CUET PG 2024 Economics Question Paper And Analysis: Students' Reactions and Expected Cutoff

Micro Economics: 

Consumer Theory or Behavior: Demand, Utility, Indifference Curve, Revealed Preference Theory, Consumer Surplus  Production Theory: Production Function, Law of Variable Proportions, Returns to Scale, Cost Function, types and concepts  Price and Output determination in Market: Perfect and Imperfect Competition (Monopoly, Price Discrimination, Monopolistic, Duopoly and Oligopoly models) General Equilibrium, Efficiency and Welfare: Equilibrium and efficiency under pure exchange and production; overall efficiency and welfare economics, externality 

  Macro Economics: 

National Income Accounting  Income and Output Determination: Aggregate Demand and Aggregate Supply, Effective Demand Principle, Classical and Keynesian Theory 

Money and Inflation: 

Demand and Supply of Money, Money Multiplier and High-Powered Money, Credit Creation, Role of Reserve Bank of India and Commercial Banks, Quantitative Theories of Money, Philip’s Curve  Monetary and Fiscal Policy of India and its role. 

Consumption and Investment Function: 

Permanent, Relative, and Life Cycle Hypothesis, determinants of business fixed investment; residential investment and inventory investment, Multiplier and Accelerator  Open Economy Models: Mundell and Fleming Model (IS, LM and BP curve), Balance of Payments, exchange rate determination, Purchasing Power Parity  Economic Growth: Harrod-Domra Model, Solow Model 

Statistical Methods in Economics: 

Mean, Mode, Median, Dispersion, Skewness, Quartile Deviation, Average Deviation, Standard Deviation  Correlation  Simple Regression Model Probability Distribution Sampling 

Mathematical Methods in Economics: 

Sets and Vector  Functions of one and several real variables Single and Multi-variable optimization   Integration of functions  Difference equations  Determinants Matrix  Linear Programming Probability  Differential Equations 

Indian Economy: 

Overview of the colonial economy:  Macro Trends: National Income; population; occupational structure.  Agriculture: Agrarian structure and land relations; agricultural markets and institutions – credit, commerce, and technology; trends in performance and productivity; famines. Railways and Industry: Railways; the de-industrialization debate; evolution of entrepreneurial and industrial structure; nature of industrialization in the interwar period; constraints to industrial breakthrough; labor relations.  Economy and State in the Imperial Context  The imperial priorities and the Indian economy; drain of wealth; international trade, and capital.  Flows and the colonial economy – changes and continuities; government and fiscal policy.  New Economic Policy:  Public Economics: Public and Private Goods, Externalities, Budget, Deficits, Public Debt, Fiscal Federalism in India,  Taxation: its economic effects; deadweight loss and distortion, efficiency and equity considerations, tax incidence, optimal taxation.  International Trade Theories: Adam Smith, Ricardo, Heckscher-Ohlin model and New Trade Theories

Total No of Questions

75

Marking Scheme

+4 for 1 correct answer

-1 for 1 incorrect answer

0 for not attempted answer

Total Marks

300

170-180

52-57

160-170

42-47

140-150

35-40