(Syllabus) Punjab PSC (Pre) : Combined State Civil Services Exam - Economics

SYLLABI FOR THE EXAMINATION PART-B PRELIMINARY EXAMINATION

Micro-Economics.:

• Production : Agents of Production; Costs and Supply; Isoquants;
• Consumption and Demand: Elasticity concept;
• Market Structures and concepts of equilibrium;
• Determination of prices;
• Components and Theories of Distribution;
• Elementary Concepts of Welfare Economics : Pareto-optimality:  Private and social products: consumers surplus.

2. Macro-Economics.:

• National Income concepts;
• Determinants of National Income Employment;
• Determinants of consumption, savings and Investment;
• Rate of Interest and its determination;
• Interest and profit.

3. Money, Banking and Public Finance.:

• Concepts of Money and measures of money supply; velocity of money;
• Banks and credit creation: Banks and portfolio management;
• Central Bank and control over money supply;
• Determination of the price level;
• Inflation, its causes and remedies;
• Public Finance: Budget: Taxes and non-tax revenues: Types of Budget deficits.

4. International Economics.:

• Theories of International Trade: comparative costs:  Heckscher: Ohlin: Gains from Trade: Terms of Trade.
• Free Trade and Protection.
• Balance of Payments Accounts and Adjustment.
• Exchange rate under free exchange markets.
• Evolution of the International Monetary Systems and World Trading order:  Gold Standard: the Bretton woods system:  IMF and the World Bank and their associates: Floating rates: GATT and WTO

5. Growth and Development.:

• Meaning and measurement of growth; Growth, distribution and Welfare ;
• Characteristics of underdevelopment;
• Stages of Development;
• Sources of growth: capital, Human capital, population, productivity, Trade and aid, noneconomic factors; growth Strategies, (5) Planning in a mixed economy: Indicative planning: Planning and growth.
• Economic Statistics.: Types of averages: measures of dispersion: correlation:  Index numbers; types, uses and limitations.

Part-II: Indian Economics

• Main features; Geographic size: Endowment of natural resources, Population; size, composition quality and growth trend: Occupational distribution: Effects of British Rule with reference to Drain theory and Laissez Faire policy.
• Major problems, their dimensions, nature and broad causes; Mass poverty:  Unemployment and its types: Economic effects of population pressure: Inequality and types thereof: Low productivity and low per capita income, Rural: urban disparities: Foreign Trade and payments imbalances. Balance of Payments and External Debt: Inflation, and parallel economy and its effects: Fiscal deficits.
• Growth in income and employment since Independence: Rate, Pattern, Sectoral trends: Distributional Changes: Regional disparities.
• Economic Planning in India : Major controversies on planning in India: Alternative strategies: goals and achievements, shortfalls of different plans: planning and the Market.
• Broad Fiscal, monetary, industrial trade and agricultural policies: objectives, rationale, constraints and effects.