(Syllabus) Syllabus for Indian Economic Services (General Economics-III)

Syllabus : Syllabus for Indian Economic Services (General Economics-III)


1. Environmental Economics: Club of Rome, Founex report, Stockholm and Rio Earth summit reports, Convention on Biodiversity, Montreal Protocol on CFC, global warming; externalities, public goods, economic implication of various types of environmental degradation - air, noise, water pollution and exhaustion of non-renewable resources; resource accounting, biological wealth and its depletion or accretion as a part of GDP estimates and sustainable development; remedies : regulations, taxes, market based solutions such as privatisation and pollution permits.

2. Urbanisation and migration - Lewis, Todaro; informal sector, urban labour market, urban poverty. 3. Project Appraisal: Criteria for project choices: Internal rate of return, net present value and benefit-costs ratio - social rate of discount - shadow prices of capital, unskilled labour and foreign exchange. Use of project appraisal methods in India.

4. Financial and Capital Markets: finance and economic development -financial markets - stock market, gilt market, foreign exchange market - Banking and insurance.

5. Fiscal policy and its objectives - limitations of fiscal policy - theories of taxation and expenditure - objectives and effects of public expenditure - effects and incidence of taxation - deficit financing - theory of public debt, debt management, complementarity of monetary and fiscal policy with debt.

6. State, Market and Planning: concept and types of planning - rationale of planning in a developing economy - limitations of planning, economics of regulations, decentralised planning.

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