UPSC Economics 2025

Answer the following questions in about 150 words each : 10×5=50 (a) Show that when prices and income increase in the same proportion, there will be no change in quantity demanded…

(a) Derive Marshallian demand curve for an inferior good in a two-commodity framework by using income and substitution effects. Is this demand curve always negatively sloped ? Exp…

(a) Define liquidity trap. Show that fiscal policy is fully effective in the horizontal part while the monetary policy is fully effective in the vertical part of the LM curve. Ill…

(a) (i) Explain the effects of public spending on national income, if it is financed through government borrowings. (ii) Why do some believe that it is important to restrict the g…

Answer the following questions in about 150 words each : 10×5=50 (a) Define offer curve and explain its slope. 10 (b) What is J-curve effect ? Explain it graphically. 10 (c) State…

(a) Explain the price effect, protective effect, consumption effect, revenue effect and distributive effect of tariff in partial equilibrium framework. 20 (b) Define the concepts…

(a) Analyse critically the role of human capital and Research and Development (R&D) expenditure on economic growth in the framework of endogenous growth model. 20 (b) "Increasing…

(a) Explain the role of World Trade Organization (WTO) in the present context. Discuss the merits and demerits of TRIMs and TRIPs. 10+10=20 (b) Do you think that economic growth a…

Answer the following questions in about 150 words each: (a) Distinguish between the Zamindari system and the Ryotwari system of land revenue under the British rule in India. (10 m…

(a) Is land reform necessary to improve agricultural productivity in India? Discuss. (20 marks) (b) Critically analyse the constraints of public and private capital formation in I…

(a) Examine the objectives and components of the Green Revolution in India. (20 marks) (b) Why does inter-State disparity in income persist in India despite plethora of developmen…

(a) What are the methods used in measuring poverty and inequality in India? Analyse. (20 marks) (b) How have rural and urban economic development contributed to poverty reduction…

Answer the following questions in about 150 words each: (a) Discuss the components of food processing schemes introduced by the Government of India. (10 marks) (b) Do you agree wi…

(a) What are the causes of industrial backwardness in India? Critically evaluate the role of the New Industrial Policy, announced in July 1991, towards correcting such backwardnes…

(a) What is the sectoral composition of India's national income? Mention the most important source of national income in India. (20 marks) (b) What are the advantages and disadvan…

(a) How do the current Finance Commission's recommendations align with the Government's Fiscal Consolidation goals? Elucidate. (20 marks) (b) Why was the public sector given a lea…