Chapters | Topics |
GATE Economics syllabus for Microeconomics | Theory of Consumer Behaviour: Cardinal Approach and Ordinal
Approach; Consumer Preferences; Nature of the utility function; Marshallian and Hicksian
demand functions; Duality Theorem. Slutsky equation and Comparative Statics. Homogeneous
and Homothetic Utility Functions; Euler’s Theorem. The Theory of Revealed Preference: Weak
Axiom of Revealed Preference and Strong Axiom of Revealed Preference, Theory of Production
and Costs: Short-run and Long-run Analysis, Existence, Uniqueness and Stability of Market
Equilibrium: Walrasian and Marshallian Stability Analysis. The Cobweb Model, Decision making
under uncertainty and risk. Asymmetric Information: Adverse Selection and Moral Hazard. Theory
of Agency costs. The Theory of Search, Non-Cooperative games: Constant sum game, Mixed
Strategy & Pure Strategy, Bayesian Nash Equilibrium, SPNE, Perfect Bayesian Equilibria., Theory
of Firm: Market Structures — Competitive and Non-competitive equilibria and their efficiency
properties. Structure-Conduct-Performance Paradigm, Factor Pricing: Marginal productivity
Theory of Distribution in Perfectly Competitive markets; Theory of Employment in Imperfectly
Competitive Markets — Monopolistic Exploitation, General Equilibrium Analysis. Welfare
Economics: Fundamental Theorems, Social Welfare Function. Efficiency Criteria: ParetoOptimality. |
GATE Economics syllabus for Macroeconomics | National Income Accounting: Closed Economy Concepts and
Measurement and Open Economy Issues, Determination of output and employment: Classical &
Keynesian Framework, Theories of Consumption: Absolute Income Hypothesis, Relative Income
Hypothesis, Life Cycle Hypothesis, Permanent Income Hypothesis and Robert Hall’s Random
Walk Model; Investment Function Specifications - Dale Jorgenson’s Neoclassical Theory of
Capital Accumulation and Tobin’s, Keynesian Stabilization Policies, (Autonomous) Multipliers
and Investment Accelerator, Demand and Supply of Money, Components of Money Supply,
Liquidity Preference and Liquidity Trap, Money Multiplier, Interest Rate determination, Central
Banking, Objectives, Instruments (Direct and Indirect) of Monetary Policy, Prudential Regulation,
Quantitative Easing (Unconventional Monetary Policy), Commercial Banking, Non-Banking
Financial Institutions, Capital Market and its Regulation, Theories of Inflation and Expectations
Augmented Phillips Curve, Real Business Cycles, Adaptive Expectations Hypothesis, Rational
Expectation Hypothesis and its critique. Closed Economy IS – LM Model and Mundell Fleming
Model: Monetary and Fiscal Policy Efficacy. The Impossible Trinity |
GATE Economics syllabus for Statistics, Econometrics and Mathematical Economics | Probability Theory: Concepts of
probability, Probability Distributions [Discrete and Continuous], Central Limit Theorem, Index
Numbers and Construction of Price Indices, Sampling Methods & Sampling Distribution,
Statistical Inferences, Hypothesis Testing, Linear Regression Models and the Gauss Markov
Theorem, Heteroscedasticity, Multicollinearity and Autocorrelation, Spurious regressions and
Unit roots, Simultaneous Equation Models – recursive and non-recursive. Identification Problems,
Differential Calculus and its Applications, Linear Algebra – Matrices, Applications of Cramer’s Rule, Static Optimization Problems and Applications, Input-Output Model, Linear Programming,
Difference equations and Differential equations with applications |
GATE Economics syllabus for International Economics | Theories of International Trade, International Trade under
Imperfect Competition, Gains from Trade, Terms of Trade, Trade Multiplier, Tariff and NonTariff barriers to trade; Dumping and Anti-Dumping Policies, GATT, WTO and Regional Trade
Blocks; Trade Policy Issues, Balance of Payments: Composition, Equilibrium and Disequilibrium
and Adjustment Mechanisms, Foreign Exchange Market and Arbitrage, Exchange rate
determination, IMF & World Bank. |
GATE Economics syllabus for Public Economics | Market Failure and Remedial Measures: Asymmetric Information,
Public Goods, Externality, Regulation of Market – Collusion and Consumers’ Welfare, Public
Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-Progressive
Taxation, Incidence and Effects of Taxation, Public expenditure, Public Debt and its management,
Public Budget and Budget Multiplier, Tax Incidence, Fiscal Policy and its implications,
Environment as a Public Good, Market Failure and Coase Theorem, Cost-Benefit Analysis |
GATE Economics syllabus for Development Economics | Theories of Economic Development: Adam Smith, David
Ricardo, Karl Marx, J. Schumpeter, W. Rostow, Balanced & Unbalanced Growth, Big Push
Approach, Indicators of Economic Development: HDI, SDGs, MDGs, Poverty and Inequalities –
Concepts and Measurement Issues, Social Sector Development: Health, Education, Gender,
Fertility, Morbidity, Mortality, Migration, Child Labor, Age Structure, Demographic Dividend,
Models of Economic Growth: Harrod-Domar, Solow, Ramsey, Technical progress – Disembodied
& Embodied, Endogenous Growth Models |
GATE Economics syllabus for Indian Economy | Economic Growth in India: Pattern and Structure, Agriculture, Industry
& Services Sector: Pattern & Structure of Growth, Major Challenges, Policy Responses, Rural &
Urban Development – Issues, Challenges & Policy Responses, Flow of Foreign Capital, Trade
Policies, Infrastructure Development: Physical and Social; Public-Private Partnerships, Reforms
in Land, Labour and Capital Markets, Poverty, Inequality & Unemployment, Functioning of
Monetary Policy in India, Fiscal Policy in the Indian context: Structure of Receipts and
Expenditure, Tax reforms-Goods and Services Tax, Issues of Growth and Equity, Fiscal
Federalism, Centre-State Financial Relations and Finance Commissions of India; Sustainability of
Deficits and Debt, The Fiscal Responsibility and Budget Management Act 2003, Demonetization
and aftermath. India’s balance of payments, Composition of India’s Trade, Competitiveness of
India’s exports, India’s exchange rate policy |