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
- Introduction
- National income aggregates
- Inflation
- Money and banking
- Fiscal policy
- Public finance budget, taxation, finance commission
- Poverty
- Employment
- Financial market
- Agriculture
- Exchange rate and international trade
- Planning
- Subsidies
- Industries and economic reform
- Land Reform
- Food processing in India
- Inclusive growth
- Infrastructure and
- 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 |