GSET Economics Syllabus

# GSET Economics Syllabus

Brief Information: GSET (Gujarat State Eligibility Test) is exam conducted for Associate Professor by Maharaja Sayajirao University of Baroda, Vadodara. It is conducted once a a year. The Syllabus for Economics and books are given below. You can also download the pdf of syllabus by clicking the link given below

## Syllabus for Economics

### Unit-1 : Micro Economics

• Theory of Consumer Behaviour
• Theory of Production and Costs
• Decision making under uncertainty Attitude towards Risk
• Game Theory – Non Cooperative games
• Market Structures, competitive and non-competitive equilibria and their efficiency properties
• Factor Pricing
• General Equilibrium Analysis
• Efficiency Criteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization
• Welfare Economics: Fundamental Theorems , Social Welfare Function
• Asymmetric Information: Adverse Selection and Moral Hazard

### Unit-2 :Macro Economics

• National Income: Concepts and Measurement
• Determination of output and employment: Classical & Keynesian Approach
• Consumption Function
• Investment Function
• Multiplier and Accelerator
• Demand for Money
• Supply of Money
• IS – LM Model Approach
• Inflation and Phillips Curve Analysis
• Monetary and Fiscal Policy
• Rational Expectation Hypothesis and its critique

### Unit- 3 :Statistics and Econometrics

• Probability Theory: Concepts of probability, Distributions, Moments, Central Limit theorem
• Descriptive Statistics – Measures of Central tendency & dispersions, Correlation, Index Numbers
• Sampling methods & Sampling Distribution
• Statistical Inferences, Hypothesis testing
• Linear Regression Models and their properties –BLUE
• Identification Problem
• Simultaneous Equation Models – recursive andnon-recursive
• Discrete choice models
• Time Series Analysis

### Unit-4 :Mathematical Economics

• Sets, functions and continuity, sequence, series
• Differential Calculus and its Applications
• Linear Algebra – Matrices, Vector Spaces
• Static Optimization Problems and their applications
• Input-Output Model, Linear Programming
• Difference and Differential equations with applications

### Unit-5 :International Economics

• International Trade: Basic concepts and analytical tools
• International Trade under imperfect competition
• Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms
• Exchange Rate: Concepts and Theories
• Foreign Exchange Market and Arbitrage
• Tariff and Non-Tariff barriers to trade;Dumping
• IMF & World Bank

### Unit-6 :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
• Fiscal Policy and its implications

### Unit-7 :Money and Banking

• Components of Money Supply
• Central Bank
• Commercial Banking
• Instruments and Working of Monetary Policy
• Non-banking Financial Institutions
• Capital Market and its Regulation

### Unit-8 :Growth and Development Economics

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

### Unit-9 : Environmental Economics and Demography

• Environment as a Public Good
• Market Failure
• Coase Theorem
• Cost-Benefit Analysis and Compensation Criteria
• Valuation of Environmental Goods
• Theories of Population
• Concepts and Measures: Fertility, Morbidity, Mortality
• Age Structure, Demographic Dividend
• Life Table
• Migration

### Unit-10 :Indian Economy

• Economic Growth in India: Pattern and Structure
• Agriculture: Pattern & Structure of Growth, Major Challenges, Policy Responses
• Industry: Pattern & Structure of Growth, Major Challenges, Policy Responses
• Services: Pattern & Structure of Growth, Major Challenges, Policy Responses
• Rural Development – Issues, Challenges & Policy Responses
• Urban Development – Issues, Challenges and Policy Responses.
• Foreign Trade: Structure and Direction, BOP, Flow of Foreign Capital, Trade Policies
• Infrastructure Development: Physical and Social; Public-Private Partnerships
• Reforms in Land, Labour and Capital Markets
• Centre-State Financial Relations and Finance Commissions of India; FRBM
• Poverty, Inequality & Unemployment
GSET Economics Syllabus
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