IIT JAM Economics (EN) 2024: Exam Date, Syllabus, Question Papers, Important Topics
Preparing for IIT JAM Economics 2024? Learn all the information about its syllabus, exam date and topic-wise weightage in this article.
IIT JAM Economics course is one of the most popular among students interested in pursuing a career in Economics. The IIT JAM Economics 2024 Exam Date has been Announced. The IIT JAM exam will be conducted on 11th February, 2024. IIT JAM 2024 results will be out on 22nd March, 2024. Candidates can download their IIT JAM 2024 admit cards from the official website.
IIT Madras will host the IIT JAM Economics 2024 this year. The IIT JAM Economics Course in India seeks to provide a comprehensive understanding of the subject's various aspects, including micro and macroeconomics, econometrics, and mathematical economics. The programme is designed to equip students with the theoretical and analytical tools needed to understand and analyse economic problems and issues. The course also allows students to improve their research skills by conducting independent research in economics.
IIT JAM 2024 (Joint Admission Test for M.Sc) is a national-level entrance exam administered by the Indian Institutes of Technology (IITs) for admission to various postgraduate science programmes at the IITs, including M.Sc (Two Years), Joint M.Sc-PhD, M.Sc-PhD Dual Degree, and other post-bachelor's degree programmes. We have provided information about IIT JAM Economics 2024 syllabus, previous year's question papers, and topic-wise weightage in this article.
IIT JAM 2024 Important Dates
Candidates can check out all the important dates for IIT JAM 2024 in the table provided below:
Events | Dates |
IIT JAM 2024 Online Application (Release Date) | 5th September 2023 |
IIT JAM 2024 Application Form Submission (Last Date) | 13th October 2023 |
IIT JAM 2024 Admit Card Availability | 8th January 2024 |
IIT JAM 2024 Exam Date | 11th February 2024 |
IIT JAM 2024 Provisional Answer Key | February 2024 |
IIT JAM 2024 Response Sheet | February 2024 |
IIT JAM Provisional Answer Key Challenge Window | February 2024 |
Announcement of IIT JAM 2024 Result | 22nd March 2024 |
IIT JAM 2024 Final Answer Key | March 2024 |
IIT JAM 2024 Counseling Registration | April 2024 |
IIT JAM 2024 Scorecard Availability | April 2024 |
IIT JAM 2024 Admission Form Correction (Last Date) | May 2024 |
Check out: IIT JAM 2024 Application Form
IIT JAM Economics 2024 Exam Date
IIT Madras will conduct the IIT JAM Economics 2024 exam this year on February 11th, 2024. The exam will be conducted in an online mode. All candidates who meet the eligibility requirements will be able to take the IIT JAM Economics 2024 examination. Admission to these programmes will be determined by the candidate's performance in the entrance exam.
IIT JAM Economics 2024 Syllabus
Candidates can check out the list of total chapters in IIT JAM Economics 2024 Syllabus which is divided into 4 parts Microeconomics, Macroeconomics, Indian Economy, and Mathematics for Economics.
IIT JAM 2024 Microeconomics Syllabus
Topics | Sub Topics |
Consumer theory | Preference, utility, and representation theorem, budget constraint, choice, demand (ordinary and compensated), Slutsky equations, choice under risk and uncertainty, revealed preference axioms |
Production, costs with perfectly competitive markets | Technology, isoquants, production with one and more variable inputs, returns to scale, short run and long run costs, cost curves in the short run and long run, perfect competition in markets |
General equilibrium and welfare | Equilibrium and efficiency under pure exchange and production, welfare economics, theorems of welfare economics |
Market structure | Monopoly, pricing with market power, price discrimination (first, second and third), monopolistic competition and oligopoly |
Game theory | Strategic form games, Nash equilibrium, mixed extension and mixed strategy Nash equilibrium, iterated elimination of dominated strategies, examples: Cournot, Bertrand duopolies, Prisoner’s dilemma, cooperative game theory: Shapley value, Nash bargaining |
Public goods and market failure | Externalities, public goods and markets with asymmetric information (adverse selection and moral hazard), VCG mechanism and transfer rules |
IIT JAM 2024 Macroeconomics Syllabus
Topics | Sub Topics |
National Income Accounting | Structure, key concepts, measurements, and circular flow of income - for a closed and open economy, money, fiscal and foreign sector variables - concepts and measurements |
Behavioral and Technological Functions | Consumption functions - absolute income hypothesis, life-cycle, and permanent income hypothesis, investment functions- Keynesian, money demand and supply functions, production function |
Business Cycles and Economic Models | Business cycles-facts and features, the Classical model of the business cycle. the Keynesian model of the business cycle, simple Keynesian cross model of income and employment determination and the multiplier (in a closed economy), IS-LM Model, Hicks’ IS-LM synthesis, role of monetary and fiscal policy |
Business Cycles and Economic Models (Open Economy) | Open economy, Mundell-Fleming model, Keynesian flexible price (aggregate demand and aggregate supply) model, role of monetary and fiscal policy |
Inflation and Unemployment | Inflation - theories, measurement, causes, and effects, Unemployment -types, measurement, causes, and effects |
Growth Models | Harrod-Domar, Solow and Neoclassical growth models |
IIT JAM 2024 Statistics for Economics Syllabus
Topics | Sub-Topics |
Probability Theory | Sample space and events, axioms of probability and their properties, conditional probability and Bayes’ rule, independent events, random variables and probability distributions, expectation, variance and higher order moments, functions of random variables, properties of commonly used discrete and continuous distributions, density and distribution functions for jointly distributed random variables, mean and variance of jointly distributed random variables, covariance and correlation coefficients. |
Mathematical Statistics | Random sampling, types of sampling, point and interval estimation, estimation of population parameters using methods of moments and maximum likelihood procedures, properties of estimators, sampling distribution, confidence intervals, central limit theorem, law of large numbers. |
Hypothesis Testing | Distributions of test statistics, testing hypotheses related to population parameters, Type I and Type II errors, the power of a test, tests for comparing parameters from two samples. |
Correlation and Regression | Correlation and types of correlation, the nature of regression analysis, method of Ordinary Least Squares (OLS), CLRM assumptions, properties of OLS, goodness of fit, variance and covariance of OLS estimator. |
IIT JAM 2024 Indian Economy Syllabus
Topics | Sub-Topics |
Indian economy before 1950 | Transfer of tribute, deindustrialization of India |
Planning and Indian development | Planning models, relation between agricultural and industrial growth, challenges faced by Indian planning |
Indian economy after 1991 | Balance of payments crisis in 1991, major aspects of economic reforms in India after 1991, reforms in trade and foreign investment |
Banking, finance and macroeconomic policies | Aspects of banking in India, CRR and SLR, financial sector reforms in India, fiscal deficit, savings and investment rates in India |
Inequalities in social development | India’s achievements in health, education and other social sectors, disparities between Indian States in human development |
Poverty | Methodology of poverty estimation, Issues in poverty estimation in India |
India’s labour market | Unemployment, labour force participation rates |
IIT JAM 2024 Mathematics for Economics Syllabus
Topics | Sub-Topics |
Preliminaries and Functions of one real variable | a. Set theory and number theory, Graphs, elementary types of functions: quadratic, polynomial, power, exponential, logarithmic, sequences and series: convergence, algebraic properties and applications b. Continuous functions: characterisations, properties with respect to various operations and applications c. Differentiable functions: characterisations, properties with respect to various operations and applications d. Second and higher order derivatives: properties and applications |
Single-variable optimization | Geometric properties of functions: convex functions, their characterisations and applications, local and global optima: geometric and calculus-based characterisations, and applications. |
Linear algebra | Vector spaces - algebraic and geometric properties, scalar products, norms, orthogonality, linear transformations: properties, matrix representations and elementary operations, systems of linear equations: properties of their solution sets, determinants: characterisation, properties and applications |
Functions of several real variables | Geometric representations - graphs and level curves, differentiable functions: characterisations, properties with respect to various operations and applications, second order derivatives: properties and applications, the implicit function theorem, and application to comparative statics problems, homogeneous and homothetic functions: characterisations and applications |
Multivariate optimization | Convex sets, geometric properties of functions: convex functions, their characterisations, properties and applications, further geometric properties of functions: quasi-convex functions, their characterisations, properties and applications, unconstrained optimisation: geometric characterisations, characterisations using calculus and applications, constrained optimi- 33 sation with equality constraints: geometric characterisations, Lagrange characterisation using calculus and applications, properties of value function: envelope theorem and applications |
Linear programming | Graphical solution, matrix formulation, duality, economic interpretation |
Integration, differential equations, and difference equations | Definite integrals, indefinite integrals, and economic applications, first order difference equations, equilibrium and its stability, first order differential equations, phase diagrams, and stability |
IIT JAM Economics 2024 Exam Pattern
Candidates can check out the IIT JAM 2024 exam pattern of Economics in the table provided below. This will give you an idea of which topics are more important, allowing you to plan accordingly.
Exam Duration | 3 Hours |
Total No. of Questions | 60 Questions |
Total Marks | 100 Marks |
Total Sections | 3 Sections (A-B-C) |
Type of Questions | Section A has 30 Multiple Choice Questions Section B has 10 Multiple Select Questions Section C has 20 Numerical type Questions |
Marking Scheme | Negative marking for section A No negative marking for sections B & C. |
IIT JAM Economics 2024 Question Paper
Solving previous years' papers allows students to become familiar with the IIT JAM Economics 2024 exam pattern, including the marking scheme, types of questions, chapter weightage, and so on. Students gain an understanding of recurring topics over time. As a result, aspirants will have a better understanding of the most common questions on the IIT JAM Economics 2024. When students begin solving papers, they will have a good idea of how much time they will spend on each section.
Students can check out the IIT JAM Economics previous year question papers from 2021-2023 in the link provided below:
Also Read: IIT JAM 2024 Exam Guidelines
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