IIT JAM Economics study plan

Map the full IIT JAM Economics syllabus into microeconomics, macroeconomics, statistics/econometrics, and mathematical methods, and rank each unit by weight and by your own diagnostic weakness

Derive and interpret Marshallian and Hicksian demand functions from Cobb-Douglas and quasi-linear utility functions, working 8 problems end to end

Compute price and income elasticities from demand functions and classify goods as normal, inferior, Giffen, or ordinary from the signs you obtain

Solve Slutsky and Hicks decomposition numerically for a two-good price change, showing substitution and income effects separately

Derive cost-minimising input demands and the long-run cost function for Cobb-Douglas and CES technologies

Distinguish short-run from long-run cost curves and explain the relationship between marginal and average cost algebraically

Derive profit-maximising output under perfect competition in the short and long run, including the shutdown condition

Analyse a monopoly's optimal price and output, compute the Lerner index, and compare deadweight loss against the competitive benchmark

Solve for Cournot, Stackelberg, and Bertrand equilibria in simple duopoly settings and compare prices and quantities across them

Model a two-player game in normal form, identify Nash equilibria in pure and mixed strategies, and classify dominant strategies

Explain adverse selection and moral hazard with one concrete market example each and state the screening or incentive mechanism that mitigates it

Compute expected utility and risk premium for a simple lottery and classify a consumer's risk attitude from the utility function

Derive equilibrium in the goods market and money market and solve for the IS and LM curves from given parameter values

Compute the effect of a change in government spending and in money supply on equilibrium income and interest rate

Distinguish the multiplier under a closed economy from that under an open economy with a given marginal propensity to import

Solve a two-period consumption-smoothing problem subject to a present-value budget constraint

Derive the Solow growth model's steady state and compute steady-state capital, output, and consumption per worker for given saving and depreciation rates

Compute the golden-rule saving rate and explain the transition path when actual saving differs from it

Distinguish demand-pull from cost-push inflation and derive the short-run Phillips curve trade-off from an expectations-augmented framework

Classify unemployment into frictional, structural, and cyclical types and compute the unemployment rate from labour-force data

Compute and interpret mean, median, mode, variance, standard deviation, and coefficient of variation for grouped and ungrouped data

Apply the binomial, Poisson, and normal distributions to word problems and compute probabilities using standard normal tables

Compute covariance and correlation, and fit an ordinary least squares line with intercept and slope from raw data

State the classical linear regression assumptions and identify which assumption is violated in a described scenario

Apply matrices to solve a two- or three-market equilibrium system and compute an inverse for a 2x2 case

Compute partial derivatives, total differentials, and Lagrange-multiplier solutions for constrained optimisation problems

Evaluate definite integrals and use them to compute consumer surplus from a linear demand function

Interpret elasticity, marginal revenue, and marginal cost using derivative notation in a single worked example

Revise every formula sheet from weeks 1 to 7 and rewrite from memory any formula you fail to reproduce

Complete two full-length timed mock papers under exam conditions and log every error by topic and error type

Rework all previously logged errors and confirm each is resolved without notes

Consolidate a final one-page rapid-revision sheet covering the highest-frequency concepts