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The candidates will be expected to illustrate theory by facts, and to analyse problems with the help of theory. Candidates will be required to write an essay in English. Other questions will be designed to test their understanding of English and workmanlike use of words.
Passages will usually be set for summary or precis. General Studies General Knowledge including knowledge of Loanable funds theory events and of such matters of every day observation and experience in their scientific aspects as may be expected of an educated person who has not made a special study of any scientific subject.
The paper will also include questions on Indian Polity including the political system and the Constitution of India, History of India and Geography of a nature which the candidate should be able to answer without special study.
General Economics-I Part A: Duality and indirect utility function and expenditure function, Choice under risk and uncertainty.
Factors of production and production function. Forms of Production Functions: Laws of return, Returns to scale and Return to factors of production. Duality and cost function, Measures of productive efficiency of firms, technical and allocative efficiency. Partial Equilibrium versus General Equilibrium approach.
Equilibrium of the firm and industry. Pricing under different market structures, public sector pricing, marginal cost pricing, peak load pricing, cross-subsidy free pricing and average cost pricing.
Marshallian and Walrasian stability analysis. Pricing with incomplete information and moral hazard problems.
Neo classical distribution theories; Marginal productivity theory of determination of factor prices, Factor shares and adding up problems.
Macro-distribution theories of Ricardo, Marx, Kaldor, Kalecki. Inter-personal comparison and aggregation problem, Public goods and externality, Divergence between social and private welfare, compensation principle.
Social choice and other recent schools, including Coase and Sen and Game theory.
Quantitative Methods in Economics: Mathematical Methods in Economics: Differentiation and Integration and their application in economics. Optimisation techniques, Sets, Matrices and their application in economics.
Linear algebra and Linear programming in economics and Input-output model of Leontief. Statistical and Econometric Methods: Measures of central tendency and dispersions, Correlation and Regression, Time series, Index numbers, Sampling and Survey methods, Testing of hypothesis, simple non-parametric tests.
Drawing of curves based on various linear and non-linear function. Least square methods and other multivariate analysis only concepts and interpretation of results.
Analysis of Variance, Factor analysis, Principle component analysis, Discriminant analysis. Pareto law of Distribution, lognormal distribution, measurement of income inequality.
Lorenze curve and Gini coefficient. Concept of National Income and Social Accounting: Measurement of National Income, Inter relationship between three measures of national income in the presence of the Government sector and International transactions.
Environmental considerations, Green national income. Theory of employment, Output, Inflation, Money and Finance: The Classical theory of Employment and Output and Neo classical approaches.THE MODERN APPROACH. The modern approach is the restatement of the quantity theory in modern terms.
It resulted in a new and more sophisticated the quantity theory and in . In this scheme, funds move between the public, the banks and the central bank without any barriers. Each bank is a financial intermediary, but in aggregate, due to fractional reserve banking, money is created (multiplied) in the banking system.
Can banks individually create money out of nothing? — The theories and the empirical evidence ☆. UPSC IES/ISS Exam Syllabus Details: Union Public Service Commission conducts Indian Economic Service (IES) and Indian Statistical Service (ISS) Exam every year.
modern real estate portfolio management (mrepm) real estate in a capital market context, portfolio diversification and optimization applications to western regional. In the capital budget, the main items of receipts are market borrowings by the government from the Banks and other financial institutions, foreign aid, small savings (i.e., .