ECO-1 IGNOU Guess Paper 2026-27

ECO-1 IGNOU Guess Paper: Term-End Exam (TEE) 2024 Solved Patterns & Key Topics

This digital PDF-style guess paper consolidates 5–10 years of solved TEE questions (June/Dec sessions) for ECO-1: Principles of Economics (Course Code: 010101), aligned with the official IGNOU B.Com (Hons) / B.A. (Economics) curriculum. Focus on chapter-wise weightage and time management strategies for 3-hour exams.

Core Syllabus Blocks & Scoring Priorities

• Unit 1: Introduction to Economics
  • Key topics: Definition, scope, and methods of economics; positive vs. normative economics; scarcity and choice; production possibilities curve (PPC) analysis.
  • Solved pattern: 10–15 marks per session (2026-27). Expect 2–3 short-answer questions on PPC shifts and economic problems.
• Unit 2: Theory of Consumer Behavior
  • Key topics: Utility theory (cardinal vs. ordinal), indifference curve analysis, budget constraint, and consumer equilibrium.
  • Solved pattern: 15–20 marks (2026-27). Prioritize mathematical problems (e.g., calculating marginal utility) and graphical interpretations of indifference maps.
• Unit 3: Theory of Production and Costs
  • Key topics: Production functions (short-run vs. long-run), law of variable proportions, total/average/marginal cost curves, and cost minimization.
  • Solved pattern: 12–18 marks. Focus on isoquant-isocost analysis and numerical problems (e.g., calculating optimal input combinations).
• Unit 4: Price Theory: Demand and Supply
  • Key topics: Market equilibrium, elasticity of demand/supply (price, income, cross), and application of elasticity concepts.
  • Solved pattern: 20–25 marks. Expect 1–2 long-answer questions on price determination under perfect competition/monopoly.
• Unit 5: National Income and Related Aggregates
  • Key topics: Concepts of GDP, NNP, and per capita income; circular flow of income; measurement challenges (e.g., non-market transactions).
  • Solved pattern: 10–15 marks. Prioritize calculations (e.g., computing GDP using expenditure/income methods) and comparative analysis of national income statistics.

Time Management Tips for 3-Hour Exams

• Allocate 40–45 minutes per section (e.g., 1 hour for Unit 2/3, 30 minutes for Unit 4).
• Solve numerical problems first (20–25 marks) as they carry higher weightage.
• For short-answer questions, use diagrams (e.g., PPC, indifference curves) to score partial marks.
• Avoid spending >10 minutes on any single question; flag tough ones and return later.

Subject-Specific FAQs

• Q: Are diagrams mandatory for scoring in ECO-1?

  Yes. Diagrams for PPC, indifference curves, and cost curves must be labeled accurately to secure 2–3 marks per question.

• Q: How to handle elasticity calculations in exams?

  Use the midpoint formula for price elasticity of demand/supply. Show all steps clearly; partial credit is given for correct methodology.

Downloadable Resources

• Previous year solved papers (2019–2024) available in the IGNOU Student Portal under 'Exam Resources'.
• Refer to Block-1 to Block-5 study materials for detailed theory and solved examples.