Economics Mock Tests

Economics Syllabus for WB SLST 2025 (Class XI-XII)

Subject: Economics

Exam: WB SLST 2025

Group A: Microeconomics & Macroeconomics

• Basic Concepts
  Topics: Economic problems, demand and supply analysis, price controls, taxation and its impact.
  Note: Understand the fundamental economic problems and how market forces interact.
• Consumer Theory
  Topics: Concepts of utility, indifference curves, consumer equilibrium.
  Tip: Focus on graphical analysis and applications of consumer choice.
• Production & Cost
  Topics: Production function, short-run and long-run cost concepts, economies of scale.
  Emphasis: Differentiate between fixed and variable costs and their behavior over time.
• Market Structures
  Topics: Characteristics and outcomes of perfect competition, monopoly, oligopoly, and monopolistic competition.
  Exam Focus: Market efficiency, price determination, and firm behavior under different structures.
• Factor Pricing
  Topics: Determination of rent, wages, interest, and profit; role and impact of trade unions.
  Note: Understand factor markets and income distribution.
• National Income
  Topics: Methods of measuring national income (GDP, GNP), multiplier effect, fiscal policy tools.
  Tip: Practice numerical problems on national income calculation.
• Money & Banking
  Topics: Quantity theory of money, Keynesian theory, functions of the Reserve Bank of India and commercial banks.
  Emphasis: Monetary policy and its role in economic stability.
• Inflation
  Topics: Causes of inflation (demand-pull and cost-push), control measures.
  Exam Focus: Effects of inflation on economy and policy responses.
• Public Finance
  Topics: Taxation principles, public debt, government expenditure and budgeting.
  Note: Understand fiscal policy and its economic implications.
• International Trade
  Topics: Free trade vs protectionism, exchange rate mechanisms, balance of payments.
  Tip: Analyze the impact of trade policies on domestic economy.

Group B: Indian Economy & Development

• Development Economics
  Topics: Features of Less Developed Countries (LDCs), capital formation, population dynamics, economic growth models.
  Emphasis: Challenges and strategies for economic development.
• Development Strategies
  Topics: Balanced vs unbalanced growth approaches, role of development planning.
  Note: Understand the rationale behind different growth strategies.
• Trade & Environment
  Topics: Role of international institutions (IMF, World Bank), foreign aid, sustainable development principles.
  Tip: Focus on global economic cooperation and environmental concerns.
• Indian Economy
  Subtopics:
  • Agriculture: Agricultural reforms, marketing systems, Public Distribution System (PDS).
  • Industry: Public and private sector roles, labor issues.
  • Banking & Fiscal Policy: Functions of RBI, inflation control measures, Centre-State financial relations.
  • Trade & Planning: Export-import policies, Five-Year Plans, economic reforms post-1991.
  Exam Focus: Current issues and policy measures shaping the Indian economy.

Important Notes:

• Focus on application-based questions and case studies related to Indian and global economic scenarios.
• Practice graphical and numerical problems regularly.
• Keep updated with recent economic reforms and policy changes.