Syllabus and Preparation for Economics

Reading and understanding economics is an essential part of any person, it is a subject that is useful in the life of every person, no matter what you are doing in your life, you need to understand the economy only then you understand the economy. If we want to make our life better then we should have money and if we have money then we can live the right life, we are able to do the things that we want, for all these things Economy and Economy means that if you understand the economy in a good way, then let us explain to all of you today what things you should understand in an exam like Union Public Service Commission and what you will get which will give you more and more I will tell you the benefits for UPSC IAS Exam, which will be useful for Economics Basic and Man Examination, which you call UPSC Pre Exam and UPSC Main Exam will be useful for both of them. I advise you not to take it always read any subject for UPSC Mains Motivation so that your UPSC Pre Self is ready.

You must first understand the correct way to read and understand economics

As we are able to understand from the economy that there is a daily change that happens daily, that is to say, it is a subject that has to be understood according to the current topic, although there would be a lesson in economics and a dynamic text What we people have to understand is the static parts is what we call the foundation of economics and in which we are able to understand economics, but it is the basic things that are useful in the economy. To interlink with him and to update our knowledge, if we continue to update things, only then we will be able to understand the economy properly because the economy is changing. It goes along and it is going forward every day. We should also understand that what things will happen in UPSC syllabus which is useful for us.

UPSC IAS Economics Syllabus

  1. Introduction
  2. National income aggregates
  3. Inflation
  4. Money and banking
  5. Fiscal policy
  6. Public finance budget, taxation, finance commission
  7. Poverty
  8. Employment
  9. Financial market
  10. Agriculture
  11. Exchange rate and international trade
  12. Planning
  13. Subsidies
  14. Industries and economic reform
  15. Land Reform
  16. Food processing in India
  17. Inclusive growth
  18. Infrastructure and
  19. Miscellaneous topics like WTO, World Bank and IMF

Reference Book and Study Material for Preparation of UPSC IAS

  • Read the articles and watch the video
  • NCERT books:
  • Class 12: Microeconomics
  • Class XI: Indian economic development
  • Class 10th: Understanding economic development
  • Class 9th: Economics
  • Ramesh Singh
  • Dutt & Sundaram (this is only for reference)
  • IGNOU notes (only for reference)

Newspaper and magazine:

  • The Hindu or Indian Express ( Only business page)
  • Any Standard  business newspaper ( only relevant topic)
  • India yearbook
  • Yojana
  • Kurukshetra
  • Budget
  • Economic
  • Survey and
  • Previous year question paper at least 5 year for both prelims and mains

Economics is the art to meet unlimited needs with scarce resources.” – Laurence J. Peter

I am going to discuss with you the preparation strategy which is needed for you to cover the economics syllabus for UPSC Prelims and as optional economics subject for Mains examination. You will also learn how to study Economics for UPSC examination.  So if you are interested to learn how to prepare for economics what is the syllabus for UPSC economics prelims and mains then you continue to study this article.

Topic-wise distribution of questions in the economics optional in UPSC mains:

Topics Probable Number of Questions
Indian Economy 40-45
Micro and Macro Economics 35-40
International Economics 15-20
Money, Banking & Public Finance 10-15
Growth and Development 10
Statistics 7-10

Important Topics to Focus On:

  • Features of Indian Economy – Division of economic activities, poverty, unemployment, HDR, measures to eradicate poverty
  • Basic Economic Indicators – national income, price index, production, population, foreign trade
  • Population – growth, census, consumption pattern (energy)
  • National income – concepts, methods of calculation
  • Agriculture – crops, seasons, agricultural credit agencies, Kisan Credit agencies, land reforms, insurance, green, white, blue, yellow revolutions, irrigation
  • Industry – industrial policies (1948, 1956, 1991), small scale industries, key industries, industrial sickness, the different committees, disinvestment, PSU policy, industrial finance
  • Foreign trade – composition, direction, EXIM policy, WTO, balance of payments, measures to improve foreign trade
  • Money and banking – Money market, credit control (different rates), commercial banks, cooperative banks, NBFCs, committees, SEBI, stock market developments, insurance industry, new banking sector reforms, money supply measures, inflation, deflation
  • International organisations
  • Planning commission – five year plans
  • Public finance – finance commission, taxation, deficit financing, public spending and debt
Topic Sub Topics
Basics of Economics

National Income (GDP, GNP, NNP, Personal Income etc.)

Overview of Indian Economy
Basic Economic Theories
Inflation Inflation (Types and Effects)
Various Price Indices in India (CPI, WPI, CPI-AL, CPI-RL etc.)
Monetary Policy/ Fiscal Policy

RBI and Monetary Policy

 Introduction of Union Budget
15th Finance Commission of India
Economic Survey 2020 PDF
Union Budget 2020-21
Banking system in India     History of Banking in India
 Banking system in India
 Public Sector Undertakings(PSUs) in India
Merger Of Banks in India
Strategic Disinvestment of PSUs
Financial Market Introduction to Financial Market 
Money Market Overview

Capital Market

Planning and Investments Five Year Plans: History of Economic Planning in India
Investment Models
Indian Economic Slowdown
Sectors of Indian Economy: Primary Agriculture In India
Land Reforms in India
Issues related to direct and indirect farm subsidies
Minimum Support Price (MSPs)
Issues Of Buffer Stocks
Contract Farming in India
Public Distribution System in India
Blue Revolution in India
Food Processing in India
Sectors of Indian Economy: Secondary Micro, Small and Medium Enterprises (MSMEs) in India
Sectors of Indian Economy: Tertiary Food Processing in India
E-Commerce in India
Mega food parks in India
Infrastructure Privatisation of Indian Railways
National Infrastructure Pipeline (NIP)
Dedicated Freight Corridors
Foreign Trade   Balance of Payment- Current Account Deficit
World Trade Organisation
Role of International Labour Organization (ILO) in Social Security
Government Schemes and Policies Government Schemes launched by various Ministries of GoI 
LPG Reforms in India
 Human Development Issues  Different type of Unemployment
Poverty in India
Human Migration Issues in India
Miscellaneous Global Crude Oil Prices Crash
Drug Pricing Policy in India
Strategic Petroleum Reserve In India
NITI Aayog and the Important Reports
Pradhan Mantri Garib Kalyan Yojana
MGNREGA; the Contribution in Strengthening the Rural Economy

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