OPSC Orissa Pre Exam : Economics

Updated on: Apr 18, 2013

1) Micro-Economics : (A) Production Function : Laws Of Returns And Returns To Scale Isoquants, Costs And Supply; (B) Consumption And Demand : Elasticity Concepts (C) Market Structure And Conditions Of Equilibrium; (D) Determination Of Prices Under Perfect Competition, Monopoly And Monopolistic Competition ; (E) Theory Of Distribution : Marginal Productivity Theory (F) Elementary Concepts Of Welfare Economics : Consumer’s Surplus, Private And Social Products; Pareto-Optimality.

2) Macro-Economics : (A) National Income Concepts; (B) Determinants Of National Income And Employment (C) Determinants Of Consumption, Savings And Investment (D) Rate Of Interest And Its Determination

3) Money, Banking And Public Finance : (A) Concepts Of Money And Measures Of Money Supply; (B) Banks And Credit Creation; Banks And Portfolio Management. (C) Central Bank And Control Over Money Supply (D) Inflation, Its Causes And Remedies. (E) Public Finance: Budget, Taxes And Non-Tax Revenues-Types Of Budget Deficits.

4) International Economics : (A) Theories Of International Trade-Comparative Costs- Heckscher-Ohlin; Gains From Trade And Terms Of Trade. (B) Free Trade And Protection. (C) Balance Of Payments Accounts. (D) Exchange Rate Under Free Exchange Markets. (E) Evolution Of The International Monetary System And World Trading Order- The Brettonwoods System, Imf And The World Bank And Their Associates.
Floating Rates-Gatt And WTO

(5) Growth And Development : (A) Meaning And Measurement Of Growth; Growth, Distribution And Welfare; (B) Characteristics Of Underdevelopment; (C) Stages Of Development; (D) Sources Of Growth-Capital, Human Capital, Population, Productivity, Trade And Aid, Non-Economic Factors; Growth Strategies – Balanced And Un-Balanced.

(6) Economic Statistics : Types Of Averages-Measures Of Dispersion-Correlation-Index Numbers; Types, Uses And Limitations.


Indian Economics
1. Main Features; Geographic Size-Endowment Of Natural Resources, Population; Size, Composition Quality And Growth Trend-Occupational Distribution 2. Major Problems, Their Dimensions, Nature And Broad Causes; Mass Poverty- Unemployment And Its Types-Economic Effects Of Population Pressure-Inequality And Types Thereof-Low Productivity And Low Per Capita Income, Rural-Urban Disparities-Foreign Trade And Payments Imbalances. Balance Of Payments And External Debt- Inflation, And Parallel Economy And Its Effects-Fiscal Deficit. 3. Growth In Income And Employment Since Independence-Rate, Pattern, Sectoral Trends-Distributional Changes-Regional Disparities. 4. Economic Planning In India : Goals, Achievements And Shortfalls; Planning And Market. 5. Broad Fiscal, Monetary, Industrial, Trade And Agricultural Policies-Objectives, Rationale, Constraints And Effects.
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