CUET has emerged as a pivotal event for countless students across the nation. It has presented a level playing field for securing coveted seats in esteemed universities and colleges. Particularly for those inclined towards a Bachelor’s or Master’s degree in Economics, acquainting oneself with the comprehensive CUET Economics syllabus becomes paramount.
The NTA, entrusted with conducting the CUET 2024 exam, has unveiled the detailed syllabus for Economics on its official website. This syllabus mirrors the Class 12 NCERT curriculum, delving into fundamental economic concepts such as production, consumption, and distribution of goods and services, alongside intricate topics like consumer behavior, money and banking, income determination, and employment dynamics.
Economics, nestled within Section II of CUET, captivates a substantial number of students owing to its diverse syllabus and the promising opportunities it unfolds post-graduation. The 2024 syllabus comprises 10 units, each encompassing multiple sub-topics that form the bedrock of economic understanding.
What distinguishes CUET Economics is not just its breadth but also the updated exam pattern set by NTA. Unlike other subjects, the Economics exam extends to 60 minutes, offering examinees a bit more time to navigate through the MCQ-format questions. Each question presents five options, challenging candidates to demonstrate both depth of knowledge and adept decision-making skills within the stipulated timeframe.
For aspiring economists and students with a passion for understanding the intricacies of economic systems, delving into the CUET Economics syllabus early on is not just a preparatory step but a strategic move towards a fulfilling academic journey. Shall we begin? Come along…
Topics covered
CUET UG Economics Syllabus
The CUET Economics exam comprises a Question Paper with 50 questions, of which 40 must be answered.
MICROECONOMICS
| Unit I: Introduction to Microeconomics | What is microeconomics? Central problems |
| Unit II: Consumer Behaviour and Demand | Consumer’s Equilibrium: meaning and attainment of equilibrium through Utility Approach: One and two commodity cases. Demand: market demand, determinants of demand, demand schedule, demand curve, movement along and shifts in the demand curve, price elasticity of demand, measurement of price elasticity of demand – percentage, total expenditure, and geometric methods |
MACROECONOMICS
| Unit III: National Income and Related Aggregates — Basic Concepts and Measurement | Macroeconomics: meaning. Circular flow of income, concepts of GDP, GNP, NDP, NNP (at market price and factor cost). Measurement of National Income –Value Added method, Income method, and Expenditure method. |
| Unit IV: Determination of Income and Employment | Aggregate demand, aggregate supply, and their components Propensity to consume and propensity to save (average and marginal) Meaning of involuntary unemployment and full employment Determination of income and employment: two-sector model Concept of investment multiplier and its working Problems of excess and deficient demand Measures to correct excess and deficient demand – availability of credit, change in government spending |
| Unit V: Money and Banking | Money: meaning, evolution, and functions Central Bank: meaning and functions Commercial banks: meaning and functions |
| Unit VI: Government Budget and the Economy | Government budget – meaning and its components Objectives of government budget Classification of receipts – revenue and capital; classification of expenditure – revenue and capital, plan and non-plan, and developmental and non-developmental Balanced budget, surplus budget, and deficit budget: meaning and implications Revenue deficit, fiscal deficit, and primary deficit: meaning and implications; measures to contain different deficits. |
| Unit VII: Balance of Payments | Foreign exchange rate – meaning (fixed and flexible), merits and demerits; determination through demand and supply Balance of payments accounts – meaning and components A brief analysis of recent exchange rate issues |
Also, read: CUET Syllabus for Commerce Students
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INDIAN ECONOMIC DEVELOPMENT
| Unit VIII: Development Experience (1947-90) and Economic Reforms since 1991 | A brief introduction of the state of the Indian economy on the eve of independence. Indian economic system and common goals of Five-year Plans. Main features, problems, and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI – role & importance), and foreign trade. |
| Unit IX: Current Challenges Facing the Indian Economy | Poverty – absolute and relative; Main programs for poverty alleviation: A critical assessment; Human Capital Formation – How many people become resource; Role of human capital in economic development. Rural development: Key issues – credit and marketing – role of cooperatives; agricultural diversification. Employment: Growth and changes in workforce participation rate in formal and informal sectors; problems and policies Infrastructure: Meaning and Types: Case Studies: Health: Problems and Policies – A critical assessment. Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming. |
| Unit X: Development Experience in India | A comparison with neighbors India and Pakistan India and China Issues: economic growth, population, sectoral development, and other Human Development Indicators |
If you need any help in understanding whether this is the right course for you or not! Connect with iDreamCareer’s expert counselors in Bangalore. And also, read – CUET University List 2024
CUET PG Economics Syllabus
The question paper will contain 75 questions, all based on subject-specific knowledge, and all questions are mandatory. They will be bilingual (English/Hindi), ensuring accessibility and understanding for all candidates.
| Microeconomics | Consumer Theory or Behavior Production Theory Price and Output Determination in the Market |
| Macroeconomics | National Income Accounting Income and Output Determination Principle, Classical, and Keynesian Theory |
| Money and Inflation | Demand and Supply of Money, Money Multiplier and High-Powered Money, Credit Creation, Role of Reserve Bank of India and Commercial Banks, Quantitative Theories of Money, Philip’s Curve Monetary and Fiscal Policy of India and its role. |
| Consumption and Investment Function | Permanent, Relative, and Life Cycle Hypothesis, determinants of business fixed investment; residential investment and inventory investment, Multiplier and Accelerator Open Economy Models Economic Growth: Harrod-Domra Model, Solow Model |
| Statistical Methods in Economics | Mean, Mode, Median, Dispersion, Skewness, Quartile Deviation, Average Deviation, Standard Deviation Correlation Simple Regression Model Probability Distribution Sampling |
| Mathematical Methods in Economics | Sets and Vector Functions of one and several real variables Single and Multi-variable optimization Integration of functions Difference equations Determinants Matrix Linear Programming Probability Differential Equations |
Indian Economy: Colonial Economy Overview
Macro Trends
- National Income: Marked by disparities due to colonial policies.
- Population: Shifts in demographics due to migration and urbanization.
- Occupational Structure: Dominated by agriculture, limited industrialization.
Agriculture
- Agrarian Structure: Landownership is concentrated among elites.
- Agricultural Markets: Controlled by intermediaries, limited access for farmers.
- Technology: Traditional methods with limited modernization.
- Famines: Occasional but devastating due to poor governance and infrastructure.
Railways and Industry
- Railways: Facilitated resource extraction but limited industrial growth.
- De-industrialization Debate: Impact on traditional industries debated.
- Industrialization: Slow and constrained by colonial policies and labor relations.
- Labor Relations: Exploitative and characterized by low wages and poor working conditions.
Economy and State in the Imperial Context
- Imperial Priorities: Focused on resource extraction and trade.
- Drain of Wealth: Wealth extracted from colonies for imperial benefit.
- International Trade: Controlled by imperial powers, limited benefits for colonies.
New Economic Policy
- Public Economics: Balancing public and private goods, addressing externalities.
- Taxation: Effects on economic behavior, efficiency, and equity considerations.
- International Trade Theories: Historical perspectives from Adam Smith to modern models.
For a complete overview, read – https://cdnasb.samarth.ac.in/v2/2024/pg/pg-site-admin24/syllabus/common-pdf/economics-coqp10-.pdf
Epilogue!
The CUET Economics Syllabus offers a comprehensive exploration of key economic principles and historical contexts. From colonial economy dynamics to modern trade theories, students gain a deep understanding of macroeconomic trends, agricultural systems, industrialization challenges, and the interplay between economy and state, preparing them for diverse career opportunities.
If you need any assistance, you can reach out to iDreamCareer’s expert career counsellors! Here’s one of the success stories:
iDreamCareer’s CUET Expert Counselors provided Niharika with comprehensive psychometric assessments, evaluating her aptitude, personality, and interests. After exploring various career paths, they helped her narrow down her options to Commerce and Business Management, steering her away from pursuing IAS. They clarified the differences between BBA and B.Com courses, aiding her in choosing B.Com (Hons) as her preferred program. They ensured she met application deadlines, supported her in preparing for the CUET exam, and facilitated her CSAS registration for Delhi University colleges. With their guidance, Niharika successfully secured admission to SRCC, her dream college, for BCom Honours, aligning perfectly with her career goals.
Related Links
- CUET English Syllabus
- CUET MBA Syllabus
- CUET Physics Syllabus
- CUET Chemistry Syllabus
- CUET Political Science Syllabus
- CUET Syllabus for Arts Students
FAQs
The difficulty level of the Economics/Business Economics exam varies depending on factors such as the curriculum depth, the complexity of economic theories and models covered, and the individual student’s preparedness and understanding of the subject matter. Generally, it can be considered moderately challenging due to its analytical and application-oriented nature.
To effectively complete the CUET Economics Syllabus, students should focus on a structured study plan. Allocate time for each topic, utilize textbooks and supplementary materials, participate in discussions, and practice with past papers. Stay organized, seek clarification when needed, and regularly review concepts to ensure thorough understanding.
The National Testing Agency’s Common University Entrance Test (CUET) serves as a pathway to renowned undergraduate programs in India. CUET Economics is vital for students aspiring to enroll in UG or PG in Economics or related disciplines, offering a gateway to prestigious universities and colleges.
The time required to cover the entire CUET Economics Syllabus depends on various factors such as the student’s learning pace, study schedule, and prior knowledge. Generally, students may take several months of dedicated study to thoroughly understand and master the syllabus’s concepts and topics.
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