MPSC Economics Syllabus 2024

• Marshallian and Walrasian Methods for Determining Prices.
• Alternative Theories of Distribution: Kaldor, Kalecki, and Ricardo.
• Market Structure: Oligopoly, Duopoly, and Monopolistic Competition.
• The Arrow Impossibility Theorem, Pareto Hicks and Scitovsky, and A. K. Sen’s Social Welfare Function are examples of modern welfare criteria.

• Keynes-style classical (IS-LM) curve
• New classical theories of interest rate determination and neoclassical synthesis
• Structure of Interest Rates

• Demand and Supply for Money: The Quantity of Money Multiplier The objectives and tools of monetary management in closed and open economies are discussed in Fisher, Pigou, and Friedman’s Theory of Money as well as Keynes’ Theory on Demand for Money. The Treasury and Central Bank’s relationship. A proposal to cap the rate of money growth
• The Function of Public Finance in a Market Economy in distribution, development, resource allocation, and supply stabilization. sources of government funding, types of taxes and subsidies, as well as the prevalence and results of each. restrictions on taxes, borrowing, crowding out effects, and loans. Public spending and its consequences

• Offer Curve and Comparative Advantage Terms of Trade.
• Theories of the Product Cycle and Strategic Trade
• Trade as a catalyst for economic expansion and theories of underdevelopment in open economies

2. Tariff and quota systems are forms of protection.

3. Adjustments to the Balance of Payments: Different Strategies

• Price in relation to income, and income modifications with fixed exchange rates.
• Policy Mix Theories.
• Changes in exchange rates in the context of capital mobility
• Currency Boards: The Effects of Floating Rates on Developing Nations.
• Trade Policy in Emerging Nations.
• The macro-model of an open economy incorporating BOP, adjustments, and policy coordination.
• Attacks based on speculation.
• Monetary unions and trade blocs.
• WTO: TRIMS, TRIPS, Domestic Policies, and Various WTO Roundtables

• Theories of growth include the Lewis model of development with excess labor and Harrod’s model.
• Unbalanced Growth That Is Balanced.
• Human Resources and Economic Development.
• Growth in the economy and research and development.
• Less developed nations’ economic development process: Myrdal and Kuznets’ views on structural change and economic development The contribution of agriculture to the economic development of developing nations.
• The role of multinational corporations in economic development, international trade, and investment.
• The evolving role of markets and planning, as well as private-public partnerships, in planning and economic development.
• Human Development Indices are metrics of growth and welfare. the approach of basic needs.
• Development and Environmental Sustainability: Development of Intergenerational Equity, Environmental Degradation, Renewable and Nonrenewable Resources.

• Land System and its modifications, Agriculture’s commercialization Drain theory, critique, and laissez faire theory.
• Production and Delivery: Jute, Cotton, Banknotes, Trains, and Credit.

• Vakil, Gadgil, and V.K.R.V. Rao’s contribution.
• Agriculture: Green Revolution, capital formation in agriculture, and land reforms and tenure systems.
• Growth and Composition Trends in the Industry role of small-scale and cottage enterprises, as well as the public and private sectors.
• Patterns, trends, aggregate and sectoral composition, and changes in national and per capita income are presented.
• broad variables affecting the distribution of national income, metrics for assessing poverty, patterns of inequality, and poverty.

• Agriculture and New Economic Reform: WTO and Agriculture, Food processing; subsidies; public distribution system and agricultural prices; and the effect of public spending on agricultural growth.
• The industrialization, privatization, disinvestment, and role of foreign direct investment and multinational corporations in the context of the new economic policy and industry.
• Trade and Intellectual Property Rights in the New Economic Policy: The Significance of TRIPS, TRIMS, GATS, and the New EXIM Policy.
• Convertibility of capital accounts, both partial and complete, is part of the new exchange rate regime.
• The Fiscal Responsibility Act, Twelfth Finance Commission, Fiscal Federalism, and Fiscal Consolidation are examples of New Economic Policy and Public Finance.
• A new monetary system and economic policy. RBI’s function under the new system. (vii) Planning: The 73rd and 74th constitutional amendments; moving from central planning to indicative planning; the relationship between planning and markets for growth; and decentralized planning.

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