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Mastering the UGC NET-JRF Economics Syllabus is essential to qualify UGC NET-JRF Economics exam in the first attempt! The UGC NET-JRF Economics syllabus covers 10 core units, including Microeconomics (consumer theory, game theory), Macroeconomics (GDP, inflation), Indian Economy (planning, reforms), Econometrics (regression, hypothesis testing), and International Economics (trade theories, WTO). High-weightage topics like market structures, IS-LM model, 5-year plans, and econometric methods are crucial for scoring well. By focusing on these areas and practicing UGC NET-JRF Economics previous years’ papers, you can boost your chances of qualifying for JRF/Assistant Professor roles. Download the official UGC NET-JRF Economics syllabus PDF for a detailed breakdown and start your JRF Economics preparation today!

Download UGC NET-JRF Economics Syllabus

Unit-1 Microeconomics

UGC NET-JRF Economics Syllabus of Microeconomics covers Consumer Theory, Theory of Production and Cost, General Equilibrium and Welfare, Market Structure, Game Theory, etc.

  1. Theory of Consumer Behaviour
  2. Theory of Production and Costs
  3. Decision making under uncertainty
  4. Attitude towards Risk
  5. Game Theory : Non-Cooperative Games
  6. Market Structures, competitive and non-competitive equilibria and their efficiency properties
  7. Factor Pricing
  8. General Equilibrium Analysis
  9. Efficiency Criteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization
  10. Welfare Economics: Fundamental Theorems , Social Welfare Function
  11. Asymmetric Information: Adverse Selection and Moral Hazard

Unit-2 MACRO-ECONOMICS

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

  1. National Income: Concepts and Measurement
  2. Determination of output and employment: Classical & Keynesian Approach
  3. Consumption Function
  4. Investment Function
  5. Multiplier and Accelerator
  6. Demand for Money
  7. Supply of Money
  8. IS – LM Model Approach
  9. Inflation and Phillips Curve Analysis
  10. Business Cycles
  11. Monetary and Fiscal Policy
  12. Rational Expectation Hypothesis and its critique

Unit-3 STATISTICS AND ECONOMETRICS

UGC NET-JRF Economics Syllabus of Statistics & Econometrics covers Central Tendency, Dispersion, Correlation, Probability Distribution, Regression Analysis, etc.

  1. Probability Theory: Concepts of probability, Distributions, Moments, Central Limit Theorem
  2. Descriptive Statistics – Measures of Central tendency & dispersions, Correlation, Index Numbers
  3. Sampling methods & Sampling Distribution
  4. Statistical Inferences, Hypothesis testing
  5. Linear Regression Models and their properties – BLUE
  6. Identification Problem
  7. Simultaneous Equation Models : Recursive and Non-recursive
  8. Discrete choice models
  9. Time Series Analysis

Unit-4 MATHEMATICAL ECONOMICS

UGC NET-JRF Economics Syllabus of Mathematical Economics covers Sets, Differential Calculus, Linear Algebra, Input-Output Model, Difference and Differential Equation, etc.

  1. Sets, functions and continuity, sequence, series
  2. Differential Calculus and its Applications
  3. Linear Algebra – Matrices, Vector Spaces
  4. Static Optimization Problems and their applications
  5. Input-Output Model, Linear Programming
  6. Difference and Differential equations with applications

Unit-5 INTERNATIONAL ECONOMICS

UGC NET-JRF Economics Syllabus of International Economics covers Theories of International Trade, Balance of Payments, Exchange Rate, Terms of Trade, IMF, GATT, WTO, etc.

  1. International Trade: Basic concepts and analytical tools
  2. Theories of International Trade
  3. International Trade under imperfect competition
  4. Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms
  5. Exchange Rate: Concepts and Theories
  6. Foreign Exchange Market and Arbitrage
  7. Gains from Trade, Terms of Trade, Trade Multiplier
  8. Tariff and Non-Tariff barriers to trade ; Dumping
  9. GATT, WTO and Regional Trade Blocks; Trade Policy Issues
  10. IMF & World Bank

Unit-6 PUBLIC ECONOMICS

UGC NET-JRF Economics Syllabus of Public Economics covers Market Failure, Public Expenditure, Fiscal Policy, Public Debt, Public Budget, etc.

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

Unit-7 MONEY AND BANKING

UGC NET-JRF Economics Syllabus of Money & Banking covers components of money supply, central bank, commercial banking, non-banking financial institutions, capital market, etc.

  1. Components of Money Supply
  2. Central Bank
  3. Commercial Banking
  4. Instruments and Working of Monetary Policy
  5. Non-banking Financial Institutions
  6. Capital Market and its Regulation

Unit-8 GROWTH AND DEVELOPMENT ECONOMICS

UGC NET-JRF Economics Syllabus of Growth & Development covers Theories of Economic Growth & Development, Technical Progress, Poverty and Inequalities, etc.

  1. Economic Growth and Economic Development
  2. Theories of Economic Development: Adam Smith, Ricardo, Marx, Schumpeter, Rostow, Balanced & Unbalanced growth, Big Push approach.
  3. Models of Economic Growth: Harrod-Domar, Solow, Robinson, Kaldor
  4. Technical progress : Disembodied & embodied; endogenous growth
  5. Indicators of Economic Development: PQLI, HDI, SDGs
  6. Poverty and Inequalities : Concepts and Measurement
  7. Social Sector Development: Health, Education, Gender

Unit-9 Environmental Economics and Demography

UGC NET-JRF Economics Syllabus of Environmental Economics covers Valuation of Environmental Goods, Theories of Population, Demographic Dividend, Coase Theorem, etc.

  1. Environment as a Public Good
  2. Market Failure
  3. Coase Theorem
  4. Cost-Benefit Analysis and Compensation Criteria
  5. Valuation of Environmental Goods
  6. Theories of Population
  7. Concepts and Measures: Fertility, Morbidity, Mortality
  8. Age Structure, Demographic Dividend
  9. Life Table
  10. Migration

Unit-10 Indian Economy

UGC NET-JRF Economics Syllabus of Indian Economy covers Indian Agriculture Sector, Industrial Sector, Services Sector, Rural Development, Urban Development, Infrastructure Development, Poverty, Inequality and Unemployment, etc.

  1. Economic Growth in India: Pattern and Structure
  2. Agriculture: Pattern & Structure of Growth, Major Challenges, Policy Responses
  3. Industry: Pattern & Structure of Growth, Major Challenges, Policy Response
  4. Services: Pattern & Structure of Growth, Major Challenges, Policy Responses
  5. Rural Development – Issues, Challenges & Policy Responses
  6. Urban Development – Issues, Challenges and Policy Responses
  7. Foreign Trade: Structure and Direction, BOP, Flow of Foreign Capital, Trade Policies
  8. Infrastructure Development: Physical and Social; Public-Private Partnerships
  9. Reforms in Land, Labour and Capital Markets
  10. Centre-State Financial Relations and Finance Commissions of India; FRBM
  11. Poverty, Inequality & Unemployment
Download UGC NET-JRF Economics Syllabus

All About UGC NET-JRF Economics Exam

What is UGC NET-JRF Economics Exam?

The UGC NET-JRF (National Eligibility Test-Junior Research Fellowship) in Economics is a prestigious national-level examination conducted by the National Testing Agency (NTA) on behalf of the University Grants Commission (UGC) in India, to determine the eligibility of candidates for Assistant Professor role and awarding Junior Research Fellowship (JRF) in Economics, as well as to facilitate admission to Ph.D. programs in Indian universities and colleges.

The UGC NET-JRF Economics Exam attracts thousands of candidates annually due to its prestigious career benefits, including eligibility for Assistant Professor Economics roles, Junior Research Fellowship stipends, and Ph.D. admission exemptions at top institutions like JNU and IITs.  Its accessibility (no negative marking, no attempt limit) and the absence of an age cap for Assistant Professor roles make it appealing for aspirants in all parts of India.

In Dec-2020 and June-2021 combined cycle, out of the 33,932 candidates who appeared for NET-JRF Economics Exam, 530 candidates qualified for JRF-Economics and 2765 qualified for Assistant Professor Economics roles, keeping the UGC NET-JRF Economics Exam success ratio at 5.2%.

UGC NET-JRF Economics Paper-2 Best Books

To ace the UGC NET-JRF Economics Exam, candidates should prioritize comprehensive textbooks like those by Advanced Economic Theory by HL Ahuja for Microeconomics, Dornbusch & Fischer for Macroeconomics, and Basic Econometrics by Gujarati for Econometrics. Supplementing these with current economic surveys and previous year’s papers is crucial for holistic and exam-oriented preparation, ensuring a strong grasp of both theoretical foundations and contemporary economic issues.

The best books for UGC NET-JRF Economics exam include internationally acclaimed textbooks like “Microeconomics” by Pindyck & Rubinfeld, “Macroeconomics” by N. Gregory Mankiw, “Development Economics” by Debraj Ray, and “Basic Econometrics” by Damodar Gujarati for comprehensive subject preparation. Here’s detailed best booklist for UGC NET-JRF Economics Exam for each subject:

Microeconomics:

  • Advanced Economic Theory by HL Ahuja

The most important book for covering UGC NET-JRF Microeconomics Syllabus is Advanced Economic Theory by HL Ahuja. After covering this book thoroughly, if you want to building stronger mathematical base that helps you in UGC NET-JRF Economics as well as RBI DEPR and Indian Economic Service (IES) Exam, you can refer to the following books of Microeconomics:

  • “Microeconomic Theory: Basic Principles and Extensions” by Walter Nicholson & Christopher Snyder
  • “Microeconomics” by Robert S. Pindyck & Daniel L. Rubinfeld –
  • “Intermediate Microeconomics: A Modern Approach” by Hal R. Varian

Macroeconomics

The most essential book for mastering the UGC NET-JRF Macroeconomics syllabus is ‘Macroeconomics : Theory and Policy’ by H.L. Ahuja. Once you have thoroughly studied this book, if you wish to strengthen your mathematical foundation for exams like UGC NET-JRF Economics, RBI DEPR, and the Indian Economic Service (IES), you can refer to the following advanced Macroeconomics books

  • “Macroeconomics” by N. Gregory Mankiw
  • “Macroeconomics” by Olivier Blanchard
  • “Macroeconomics: Theories and Policies by Richard Froyen”

International Economics:

  • “International Economics” by Dominick Salvatore
  • “International Economics: Theory and Policy” by Paul R. Krugman & Maurice Obstfeld

Development Economics:

  • “Development Economics” by Debraj Ray
  • Economics of Development and Planning by ML Jhingan
  • Economics of Development by AP Thirlwall

Public Economics:

  • “Public Finance” by HL Bhatia
  • “Public Finance in Theory and Practice” by Richard A. Musgrave & Peggy B. Musgrave

Indian Economy:

  • “Indian Economy since Independence: Uma Kapila”
  • “Indian Economy” by Mishra & Puri
  • Economic Survey (Latest Edition – Government of India)
  • Indian Economy by Ramesh Singh

Econometrics and Statistics:

  • “Basic Econometrics” by Damodar N. Gujarati & Dawn C. Porter
  • “Introduction to Econometrics” by Jeffrey M. Wooldridge

Mathematical Economics:

  • Mathematics for Economic Analysis by Sydsaeter & Hammond
  • “Fundamental Methods of Mathematical Economics” by Alpha C. Chiang & Kevin Wainwright

UGC NET Economics Eligibility Criteria

Educational Qualifications:

  • Master’s Degree: Candidates must have a Master’s degree in Economics, Applied Economics, Business Economics, or related subjects with minimum 55% marks (50% for reserved categories)
  • Final Year Students: Those appearing in final year of Master’s degree can also apply
  • Age Limit: Maximum 30 years for JRF (relaxations available for reserved categories)

Relaxation in Minimum Marks:

  • SC/ST/OBC/PwD: 50% marks in Master’s degree
  • General Category: 55% marks in Master’s degree

UGC NET-JRF Economics Previous Papers

Leveraging UGC NET-JRF Economics previous year papers is an indispensable strategy for aspirants aiming to excel. These invaluable resources offer critical insights into the UGC NET Economics exam pattern, question types, and recurring themes, enabling candidates to pinpoint high-weightage topics and optimize their study plans.

Practicing UGC NET-JRF Economics previous year papers is the #1 strategy to crack the exam with a high score! These papers help you understand the exam pattern, identify repeated questions, and improve time management—key for the NTA NET Economics test. By analyzing trending topics like Microeconomics, Macroeconomics, and Indian Economy from past exams, you can focus your study on high-weightage areas.

UGC NET Economics Exam Pattern

Paper Structure:

The UGC NET Economics exam pattern consists of two papers:

Paper 1: Teaching and Research Aptitude

  • Questions: 50 Multiple Choice Questions (MCQs)
  • Marks: 100 marks (2 marks each)
  • Topics: Research methodology, teaching aptitude, reasoning, data interpretation, ICT, people and environment

Paper 2: Economics Subject Paper

  • Questions: 100 Multiple Choice Questions (MCQs)
  • Marks: 200 marks (2 marks each)
  • Topics: Core economics subjects and specialized areas

Important Exam Details:

  • Total Duration: 3 hours
  • Negative Marking: No negative marking
  • JRF Economics Cutoff: While JRF Economics cut-off varies in each exam cycle, serious candidates terget to score within top 5-percentiles to qualify JRF Economics. This means, candidates target scoring among top 5% of candidates.