There are various entrance examinations for a master’s degree in India, and IIT JAM is one of the highly popular exams among graduates.
After qualifying for the Joint Admission test, candidates can get admission in M.Sc., Joint M.Sc. – Ph.D., M.Sc. – M.Tech., M.Sc. - Ph.D. Dual degree and other courses. India’s top colleges offer admission into these courses through IIT JAM.
A new subject Economics (EN), introduced from the 2021 session to expand the scope of the IIT JAM Exam to include admissions in Masters of Economics programs at different IITs.
To help students who want to take a seat in the IITs for Economics subject, we are providing the complete details about IIT JAM Economics in this article -
Career Scope after Master’s Degree in Economics
IIT JAM Economics Exam gives candidates the ability to improve their skills with the demanding work they perform.
Recently, there has been a surge in career opportunities for Economics professionals such as Economic Analysts, Economic Researchers, and Economic Consultants.
After completing M.Sc. through IIT JAM Economics, these postgraduates can deal very effectively with the increasing complexity of society. Several national and international companies are hiring well-trained economists these days.
The banking and insurance sectors are also crucial to economists’ job prospects.
Aspirants can also get an opportunity in public the Government and Private Sector for Economics Graduates in India such as –
Indian Economic Services (IES)
Before starting IIT JAM preparation, you must know about the complete Syllabus, Exam Pattern, and other useful information regarding the exam.
IIT JAM Economics Exam Pattern & Marking Pattern
Understanding the JAM Paper Pattern is essential to prepare for the exam. This will help you know the number of questions asked in the Economics paper and the time allotted to solve these questions.
Below are the details about IIT JAM Economics Paper Pattern-
Duration of Exam
Number of Questions
3 Sections – A, B, & C
Type of Questions
Section A – 30 Multiple Choice Questions
Section B – 10 Multiple Select Questions
Section C – 20 Numerical type Questions
Scheme for Marking
There will be negative marking for section A
No negative marking for sections B & C.
Check out IIT JAM Important Dates and Notification for detailed information.
Marking Scheme for IIT JAM Economics Exam
Below, we are sharing the JAM Economics marking scheme that will make you aware of the exam paper's difficulty level.
This section is divided into two parts. The first part will contain 10 Multiple Choice Questions of 1 mark. There is a negative marking for every wrong answer (1/3 will be deducted for the 1-mark question).
The remaining 20 Multiple Choice Questions are of 2 marks each, and 2/3 marks will be deducted for these types of questions in case of wrong attempts.
This section contains 10 Multiple Select Questions of 2 marks each.
There is no negative marking in this section.
It contains 30 Numerical Answer type questions. 1 mark will be awarded for 10 Numerical Answer type questions and 2 marks for other remaining questions.
There will be no negative marking for Section C as well.
IIT JAM Economics Syllabus – Get It from Here!
Economics is the latest addition to the IIT JAM exam, and it is essential to have full knowledge of the syllabus to start preparing for it. The IIT JAM Economics syllabus will be based on the 10 + 2 + 3 level.
As per the latest updates, some changes are made in the syllabus of IIT JAM Economics.
You can check the complete IIT JAM Syllabus to start your preparation. The main units of the Economics syllabus for JAM are:
Statistics for Economics
Mathematics for Economics
IIT JAM Economics Books
After knowing about the Exam Pattern and Syllabus, the next step to get good marks has the best books for preparation.
Before buying any book, candidates must go through the reviews about the book.
The value of good books can not be overlooked as they provide a student with clear and understandable answers from guiding to solving problems and explaining topics in simple language, and having several problems for practice.
Aspirants should only refer to the best IIT JAM Study Material to crack the IIT JAM Economics exam with good marks.
Here at Eduncle, we're working tirelessly to bring you the quality IIT JAM Economics Study Material and complete online learning materials as soon as possible. So, stay tuned with Eduncle to get all the updates on the study material.
Here are some of the most recommended IIT JAM Economics Books for your reference –
Micro Economics by Anna Koutsoyiannis, H.L. Ahuja
Macro Economics Analysis by Edward Shapiro, H.L. Ahuja
Indian Economy by Mishra & Puri
Mathematics For Economists by B.C. Mehta, G.M.K. Madnani
Statistics and Econometrics by B. L. Agarwal
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Useful JAM Economics Study Tips
The Joint Admission Test for Masters is one of the toughest entrance exams in India. It would be best to have a well-planned preparation strategy to get high scores and a good rank in JAM Economics Examination.
Below are some important preparation tips that can lead you to crack the exam.
Check the updated Syllabus
Before starting your preparation, check the syllabus and note down the important topics covering a large section of the exam. Study the theoretical part first as it will take less time; then, move on to the numerical part.
Do the Complete Planning
Making a perfect plan is the best way to start your preparation. For that, you can create a timetable and follow it for better results.
You should remember the important topics and make notes about them. These notes play a crucial role while revising the concepts.
Filter out the topics you think you’re weak and plan up the strong approaches to strengthen such topics.
While studying, set a deadline for your topic and complete it within that pre-set time limit. If you cannot do it, then make honest efforts to increase your speed which will help you during the exam.
Take breaks or short intervals in between your study hours.
Another tip for a good preparation strategy is to study the difficult topics during the early hours of the day. Make sure you have got enough sleep at night for better concentration.
Analyze and Revise
While studying, you must analyze your weak and strong syllabus areas and work on them accordingly.
Don’t forget to revise daily for at least 30–45 mins. Also, go through all the topics at least once a day. It will help you remember a lot of important concepts during exams.
Practice using Virtual Calculator
Being an IIT JAM aspirant, you must familiarize yourself with the virtual calculator. It is important to know the format of the calculator as physical calculators will not be allowed in the exam. So, it is advised that candidates practice with the IIT JAM Virtual Calculator provided for the same.
Give Mock Tests
Taking mock tests will enable you to have a time management strategy and prioritize the topics to be dealt with first. You should join online test series and take mock tests daily.
It will give you an idea about the type of questions asked, help you analyze your level of preparation, and increase speed and accuracy.
Also, check - How to Prepare for IIT JAM Exam
IIT JAM Economics Courses & Seats at IITs
There are 58 seats available in 2 IITs for the Economics M.Sc. Course. You can check the courses available in each IIT from the table given below.
Visit IIT JAM Seat Matrix to check the category-wise seats.
Name of the Institute
M.Sc. in Economics
M.Sc. in Economics
We hope that this blog has helped you get all the information regarding IIT JAM Economics which will help you in preparation.
If you have any queries regarding this article, you can leave comments in the comment box below.
You can also join India’s No.1 Learning Community for IIT JAM, where you will get doubt solutions for all your exam-related queries with the help of experts from all over India. To join the community, download the Eduncle app now.