Paper 2 · Economics · Code 01
UGC NET Paper 2 — Economics (01)
Economics (subject code 01) is the subject paper (Paper 2) for candidates in this subject. It carries 100 questions for 200 marks (+2 per correct answer, no negative marking), attempted together with Paper 1 in the single 180-minute combined session. The syllabus below is the verified official syllabus, organised unit-wise; chapters and practice questions appear as they are published, and nothing is marked complete before it exists.
100 questions
200 marks · +2 per correct · No negative marking · Paper 2 within the 180-min combined session
10 units · 65 topics
Full syllabus below, with topic summaries
40 practice questions · 65 premium chapters
Easy 10 · Medium 20 · Hard 10 — all original practice; verified PYQs live separately in the PYQ Library
Syllabus
Complete syllabus — all units and topics
Topic summaries are the unit study material already published on NETSaathi. Weightage badges are platform estimates from past-question frequency — they are not NTA guarantees.
Unit 1: Micro Economics
व्यष्टि अर्थशास्त्र · 4 bank questions · 9 premium chapters- Theory of consumer behaviour — Theory of consumer behaviour.High weightage
- Theory of production and costs — Theory of production and costs.High weightage
- Decision making under uncertainty and risk — Decision making under uncertainty, attitude towards risk.Medium
- Game theory: non-cooperative games — Game theory: non-cooperative games.Medium
- Market structures and equilibria — Market structures, competitive and non-competitive equilibria and their efficiency properties.High weightage
- Factor pricing — Factor pricing.Medium
- General equilibrium analysis — General equilibrium analysis.Medium
- Efficiency criteria and welfare economics — Efficiency criteria: Pareto-optimality, Kaldor-Hicks and wealth maximisation; welfare economics: fundamental theorems, social welfare function.High weightage
- Asymmetric information — Asymmetric information: adverse selection and moral hazard.Medium
Theory of consumer behaviour → premium chapter · free preview · ~12 min
Theory of production and costs → premium chapter · free preview · ~12 min
Decision making under uncertainty and risk → premium chapter · free preview · ~10 min
Game theory: non-cooperative games → premium chapter · free preview · ~11 min
Market structures and equilibria → premium chapter · free preview · ~12 min
Factor pricing → premium chapter · free preview · ~11 min
General equilibrium analysis → premium chapter · free preview · ~11 min
Efficiency criteria and welfare economics → premium chapter · free preview · ~11 min
Asymmetric information → premium chapter · free preview · ~10 min
Unit 2: Macro Economics
समष्टि अर्थशास्त्र · 4 bank questions · 5 premium chapters- National income: concepts and measurement — National income: concepts and measurement.High weightage
- Determination of output and employment — Determination of output and employment: classical and Keynesian approach.High weightage
- Consumption, investment, multiplier, accelerator — Consumption function, investment function, multiplier and accelerator.High weightage
- Demand and supply of money, IS-LM model — Demand for money, supply of money, IS-LM model approach.High weightage
- Inflation, business cycles and policy — Inflation and Phillips curve analysis, business cycles, monetary and fiscal policy, rational expectation hypothesis and its critique.Medium
National income: concepts and measurement → premium chapter · free preview · ~11 min
Determination of output and employment → premium chapter · free preview · ~11 min
Consumption, investment, multiplier, accelerator → premium chapter · free preview · ~11 min
Demand and supply of money, IS-LM model → premium chapter · free preview · ~12 min
Inflation, business cycles and policy → premium chapter · free preview · ~12 min
Unit 3: Statistics and Econometrics
सांख्यिकी और अर्थमिति · 4 bank questions · 6 premium chapters- Probability theory and distributions — Probability theory: concepts of probability, distributions, moments, central limit theorem.High weightage
- Descriptive statistics — Descriptive statistics: measures of central tendency and dispersions, correlation, index numbers.Medium
- Sampling and statistical inference — Sampling methods and sampling distribution, statistical inferences, hypothesis testing.High weightage
- Linear regression models and BLUE — Linear regression models and their properties: BLUE.High weightage
- Identification and simultaneous equations — Identification problem, simultaneous equation models: recursive and non-recursive.Medium
- Discrete choice models and time series — Discrete choice models, time series analysis.Medium
Probability theory and distributions → premium chapter · free preview · ~11 min
Descriptive statistics → premium chapter · free preview · ~11 min
Sampling and statistical inference → premium chapter · free preview · ~11 min
Linear regression models and BLUE → premium chapter · free preview · ~12 min
Identification and simultaneous equations → premium chapter · free preview · ~12 min
Discrete choice models and time series → premium chapter · free preview · ~11 min
Unit 4: Mathematical Economics
गणितीय अर्थशास्त्र · 4 bank questions · 6 premium chapters- Sets, functions, continuity, sequences, series — Sets, functions and continuity, sequence, series.Medium
- Differential calculus and applications — Differential calculus and its applications.High weightage
- Linear algebra: matrices and vector spaces — Linear algebra: matrices, vector spaces.High weightage
- Static optimisation problems — Static optimisation problems and their applications.Medium
- Input-output model and linear programming — Input-output model, linear programming.Medium
- Difference and differential equations — Difference and differential equations with applications.Medium
Sets, functions, continuity, sequences, series → premium chapter · free preview · ~9 min
Differential calculus and applications → premium chapter · free preview · ~10 min
Linear algebra: matrices and vector spaces → premium chapter · free preview · ~10 min
Static optimisation problems → premium chapter · free preview · ~11 min
Input-output model and linear programming → premium chapter · free preview · ~11 min
Difference and differential equations → premium chapter · free preview · ~10 min
Unit 5: International Economics
अंतर्राष्ट्रीय अर्थशास्त्र · 4 bank questions · 5 premium chapters- International trade: concepts and theories — International trade: basic concepts and analytical tools, theories of international trade.High weightage
- Trade under imperfect competition — International trade under imperfect competition.Medium
- Balance of payments and exchange rates — Balance of payments: composition, equilibrium and disequilibrium and adjustment mechanisms; exchange rate: concepts and theories.High weightage
- Foreign exchange market and gains from trade — Foreign exchange market and arbitrage, gains from trade, terms of trade, trade multiplier.Medium
- Tariffs, WTO, IMF and World Bank — Tariff and non-tariff barriers to trade, dumping, GATT, WTO and regional trade blocks, trade policy issues, IMF and World Bank.Medium
International trade: concepts and theories → premium chapter · free preview · ~12 min
Trade under imperfect competition → premium chapter · free preview · ~10 min
Balance of payments and exchange rates → premium chapter · free preview · ~12 min
Foreign exchange market and gains from trade → premium chapter · free preview · ~10 min
Tariffs, WTO, IMF and World Bank → premium chapter · free preview · ~12 min
Unit 6: Public Economics
लोक अर्थशास्त्र · 4 bank questions · 5 premium chapters- Market failure and public goods — Market failure and remedial measures: asymmetric information, public goods, externality.High weightage
- Regulation of markets — Regulation of market: collusion and consumers’ welfare.Medium
- Public revenue and taxation — Public revenue: tax and non-tax revenue, direct and indirect taxes, progressive and non-progressive taxation, incidence and effects of taxation.High weightage
- Public expenditure and public debt — Public expenditure, public debt and its management.Medium
- Public budget and fiscal policy — Public budget and budget multiplier, fiscal policy and its implications.Medium
Market failure and public goods → premium chapter · free preview · ~11 min
Regulation of markets → premium chapter · free preview · ~11 min
Public revenue and taxation → premium chapter · free preview · ~11 min
Public expenditure and public debt → premium chapter · free preview · ~11 min
Public budget and fiscal policy → premium chapter · free preview · ~11 min
Unit 7: Money and Banking
मुद्रा और बैंकिंग · 4 bank questions · 5 premium chapters- Components of money supply — Components of money supply.Medium
- Central bank — Central bank.High weightage
- Commercial banking — Commercial banking.High weightage
- Instruments and working of monetary policy — Instruments and working of monetary policy.High weightage
- Non-banking financial institutions and capital market — Non-banking financial institutions, capital market and its regulation.Medium
Components of money supply → premium chapter · free preview · ~10 min
Central bank → premium chapter · free preview · ~10 min
Commercial banking → premium chapter · free preview · ~10 min
Instruments and working of monetary policy → premium chapter · free preview · ~11 min
Non-banking financial institutions and capital market → premium chapter · free preview · ~10 min
Unit 8: Growth and Development Economics
वृद्धि और विकास अर्थशास्त्र · 4 bank questions · 7 premium chapters- Economic growth and economic development — Economic growth and economic development.High weightage
- Theories of economic development — Theories of economic development: Adam Smith, Ricardo, Marx, Schumpeter, Rostow, balanced and unbalanced growth, big push approach.High weightage
- Models of economic growth — Models of economic growth: Harrod-Domar, Solow, Robinson, Kaldor.High weightage
- Technical progress and endogenous growth — Technical progress: disembodied and embodied; endogenous growth.Medium
- Indicators of economic development — Indicators of economic development: PQLI, HDI, SDGs.Medium
- Poverty and inequalities — Poverty and inequalities: concepts and measurement.Medium
- Social sector development — Social sector development: health, education, gender.Medium
Economic growth and economic development → premium chapter · free preview · ~10 min
Theories of economic development → premium chapter · free preview · ~11 min
Models of economic growth → premium chapter · free preview · ~12 min
Technical progress and endogenous growth → premium chapter · free preview · ~11 min
Indicators of economic development → premium chapter · free preview · ~10 min
Poverty and inequalities → premium chapter · free preview · ~11 min
Social sector development → premium chapter · free preview · ~10 min
Unit 9: Environmental Economics and Demography
पर्यावरणीय अर्थशास्त्र और जनसांख्यिकी · 4 bank questions · 6 premium chapters- Environment as a public good — Environment as a public good.Medium
- Market failure, Coase theorem, valuation — Market failure, Coase theorem, cost-benefit analysis and compensation criteria, valuation of environmental goods.High weightage
- Theories of population — Theories of population.Medium
- Fertility, morbidity and mortality — Concepts and measures: fertility, morbidity, mortality.Medium
- Age structure and demographic dividend — Age structure, demographic dividend.Medium
- Life table and migration — Life table, migration.Medium
Environment as a public good → premium chapter · free preview · ~10 min
Market failure, Coase theorem, valuation → premium chapter · free preview · ~11 min
Theories of population → premium chapter · free preview · ~10 min
Fertility, morbidity and mortality → premium chapter · free preview · ~11 min
Age structure and demographic dividend → premium chapter · free preview · ~10 min
Life table and migration → premium chapter · free preview · ~11 min
Unit 10: Indian Economy
भारतीय अर्थव्यवस्था · 4 bank questions · 11 premium chapters- Economic growth in India: pattern and structure — Economic growth in India: pattern and structure.High weightage
- Agriculture: growth, challenges, policy — Agriculture: pattern and structure of growth, major challenges, policy responses.High weightage
- Industry: growth, challenges, policy — Industry: pattern and structure of growth, major challenges, policy responses.High weightage
- Services: growth, challenges, policy — Services: pattern and structure of growth, major challenges, policy responses.Medium
- Rural development — Rural development: issues, challenges and policy responses.Medium
- Urban development — Urban development: issues, challenges and policy responses.Medium
- Foreign trade and capital flows — Foreign trade: structure and direction, BOP, flow of foreign capital, trade policies.Medium
- Infrastructure development — Infrastructure development: physical and social; public-private partnerships.Medium
- Reforms in land, labour and capital markets — Reforms in land, labour and capital markets.Medium
- Centre-state financial relations and FRBM — Centre-state financial relations and Finance Commissions of India; FRBM.Medium
- Poverty, inequality and unemployment — Poverty, inequality and unemployment.High weightage
Economic growth in India: pattern and structure → premium chapter · free preview · ~10 min
Agriculture: growth, challenges, policy → premium chapter · free preview · ~10 min
Industry: growth, challenges, policy → premium chapter · free preview · ~10 min
Services: growth, challenges, policy → premium chapter · free preview · ~10 min
Rural development → premium chapter · free preview · ~10 min
Urban development → premium chapter · free preview · ~10 min
Foreign trade and capital flows → premium chapter · free preview · ~10 min
Infrastructure development → premium chapter · free preview · ~10 min
Reforms in land, labour and capital markets → premium chapter · free preview · ~11 min
Centre-state financial relations and FRBM → premium chapter · free preview · ~11 min
Poverty, inequality and unemployment → premium chapter · free preview · ~11 min
Study material
Free sample material
Decision making under uncertainty and risk
Premium chapter · free preview · ~10 min · Unit 1
Read free previewGame theory: non-cooperative games
Premium chapter · free preview · ~11 min · Unit 1
Read free previewPremium detailed material — preview
Premium chapters are published for this subject: 65 topic chapters, each with a free preview; the full chapter, diagrams, worked problems and practice questions unlock with Premium.
Economics Test Series — ₹499 ₹999 · Unlocks all premium chapters (Economics) for 365 days
Premium packs are on sale — checkout works (test mode). Buying is optional: the notes and practice above stay free during launch.
See pricingPractice
Sample MCQs from the real bank
These are original practice questions with original explanations — not official NTA questions. The full bank for this subject holds 40 questions.
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Unit-wise tests
Full mock — not published yet
A 100-question full mock needs a much larger bank than the 40 questions published for this subject today, so no full mock is linked here. Unit tests above are available wherever bank questions exist. The combined 150-question mock covers Paper 1 + CS only.
Premium question bank — preview
Premium will add difficulty-wise sets, numerical and analytical sets where the syllabus needs them, and full detailed solutions for every question. The 40 questions above are the free bank available today; premium sets are not published yet, so nothing here is locked that you already need.
Previous year questions
PYQ section
Verified official PYQs — see the live count
A question is only listed as an official PYQ when its original paper and final answer key have been verified. The PYQ Library shows the live published count and the papers themselves — open it to see what is verified for this subject. Until then, nothing here is presented as an official NTA paper, and no year or session is attached to any practice question. NetSaathi is not affiliated with NTA/UGC.
Open PYQ pageStrategy
Preparation strategy for this subject
- Start with the high-weightage topics — Theory of consumer behaviour, Theory of production and costs, Market structures and equilibria, Efficiency criteria and welfare economics, National income: concepts and measurement — and finish their chapter previews first.
- Read one unit, then test it the same day: each unit page ends with its own unit test, so gaps show up while the material is fresh.
- Use the unit-wise result report: after every test, revise the units where accuracy is lowest before starting a new unit.
- Attempt every question in mocks: there is no negative marking, so an unattempted question is a guaranteed zero.
- Finish with unit tests: take every available unit test under timed conditions; full mocks for this subject arrive once the bank is large enough for a 100-question paper.
Revision
Important topics & revision resources
Important topics (high weightage)
- Unit 1: Theory of consumer behaviour
- Unit 1: Theory of production and costs
- Unit 1: Market structures and equilibria
- Unit 1: Efficiency criteria and welfare economics
- Unit 2: National income: concepts and measurement
- Unit 2: Determination of output and employment
- Unit 2: Consumption, investment, multiplier, accelerator
- Unit 2: Demand and supply of money, IS-LM model
- Unit 3: Probability theory and distributions
- Unit 3: Sampling and statistical inference
- Unit 3: Linear regression models and BLUE
- Unit 4: Differential calculus and applications
- Unit 4: Linear algebra: matrices and vector spaces
- Unit 5: International trade: concepts and theories
- Unit 5: Balance of payments and exchange rates
- Unit 6: Market failure and public goods
- Unit 6: Public revenue and taxation
- Unit 7: Central bank
- Unit 7: Commercial banking
- Unit 7: Instruments and working of monetary policy
- Unit 8: Economic growth and economic development
- Unit 8: Theories of economic development
- Unit 8: Models of economic growth
- Unit 9: Market failure, Coase theorem, valuation
- Unit 10: Economic growth in India: pattern and structure
- Unit 10: Agriculture: growth, challenges, policy
- Unit 10: Industry: growth, challenges, policy
- Unit 10: Poverty, inequality and unemployment
Revision resources
- Premium chapters (65) → free previews; full chapters unlock with Premium.
- Study planner → plan revision around the exam countdown.