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

Punjab Public Service Commission



Part-I: General 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.