Subject wise imp topics (eco) - Group of Economics
Transcript of Subject wise imp topics (eco) - Group of Economics
Subject wise imp topics (eco)
Chanakya group of economics
INDIAN ECONOMY
UGC-NET PAPER-2 (ECO),pgt Eco, UPSC, IES
1.Demand analysis
Elasticity's of demand
Derived demand
Network externalities
1.Bandwogan
effect
2.Snob
effect
2.Utility analysis
Law of equi-marginal utility
Law of diminishing
marginal utility
3.Indifference curve
analysisConsumer
equilibrium
Budget line
6.Theories of production
1.Cobb-Douglas
production function
2.Constant elasticity
of substitution(CES)
7.COST ANALYSIS
1.Classical analysis
2.Modern theory of cost.
10.Cob-web model
11.Managerial theories
1.Sales maximization
2.Managerial theory of firm
3.Bain limit pricing theory
Baumal Marris
12.Technological progress-J.R.Hicks
13.Theory of Rent
Ricardo/classicalTheory of Rent
Modern Concept of Rent
14.Theory of Interest
Classical theory of interest.
Neo-classical/loan
able fund theory
15.Theory of profit
J.B.Clark
1.General eqm of consumption
16.Welfare Economics
General exchange eqm
Bergson-Samuelson
social welfare function
Arrow impossibility
theory
2.General eqm of production
3.General eqm of consumption and production
Also called pareto optimality
conditions
1.National Income-
Aggregates of N.Y
Real GDP Nominal GDP GDP deflator
Base year of GDP
Base year of WPI,&CPI,
2.Classical theory of employment
Assumptions .
Determination of output and employment in different equilibrium.
1.Labour mkt eqm
2.Goods mkt eqm
3.Money mkt eqm
4.Wage price
flexibility
Keynesian critics over classical
3.Keynesian theory of Income
Output and employment
Unemployment and full employment
Classical view
Keynesian views
5.Concept of Multiplier
Employment multiplier
Investment multiplier
Balance budget multiplier
Concept of Accelerator
Super multiplier
6.Four important theories of macro-economics
1.Kenyes psychological
law of consumption
2.Relative income hypo.
3.Permanent income hypo
4.Life cycle Hypo.
Absolute income
hypothesis
7.Theories of investment
1.Profit theory of investment-fisher
Financial theory of investment- Duesenberry
Neo-classical theory of investment-jorgenson
Tobin Q-Theory of Investment
Determinants of investment-Acc to cllassical, Acc to keynes, Acc to modern economist.
8.Concept of Money
Supply of money- M1,M2,M3,M4
High power money
Money multiplier
Quantity theory of money
Cash transaction approach
Cash balance approach
Irvin fisherMarshall , Pigou, Robertson,and keynes
RBI’s monetary Instrument
9.Keynesian approach
(Liquidity preference)
2.Critics theories of LP
Boumal inventory theoretical approach
Tobin portfolio selection model
11.Theories of inflation
Classical view
2.Keynesian view
Monetarist view
Philip curve analysis
Short run PC
Long run PC(Friedman
view)
1.Innovation theory of BC
5.Hicks theory of
BC
12.Theories of business cycle
2.Cob-web model of
BC
3.Keynes theory of
BC
4.Samuelson theory of
BC
6.kaldor theory of
BC
13.IS-LM approach
IS-LM and monitory policy
IS-LM and fiscal policy
14.New classical macro-economics model
Some important topics
Okun’s law
Balance of payment
Golden rule of acumination- Admund phelp
Trickle up and trickle down effects.
Real business cycle
Greshams law
Concept of deflation
1.Measuring development
4.Gender inequality
Index.
2.HDI(1990)
1.PQLI(1979)
3.Multy-dimensional Poverty index(MPI)
2010
HDIReplaced HPI 1997
3.Theories of development
4.Marxiantheory
2.Malthus theory
1.Adam Smith theory
3.David Ricardo theory
5.Rostow’smodel
4.Theories of economic growth
1.Harrod growth Model
2.Domor growthmodel
classical
Steady growth eqm.
Razor edge effect.
Knife edge eqm
1.Harrod growth Model
4.Theories of economic growthNeo-classical
4.Mead model
2.Endogenous growth model
1.Sollow model
3.Joan Robinson
model
5.Theories of dualism
1.Socail dualism- Boeke
2.Ecological dualism- Geertz
3.Technological Dualism- Benjamin Higgins
4.Enclave dualism– singer,furtado and myint
5.Financial dualism- myint
6.Internatinal dualism- Michael Tadaro
7.Geographical dualism- Gunnar Myrdal
6.Other theories of development
1.Lewis theory(utilization of surplus
manpower-1)
2.Fie & Ranis theory(utilization of surplus
manpower-2)
7.Approaches to development
1.Balance growth 2.Unbalance
growth
Nurkse-vicious cycle of poverty
Rodan –Big push theory
Theories of critical minimum efforts-
Leibenstein
Low level eqmtrap theory-
Nelson
11.Technical progress in growth
1.Hicks tech progress model
2.Disemboided Tech progress
3.EmboidedTech
progress
12.Model used in five year plans
Golden rule of accumilation
Technical progress- Hicks and harrod.
HDI ranking and India
Prebisch, singer and Myrdal theory from
international trade.
Some other imp topics
1.Classical theories of international trade
1.Absolute cost advantage
theory
1.comparative cost advantage
theory
Adam smithDavid Ricardo
2.neo-Classical theories of international trade
1.Opportunity cost theory
2.Theory of reciprocal demand
G.Haberler J.S.Mill
4.other theories of international trade
1.Factor price equalization
2.Stopler-samuelson theorem.
3.Metzler paradox
4.Lerner symmetry theorem
7.Some int. trade theories
1.The Rybczynski theorem
2.Availability theory of int.
trade- cravis
3.Linder’s theory of demand
and trade pattern
8.Concept of terms of trade(tot)
5.Double factor TOT
4.Single factor TOT
1.Net barter
TOT
2.Gross barter
TOT
3.Income TOT
Factors affecting TOT
10.DEVALUEATION THEORIES
5.Expenditure switching policy
4.The absorption approach
1.The elasticity approach
2.Marshall Lerner
condition
3.J.curve effect
Dumping
Effect of tariffs in short run, medium
and long run
Economic integration
Economic union
Dumping
Some imp. points
Types of tariff
Elasticity's of TOT
Current account convertibility
capital account convertibility
Optimum tariff
1.Type of goods
1.Publicgoods
2.Private goods
3.Merit goods
Asymmetric information
Moral hazard.
Adverse selection
3.Public budget
Canons of budgeting –H.D. Smith
Various public funds
1.Consolidated fund.
2.Contigency fund.
3.Supplimentary fund/grant
4.Techniques of budgeting
1.Performance budgeting.
2.Programme budgeting.
3.Zero base budgeting-peter A. Phyrr 1969.
5.Concept of deficit
Revenue deficit .
Capital deficit.
Budget deficit
Fiscal deficit
Primary deficit
Net fiscal deficit
Primary deficit .
Monetized deficit
Effective revenue deficit
Structural deficit
operational deficit
6.Theories of public finance
1.Adolf Wagner’s
hypothesis
2.Peacock-wiseman
hypo.
3.Colin –Clark hypo.
1.Displacement effect
2.Inspection effect
3.Concentration effect
Critical limit
Hypo.
1.Benefit principal
2.Benefit received theory
3.Ability to pay theory
9.Theories of distribution of tax burden
LindahlSeligman
Pigou &seligman
10.Sacrifice principal
Given by Richard Musgrave
1.Equal absolutesacrifice
2.Equal proportional
sacrifice
3.Equal marginal sacrifice
sacrifices
11.Concept of public debt
Short term debt
Medium term debt
Long term debt
Redeemable debt
Irredeemable debt
Funded debt
Unfunded debt
12.Fiscal federalism
1.Statelist
2.Central list
3.cuncurrent list
List 1 seventh schedule
List 2 seventh schedule
13.Finance commission
Head of diff. finance commissions.
Articles related FC..
Grants in aids to diff. states..
14.Fiscal policy
1.Concept of Classical fiscal policy.
2.Concept of modern fiscal policy
Built in stabilizer
Discretionary fiscal policy.
15.Burden of public debt
Direct money burden
Indirect money burden
Direct real burden.
Indirect real burden.
Tax buoyancy .
Tax ratio-
Lafer curve.
Taxable capacity .
Horizontal equaty
Vertical equity
Some other imp points
Tax capitalization
1.Measures of central tendency
average
Mathematical average
Positional average
Arithmetic mean
Geometric mean
Harmonicmean
Median Mode
2.Measure of dispersion
There are 6 methods to measuring dispersion
1.Range
2.Interquartile Range
3.Mean Deviation
4.Standard Deviation
5.coeff. Ofvariance
6.Lorenz Curve
3.Measure of skewness
3 important methods of measuring skewness.
1.karl Pearson method
symmetrical.
Asymmetrical= +ve and –ve skewed.
2.Bowleymethod
3.kelly’smethod
4. Measure of kurtosis
3 moments of kurtosis.
3 types of kurtosis
Lepto-kurtic Meso-kurticplato-kurtic
Measures of kurtosis.
5. correlation
Degree of correlation.
Methods of studding correlation
1.Karl Pearson method
2.Spearman rank
correlation
3.Concurrentdeviation
Coefficient of Determination
6.Linear regression analysis
Least square method.
Regression equation
Regression coefficient.
Properties of regression coefficient.
Standard error
7.Index number
Simple/un weighted I.N Weighted I.N
1.Laspeyre’smethod
2.Paasche method
3.Fishermethod
4.Dorbish and Bowley
method
5.marshall-edgeworth
model
6.kelly’s method
9-pobability
Addition theorem
Multiplication theorem
Bernoulli’s theorem
Binomial distribution
Normal distributionProperties-
Shape of normal curve
10. Sampling methods
1l.probability sampling
2.non-probability sampling
1.Random sampling
2.Stratified sampling
3,systematic sampling
4,multi-stage sampling
5.Cluster sampling
1.Judgement sampling
3.Convenience sampling
2.Quata sampliing
4.Extensive sampling
5.Purposive sampling
11.Test of hypothesis
Small and large sample test.
1.T-Test 2.Z-test 3.F-test
Type 1 error
Type 2 error
1.Simple linear regression model
Assumptions of regression
Standard error.
T-test ,.
Z-test.
Goodness of fit R2
MULTIPLE regression model
2.Least square estimation/OLS
Properties of OLS estimator
1.Unbiasedness
2.Least variance
4.Linear estimator
5.Best linear unbiased
estimator(BLUE)
3.Efficient estimator
7.Consistent estimator
8.Minimum mean square
estimator
9.Sufficient estimator
3.AUtocorelation
First order autocorrelation
Higher degree autocorrelation
Tests of autocorrelation
1.Durbin-Watson test
2.von-neumann ratio test
Conditions or equation of autocorrelation
4.heteroscedasticity
Conditions or equation of Heteroscedesticity
Reasons for the problem of Heteroscedesticity
Consequences of Heteroscedesticity
Tests of Heteroscedesticity
There are 6 test of Heteroscedesticity
5.multicoliniarity
Conditions of multicolinearity.
Reasons for problems of multicolinearity.
Consequences of multico.
Tests of multicolinearity
7.Simultaneous-equation model
assumptions.
Consequences of simultaneous-eqn
Simultaneous-equation method
1.Single equation method(5)
2.System method(2)
1,indirect least square method(ILS)
2.Instrument variable(IV)
3.Two stage least sq (2SLS)
4.Limited info. Maxi livelihood
5.Mixed estimation method.
2.Full info. Maximum
livelihood.(FIML)
1.three stage least sq (3SLS)
8-TIME SERIES ANALYSIS
STATIONARY AND NON-STATIONARY PROCESS
RANDOM WALK MODEL
STATIONARY TESTS
UNIT ROOT TEST DICKY-FULLAR TEST
1. Indian agriculture
1.Role of agriculture in Indian GDP.
2.Agriculture census.
3.New agriculture policy(2000)
2.Agricultural (land) reforms
1.Technical reforms
2.Institutional reforms.
3.General reforms
1.Zamidari system.
2.Ryotwari system.
3.Mahalwari system.
2.Concept of green revolution.
3.Money and banking
1.Suply of money.- measures M1,M2,M3,M4
2.Concept of inflation.- WPI, CPI. Base year.
3.Monetary policy of RBI- repo rate,bank rate,
RRR,MSF, CRR ,SLR.
4.PUBLIC FINANCE
1.Fedral system in India.(central and state govt
relationship)
1.Central lista(66 sub)
2.State list(97)
3.ConcurrentList(47)
List 1 seventh schedule. List 2 seventh schedule.
12 items of taxation. Rest all taxes included in
state list.
5. Industry.
1.New industrial policy 1991.
Industrial policies-1947,1956,1977,198o,1991.
2.MSME’s- investment limit.
In service sector and manufacturing sector.
Base year of index of industrial production (IIP).
Growth of manufacturing , mining and
electricity.
6.Povery and unemploymentPolicies of govt.like-MGNREGA,
SJSSY,SJGSY,IAY, and some new policies
Some committees on poverty and unemployment.
7.Planning in India.
Objectives of five year plane..like
1st FYP –agricultural development. Based on H-D model
2nd FYP – Industrial development. Based on
Mahalanobeismodel.
3rd FYP – balance(agri+industry) development.
Types of planning.
Imperative planning.
Indicative planning.
Perspective planning.
Rolling planning
Core planning.
9.Social indicator.
IMR.
MMR.
Birth rate.
Death rate.
General Fertility rate..
total Fertility rate..
Gross fertility rate.
Neonatal martality.
Prenatal mortality.
Neonatal mortality.
10.Indian export and import.
Largest trade partner of India.
Top 5 export partners of India.
Top 5 import partners of India.
Top 5 exportable commodity of India.
Top 5 importable commodity of India.