IIT JAM Economics Question Paper 2026 Analysis: Download PDF

IIT JAM Economics Question Paper 2026 Analysis: Shift 2

• The paper was largely theory-based, with limited emphasis on heavy calculations.

• Overall difficulty level was comparable to last year’s paper.

• Microeconomics was moderate in difficulty and not numerically intensive.

• A higher weightage of Statistics was observed compared to other sections.

• Around 2–3 questions were asked from the Indian Economy section.

• Questions related to LPG policy and Five Year Plans appeared in the paper.

• Very little mathematics was involved; only 2–3 questions required mathematical handling.

• In Macroeconomics, a strong focus was seen on the IS–LM framework.

• Approximately 4 questions were directly based on IS–LM, including intersection and income determination.

• About 4–5 questions were unpredictable, requiring conceptual clarity rather than pattern recognition.

• Only one small integration-based question appeared in the entire paper.

• The expected cutoff is likely to fall in the range of 75–78 marks.

IIT JAM Question Paper 2026 with Solutions PDF

Referring to the IIT JAM Economics question paper with answers PDF will help students understand the overall difficulty of the IIT 2026 JAM Economics question paper.

IIT JAM Economics 2026 Memory-Based Questions

IIT JAM Economics memory-based questions with solutions will be uploaded below after the exam. Stay tuned!

IIT JAM Economics Official Mock Test

The Indian Institute of Technology, Bombay, has created an IIT JAM Economics mock test 2026 for the IIT JAM Economics aspirants. It follows the same IIT JAM Economics exam syllabus and the difficulty levels. The candidates are strongly advised to attempt the official mock test to assess their preparation levels and make any changes to it if necessary.

IIT JAM Economics 2026 Previous Year Questions with Solutions

Practising IIT JAM previous year question papers with detailed solutions helps candidates understand the exam pattern, improve accuracy, and strengthen conceptual clarity. Below are selected solved Ecomics questions to give an idea of question types and solutions:

Q 1. For a positively skewed frequency distribution, _________.

(A) Mean > Median > Mode

(B) Mean < Median < Mode

(C) Mode > Mean > Median

(D) Median > Mode > Mean

Answer:

(A) Mean > Median > Mode

Explanation:

In a positively skewed (right-skewed) distribution, the tail stretches to the right, meaning there are a few unusually high values.

These high values pull the mean to the right, making it greater than the median, while the mode remains the peak of the distribution (the most frequent value).

So the order is: Mean > Median > Mode.

Q 2. In 1991, ________ Committee was set up by the Government of India to examine the structure, organisation, and functions of the Indian financial system.

(A) Rangarajan

(B) Reddy

(C) Narasimham

(D) Chakravarty

Answer:

(A) Rangarajan

Explanation:

In 1991, the Government of India set up the Rangarajan Committee to examine the structure, organisation, and functions of the Indian financial system.

The committee’s recommendations focused on improving the efficiency, regulation, and stability of financial institutions in India.

Q 3. The inflation targeting policy adopted by the Reserve Bank of India in 2015 prescribed the targeted inflation to vary between ________ percent.

(A) 2-6

(B) 2-7

(C) 3-8

(D) 3-7

Answer:

(D) 3–7

Explanation:

In 2015, the Reserve Bank of India (RBI) formally adopted an inflation targeting framework under the RBI Act, 1934 (amendment).

The target was set in terms of Consumer Price Index (CPI) inflation with a mid-point of 4% and a tolerance band of ±2%, i.e., the range is 3% to 7%.

The main objective was to maintain price stability while supporting economic growth.

Q 4. Which one of the following is distinct from the others?

(A) Histogram

(B) Pictogram

(C) Ogive

(D) Frequency polygon

Answer:

(B) Pictogram

Explanation:

Histogram, Ogive, and Frequency Polygon are all graphical representations of frequency distributions using axes, scales, and plots.

Pictogram, on the other hand, represents data using pictures or symbols rather than a standard graph. It is more illustrative and less mathematical in nature.

So, the pictogram is distinct from the others.

Q 5. Which one of the following is the shutdown condition for a profit-maximising firm in a perfectly competitive market?

P- Price, AVC- Average Variable Cost, ATC- Average Total Cost

(A) P<AVC

(B) P>AVC

(C) P<ATС

(D) P> ATC

Answer:

(A) P < AVC

Explanation:

In a perfectly competitive market, a profit-maximising firm will continue producing as long as it can cover its variable costs.

Shut-down condition: The firm should shut down in the short run if the market price (P) falls below the average variable cost (AVC), i.e., P < AVC.

Reason: If P < AVC, the firm cannot even cover the variable costs of production, and continuing production would increase losses.

If P > AVC, the firm may incur losses but can cover variable costs and part of fixed costs, so it continues production.

IIT JAM Economics 2026 Exam Pattern

The IIT JAM Economics exam is divided into three sections – Multiple Choice Questions (MCQ), Multiple Select Questions (MSQ), and Numerical Answer Type (NAT). The IIT JAM exam pattern and IIT JAM negative marking scheme are summarised below:

Additional Details:

• Negative Marking: Only MCQs have negative marking (⅓ for 1-mark, ⅔ for 2-mark questions).

• Duration: 3 hours.

• Syllabus Coverage: Includes Microeconomics, Macroeconomics, Statistics & Econometrics, Mathematical Economics, Growth & Development, Indian Economy, and Public Economics.

What’s Next After IIT JAM Economics 2026?

After the IIT JAM Economics 2026 exam, candidates should focus on the post-exam process related to results, counselling, and admissions. The official answer key and response sheet are released first, helping students estimate their scores. The final IIT JAM Economics 2026 result is then announced by IIT Bombay, the conducting institute for this cycle. Qualified candidates must apply through the JAM Online Application Processing System (JOAPS) for admission to MSc Economics and related postgraduate programmes. During counselling, candidates can choose institutes and programmes based on their IIT JAM rank, cut-offs, and seat availability. Institutes accepting IIT JAM Economics scores include IITs, IISc, NITs, DIAT, and IIEST. Candidates who receive seat allotment must complete document verification and admission formalities within the given timeline. Those who do not secure a seat in the early rounds can participate in further counselling rounds or apply to other institutes accepting IIT JAM scores.