IIT JAM Economics Syllabus: PDF Link, Topics, Weightage & Preparation Guide

The IIT JAM (Joint Admission Test for Masters) added Economics (EN) as one of its test papers in recent years. The IIT JAM 2026 syllabus is designed to test both your theoretical understanding and quantitative skills in economics. Breaking down the syllabus into five major sections helps you strategize your preparation better:

• Microeconomics
• Macroeconomics
• Statistics for Economics
• Indian Economy
• Mathematics for Economics

Knowing not just the topics but also approximate weightage, overlaps, and common question areas is crucial to maximize your score in IIT JAM 2026.

IIT JAM Economics Syllabus: Download PDF

You can check the table given below to download the official IIT JAM economics syllabus released by the IIT Bombay.

Related IIT JAM Economics Syllabus Article Links

IIT JAM Economics Syllabus: Section-Wise Topics

Here’s a breakdown of the five major units and their subtopics:

• Microeconomics

1. 1. Consumer Theory: Preferences, utility, representation theorem, budget constraint, choice, demand (ordinary & compensated), Slutsky equation, revealed preference axioms 
   2. Production & Costs: Technology, isoquants, production functions (single & multiple inputs), returns to scale, short run vs long run costs, cost curves 
   3. Market Structures: Perfect competition, monopoly, monopolistic competition, oligopoly, price discrimination, competitive vs monopoly outcomes 
   4. General Equilibrium & Welfare: Exchange equilibrium, production equilibrium, efficiency theorems, social welfare, Pareto optimality 
   5. Game Theory: Strategic form games, Nash equilibrium, mixed strategies, examples like Cournot, Bertrand duopolies, Prisoner’s Dilemma.
   6. Market Failures, Public Goods & Asymmetric Information: Externalities, public goods, moral hazard, adverse selection, information asymmetry 

• Macroeconomics

1. 1. National Income Accounting & Circular Flow: Concepts, measurement, closed & open economy variants
   2. Behavioural & Technological Functions: Consumption (absolute income, life-cycle, permanent income), investment functions, money demand & supply 
   3. Business Cycles & Models: Classical and Keynesian models, multiplier analysis, IS-LM model (closed & open economy) 
   4. Inflation & Unemployment: Causes, types, measurement, theories, relationship between inflation & unemployment 
   5. Growth Models: Harrod-Domar, Solow model, endogenous growth models, steady state analysis 

• Statistics for Economics

1. 1. Probability Theory: Sample space, events, conditional probability, Bayes’ theorem, random variables, expectation, variance 
   2. Distributions & Joint Variables: Common discrete & continuous distributions, joint pdfs, marginal & conditional distributions 
   3. Mathematical Statistics & Estimation: Sampling, point & interval estimation, method of moments, maximum likelihood, properties of estimators (bias, consistency, efficiency) 
   4. Hypothesis Testing: Null vs alternative, Type I & II errors, power of a test, parametric tests, test statistics distributions 
   5. Correlation & Regression: Bivariate correlation, regression analysis, ordinary least squares, assumptions of CLRM, variance & covariance of estimates, goodness of fit

• Indian Economy

1. 1. Pre-1950 Economy: Tribute, deindustrialization, colonial impact 
   2. Post-independence Planning & Development: Five-year plans, agricultural vs industrial growth, challenges in planning, infrastructure 
   3. Economic Reforms Since 1991: Liberalization, privatization, trade & FDI policy changes 
   4. Banking, Finance & Policies: Role of RBI, monetary policy, fiscal policy, financial inclusion, inflation control
   5. Poverty, Inequality & Environment: Poverty measures, income and social inequality, regional imbalances, human development indices 

• Mathematics for Economics

1. Preliminaries & Functions: Real functions, sequences, series, limits, continuity, differentiability 
2. Differential & Integral Calculus: Partial derivatives, total differentials, integration techniques, definite & indefinite integrals 
3. Differential & Difference Equations: First-order differential/difference equations and applications 
4. Linear Algebra: Matrices, determinants, eigenvalues & eigenvectors, quadratic forms, symmetric matrices 
5. Optimization: Unconstrained and constrained optimization (Lagrange multipliers), second-order conditions, envelope theorem, duality, linear programming

Chapter-wise Weightage for IIT JAM Economics

There is no official fix weightage of IIT JAM Economics chapters, but based on previous year exam and analysis, you can check the expected weightage in the table given below

IIT JAM Economics Exam Pattern

You can get an overview of the IIT JAM 2026 exam pattern for Economics in the table below.

How to Prepare Effectively for IIT JAM Economics?

• Map your schedule by weightage: Start early with key chapters, then fill in the rest.
• Strengthen mathematical & statistical foundations: These are used repeatedly across economic theory and empirical questions.

• Use standard textbooks:

• Microeconomics – Varian / Pindyck & Rubinfeld
• Macroeconomics – Mankiw / Blanchard / Ahuja
• Econometrics & Statistics – Gujarati / Wooldridge / Agarwal
• Mathematics for Economists – Sydsaeter & Hammond / Chiang / Hoy et al.
• Indian Economy – Mishra & Puri / Ramesh Singh
• Solve past year papers: This gives you real question exposure and helps identify repeating themes.
• Take mock tests & timed sections: Especially practice mixed-topic sets to simulate actual exam conditions.
• Revise strategically: Keep formula sheets, summary notes, and revisit weak topics multiple times.
• Integrate theory & numericals: Many Economics questions require blending concept with calculation.

Conclusion

The IIT JAM Physics Syllabus 2026 covers a wide range of topics, including mathematical foundations, classical physics, contemporary subjects, and electronics. Understanding which chapter is more significant is nearly as crucial as understanding the subjects. Utilize the above section-by-section arrangement, practice problem-style questions, match your preparation to weighting trends, and make strategic revisions.