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UGC NET Economics- Preparation tips, syllabus, books, career scope and exam strategy

UGC NET Economics

UGC NET Exam is held twice a year to select deserving candidates for the post of Assistant professor and junior research fellow in various prestigious Indian Universities and institutes. But are the career prospects after qualifying this national level exam is limited to these two?

Career opportunities for UGC NET Economics qualified

Let’s have a look at various job and career opportunity after qualifying UGC NET 2018.

  1. Lectureship in government and private Indian Institutes and Universities.
  2. Doctorate Degree in Economics: Few of the top prestigious institutes where a candidate from economics background may apply are-
  • Indian Institute of technology (IIT’s)
  • Indian Institute of management (IIM’s)
  • Indian Statistical Institute
  • Jawahar Nehru University (JNU)
  • Institute of financial management and research (IFMR)
  • Lovely Professional University (LPU)
  • Delhi School of Economics
  • Jadavpur University

A candidate may also apply for the post of assistant professor in the above-mentioned institutes.

  1. Guide Economics students for UGC NET through a self-institute or as a faculty of a coaching.
  2. Qualified candidates can also go for the post of statistician in prestigious government and private institutions.
  3. Work as an Editor/ Writer of UGC NET Economics (paper 2) books.
  4. JRF qualified candidates can take up research work in Indian National Security problems. Fields in which a candidate may work include but not limited to:
  • International relations
  • Geostrategic
  • Geo political
  • Tactical aspects of war
  1. Work as an economic consultant in corporate sector, MNC’s. Can also work in the field of marketing and accounts in corporate firms.
  2. Qualified candidates can also seek lectureship in law schools across the country.

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Eligibility criteria for applying UGC NET in economics

A candidate needs to clear off the norms of eligibility criteria before applying for UGC NET. Furthermore, a candidate should be eligible to apply in that particular subject. Aspirants need to choose only the subject of their post-graduation (or related to) for taking UGC NET Exam.  Candidates having a master’s degree in economics, commerce can both take this exam. Other than that, an MBA graduate can also apply for UGC NET economics.

Important books for UGC NET Economics

UGC NET paper 2 is made in such a way to test a candidate’s knowledge on a particular subject. It’s future prospects, current projects and researches going on, etc. For better preparation it is advised to read the books from the post-graduation.

Some of the important books to read according to the topics are:

  • Public Finance- H.L. Bhatia
  • Macroeconomics-Edward Shapiro
  • Indian Economy- R. Dutta &KPM Sundaram
  • Modern banking- R S Sayers
  • National Income-Bakerman
  • Economic growth and development- Mayer and Baldwin
  • International Economics – Bo Sodersten
  • An Introduction to Economics- A W Stonier and D C Hauge
  • Monetary Theory and Public Policy- Kenneth Kurihara
  • Microeconomics-G. Madalla
  • Industrial Economics -Hay & Morriss

Apart from these books one can also rely on several other books for resources for preparation such as:

  • Economics for UGC-NET / SLET and Other Competitive Examinations- K. R. Gupta
  • Dictionary of Economics- Graham Bannock; TE Baxter, Ray Rees (Penguin)
  • The Economic Times and Economical and Political Weekly.
  • CBSE-UGC-NET: Economics Previous Papers (Solved) Paperback
  • UGC-NET Economics: Junior Research Fellowship and Assistant Professor Exam Guide (Paper II & III) Paperback by Sanjay Kumar (Author)

However, reading from so many books is not an easy task. For efficient preparation one need to make their own notes and study from them. For such highly competitive exams It is recommended to students to go for coaching programs and online courses. These courses provide a well-maintained study plan and compiled notes. It’s much easier to study from compiled notes from the best teachers and guides than struggling through various books. Some books have good question banks, some have good theory explanation. Therefore, students generally get confused and end up with a pile of books around them.

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UGC NET Economics Syllabus

  1. Microeconomic Analysis
  2. Macroeconomics
  3. Development and planning
  4. Public finance
  5. International Economics
  6. Indian Economy
  7. Statistical methods
  8. Industrial structure and economic growth
  9. Money and banking
  10. Econometrics

Download full syllabus here.

Preparation tips for UGC NET Economics Exam

  1. Analyze the syllabus and previous year question papers. This gives you a hint from where the questions are coming and what type of questions are asked from a particular topic.

Note: With recent changes it is expected that 2018 December paper of UGC NET will have more scientific and research focused questions.

  1. Important topics for Economics

Micro and Macro Economics: This section is easier to understand and at least 5 questions are expected from this section. Students should focus on sections from this part because it’s easily confused with econometrics and other topics. Demand and supply theory, growth theories, Keynesian and post-Keynesian approaches are some important topics in this section and every year questions have been asked from these particular theories.

Public Finance: The important topics to study in this section is tax, revenue, credit, etc. Focus should be given on current affairs from these topics.

International Economics: The most important thing in tis topic is memorizing facts, dates and numbers. Questions are frequently framed on facts and numbers.

Money and banking: For preparing this topic candidates can take help from course materials of various bank examinations. Popular government policies and tax structure, Monetary theories and exchange rates should be studied.

Statistics: The most important topics are Sampling, theory of probability, correlation and regression. Questions based on both calculation and theory from this topic are easy. Candidates can expect 4-5 questions from this section in the paper.

Econometrics: For some people this subject seems to be sort of tougher. The key to scoring is looking out for previous year questions.

Indian Economics: This is probably the most length topic of this subject. You really need to work hard for this as all past, present and future development process have to be studied properly. Solve a greater number of questions in order to score higher in exams.

Once you are done with the books from your post-graduation, you can also refer to some more study material such as

  • Arihant’s / Trueman’s for UGC NET Economics: Read and solve MCQ’s
  • 10 years question papers should be solved and revised thoroughly.
  • Pratiyogita Darpan: Very important for preparing current affairs.
  • Mag book: For current and old facts.

Once you are done with reading all this, a candidate may work towards taking tests and mock tests offered by NTA.

Remember practice will make you prefect so try solving as much questions as you can.

Alternatively, a candidate could join online test series and mocks and can evaluate themselves. Mark down your weak points and work hard on them.

For any query regarding courses or UGC NET Economics paper feel free to write to us at rakesh@xamnation.com .

Best Wishes.

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