LBS SET Economics July 2024 Syllabus, Online Coaching

Table of Contents

LBS SET July Notification

LBS SET Last Date to Apply

LBS SET Last for Fee Payment

LBS SET July Correction Window

LBS SET July Certificate Upload

LBS SET July Admission Ticket

LBS SET July Exam Date

SET Economics Online Classes

Kerala SET Exam 2024

Kerala SET syllabus 2024 for Economics

LBS SET Previous Questions

Overview

LBS Institute of Science and Technology has released the notification for 2024 SET July edition. State Eligibility Test is an important examination for the HSST aspirants. Candidates aspiring to become a Higher Secondary School Teacher in government sector. Join the best SET coaching centre in Kerala to clear your SET Economics exam in the coming July. And fall in the eligibility criteria for Kerala PSC HSST examination to the relevant subject.

LBS SET Economics July Notification

LBS Kerala has published the official notification for Kerala SET exam in the official site. Candidates with proper qualification for teaching Economics as HSST or in NVHSE must clear the Kerala SET exam. Candidates are advised to download and read the detailed notification and prospectus before applying for State Eligibility Test.

LBS SET Last Date to Apply

The Last date to apply for LBS SET July edition is 15^th April, 2024. All candidates should complete the filling in of details and other procedures of registration. The last date for SET fee payment has been extended to 17^th April, 2024.

LBS SET Last for Fee Payment

Make the fee payment through online means. No other methods of payment will be accepted. As per the official rules, such applications will be rejected if the payment is not received by the acceptable means within the permitted date.

LBS SET July Correction Window

Candidates will be able to edit the details entered in the application from 18the April, 2024. The correction window for SET exam 2024 closes on 20 of April, 2024.

LBS SET July Certificate Upload

Candidates claiming relaxations applied to reservation categories must provide the Certificate of Non-Creamy Layer dated between 17^th march, 2023 and 20^th April, 2024.

LBS SET July Admission Ticket

SET July admission ticket will be made available only after the end of registration processes. The date from which admission tickets available online will be mentioned later in the official website of LBS SET July 2024. Candidates are advised to check the official site regularly to get the timely updates.

LBS SET July Exam Date

Exam date of SET July 2024 is not released yet. The date and time of examination will be published in official website and will be mentioned in the admission ticket. Along with the examination centre.

SET Economics Online Classes

Join Competitive Cracker for the best SET exam online coaching. LBS SET 2024 require preparation in two subjects, the general paper and subject paper. Experience the interactive live class and recorded classes within purview of July SET examination. SET exam online classes suites candidates who have already undertaken the job also. The live classes are adjusted to best suite such candidates. Also, they can download the recorded classes and view according to their convenience. The unlimited mock tests and model exam can be attended any time and

Kerala SET Exam 2024

Kerala SET exam pattern includes two papers, Paper I is common for all candidates which includes questions from General knowledge and Teaching Aptitude. Download and read the complete prospectus for LBS SET 2024 July exam.

Kerala SET syllabus 2024 for Economics

Unit I

Microeconomic Theory and Applications

Module 1. Theory of Consumer Behaviour
- Theory of consumer behaviour – utility functions –demand analysis – price, income and substitution effects - theory and applications of indifference curves – Hicks and Slutsky effects – revealed preference theory - choice under uncertainty – recent developments in the theory of demand - LES, CES demand functions - dynamic versions of demand – duality and indirect utility functions – Bandwagon, Snob and Veblen effects.
Module 2. Theory of Costs and Production
- Traditional and modern theories of costs – production function – Cobb- Douglas, CES, VES and translog production functions
- Producer’s equilibrium using Isoquants - Isocost analysis - technical progress – Harrod and Hicks versions
Module 3. Market Structure and Equilibrium Price and Output Determination
- Classification of markets – short- run and long-run equilibrium under perfect competition, monopoly and monopolistic competition – shut down and break-even analysis – monopoly power – different oligopoly markets – Cournot, Bertrand, Stackelberg, Chamberlin, Kinked demand curve – Cartels – price leadership – price discrimination – game theory and it’s applications – prisoner’s dilemma
Module 4. Theory of Distribution, General Equilibrium, Welfare Economics and Uncertainty
- Micro and macro theories of distribution - marginal productivity – Euler’s theorem and adding up problem – contributions of Ricardo, Marx, Kalecky - partial and general equilibrium – contributions of Walras, Hicks – Kaldor – theory of Second-Best – Arrow’s Impossibility theorem – theory of risk and uncertainty – moral hazard, adverse selection and externalities

Unit II

Macroeconomic Theory and Applications

Module 1. Macroeconomic Framework
- National income accounting - classical and Keynesian analysis of macro aggregates – ISLM model – policy analysis in the closed and open systems – Mundell -Fleming Model – monetary approach to balance of payment – labour market analysis – search theories
Module 2. Behavioural Foundations of Macroeconomics
- Consumption functions and puzzle – absolute, relative, permanent and life cycle hypotheses of consumption
- Investment functions – role of interest rate and expectations – neo-classical, Keynesian and accelerator theories of investment – user cost of capital – Tobin’s ‘q’ ratio
Module 3. Theory of Business Cycle, Inflation and Unemployment
- Business cycle facts - direction and timing of variables – aggregate demand and supply analysis of business cycles - theoretical contributions of Samuelson, Hicks and Kaldor – multiplier and accelerator – great depression and financial crisis – alternative views
- Classical, Keynesian and monetarist approaches to inflation and unemployment – Philip’s curve – sacrifice ratio and Okun’s law
Module 4. Macroeconomic Schools and Policies
- Schools in macroeconomics – classical, Keynesian, Monetarists, new classicals, supply side - rational expectations – new Keynesian and new political macro economics
- Objectives of macroeconomic policy – monetary policy – instruments- rules vs discretion - Taylor’s rule – dynamic time inconsistency models – fiscal policy – instruments- Barro Ricardo equivalence theorem – income policy

Unit III

Quantitative Methods for Economic Analysis

Module 1. Statistical Methods
- Measures of central tendency – mean, median, mode, geometric and harmonic mean – measures of dispersion – range, quartile deviation, mean deviation, variance and standard deviation- skewness and kurtosis – correlation – types and measurement – partial and multiple regression analysis - probability – various types of events – laws of addition and multiplication – Bayes’ theorem – distribution – binomial, poisson, and normal distributions and their properties
Module 2. Mathematical Methods
- Matrix operation – determinants – Crammer’s rule – static and dynamic inputoutput models – linear programming – graphical and simplex methods – duality and shadow prices
- Functions – rules of differentiation and integration – uses in economics – interpretation of revenue, cost, demand, supply functions, elasticities – market equilibrium – consumer’s and producer’s surplus
Module 3. Econometric Methods
- Methodology of econometric research – simple and general linear econometric models – assumptions – estimation of parameters – co-efficient of determination (R2 ) – Gauss Markov theorem – concepts of autocorrelation, multicollinearity and heteroscedasticity and their tests
Module 4. Research Methodology
- Sampling - types and techniques – hypothesis testing – null and alternative hypotheses – type I and type II error – theories of estimation – point and interval estimation – t, F, and chi-square tests
- Research design – collection, organization and analysis of data – presentation of research report

Unit IV

Development Experiences of India and Kerala

Module 1. Growth and structural changes of Indian Economy
- Growth and sector-wise contribution to GDP and employment - demographic features – Distribution of National Income among four factors of production - Regional disparity in growth and development - HDI related indicators in India - poverty and unemployment in India
Module 2. Development Strategies in India
- Economic Planning in India - objectives and achievements - development strategies in India - Mixed Economic Framework - Economic Reforms - recent developments
Module 3. Economic Policy and Development in India
- Issues and policies in Agriculture, Industry, Trade, Infrastructure - price movements and India’s monetary, fiscal and financial sector policies and reforms - recent developments
Module 4. Kerala’s Economic Development
- Kerala model of development - Sustainability issues- Poverty and Unemployment in Kerala - Structural changes in Kerala’s economy- performance of agriculture, industry, infrastructure and services – Issues of Migration, Urbanisation and Demographic features - Fiscal scenario in Kerala - Decentralisation and achievements – recent developments

Unit V

Economic Development and Environmental Economics

Module 1. Concept and Measurement of Economic Development
- Meaning of development – growth vs development - indicators of development – per capita income - PQLI - HDI - HPI - perpetuation of under development - vicious circle of poverty - circular causation - structural view of under development - inequalities in income distribution - Lorenz curve and Gini coefficient – Kuznet’s Inverted U-hypothesis
Module 2. Theories of Economic Growth
- Classical theories - Marx - Schumpeter - Harrod-Domar model - Neo-classical growth theories - Solow - Meade - Mrs. Joan Robbinson - Kaldor-Mirrlees Model - Technical progress function of Kaldor - Convergence Hypothesis - Endogenous theories of growth – Education - Research and Human Capital.
Module 3. Partial Theories of Growth
- Dual Economies - Social dualism - Technological dualism - Geographical and financial dualism - Lewis theory of development with unlimited supply of labour - Fei-Ranis theory - Balanced growth - Rosenstein Rodan, Nurkse and Lewis - Unbalanced Growth - Low level equilibrium trap - Critical minimum effort thesis - Dependency theories of development.
Module 4. Measurement of Environmental Values
- Use values; Option values and non-use values; Valuation methods — Methods based on observed market behavior - Hedonic property values and household production models (travel cost method and household health production function) - Methods based on response to hypothetical markets - contingent valuation andcontingent ranking methods.
Module 5. Environmental and Natural Resource Problems in India
- Mechanism for environment regulation in India - Environmental laws and their implementation - Policy instruments for controlling water and air pollution and forestry policy - People’s participation in the management of common and forest lands - The institutions of joint forest management and the joint protected area management - Social forestry — rationale and benefits - Solid waste management - causes, effects and control measures (E-waste, Plastic waste, Industrial waste) - Pollution analysis and policy -causes, effects and control measures of pollution (air, water, noise and soil).

Unit VI

Money, Banking, Public Finance and International Trade

Module 1. Money and Banking
- Money and finance – demand for money – contributions of Irving Fisher, J M Keynes, Milton Friedman, Baumol and Tobin – supply of money – mechanistic model – behavioural model and H-theory – money multiplier
- Commercial banking – functions - credit creation – central banking –functions – financial markets – structure, composition and instruments of capital markets – capital market reforms
Module 2. Public Finance
- Difference between private goods, public goods and merit goods – public expenditure - Wagner’s law of increasing state activities - principles of public expenditure – public revenue – sources – kinds and canons of taxation – taxable capacity – impact and incidence – public debt – classification and effects – Centre-State financial relations – Finance Commissions - recent developments
Module 3. Theories of International Trade
- Theories of international trade - Smith, Ricardo, Heckscher-Ohlin – Leontief paradox – factor price equalization theorem – models based on imperfect competitions – free trade and protection – types and effects of tariffs and quotas – Stopler - Samuelson theorem – Metzler paradox
Module 4. Balance of Payments / Economic Integration
- Balance of payment accounting – elasticity and absorption approaches – foreign exchange markets – flexible and floating exchange rates – IMF – IBRD – ADB
- Forms of economic integration – PTA – FTA – customs union – economic union – progress of SAARC / SAPTA / ASEAN – regionalism vs multilateralism –recent developments

LBS SET Previous Questions

Working out with previous question papers will help candidates to improve their chances to clear the exam in the upcoming July edition of LBS SET. State Eligibility Test previous question paper will enable candidates to recognise and understand the question patterns without confusion.

The elasticity of substitution between two inputs in CES production function:
1. Decreases continuously
2. Increases continuously
3. Remains constant
4. None of these
A foreign company can access Indian securities market for raising funds through:
1. GDR
2. ADR
3. IDR
4. EDR
Among the following determinants of growth, which is a non-economic factor?
1. Natural resources
2. Favorable legislation
3. Investment
4. Population growth
A market is said to be economically efficient if it maximizes:
1. Consumer surplus
2. Producer surplus
3. Aggregate of producer and consumer surplus
4. None of these
Paul A Samuelson is closely associated with:
1. Indifference curve analysis
2. Characteristics of goods approach
3. Risk related consumption
4. Revealed Preference theory
Measure of money supply M2 is equal to:
1. M1 + all post office deposits.
2. M1 + time deposits of commercial banks.
3. M1 + Savings deposits of post office savings banks
4. M1 + all deposits
The point at which aggregate demand curve intersects with aggregate supply curve:
1. Effective demand
2. Excess demand
3. Deficit demand
4. Warranted demand
According to the Harrod Domer model, the warranted rate of growth, given the incremental capital output ratio, depends on:
1. Rate of growth of labour force
2. Marginal productivity of investment
3. Rate of growth of capital
4. Saving income ratio
Harrods model suggests that if G > Gw and C < Cr there will be:
1. Steady growth
2. Chronic deflation
3. Chronic inflation
4. None of these
The cannon of taxation which is also known as “ability to pay” principle of taxation:
1. Cannon of certainty
2. Cannon of economy
3. Cannon of convenience
4. Cannon of equity
Which of the following are the characteristic features of New Classical Economics?
1. 1. Economic agents optimise
  2. Market clears
  3. Adaptive expectations
  4. Expectations are formed rationally
    1. 1& 3 only
    2. 2 & 4 only
    3. 2, 3 & 4 only
    4. 1, 2 & 4 only
Peoples plan was prepared by:
1. M N Roy
2. Shriman Narayan
3. Jawaharlal Nehru
4. Udai Reddy