expenditure on agricultural growth.
New Economic Policy and Industry: Strategy of industrialization,
Privatization, Disinvestments, Role of foreign direct investment and
New Economic Policy and Trade: Intellectual property rights: Implications
of TRIPS, TRIMS, GATS and new EXIM
New Exchange Rate Regime: Partial and full convertibility, Capital
New Economic Policy and Public Finance: Fiscal Responsibility Act,
Twelfth Finance Commission and Fiscal Federalism and Fiscal Consolidation.
New Economic Policy and Monetary system. Role of RBI under the new
Planning: From central Planning to indicative planning, Relation between
planning and markets for growth and decentralized planning: 73rd and
74th Constitutional amendments.
New Economic Policy and Employment: Employment and poverty, Rural wages,
Employment Generation, Poverty alleviation schemes, New Rural, Employment
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