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Theory paper

Economics

Examined on Competition Act 2002, Reserve Bank of India Act 1934, Finance Commission (Miscellaneous Provisions) Act 1951, National Food Security Act 2013, Micro, Small and Medium Enterprises Development Act 2006, Foreign Trade (Development and Regulation) Act 1992. Act 12 of 2003 — anti-competitive agreements, abuse of dominance, combinations; the law behind the market-structure module.

This page is the map of the paper: every syllabus unit, the leading cases with full summaries, and the exam questions the paper actually sets.

Units

  1. Unit 1 · Foundation of Economics — Module I — nature and significance of economics and its relevance to law; micro and macro; positive and normative; demand, elasticity and supply; market structures; circular flow; national income and its measures; trade cycles
  2. Unit 2 · Indian Economy — Module II — salient features and structural change; agricultural productivity; poverty; population and the demographic dividend; NITI Aayog; food security; New Industrial Policy 1991; MSMEs
  3. Unit 3 · Financial Markets and Fiscal System — Module III — money market; capital market; measures of money supply; tax structure; public revenue; public expenditure; Centre–State fiscal relations and the Finance Commission
  4. Unit 4 · External Sector — Module IV — India's foreign trade since 1991; balance of payments; WTO, SAARC, BRICS; commercial trade policy

Leading cases in this paper

Exam questions

Where it sits

Statutes