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May 3, 2021 • 4:39 pm

How to Prepare for UGC NET Economics 2021? Top Notch Tips by Experts

UGC NET Economics

UGC NET 2021 Model Papers

 

Economics is the study of how individuals, government, businesses, another organization make choices that affect the allocation and distribution of scarce resources.

If these are the topics of your interest, then it is a good decision to pursue your future in this field. NTA provides opportunities to make a career in economics through UGC NET Economics Exam.

It gives job options for the profile of Assistant Professor and JRF (Junior Research Fellowship) in various reputed universities and institutions.

But before applying for the exam, it is essential that you must have a pre-requisite knowledge about various aspects of it such as career scope, eligibility, syllabus and more.

 

To help you get all the information at one place we have covered them in this blog. 

Let’s go through all of them stepwise.   

Career Scopes after UGC NET Economics 

UGC NET Economics Eligibility Criteria 

NET Exam Pattern & Marking Scheme 

UGC NET Syllabus for Economics and Important Topics 

UGC NET Economics Study Material and Preparation Books PDFs 

Tips to Crack UGC NET Economics Exam 

UGC NET Sample Questions for Economics  

Frequently Asked Questions

 

 

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Career Scopes After UGC NET Economics 

 

Generally, students prefer teaching or research in their fields after qualifying the UGC NET Exam. But there are various other job profiles you can opt if you don’t wish to be a lecturer or researcher.  

Below, we have provided the list of career opportunities you can choose from, after qualifying UGC NET Economics. 

Govt. and private institution lecturer 

Doctor of Philosophy in economics 

Economist or finance employee in PSUs 

Trainer to economics students 

Economics books author and editor 

Career consultant 

Statistician in prestigious private & government organizations 

Project Associate, Project Fellow, Research Fellow, Project Assistant in Economics 

Economist in Agriculture, Finance, Labour, Business, Research and International Fields 

For further details and more career options, you can visit the UGC NET Career Scopes blog. 

Now that you know about all the UGC NET Economics related job profiles, let’s get the required information for appearing in the exam such as eligibility, pattern, syllabus and more.  

 

 

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UGC NET Economics Eligibility Criteria 

 

The first essential step is to check the eligibility criteria as it clears your way to move ahead with the exam preparation. The UGC NET Eligibility comprises certain educational and age limit criteria which are given in the table below. 

 

 

Age Limit Criteria 

 

Category 

Age Limit Criteria 

General 

31 years (for JRF) 

OBC/ST/SC/PWD/Transgenders 

31 years + 5 years relaxation will be provided (JRF) 

L.L.M. degree holder 

31 years + 3 years relaxation will be provided (JRF) 

 

Note: There is no upper age limit for the profile of Assistant Professor. 

 

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Education Qualification 

 

Categories 

Education Qualification 

General 

55% in post-graduation or equivalent degree 

OBC/SC/ST/Transgenders 

50% in post-graduation or equivalent degree 

PhD (Completed degree before 19th Sep 1993) 

5% relaxation in percentage 

 

Note: The candidates who are in the final year of post-graduation and waiting for the results are also eligible for the lectureship exam. 

If you fulfill the eligibility criteria, you can apply for the UGC NET Exam

 

 

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UGC NET Economics Exam Pattern & Marking Scheme 

 

It’s important to know about the updated UGC NET Exam Pattern & marking scheme before starting your preparation. It gives you a clear idea of various aspects of the exam and helps you to plan your preparation.

The NET exam comprises 2 papers, Paper 1 and Paper 2.

Paper 1 is common for all subjects and is based on aptitude and reasoning. Whereas, Paper 2 is subject-specific that you have chosen (in this case Economics).

Paper 1 & Paper 2 are conducted in a single three-hour duration.

There is no negative marking for wrong answer. 

Check the below table for the NET Exam Pattern. 

 

Paper 

Marks 

Number of Questions 

Duration 

100 

50 Questions all are compulsory 

 3 Hours 

II 

200 

100 Question all are compulsory 

 

Next, we’ll look at the syllabus for NET Economics which will help in planning your preparation schedule. 

 

 

Download UGC NET Syllabus 2021 Free PDF

 

 

UGC NET Syllabus for Economics and Important Topics 

 

While preparing for NET Economics, you may find that each topic is equally important as per the exam point of view. The UGC NET Syllabus for economics is vast and it’s important to cover the syllabus in a planned manner.

To help you with this planning, below we have mentioned some important topics from the Economics syllabus for both Paper 1 and Paper 2. 

These topics are suggested by our experts based on the complete analysis of the last few years’ question papers.

 

 

Important Topics of Paper – 1 

 

S.No. 

Important Topics 

1. 

Teaching Aptitude 

2. 

Research Aptitude 

3. 

Reading Comprehension 

4. 

Communication 

5. 

Reasoning 

6. 

Digital Initiatives in Higher Education 

7. 

Data Interpretation 

8. 

Important Days 

9. 

Science & Environment 

10. 

Governance, Polity and Administration 

 

 

Start your UGC NET Exam studies with the updated syllabus and plan your preparation smartly. Download Free PDF Now

 

 

Important Topics of Paper – 2 

 

S. No. 

Important topics 

1. 

Micro Economics 

2. 

Macro Economics 

3. 

Statistics and Econometrics 

4. 

Mathematical Economics 

5. 

International Economics 

6. 

Public Economics 

7. 

Money and Banking 

8. 

Growth and Development Economics 

9. 

Environmental Economics and Demography 

10. 

Indian Economy 

11. 

Foreign Trade 

12. 

Sampling 

13. 

Theory of Probability 

14. 

Agriculture 

 

Next and the most important thing after knowing about the eligibility, pattern and syllabus of the exam is the study material.  

Let’s dive deeper into the details for this. 

 

 

UGC NET Economics Study Material 

 

The real preparation starts with the study material and notes.

Make sure you have a quality & well-structured study material comprising updated syllabus, notes, previous years’ question papers, mock tests and study plan.

Eduncle provides UGC NET Study Material, designed by experts and have all such features to help students to prepare for the exam for better results.

We have helped more than 4000 students get qualified for the UGC NET exam through our top-class preparation material and experts’ guidance.

You can avail the free UGC NET Economics Study kit from the below-mentioned table: 

 

Now that you have all the basic information to start preparing for UGC NET Economics exam, you must check some tips to successfully prepare for the exam.

 

 

Tips to crack UGC NET Economics Exam 

 

What does it take to crack the NET exam? A proper study plan, hard work and smart preparation. Along with that, proper guidance and efforts made in the right direction also ensure success in the exam.

Below, we have provided some tips which may help you in better exam preparation and eventually clearing the exam.

The first important thing is to make a UGC NET Study Plan. This must include important topics from both Paper 1 and Paper 2.

UGC NET Paper 1 syllabus should be divided into topics and subtopics according to the priority and prepare them accordingly.

Studying with the help of diagrams and flowcharts helps you easily understand the monetary policies, income flow, and other topics of macro and microeconomics.

Solve UGC NET Previous Years’ Question Papers and mock tests for strengthening your preparation, especially during the last month before the exam.

Regular revision on daily basis is very important to keep a strong command on the topics.

 

 

Know what type of questions are asked in the exam by solving UGC NET Last 5 Exams Question Papers. Download Here

 

 

UGC NET Sample Questions for Economics

 

Solving sample papers’ questions would not only help you in UGC NET Preparation but also enhance your confidence towards the subject.

Test your skill and level of understanding by solving the sample questions given below.  

 

Ques.1. The Firms in Perfect competition get normal profits overall because of? 

 

(A) Homogeneous Products

(B) Free entry and exit

(C) Large number of buyers and sellers

(D) Perfect knowledge of markets

 

Ques.2. Which of the followings is the correct to way for sustainable development to implement?

 

(A) Rich Nations would have to consume fewer resources

(B) Birth Rates in developed countries would need to increase dramatically

(C) Rich Nations would have to export environmental stresses to the other countries

(D) None of the above

 

Ques.3. Under Cournot’s model, the intersection reaction curves show the?

 

(A) Price charged by each seller

(B) Output of each seller

(C) Both price and output of each seller

(D) None of the Above

 

Ques.4.  Census of India is being held regularly after every?

 

(A) 10 years

(B) 8 years

(C) 6 years

(D) 12 years

 

Ques.5. Who is the father of White Revolution?

 

(A) V Kurien

(B) MS Swaminathan

(C) JP Narayan

(D) Baba Amte

 

Ques.6. Which of the followings the basic characteristics of Oligopoly?

 

(A) A few sellers, one buyer

(B) A few sellers, many buyers

(C) A few sellers, a few buyers

(D) Many sellers, few buyers

 

Ques.7. In India, Inflation is measured by which if the following methods?

 

(A) Whole sale price index number

(B) Consumer Price Index for Urban Non-Manual Workers

(C) Consumer Price Index for Agricultural Workers

(D) National income deflation

 

Ques.8. What is the National Income?

 

(A) Net National Product at Market Price

(B) Net Domestic Product at Market Price

(C) Net Domestic Product at Factor Cost

(D) Net National Product at Factor Cost

 

Ques.9.What does the term “Sabbatical” relates to?

 

(A) Paid leave for study

(B) Paternity leave

(C) Maternity leave

(D) Quarantine leave

 

Ques.10. Which of the given owns the Land Development banks in India?

 

(A) RBI

(B) State Governments

(C) Commercial Banks

(D) Cooperative Societies

 

Ques.11. Which of these is not a factor of Production?

 

(A) Human Capital

(B) Land

(C) Labor

(D) Money

 

Ques.12. Coefficient of correlation is independent by which of the following?

 

(A) Change of Origin only

(B) Change of scale only

(C) Change of origin and scale

(D) None of the above

 

Ques.13. Which of the given are likely to limit the effectiveness of fiscal policy in the real world? 

 

(A) Time lags between the recognition of a macro problem and the implementation of corrective measures

(B) The Crowding out effect

(C) Political consideration which alter the content and timing of fiscal policy

(D) All the above

 

Ques.14. The movement along the Philips curve shows the unemployment rate and inflation rate are?

 

(A) Inversely proportional to each other

(B) Directly proportional to each other

(C) Changing in response to the shifts in aggregate supply

(D) Changing in response to supply side policy

 

Ques.15. Fei-Ranis’s theory of Economic Development is based on?

 

(A) Balanced growth during the take of production

(B) Importance of the agricultural production in capital accumulation in under developed countries

(C) Dualistic approach to the development

(D) All the above

 

 

 

Download UGC NET Mock Test Papers Free PDF

 

 

Note - Eduncle had conducted a webinar on 10th February for UGC NET exam preparation with UGC NET expert, Ms. Mahak Mahajan. In this webinar, you will get tips for effective preparation and planning.

CLICK HERE to watch now.

 

 

Frequently Asked Questions for UGC NET Exam

 

To help you get more clarification about the exam, we have added the list of UGC NET FAQs asked by aspirants.  

Below are some common questions asked by students regarding UGC NET Economics.   

 

 

Q1. What is UGC NET Economics? 

Ans. UGC NET Economics is a national-level competitive exam conducted by NTA (National Testing Agency) for students who have completed their master’s degree in economics. 

On qualifying the exam, you will become eligible for the profile of Assistant Professor or can receive a scholarship as a JRF (Junior Research fellowship) across UGC Approved Universities

 

 

Q2. What are some recommended books for UGC NET Economics Paper 2?

Ans. Please refer to the below table, for NET Economics Paper 2 reference books: 

 

Books 

Author 

UGC NET Economics 

Sunder Gopal Mishra 

UGC NET Economics (Paper 2) Exam Guide 

Sanjay Kumar 

Micro Economics 

Anna Koutsoyiannis, H.L. Ahuja 

Macro Economics Analysis 

Edward Shapiro, H.L. Ahuja 

Indian Economy 

Mishra and Puri 

 

 

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Q3. What is the UGC NET Cut Off for Economics 2020 June? 

Ans. Category-wise UGC NET Economics Cut off for June 2020 session is given below: 

 

S.No. 

Category 

Cut off (Assistant Professor only) 

Cut off (JRF & Assistant Professor) 

1. 

General 

62.67 

70

2. 

EWS 

56.67

66.67 

3. 

OBC (NCL) 

56

65.33

4. 

SC 

50.67

60.33 

5. 

ST 

49.33

58.67

 

 

Q4. Are questions repeated in UGC NET Economics exam? 

Ans. There is a rare chance that an exact question is repeated in the UGC NET exam. However, UGC repeats the topics in the exam with different set of questions. So, you should have a strong fundamental knowledge of such topics. 

 

 

Q5. Is UGC NET Economics tough? 

Ans. As per the UGC NET 2020 Exam Analysis by experts, the difficulty level was moderate to difficult and 81-88 no. of questions (including both paper 1&2) were considered as a good attempt.  

 

 

Are you looking for complete UGC NET exam 2020 Paper analysis? Download the expert paper review here.

 

 

In this article, we tried to put our best efforts for providing essential information related to the UGC NET Economics and hope it will be beneficial for you.

If you face any difficulty regarding this exam, you can ask your queries in the comments’ box below.

Also, if you want to give an extra edge to your preparation for UGC NET then download the Eduncle App, where you can get answers to all your doubts from a pan-India community of students and experts.

 

Thank You! 

 

 

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