Net Economics #Classical Economists and their work# Economic theory

 Net Economics #Classical Economists and their work# Economic theory Pls follow , like and share Classical economics, also known as classical political economy, is a school of economic thought that emerged in the late 18th and early 19th centuries. It laid the foundation for modern economics and was dominant until the late 19th century. Classical economists focused on understanding the mechanisms of economic growth, production, and distribution of goods and services in market economies significant contributions and the years in which they were active: Adam Smith (1723-1790): Major Work: "The Wealth of Nations" (1776) Contributions: Smith is often referred to as the father of economics. In "The Wealth of Nations," he introduced the concept of the invisible hand, arguing that individuals pursuing their own self-interest in a free market economy unintentionally promote the general welfare. He also discussed the division of labor, productivity, and the role of markets i

Complete Information of Net Economics,Management & Commerce

 Complete Information of Net Economics, Management & Commerce

Net EconoProfessionalsent and Commerce


UGC NET 2022 Eligibility Criteria for JRF (Junior Research Fellowship) and Assistant Professorship are differentCandidates must check the detailed eligibility criteria for the fellowship to which he/she is interested in applying. Recently, the upper age limit for JRF has been increased from 30 years to 31 years. Also, candidates applying must have obtained a least 55% marks in their Master’s Degree.

UGC NET Eligibility: Educational Qualification

Educational Qualification

Candidates securing at least 55% marks in their Master’s Degree or equivalent from a recognized  university in Humanities,Economics, Commerce , Management ,Social Science, Computer Science and Applications, Electronic Science, etc. are eligible to appear for  NTA.

  • However, candidates belonging to the Non-Creamy Layer of Other Backward Classes (OBC-NC), Scheduled Caste (SC), Scheduled Tribe (ST), Persons with Disability (PwD), and Transgender category have to score at least 50% marks. 
  • Candidates who are pursuing their Master’s degree or are waiting for their result or whose qualifying examinations have been delayed can apply for the test. However, such candidates will be admitted provisionally and will be considered for award of JRF or recruitment as Assistant Professor only when they will pass their Master’s Degree with at least 55% marks (50% marks for reserved category).in addition, they are required to complete their Master's degree within two years from the date of UGC result

UGC NET Age Limit and Relaxation 2022

UGC NET 2022 Age Limit and Relaxation for Junior Research Fellowship and Assistant Professorship are given below:

  1. Junior Research Fellow (JRF): Candidates should not be more than 31 years as of October 01, 2022.
  • Candidates belonging to OBC-NC, SC, ST, PwD categories, Transgenders, and Women applicants are provided with a relaxation of up to 5 years.
  • Candidates with research experience will also be provided age relaxation equivalent to the years/ period spent on research in the respective subject or Post Graduation Degree.
  • Relaxation to researchers can be of up to 5 years and will only be provided on production of a certificate from the appropriate authority.
  • Candidates with L.L.M. Degree will be permitted an upper age relaxation of 3 years.
  • Candidates who have served in the armed forces will be provided with the benefit of relaxation of up to 5 years subject to the length of service in the armed forces up to June 01, 2022.
  • Total age relaxation on the above grounds shall not exceed 5 years under any circumstances.
Assistant Professor: There is no upper age limit to apply for Assistant Professor

Net Economics Syllabus

Unit-1: Micro Economics

  • Theory of Consumer Behaviour
  • Theory of Production and Costs
  • Decision making under uncertainty Attitude towards Risk
  • Game Theory–Non-Cooperative games
  • Market Structures, competitive and non-competitive equilibria and their efficiency properties
  • General Equilibrium Analysis
  • Factor Pricing
  • Efficiency Criteria: Pareto-Optimality, Kaldor –Hicks and Wealth Maximization
  • Asymmetric Information: Adverse Selection and Moral Hazard
  • Welfare Economics: Fundamental Theorems, Social Welfare Function

Unit-2: Macro Economics

  • Determination of output and employment: Classical & Keynesian Approach
  • National Income: Concepts and Measurement
  • Consumption Function
  • Investment Function
  • Multiplier and Accelerator
  • Demand for Money
  • Supply of Money
  • IS-LM Model Approach
  • Inflation and Phillips Curve Analysis
  • Monetary and Fiscal Policy
  • Business Cycles
  • Rational Expectation Hypothesis and its critique

Unit-3: Statistics and Econometrics

  • Probability Theory: Concepts of probability, Distributions, Moments, Central Limit Theorem
  • Descriptive Statistics– Measures of Central tendency & dispersions, Correlation, Index Numbers
  • Sampling Methods & Sampling Distribution
  • Statistical Inferences, Hypothesis testing
  • Linear Regression Models and their properties – BLUE
  • Simultaneous Equation Models – recursive and non-recursive
  • Identification Problem
  • Discrete choice models
  • Time Series Analysis

Unit-4: Mathematical Economics

  • Linear Algebra –Matrices, Vector Spaces
  • Input-Output Model, Linear Programming
  • Sets, functions and continuity, sequence, series
  • Differential Calculus and its Applications
  • Static Optimization Problems and their applications
  • Difference and Differential equations with applications

Unit-5: International Economics

  • International Trade: Basic concepts and analytical tools
  • Theories of International Trade
  • Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms
  • International Trade under imperfect competition
  • Exchange Rate: Concepts and Theories
  • Foreign Exchange Market and Arbitrage
  • Tariff and Non-Tariff barriers to trade; Dumping
  • Gains from Trade, Terms of Trade, Trade Multiplier
  • GATT, WTO and Regional Trade Blocks; Trade Policy Issues
  • IMF & World Bank

Unit-6: Public Economics

  • Market Failure And Remedial Measures: Asymmetric Information, Public Goods, Externality
  • Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-Progressive Taxation, Incidence and Effects of Taxation
  • Regulation of Market – Collusion and Consumers’ Welfare
  • Public Budget and Budget Multiplier
  • Fiscal Policy and its implications
  • Public expenditure
  • Public Debt and its management

Unit-7: Money and Banking

  • Central Bank
  • Commercial Banking
  • Components of Money Supply
  • Instruments and Working of Monetary Policy
  • Capital Market and its Regulation
  • Non-banking Financial Institutions

Unit-8: Growth and Development Economics

  • Economic Growth and Economic Development
  • Theories of Economic Development: Adam Smith, Ricardo, Marx, Schumpeter, Rostow, Balanced & Unbalanced growth, Big Push approach
  • Models of Economic Growth: Harrod-Domar, Solow, Robinson, Kaldor
  • Technical progress–disembodied & embodied; endogenous growth
  • Indicators of Economic Development: PQLI, HDI, SDGs
  • Poverty and Inequalities – Concepts and Measurement
  • Social Sector Development: Health, Education, Gender

Unit-9: Environmental Economics and Demography

  • Environment as a Public Good
  • Market Failure
  • Coase Theorem
  • Theories of Population
  • Concepts and Measures: Fertility, Morbidity, Mortality
  • Age Structure, Demographic Dividend
  • Cost-Benefit Analysis and Compensation Criteria
  • Valuation of Environmental Goods
  • Migration
  • Life Table

Unit-10: Indian Economy

  • Economic Growth in India: Pattern and Structure
  • Agriculture: Pattern & Structure of Growth, Major Challenges, Policy Responses
  • Services: Pattern & Structure of Growth, Major Challenges, Policy Responses
  • Industry: Pattern & Structure of Growth, Major Challenges, Policy Responses
  • Urban Development –Issues, Challenges and Policy Responses
  • Rural Development –Issues, Challenges & Policy Responses
  • Infrastructure Development: Physical and Social; Public-Private Partnerships
  • Foreign Trade: Structure and Direction, BOP, Flow of Foreign Capital, Trade Policies
  • Centre-State Financial Relations and Finance Commissions of India; FRBM
  • Reforms in Land, Labour and Capital Markets
  • Poverty, Inequality & Unemployment

Net Management Syllabus

NET Management unit-i : Marketing

  • Management: Concept, Process, Theories and Approaches, Management Roles
  • and Skills
  • Functions: Planning, Organizing, Staffing, Coordinating and Controlling.
  • Communication: Types, Process, and Barriers.
  • Decision Making: Concept, Process, Techniques, and Tools
  • Organization Structure and Design: Centralisation, Decentralisation, and Span of Control, Types, Authority, Responsibility
  • Managerial Economics: Concept & Importance
  • Demand analysis Utility Analysis, Indifference Curve, Elasticity & Forecasting
  • Market Structures: Market Classification & Price Determination
  • National Income: Concept, Types and Measurement
  • Inflation: Concept, Types and Measurement, Business Ethics & CSR, Ethical Issues & Dilemma, Corporate Governance, Value-Based Organisation

Unit–II: Organizational Behaviour

  • Organizational Behaviour: Its Significance & Theories
  • Individual Behaviour: Personality, Attitude, Perception, Values, Learning and
  • Motivation
  • Group Behaviour: Team Building, Leadership, Interpersonal Behaviour & Transactional Analysis, Group Dynamics, Organizational Culture & Climate, Workforce Diversity & Cross Culture Organisational Behaviour, Organisational Justice and Whistle Blowing, Emotions and Stress Management
  • Human Resource Management: Concept, Perspectives, Influences and
  • Recent Trends, Human Resource Planning, Recruitment, and Selection, Induction, Training and Development, Job Analysis, Job Evaluation, and Compensation Management

Unit–III: Competency Mapping

  • Competency Mapping & Balanced Scoreboard
  • Career Planning and Development
  • Strategic Role of Human Resource Management
  • Performance Management and Appraisal
  • Talent Management & Skill Development
  • Employee Engagement & Work-Life Balance
  • Organization Development, Change & OD Interventions
  • Industrial Relations: Disputes & Grievance Management, Labour Welfare and
  • Social Security
  • Trade Union & Collective Bargaining
  • International Human Resource Management: HR Challenge of International, Business, Green HRM

Unit– IV: Accounting Principles and Standards

  • Accounting Principles and Standards, Preparation of Financial Statements
  • Financial Statement Analysis, Ratio Analysis, Funds Flow and Cash Flow
  • Analysis, DuPont Analysis, Preparation of Cost Sheet, Marginal Costing, Cost Volume Profit Analysis, Standard Costing & Variance Analysis, Financial Management, Concept & Functions
  • Capital Structure: Theories, Cost of Capital, Sources, and Finance; Budgeting and Budgetary Control, Types and Process, Zero base Budgeting
  • Leverages: Operating, Financial and Combined Leverages, EBIT–EPS, Analysis, Financial Breakeven Point & Indifference Level.

Unit–V: Value & Returns

  • Value & Returns: Time Preference for Money, Valuation of Bonds and Shares,
  • Risk and Returns; Capital Budgeting: Nature of Investment, Evaluation, Comparison of Methods;
  • Risk and Uncertainty Analysis
  • Dividend: Theories and Determination
  • Mergers and Acquisition: Corporate Restructuring, Value Creation, Merger
  • Negotiations, Leveraged Buyouts, Takeover
  • Portfolio Management: CAPM, APT
  • Derivatives: Options, Option Payoffs, Option Pricing, Forward Contracts &
  • Future Contracts
  • Working Capital Management: Determinants, Cash, Inventory, Receivables and
  • Payables Management, Factoring
  • International Financial Management, Foreign exchange market

Unit–VI: Strategic Management

  • Strategic Management: Its Concept, Process, Decision & Types
  • Strategic Analysis: External Analysis, PEST, Porter’s Approach to industry
  • analysis, Internal Analysis: Resource-Based Approach, Value Chain Analysis
  • Strategy Formulation: SWOT Analysis, Corporate Strategy – Growth, Stability,
  • Retrenchment, Integration and Diversification, Business Portfolio Analysis – BCG,
  • GE Business Model, Ansoff’s Product-Market Growth Matrix
  • Strategy Implementation: Challenges of Change, Developing Programs
  • Mckinsey 7s Framework
  • Marketing: Concept, Orientation, Trends and Tasks, Customer Value and
  • Satisfaction
  • Market Segmentation, Positioning and Targeting
  • Product and Pricing Decision: Product Mix, Product Life Cycle, New Product
  • development, Pricing: Types and Strategies
  • Place and promotion decision: Marketing channels and value networks, VMS,
  • IMC, Advertising and Sales promotion

Unit–VII: Consumer and Industrial Buying Behaviour

  • Theories and Models of Consumer
  • Behavior
  • Service Marketing: Managing Service Quality and Brands, Marketing Strategies
  • of Service Firms Customer Relationship Marketing: Relationship Building, Strategies, Values and Process
  • Brand Management: Role of Brands, Brand Equity, Equity Models, Developing
  • a Branding Strategy; Brand Name Decisions, Brand Extensions, and Loyalty
  • Logistics and Supply Chain Management, Drivers, Value creation, Supply Chain
  • Design, Designing and Managing Sales Force, Personal Selling 
  • Retail Marketing: Recent Trends in India, Types of Retail Outlets.
  • Emerging Trends in Marketing: Concept of e-Marketing, Direct Marketing,
  • Digital Marketing and Green Marketing
  • International Marketing: Entry Mode Decisions, Planning Marketing Mix for
  • International Markets

Unit–VIII – Statistics for Management

  • Statistics for Management: Concept, Measures Of Central Tendency and
  • Dispersion, Probability Distribution: Binominal, Poison, Normal and Exponential, Data Collection & Questionnaire Design
  • Sampling: Concept, Process, and Techniques
  • Hypothesis Testing: Procedure; T, Z, F, Chi-square tests
  • Correlation and Regression Analysis
  • Operations Management: Role and Scope
  • Operation Research: Transportation, Queuing Decision Theory, PERT / CPM
  • Facility Location and Layout: Site Selection and Analysis, Layout – Design and
  • Process
  • Enterprise Resource Planning: ERP Modules, ERP implementation; Scheduling; Loading, Sequencing, and Monitoring; Quality Management and Statistical Quality Control, Quality Circles, Total Quality
  • Management: KAIZEN, Benchmarking, Six Sigma; ISO 9000 Series Standards

Unit–IX: International Business

  • International Business: Managing Business in Globalization Era; Theories of International Trade; Balance of payment 
  • Foreign Direct Investment: Benefits and Costs; Multilateral regulation of Trade and Investment under WTO; International Trade Procedures and Documentation; EXIM Policies
  • Data Warehousing, Data Mining, and Knowledge Management: Concepts
  • Managing Technological Change
  • Role of International Financial Institutions: IMF and World Bank
  • Information Technology: Use of Computers in Management Applications; MIS,
  • DSS, Artificial Intelligence and Big Data

Unit–X: Entrepreneurship Development

  • Entrepreneurship Development: Its Concept, Types, Theories, and Process, Developing Entrepreneurial Competencies
  • Innovations in Business: Types of Innovations, Creating and Identifying, Women Entrepreneurship and Rural Entrepreneurship
  • Intrapreneurship: Concept and Process, Opportunities, Screening of Business Ideas
  • Business Plan and Feasibility Analysis: Concept and Process of Technical,
  • Market and Financial Analysis; Micro and Small Scale Industries in India; Role of Government in Promoting SSI
  • Sickness in Small Industries: Reasons and Rehabilitation
  • Institutional Finance to Small Industries: Financial Institutions, Commercial
  • Banks, Cooperative Banks, Micro Finance

Ugc  Net Commerce syllabus

Unit 1: Business Environment and International Business

Unit 2: Accounting and Auditing

Unit 3: Business Economics

Unit 4: Business Finance

Unit 5: Business Statistics and Research Methods

Unit 6: Business Management and Human Resource Management

Unit 7: Banking and Financial Institutions

Unit 8: Marketing Management

Unit 9: Legal Aspects of Business

Unit 10: Income-tax and Corporate Tax Planning

Unit 1: Business Environment and International Business

  • Concepts and elements of business environment: Economic environment- Economic systems, Economic policies(Monetary and fiscal policies); Political environment- Role of government in business; Legal environment- Consumer Protection Act, FEMA; Socio-cultural factors and their influence on business; Corporate Social Responsibility (CSR)
  • Scope and importance of international business; Globalization and its drivers; Modes of entry into international business
  • Theories of international trade; Government intervention in international trade; Tariff and non-tariff barriers; India’s foreign trade policy
  • Foreign direct investment (FDI) and Foreign portfolio investment (FPI); Types of FDI, Costs and benefits of FDI to home and host countries; Trends in FDI; India’s FDI policy
  • Balance of payments (BOP): Importance and components of BOP
  • Regional Economic Integration: Levels of Regional Economic Integration; Trade creation and diversion effects; Regional Trade Agreements: European Union (EU), ASEAN, SAARC, NAFTA
  • International Economic institutions: IMF, World Bank, UNCTAD
  • World Trade Organisation (WTO): Functions and objectives of WTO; Agriculture Agreement; GATS; TRIPS; TRIMS

Unit 2: Accounting and Auditing

  • Basic accounting principles; concepts and postulates
  • Partnership Accounts: Admission, Retirement, Death, Dissolution and Insolvency of partnership firms
  • Corporate Accounting: Issue, forfeiture and reissue of shares; Liquidation of companies; Acquisition, merger, amalgamation and reconstruction of companies
  • Holding company accounts
  • Cost and Management Accounting: Marginal costing and Break-even analysis; Standard costing; Budgetary control; Process costing; Activity Based Costing (ABC); Costing for decision-making; Life cycle costing, Target costing, Kaizen costing and JIT
  • Financial Statements Analysis: Ratio analysis; Funds flow Analysis; Cash flow analysis
  • Human Resources Accounting; Inflation Accounting; Environmental Accounting
  • Indian Accounting Standards and IFRS
  • Auditing: Independent financial audit; Vouching; Verification ad valuation of assets and liabilities; Audit of financial statements and audit report; Cost audit
  • Recent Trends in Auditing: Management audit; Energy audit; Environment audit; Systems audit; Safety audit

Unit 3: Business Economics

  • Meaning and scope of business economics
  • Objectives of business firms
  • Demand analysis: Law of demand; Elasticity of demand and its measurement; Relationship between AR and MR
  • Consumer behavior: Utility analysis; Indifference curve analysis
  • Law of Variable Proportions: Law of Returns to Scale
  • Theory of cost: Short-run and long-run cost curves
  • Price determination under different market forms: Perfect competition; Monopolistic competition; Oligopoly- Price leadership model; Monopoly; Price discrimination
  • Pricing strategies: Price skimming; Price penetration; Peak load pricing

Unit 4: Business Finance

  • Scope and sources of finance; Lease financing
  • Cost of capital and time value of money
  • Capital structure
  • Capital budgeting decisions: Conventional and scientific techniques of capital budgeting analysis
  • Working capital management; Dividend decision: Theories and policies
  • Risk and return analysis; Asset securitization
  • International monetary system
  • Foreign exchange market; Exchange rate risk and hedging techniques
  • International financial markets and instruments: Euro currency; GDRs; ADRs
  • International arbitrage; Multinational capital budgeting

Unit 5: Business Statistics and Research Methods

  • Measures of central tendency
  • Measures of dispersion
  • Measures of skewness
  • Correlation and regression of two variables
  • Probability: Approaches to probability; Bayes’ theorem
  • Probability distributions: Binomial, poisson and normal distributions
  • Research: Concept and types; Research designs
  • Data: Collection and classification of data
  • Sampling and estimation: Concepts; Methods of sampling – probability and non-probability methods; Sampling distribution; Central limit theorem; Standard error; Statistical estimation
  • Hypothesis testing: z-test; t-test; ANOVA; Chi–square test; Mann-Whitney test (U-test); Kruskal-Wallis test (H-test); Rank correlation test
  • Report writing

Unit 6: Business Management and Human Resource Management

  • Principles and functions of management
  • Organization structure: Formal and informal organizations; Span of control
  • Responsibility and authority: Delegation of authority and decentralization
  • Motivation and leadership: Concept and theories
  • Corporate governance and business ethics
  • Human resource management: Concept, role and functions of HRM; Human resource planning; Recruitment and selection; Training and development; Succession planning
  • Compensation management: Job evaluation; Incentives and fringe benefits
  • Performance appraisal including 360 degree performance appraisal
  • Collective bargaining and workers’ participation in management
  • Personality: Perception; Attitudes; Emotions; Group dynamics; Power and politics; Conflict and negotiation; Stress management
  • Organizational Culture: Organizational development and organizational change

Unit 7: Banking and Financial Institutions

  • Overview of Indian financial system
  • Types of banks: Commercial banks; Regional Rural Banks (RRBs); Foreign banks; Cooperative banks
  • Reserve Bank of India: Functions; Role and monetary policy management
  • Banking sector reforms in India: Basel norms; Risk management; NPA management
  • Financial markets: Money market; Capital market; Government securities market
  • Financial Institutions: Development Finance Institutions (DFIs); Non-Banking Financial Companies (NBFCs); Mutual Funds; Pension Funds
  • Financial Regulators in India
  • Financial sector reforms including financial inclusion
  • Digitisation of banking and other financial services: Internet banking; mobile banking; Digital payments systems
  • Insurance: Types of insurance- Life and Non-life insurance; Risk classification and management; Factors limiting the insurability of risk; Re-insurance; Regulatory framework of insurance- IRDA and its role

Unit 8: Marketing Management

  • Marketing: Concept and approaches; Marketing channels; Marketing mix; Strategic marketing planning; Market segmentation, targeting and positioning
  • Product decisions: Concept; Product line; Product mix decisions; Product life cycle; New product development
  • Pricing decisions: Factors affecting price determination; Pricing policies and strategies
  • Promotion decisions: Role of promotion in marketing; Promotion methods – Advertising; Personal selling; Publicity; Sales promotion tools and techniques; Promotion mix
  • Distribution decisions: Channels of distribution; Channel management
  • Consumer Behaviour; Consumer buying process; factors influencing consumer buying decisions
  • Service marketing
  • Trends in marketing: Social marketing; Online marketing; Green marketing; Direct marketing; Rural marketing; CRM
  • Logistics management

Unit 9: Legal Aspects of Business

  • Indian Contract Act, 1872: Elements of a valid contract; Capacity of parties; Free consent; Discharge of a contract; Breach of contract and remedies against breach; Quasi contracts;
  • Special contracts: Contracts of indemnity and guarantee; contracts of bailment and pledge; Contracts of agency
  • Sale of Goods Act, 1930: Sale and agreement to sell; Doctrine of Caveat Emptor; Rights of unpaid seller and rights of buyer
  • Negotiable Instruments Act, 1881: Types of negotiable instruments; Negotiation and assignment; Dishonour and discharge of negotiable instruments
  • The Companies Act, 2013: Nature and kinds of companies; Company formation; Management, meetings and winding up of a joint stock company
  • Limited Liability Partnership: Structure and procedure of formation of LLP in India
  • The Competition Act, 2002: Objectives and main provisions
  • The Information Technology Act, 2000: Objectives and main provisions; Cyber crimes and penalties
  • The RTI Act, 2005: Objectives and main provisions
  • Intellectual Property Rights (IPRs) : Patents, trademarks and copyrights; Emerging issues in intellectual property
  • Goods and Services Tax (GST): Objectives and main provisions; Benefits of GST; Implementation mechanism; Working of dual GST

Unit 10: Income-tax and Corporate Tax Planning

  • Income-tax: Basic concepts; Residential status and tax incidence; Exempted incomes; Agricultural income; Computation of taxable income under various heads; Deductions from Gross total income; Assessment of Individuals; Clubbing of incomes
  • International Taxation: Double taxation and its avoidance mechanism; Transfer pricing
  • Corporate Tax Planning: Concepts and significance of corporate tax planning; Tax avoidance versus tax evasion; Techniques of corporate tax planning; Tax considerations in specific business situations: Make or buy decisions; Own or lease an asset; Retain; Renewal or replacement of asset; Shut down or continue operations
  • Deduction and collection of tax at source; Advance payment of tax; E-filing of income-tax returns

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