IIT JAM Economics Syllabus

The IIT JAM (Joint Admission Test for M.Sc.) Economics paper evaluates candidates’ understanding of economic principles, quantitative methods, and their applications. The syllabus is designed to cover a broad range of topics essential for advanced studies in economics.

1. Microeconomics

• Consumer Theory

  • Basic concepts: Preferences, utility functions, budget constraints.
  • Optimal consumption: Marginal utility, consumer equilibrium.
  • Demand theory: Derivation of demand curves, elasticity, and consumer surplus.

• Producer Theory

  • Production functions: Types, properties, and optimization.
  • Cost functions: Short-run and long-run costs, economies of scale.
  • Profit maximization and supply curves.

• Market Structures

  • Perfect competition: Characteristics, equilibrium, and welfare analysis.
  • Monopoly: Price setting, welfare implications, and regulation.
  • Oligopoly: Models such as Cournot, Bertrand, and Stackelberg.
  • Monopolistic competition: Product differentiation and market outcomes.

• General Equilibrium and Welfare Economics

  • General equilibrium theory: Walrasian equilibrium and Pareto efficiency.
  • Welfare economics: Social welfare functions, public goods, and externalities.

2. Macroeconomics

• National Income Accounting

  • Measurement: GDP, GNP, and national income.
  • Concepts: Real vs. nominal GDP, inflation, and deflation.

• Economic Growth

  • Growth theories: Solow growth model, endogenous growth theory.
  • Factors affecting growth: Capital accumulation, technological progress, and human capital.

• Business Cycles

  • Phases of business cycles: Expansion, peak, recession, and trough.
  • Theories of business cycles: Real business cycle theory, Keynesian theory.

• Monetary and Fiscal Policy

  • Monetary policy: Tools, transmission mechanism, and central bank policies.
  • Fiscal policy: Government spending, taxation, and budget deficits.

• International Economics

  • Trade theories: Comparative advantage, Heckscher-Ohlin model.
  • Trade policies: Tariffs, quotas, and trade agreements.
  • Exchange rates and balance of payments.

Download IIT JAM Economics Syllabus PDF

The comprehensive IIT JAM Economics syllabus PDF is available on the official IIT JAM website. This document provides a detailed outline of the syllabus for the exam, covering both the core subject knowledge and any additional sections included in the test. It includes subject-specific details, exam pattern, weightage, and other critical information necessary for candidates.

Accessing the PDF of the syllabus is crucial for organized preparation, as it enables candidates to plan their study strategy effectively. To download the most recent official IIT JAM Economics syllabus PDF, candidates can use the direct link available on the IIT JAM website.

This syllabus guide equips candidates with the essential information needed to excel in the IIT JAM Economics exam, ensuring their preparation is in line with the prescribed curriculum.