๐ Exam Structure & Marking Scheme
Component Marks Duration
Theory Paper 80 3 hours
Project Work / Internal Assessment 20 โ
Total 100 โ
๐งฎ Parts & Units
The syllabus is divided into two parts:
Part A: Introductory Macroeconomics (40 Marks)
Part B: Indian Economic Development (40 Marks)
Here are the units, their marks, and major topics:
Part Unit No. Unit Title Marks Key Topics / Subtopics
Part A: Introductory Macroeconomics 1 National Income and Related Aggregates 10 What is macroeconomics; Concepts like consumption goods, capital goods, final & intermediate goods; Stocks & flows; Gross investment & depreciation; Circular flow of income (two sector model); Methods of calculating National Income (Value added / Product, Expenditure, Income methods); Aggregates like GDP, GNP, NNP, etc., both at market price and factor cost; Real vs Nominal GDP; GDP deflator; GDP & welfare.
2 Money and Banking 6 Meaning of money; Supply of money (currency held by public, demand deposits); How commercial banks create money; Role and functions of central bank (e.g. Reserve Bank of India); Tools like bank rate, CRR, SLR, repo and reverse repo rates; Open Market Operations; Margin requirements.
3 Determination of Income and Employment 12 Aggregate demand & its components; Propensity to consume & save (average & marginal); Short-run equilibrium output; Investment multiplier and its working; Full employment vs involuntary unemployment; Problems of excess demand & deficient demand; Measures to correct these via change in government spending, taxation, money supply.
4 Government Budget and the Economy 6 What is government budget; Objectives; Components; Classification of receipts (revenue receipts, capital receipts); Classification of expenditure (revenue & capital expenditure); Types of budget: balanced, surplus & deficit budgets; Ways/measures to reduce or handle deficits.
5 Balance of Payments 6 Meaning and components of BOP; Surplus & deficit; Exchange rate โ meaning of fixed, flexible, and managed floating rates; How exchange rates are determined in free market; Merits and demerits of fixed vs flexible; Managed floating system.
Part B: Indian Economic Development 6 Development Experience (1947-90) & Economic Reforms since 1991 12 State of Indian economy just after independence; Goals of Five Year Plans; Key features, problems & policies related to agriculture (institutional aspects, new agricultural strategy), industry (including small scale industry), foreign trade; Reforms since 1991 โ liberalisation, globalisation, privatisation (LPG); also concepts like demonetisation & GST.
7 Current Challenges Facing Indian Economy 20 Human capital formation (how human beings become economic resource; role of education sector); Rural development (credit, marketing, cooperatives; agricultural diversification; organic farming, etc.); Employment (growth, formal vs informal sectors, policies); Sustainable economic development (impact of economic growth on environment & resources; global warming etc.)
8 Development Experience of India โ A Comparison with Neighbours 8 Comparison of India with neighbouring countries (Pakistan, China etc.) in terms of economic growth, population growth, sectoral development, and Human Development Indicators.