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If you’re preparing for the GATE Economics exam (XH-C1), understanding the GATE Economics syllabus in-depth is the first step toward a high score.

The GATE Economics Syllabus is a comprehensive guide for aspirants preparing for the GATE Economics, with a high score in GATE Economics exam allowing them to pursue M.Sc. or Ph.D. programs in economics at top institutes like IITs, IIMs, etc.The syllabus covers core areas like Microeconomics, Macroeconomics, Econometrics, Mathematical Economics, and the Indian Economy, along with advanced topics 

Download GATE Economics (XH-C1) Syllabus

GATE Economics Microeconomics

GATE Economics Microeconomics Syllabus covers Consumer Theory, Theory of Production and Cost, General Equilibrium and Welfare, Market Structure, Game Theory, etc.

  1. 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
  2. The Theory of Revealed Preference: Weak Axiom of Revealed Preference and Strong Axiom of Revealed Preference
  3. Theory of Production and Costs: Short-run and Long-run Analysis
  4. Existence, Uniqueness and Stability of Market Equilibrium: Walrasian and Marshallian Stability Analysis. The Cobweb Model
  5. Decision making under Uncertainty and Risk
  6. Asymmetric Information: Adverse Selection and Moral Hazard. Theory of Agency costs. The Theory of Search
  7. Non-Cooperative games: Constant sum game, Mixed Strategy & Pure Strategy, Bayesian Nash Equilibrium, SPNE, Perfect Bayesian Equilibria
  8. Theory of Firm: Market Structures – Competitive and Non-competitive equilibria and their efficiency properties. Structure-Conduct-Performance Paradigm
  9. Factor Pricing: Marginal productivity Theory of Distribution in Perfectly Competitive markets; Theory of Employment in Imperfectly Competitive Markets — Monopolistic Exploitation
  10. General Equilibrium Analysis- Welfare Economics: Fundamental Theorems, Social Welfare Function. Efficiency Criteria: Pareto Optimality.

GATE Economics MACRO-ECONOMICS

GATE Economics Macroeconomics Syllabus covers Nation Income Accounting, Classical & Keynesian Approach, Investment Function, Consumption Function, Multiplier & Accelerator, IS-LM Model, Business Cycle, etc.

  1. National Income Accounting: Closed Economy Concepts and Measurement and Open Economy Issues
  2. Determination of output and employment: Classical & Keynesian Framework,
  3. Theories of Consumption: Absolute Income Hypothesis, Relative Income Hypothesis, Life Cycle Hypothesis, Permanent Income Hypothesis and Robert Hall’s Random Walk Model
  4. Investment Function Specifications – Dale Jorgenson’s Neoclassical Theory of Capital Accumulation and Tobin’s, Keynesian Stabilization Policies, (Autonomous)
  5. Multipliers and Investment Accelerator
  6. Demand and Supply of Money, Components of Money Supply, Liquidity Preference and Liquidity Trap, Money Multiplier, Interest Rate determination
  7. 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
  8. Theories of Inflation and Expectations Augmented Phillips Curve
  9. Real Business Cycles, Adaptive Expectations Hypothesis, Rational Expectation Hypothesis and its critique
  10. Closed Economy IS – LM Model and Mundell Fleming Model: Monetary and Fiscal Policy Efficacy. The Impossible Trinity

GATE Economics Statistics, Econometrics and Mathematical Economics

GATE Economics Statistics, Econometrics and Mathematical Economics Syllabus covers Central Tendency, Dispersion, Correlation, Probability Distribution, Regression Analysis, Linear Algebra, Linear Programming, Differential Calculus, etc.

  1. Index Numbers and Construction of Price Indices
  2. Probability Theory: Concepts of probability, Probability Distributions [Discrete and Continuous], Central Limit Theorem
  3. Sampling Methods & Sampling Distribution, Statistical Inferences, Hypothesis Testing
  4. Linear Regression Models and the Gauss Markov Theorem, Heteroscedasticity, Multicollinearity and Autocorrelation
  5. Spurious Regressions and Unit roots
  6. Simultaneous Equation Models : Recursive and non-recursive. Identification Problem
  7. Differential Calculus and its Applications, Static Optimization Problems and Applications
  8. Linear Algebra : Matrices, Applications of Cramer’s Rule, Input-Output Model
  9. Linear Programming
  10. Difference equations and Differential equations with applications.

GATE Economics International Economics

GATE Economics International Economics Syllabus covers Theories of International Trade, Gains from Trade, Terms of Trade, Balance of Payments, Foreign Exchange Market, IMF and World Bank.

  1. Theories of International Trade, International Trade under Imperfect Competition, Gains from Trade, Terms of Trade, Trade Multiplier
  2. Tariff and Non-Tariff barriers to trade, Dumping and Anti-Dumping Policies
  3. GATT, WTO and Regional Trade Blocks; Trade Policy Issues
  4. Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms
  5. Foreign Exchange Market and Arbitrage, Exchange rate determination
  6. IMF & World Bank

GATE Economics Public Economics

GATE Economics Public Economics Syllabus covers Market Failure, Public Revenue, Public Expenditure, Coase Theorem, etc.

  1. Market Failure and Remedial Measures: Asymmetric Information, Public Goods, Externality
  2. Regulation of Market : Collusion and Consumers’ Welfare
  3. Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-Progressive Taxation, Incidence and Effects of Taxation
  4. Public expenditure, Public Debt and its management
  5. Public Budget and Budget Multiplier, Tax Incidence, Fiscal Policy and its implications
  6. Environment as a Public Good, Market Failure and Coase Theorem, Cost-Benefit Analysis

GATE Economics Development Economics

GATE Economics Development Economics Syllabus covers Theories of Economic Development, Human Development Index, Poverty, Inequality, Models of Economic Growth, Technical Progress, etc.

  1. Theories of Economic Development: Adam Smith, David Ricardo, Karl Marx, J. Schumpeter, W. Rostow, Balanced & Unbalanced Growth, Big Push Approach,
  2. Indicators of Economic Development: HDI, SDGs, MDGs
  3. Poverty and Inequalities – Concepts and Measurement Issues
  4. Social Sector Development: Health, Education, Gender, Fertility, Morbidity, Mortality, Migration, Child Labor, Age Structure, Demographic Dividend
  5. Models of Economic Growth: Harrod-Domar, Solow, Ramsey
  6. Technical Progress – Disembodied & Embodied, Endogenous Growth Models

GATE Economics Indian Economy

GATE Economics Indian Economy Syllabus covers Economic Growth in India, Indian Agriculture, Industry and Services Sector, Flow of Foreign Capital, Poverty, Inequality, Fiscal Federalism, Infrastructure Development, etc.

  1. Economic Growth in India: Pattern and Structure
  2. Agriculture, Industry & Services Sector: Pattern & Structure of Growth, Major Challenges, Policy Responses
  3. Rural & Urban Development: Issues, Challenges & Policy Responses
  4. Flow of Foreign Capital, Trade Policies
  5. Infrastructure Development: Physical and Social; Public-Private Partnerships,
  6. Reforms in Land, Labour and Capital Markets
  7. Poverty, Inequality & Unemployment
  8. Functioning of Monetary Policy in India
  9. Fiscal Policy in the Indian context: Structure of Receipts and Expenditure, Tax Reforms-Goods and Services Tax, Issues of Growth and Equity
  10. 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
  11. India’s balance of payments, Composition of India’s Trade, Competitiveness of India’s exports, India’s exchange rate policy
Download GATE Economics (XH-C1) Syllabus

All About GATE Economics (XH-C1)

What is GATE Economics (XH-C1) Exam?

The GATE Economics Exam is a national-level competitive test conducted by the Indian Institutes of Technology (IITs) to assess candidates’ understanding of advanced economic theories, quantitative techniques, and applied economics. Qualifying in GATE Economics opens doors to M.Sc. Economics or PhD Economics admission in prestigious institutions like IITs, IIMs, along with eligibility for financial aid (i.e., scholarships). Additionally, a high GATE Economics score can signal good command over Economics subject and enhance career prospects in public policy, economic research, and corporate sectors at the Interview stage.

How Many Candidate Appear for GATE Economics Exam?

Out of 2756 candidates who appeared for GATE Economics Exam in 2023, 1931 candidates qualified GATE Economics Exam.