Currently, I am offering following courses in online mode
 IAS – Economics optional
 Indian Economic Services (IES)
 Test Series for IAS Economics Optional
 Test Series for IAS Economic Services
 IAS Economics Optional – Syllabus
 Indian Economic Services Syllabus
 UGC NET Economics – Syllabus
These are the classes which we have taken in 2021, Indian Economic Services course. Herein we are also mentioning the primary and secondary texts for topics.
General Economics 1
Part 1
 Theory of Consumer Demand
(Readings : Hal Varian primarily; for few topics use HL Ahuja, which are not clearly given in Varian)
 Cardinal Utility Approach
 Indifference Curve Analysis and Utility function (Part 1) : Rational Preferences, Diminishing MRS, Properties of Indifference Curves
 Indifference Curve Analysis and Utility functions (Part 2) (Demand functions) (IES 2011, 2015, 2017, 2018, 2019, 2020)
 Demand Functions  Neutrals  Economic Bads  Bliss Point (IES 2015) Concave Preferences (IES 2021) 
 Normal Goods, Inferior goods, Giffen Goods, Substitutes, Complements, Income Offer curve, Price Offer curve, Engel curves (IES 2012)
 Duality, Indirect Utility function, Expenditure function (IES 2013, 2014, 2018, 2010)
 Applications of Indifference Curve Analysis  Compensating and Equivalent Variation  Income Subsidy vs Price Subsidy 
 Price, Income and Substitution Effects (IES 2010, 2011, 2012, 2016, 2017)
 Slutsky equation and Demand Curve
 Comparison of Cardinal Utility Approach and Ordinal Utility Approach  IES 2013 
 Consumer Surplus  Part 1  (IES 2010, 2011, 2014)
 Consumer Surplus  Part 2 
 Application of Substitution and Income Effects  Intertemporal Choice  Case of a saver and a borrower 
 Revealed Preference Theory (IES 2019)
 Revealed Preference Approach  Derivation of Demand curve using Revealed Preference  Derivation of Indifference curve using Revealed Preference
 Elasticity of Demand and its relation with the Slope of Demand Curve (IES 2011, 2015, 2017, 2019)
 Cross Price Elasticity of Demand, Income Elasticity of Demand, Total Expenditure Method (IES 2011, 2013, 2014, 2016)
 Backward Bending Labour Supply Curve  Choice of Labour and Leisure 
 Choice Under Risk and Uncertainty (Part 1) : Simple, Compound and Reduced form Lotteries ; Preferences over Risk (Independence Axiom and Continuity Axiom); Expected Utility Function (VNM Expected Utility Function)
 Choice Under Risk and Uncertainty (Part 2) : Expected Utility function Unique (IES 2013); Risk Averse, Risk Loving, Risk Neutral; Arrow Pratt Measure of Risk Aversion; Demand for Insurance
 Certainty Equivalence  Risk Premium  Fair Insuarance  Demand for Insuarance  Numericals 
 Simple Games of Complete Information and Concept of Nash Equilbrium (IES 2012, 2014, 2016, 2018)
2. Theory of Production and Cost
(Readings : Nicholson and Snyder primarily; for few topics use HL Ahuja, which are not clearly given in NS)
 Laws of Returns to a Variable Factor  Ridge Lines  Economic Region of Production
 Factors of production and production function, Homogenous Production function and Expansion Path (IES 2015)
 Forms of Production Functions: Cobb Douglas, CES and Fixed coefficient type and Elasticity of Substitution
 Technical progress and Growth Accounting
 CES Production function and Elasticity of Substitution (IES 2012, 2017, 2018) And Laws of Variable Proportions and Laws of Returns to Scale
 Cost Minimization  Expansion Path 
 Cost Minimization, Example of Cost functions (IES 2020), Properties of Cost function, Returns to Scale (IES 2018)
 Cost function and Duality (IES 2019), Ushaped AC curve (IES 2010), Derivation of LTC, LAC and LMC curves
 Measures of Efficiency – Technical Efficiency, Allocative Efficiency, Productive Efficiency, X Efficiency
 Translog Production Function  Monotonicity  Marginal Product  MRTS  Elasticity of Substitution 
 Translog Cost Function  Elasticity of Substitution 
 Equilibrium of the Firm and Industry  Perfect Competition  Demand Curve  Supply Curve  Shut Down Point  SR Supply Curve  SR and LR Equilibrium 
 Equilibrium of the Firm and Industry  Constant Cost  Decreasing Cost  Increasing Cost Industry  IES 2015  Simple Numerical Question 
 Equilibrium of the Firm and Industry  Tax Incidence Analysis 
 Equilibrium of the Firm and Industry  Incidence of Tax  Numerical Question  IES 2015 
 External Economies and Diseconomies  LR Supply function  IES 2016 
 Profit Maximization (IES 2017)  CES Production function with DRS and CRS (IES 2014)  AP and MP (IES 2018) 
3. Theory of Value
 Pricing under different market structures (Part 1) : Monopoly Profit Maximization, SR and LR Equilbrium, No unique supply curve of a Monopolist
 Pricing under different Market Structures (Part 2) – Monopoly LR Equilbrium, Multiplant Monopolist, Lerner’s Index
 Pricing under different Market Structures (Part 3) – Monopolist will never operate on Inealstic Portion of demand curve (IES 2011), Deadweight loss of Monopolist (IES 2012), Monopolist’s Profits (IES 2014),Third Degree Price Discrimination
 Pricing under different Market Structures (Part 4) – First, Second and Third Degree Price Discrimination
 Pricing under different Market Structures (Part 5) – Two Part Tariff
 Pricing under Different Market Structures (Part 6) : Cournot Duopoly (Part 1)
 Pricing under Different Market Structures (Part 7) : Cournot Duopoly (Part 2 ) and Introduction to Bertrand Duopoly
 Monopoly Profit Maximization  IES 2019  Constant Elasticity of Demand and Monopoly Optimal  IES 2018  Measures to assess Monopoly Power  IAS 2014 \
 Pricing under Different Market Structures (Part 8) : Bertrand Duopoly Reaction Curves and a Numerical Example
 Pricing under Different Market Structures (Part 9) : Bertrand Nash Equilbrium Proof, Numerical Questions (IES 2018 and IES 2016), Introduction to Stackelberg Model
 Pricing under Different Market Structures (Part 10) : Stackelberg Model (Part 2) , Numerical on Stackelberg Model (IES 2014) and Introduction to Pricing in Incomplete Information
 Pricing in Incomplete Information – Adverse Selection in Market for Lemons and Insuarance Markets
 Pricing in Incomplete Information – Moral Hazard and Solution to Moral Hazard (IES 2012)
 Solution to Adverse Selection Problem and Difference between Partial Equilbrium and General Equilbrium Analysis
 Marshallian and Walrasian Stability Analysis (IES 2016) Part 1
 Marshallian and Walrasian Stability Analysis (IES 2012) Part 2
 Natural Monopoly and Bilateral Monopoly
 Marginal Cost Pricing and Average Cost Pricing and Natural Monopoly
 Peak Load Pricing
 Kinked Demand Curve Model of Oligopoly
 Monopolistic Competition  SR and LR equilibrium  Excess Capacity 
 Monopolistic Competition  Selling Costs  Perceived and Effective Demand  LR Equilibrium 
 Price Leadership Models  Low Cost Firm  Dominant Firm 
 Price Leadership by Dominant Firm  Barometric Price Leadership  Baumol’s Sales Maximization Model 
 Baumol’s Sales Maximization Model with Advertizing  Comparison between Different Market Structures 
 Comparison between Cournot and Bertrand  IES 2021  Cobweb Model 
 Cobweb Model (Part 2)  IAS 2014  Bain’s Entry Preventing Pricing Model  IAS 2016 
4. Theory of Distribution
 Theory of Factor Pricing and Income Distribution (Part 1) : Demand for a factor when there is only a single variable factor and when there is more than one variable factor
 Theory of Factor Pricing and Income Distribution (Part 2) : Demand for a factor when there are several variable factors, Supply of factor, Demand for a factor in a Monopolistic Market and Monopolistic Exploitation
 Theory of Factor Pricing and Income Distribution (Part 3) : Monopsonist Firm, Monopsonistic Exploitation
 Theory of Factor Pricing and Income Distribution (Part 4) – Bilateral Monopoly, Effects of Goals of Trade Union on its members
 Monopsony Numerical Questions
 Macro Distribution Theory of Ricardo ( Economic Rent and Elasticity of Factor Supply IES 2018)
 Ricardian Theory of Rent, Quasi Rent and Economic Rent & Elasticity of Factor Supply
 Marginal Productivity Theory  Euler’s Product Exhuastion Theorem 
 Clark Wicksteed Walras Product Exhaustion Theorem  Relative Factor Shares and Income Distribution 
 Smith’s Theory of Growth (Background to Macro Distribution Theories)
 Malthusian Theory and Ricardian Theory of Distribution
 The Conclusion of Ricardian Theory and Introduction of Marxian Theory
 Analysis of Marx’s Theory (Part 2)
 Harrod Domar Model (Part 1)
 Harrod Domar Model (Part 2)  Knife Edge Condition 
 Solow Growth Model (Part 1)
 Solow Growth Model (Part 2)
 Kaldor’s Model of Distribution (Part 1)
 Kaldor’s Model of Distribution (Part 2)
 Kaldor’s Model of Distribution (Part 3)
 Kalecki’s Theory of Distribution
 Kaldor and Kalecki Distribution Theory Questions  IAS 2009, 2011, 2016, 2018 
Welfare Economics
 General Equilibrium Edgeworth Box Pareto Efficiency Mathematical Condition and a Numerical Example 
 Competitive Equilibrium  Meaning and Example  Walras Law  First Welfare Theorem Meaning and Proof 
 Second Welfare Theorem  First Welfare Theorem under Simple Monopoly and Discriminating Monopoly 
 Social Welfare Function  Welfare Maximisation 
 Aggregation Principles  Desirable Properties of SWF  Arrow Impossibility Theorem
 Criterion of Social Welfare  Efficiency in Exchange, Production, Composition of output 
 Kaldor Hicks Criterion  Derivation of Grand Utility Possibility Frontier  Welfare Maximization 
 Kaldor Hicks Criterion and Scitovsky Double criterion
 Social Welfare Functions  GUPF  Welfare Maximization  PO is necessary but not sufficient condition for Welfare Maximization  IES 2021  IAS 2010  IAS 2017 
 Market Failure  Pareto Inefficiency  Imperfect Market Competition 
 Market Failure  Externalities  Consumption and Production Externalities IES 2017
 Market Failure  Externalities  Solutions to Externalities  Coase Theorem  Pigouvian Taxes  Arrowian Solution  IES 2020  IES 2019 
 Externalities  Coase Theorem  Limitations of Coase Solutions  (IES 2017)
 Public Goods  Characteristics  When it is Pareto Improvement to provide Public Goods  Quaslinear Preferences 
 Free Rider Problem  Voting Mechanism  Continous Public Good  MRS 1 + MRS 2 = MC (G) condition 
 Sen’s Capability Approach  Functionings  Capabilities  Agency 
 Numerical Questions on Externalities  IES 2019 
Mathematical Economics
 Mathematical Methods  Sets, Functions , Monotonicity, Convexity and Concavity 
 Exponential and Logarithmic Functions  Differential Calculus and its Applications (Part 1) 
 Applications of Differentials in Economics  Integrals and Applications of Integrals in Economics 
 Applications of Integrals in Economics  Matrix Algebra 
 Matrix Algebra  Part 2  Optimization  Part 1
 Optimization  Part 2 
 Optimization  Part 3 
 Optimization  Part 4  Difference Equations  Part 1 
 Difference Equation  Part 2  Differential Equations  Part 1 
 Differential Equations  Part 2 
Econometrics
 Correlation
 Regression
 Normal Equations, Assumptions of CLRM and Unbiasedness
 Variance, Covariance of beta two hat, Consistency and Gauss Markov Theorem
 TSS, ESS ,RSS and Confidence Interval Approach
 Confidence Interval for beta and sigma, one tailed and two tailed t test, Proof of r2 R2, and Test of Goodness of fit
 Regression through Origin
 Scaling and Units of Measurement
 Functional Forms and their Interpretation
 Multiple Linear Regression Model and Adj R2
 Comparing two R2 Values and Hypothesis Testing in Multiple Linear Regression Model=
 Testing of linear combinations, Indirect and Direct t test and Polynomial Curve Fitting
 Meaning of Multicollinearity  Exact Multicollinearity  Consequences of Ignoring Multicollinearity 
 Detecting Multicollinearity  Solutions to Multicollinearity  Meaning of Serial Correlation 
 Consequences of Ignoring Serial Correlation  Durbin Watson Test 
 Meaning of Hetroscedasticity  Visual Inspection  Tests for Hetroscedasticity  Generalized Least Squares 
 Dummy Variables  Meaning  Examples  Chow Test 
 Input Output Model (Open and Closed Model, Hawkin Simon Conditions)
Statistics
 Measures of Central Tendency  Arithmetic Mean of Ungrouped Data 
 Measures of Central Tendency  Median and Mode of Ungrouped Data 
 Measures of Central Tendency  Geometric and Harmonic Mean 
 Measures of Dispersion  Range  Variance  Mean Deviation 
 Measures of Central Tendency  Mean, Median, Mode, GM 
 Harmonic Mean  Measures of Dispersion  Part 1  Range, Mean Deviation, Variance 
 Measures of Dispersion  Moments  Skewness  Kurtosis Classical Definition of Probability
 Probabilty Thoeory  Total Probability  Baye’s Theorem 
 Mathematical Expectation
 Mathematical Expectation  Part 2  Binomial Distribution 
 Poisson Distribution  Probability Density Function 
 Normal Distribution
 The method of Curve Fitting  The method of Least Sqaures 
 Sampling and Test of Significance

 Only IAS Economics Optional Course : Rs 38,000
 Only Indian Economic Services Course : Rs 38,000
 RBI Grade B, DEPR : Rs 38,000
 IES + RBI Grade B, DEPR (Combined Package) : Rs 45,000
Only Test Series (IAS or IES) : a) Those who are enrolled in online course Rs 10,000 ( 12 Tests)
 b) Those who are not enrolled in the online course Rs 12,000 (12 tests)
You will be given an online platform where all these courses will be uploaded and its access will be for one year, from the date of purchase. These classes will be in the form of recordings, as you have seen in the demo
 Whether you should buy an online course?
May be or may be not. It depends, how you look at it. You can take my words for it, that we will do the complete course (infact more) and in time. Online version gives independence to both of us. As far as, doubts are concerned, there is a forum on the site, which gives you an ample opportunity to discuss your concerns. Anyhow, you can always talk to me, if you have any query
 How can I see the demo?
We have provided some small snippets of our lectures, you can view them at nishantmehra.com
 How will you help me in answer writing practice?
When you buy test series, then those tests will be checked and returned with comments. This will help you to keep track of your course as well as answer writing practice.
 Which all papers will you cover in IAS, IES and UGCNet?
I will tell you, what I will not cover. In IES exam, General studies and English paper will not be covered and in UGC Net Economics paper, Teaching Aptitude paper will not be covered. Apart from that, entire syllabus of IAS Economics Mains, IES and UGCNet Economics will be covered.
IAS Economics Mains
Entire syllabus of Paper 1 and Paper 2
IES (Indian Economic Services)
Paper 1, 2 , 3 and 4
UGC Net Economics
Paper 2 and 3
 What reference are you using of these lectures?
We will be telling before each lecture, which reference is used
 How will my doubts be cleared?
There is a forum on the website, you have to give us a day to answer your query. But there is a way to ask a doubt, whenever you ask a doubt, always tell, how much you are able to understand and what is your view and thinking about it, then we will tell, what is the correct approach to look at the problem
 How will I be getting the study material?
We will give you an access to our online platform, and you will be getting your material, primarily in the form of recordings. We will be recording each topic and will upload on the platform.
 Can I save or download these recordings?
No, you will not be able to save or download them. You can only view them for the time access has been provided to you.
 You are providing an online course, don’t you think that an online course is inferior to a classroom course?
I will not say inferior but it is the second best. You have to understand this very clearly, that there is no perfect substitute for a classroom course. If you can find a good teacher, who can teach you in a class, can complete the syllabus in a sufficient depth and does not just superficially touch the topics and haphazardly complete the course, you should join him in all cases. But, if you don’t find him, then you can come to me
 What are the other advantages of online course?
You are free of hassle of coming to classes. You can move at your own pace. You can get the same quality teaching irrespective of your location.
 Can I append you course with my existing coaching?
Yes, by all means. Even though our course is self sufficient, if you still want to be taught by more than one teacher about the same topic, that is your wish.
 Will I be getting any printed notes?
No. You will be getting the entire material in the form of recordings and you have to make notes of them. You will also be told references for each topic, which you have to read alongside the recording. Ultimately, its your paper, you should be writing as much as possible and your note taking skills should be Aclass, which will develop only when you listen to the lecture, read the reference and then take notes.
 If you will tell me all references, I may not need any coaching, is that true?
Go back to your college days, you were told which books you have to follow, but still you need classes in order to understand them, same holds true here also. Many of you would also know the subject very well, some of you might be a post grad in economics, but you will not have a time and discipline to assimilate the entire material in one place and do it systematically, there coaching might help.
However, if you still think, only references will suffice your need, I will give all references to you and you should start preparing on your own. If at anytime, while in the course of your self preparation, you believe that you need my help, you can always call me up.
 Will you start an offline / classroom course anytime soon?
I have not thought about it yet. At least, not anytime soon.Will inform you, once that is started.
 You have covered some topics in IAS course, which is not specifically given in the syllabus?
Yes, that’s true. You have to be little wider in your approach. If you look at the past years papers, they have asked questions from the topics not mentioned in the syllabus. For example, there is no mention of compensated demand functions or no mention of demographic change but they have asked it. But these topics can be prepared within the wider set of topics they have mentioned. So, I have covered some of these topics too, what I believe any serious aspirants should know.
 For how long I will have an access to the course?
For 365 days from the date of payment.
 How can coaching help me?
I am glad to answer this question. Coaching means, that your preparation will pick up pace. It means, that what you would have covered by yourself in a year, may be you can do that in five months. It means that your entire syllabus will be covered. It means that your doubts will be solved. It means that past years papers will be discussed. It means that standard books will be taught. It means that you will learn ‘a lot’ (emphasis added) But all of this will be possible only if you are willing to work.
I can assure you certain things:
 Your entire course will be covered in depth and not just superficially
 You will be taught from standard books at par with Delhi University
 Discussion of past years papers
 Solving your doubts
 I want to enroll in your course, what should I do?
After seeing the demo, if you want to enroll finally, you can give a mail to me at nishant@nishantmehra.com as your final acceptance, we will give you payment options and you can access the course for one year from the date of payment.
 Any other query or to finally register for the course
You can contact me at
Email : nishant@nishantmehra.com
Phone:9999886629