Punjab Public Service Commission
SYLLABI FOR THE EXAMINATION
ECONOMICS - CODE NO. (05)
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.
- 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
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:
- 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.