WBCS Exe Etc Exam Main Optional Subject Economics Syllabus

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Paper – I :

1. Microeconomic Theory

i. Consumer Theory ii. Production and cost- returns to scale, short run and long run costs iii. Market Structure-Perfect competition, Monopoly, Monopolistic Competition, Oligopoly. iv. General Equilibrium and Welfare (optimality of perfect competition) v. Marginal Productivity Theory of Distribution

2. Macroeconomic Theory

i. National Income Accounting ii. Economy in the long run, market economy, economy in the short run, Fiscal and Monetary policy using IS-LM, Growth Theory—Harrod-Domar Model, Solow Model, Endogenous Growth.

3. International Trade Theory

i. Classical — Ricardo, Neoclassical – Hecksher- Ohlin ii. Imperfect competition and trade , Intra-industry trade iii. Trade Policy—Tariff, Quota iv. Current and Capital Account in Balance of Payments, Fixed and Flexible exchange rate systems v. Open economy macroeconomics — Mundell-Fleming model

4. Public Finance

a. Theory of externality and market failure b. Public Goods and Role of the Public Sector c. Budget — Different concepts d. Tax—indirect and direct, VAT, subsidy and transfers e. Public debt and its burden

5. Statistics & Econometrics

1. Measures of Central Tendency & Dispersion 2. Theory of Probability 3. Sampling Theory 4. Inference 5. Econometrics—Classical Linear Regression Model

Paper – II :

1. Development

(a) Process of development Lewis Model, Harris Todaro Model, Demographic change and occupational transformation (b) Trade and Development, Trade as an engine of growth (c) Planning vs. Market Model of Development,Poverty and Inequality (d) Capability and Human Development including issues of Gender (e) Environment and development

2. The Indian Economy

(a)Pre-independence Land system, Commercialisation of agriculture Deindustrialisation, Drain Theory, Development of Indian Railways, 73rd and 74th acts. (b)Post-independence, Planning models and experience till Seventh Plan Change in composition of national income—Agriculture, Industry & Services., Agriculture—Green Revolution, Industry—Role of Public Sector (c)Post-Liberalisation, Changing role of Planning (from centralised to indicative, participatory and decentralised planning.), Salient features of NEP, Progress in Reforms—1st and 2nd generation Reforms, Role of WTO & IMF, Monetary and Fiscal Policies, Poverty and inequality, Functions of money. (d) The West Bengal Economy- A historical perspective i. Brief economic history of the colonial period. ii. Economic & demographic consequences of Partition. iii. Evolution of Land and Tenancy Reforms (1950-1980) and its,economic consequence iv. Changing composition of SDP v. Social development indicators-health, education, environment vi. West Bengal: in relation to other major States of India.

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