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How To Prepare Economy FR Upsc
How To Prepare Economy FR Upsc
Basic approach for UPSC Civil Service Exam is given below. (For other
exams it varies according to their pattern)
Approach: Microeconomics
Only do selective study from NCERT Class 11 Microeconomics, as
following.
1. Elasticity of demands (ch2) + Giffen goods (internet)
2. Law of diminishing marginal product (ch 3.4)
3. Perfect competition (ch4.1): only features.
4. Non-competitive markets: (ch.6)
1. features given @intro
2. Monopolistic competition (ch.6.2.1)
3. Oligopolistic competition (ch 6.2.2)
5. Price ceiling and Price floors (ch5.2): only basic definition
6. Glossary: only MCQ worthy definitions.
Approach: Macroeconomics + Indian Economy
GDP GNP Growth Basics
NCERT Class 12 Macroeconomics After NCERT
Ch. 2 National Income Accounting
Circular flow of income.
How to calculate national income (ignore
minute details/fomulas)
GDP, GNP, NNP, deflator and their
formulas.
Ramesh: Ch1. subtopic ideas of national income
Ch2 GDP vs Welfare topic (given at the end of
this chapter)
1. RAMESH: Ch 2 growth and development.
2. Human Development index: Theory + current (Mrunal under
Economic Survey ch. 13 summary) + Schemes.
3. Then newspaper + Yojana/Kuru +Magazines =>pib.nic.in
Money Banking Finance
NCERT Class 12
Macroeconomics
After NCERT
Ch. 3 Money & Banking:
Supply of money,
Functions of RBI
Ramesh
12 Banking
11. Financial market => 14 Securities Market (Stock exchange, FII, QFI etc.)
13 Insurance
Current:
Economic Survey ch5 (FI)
Legal angle: CSR, company law, SEBI powers
Committees: Mayaram FDI-FII, Bimal Bank License, Nachiket Fin. Services, PJ
Nayak Governance in Bank boards. list goes on.
Scam like: Bitcoin, Ponzi Scheme, NSEL, SEBI-SAHARA, Money laundering
Growth/Inclusion Angle
Foreign Investment/ Foreign Trade
NCERT Class 12 Macroeconomics After NCERT
NCERT 12/macro/ch.6
Balance of Payment, Foreign Exchange
Gold standard, Bretton woods.
ignore Formulas and Charts. only one formula important:
National income: Y=C+I+G+X-M
+prepare all the terms in Glossary.
Ramesh
Ch15: External Sector
Ch16: IMF, World banks, OECD, ADB and
other intl.org (even for Mains)
Current (focus on these news)
1. CAD high, Rupee weak (Govt+RBI)
2. Bilateral investment
1. India 2015 Ch. on Commerce. (for Mains.)
2. Visits and agreements. (make notes)
3. WTO: current (Bali summit, agro subsidy)
4. Infra, Food processing related (GSM3)
Taxation/ Fiscal policy
NCERT Class 12 Macroeconomics
Chapter 5
Revenue and capital account
Measures of deficit
Changes in Expenditure : ignore graph and formulas
Debt, deficit
After NCERT
Laxmiankths book on Indian Polity. also available in Hindi
Ch. on parliament=>budget making, chapters on Central state relations,
federalism and CAG.
Ramesh Singh :
Ch. 18 Public finance.
Ch.17 Taxation
Lastly, GSM (MCQ)
(optional) Laxmikanths book on Pub.Ad:
Chapter on Financial Administration,
Union Government in India (PSU)
Approach: Indian Economy (for UPSC)
For Indian Economy- the approach must be prelim cum mains. (Prelim-
oriented jugaad preparation doesnt work anymore- because UPSC
professors designing tough MCQs to break the backs of coaching classes
and senior players.) Anyways you should approach the basic of Indian
Economy following sequence:
#1: Background + British Raj/Pre-independence
NCERT 12: Fundamental of Human Geo.
1. Unit III (ch.5 to 9): sectors of economy
Colonialism, Imperialism, industrial revo.
1. NCERT (old) class 10, first chapter (Mrunal.org/history)
2. Bipin Chandra (Ch7) Economic Critique
3. NCERT class11 (economy) Chapter 1
#2: Agriculture/land reforms
NCERT (economy) class11 Chapter #2:
1. Planning topic ==>Ramesh 4 and 5
2. Land reforms topic => India Yearbook for schemes (rural development).
1. To prepare land reforms for Mains, go through
1. Mrunal.org/polity
2. Bipin Chandra: India Since Independence (ch.29 to 31)
3. Green revolution
0. NCERT geography books for more on Indian agriculture, cropping patterns,
soil types.
1. India Yearbook 2014: MSP, NAFED etc from agriculture chapter
2. Ramesh Singh Ch.8.
3. Mains: Food processing- Ive written whole article series [Food
processing], links given above.
4. Mains: Bipin Chandra: India Since Independencech33
+ Maintain notes from Yojana, newspapers, PIB etc. for issues related to
land reforms, subsidies, rural development and planning.
#3: Rural development
NCERT class11: Ch.6 Rural development
Rural banking=>RRB, financial inclusion (Mrunals articles)
Agri.marketing=> Food processing (Mains) (Mrunals articles)
Organic farming & its benefits.
Eco.Survey ch8 (agri. Food Management)
IYB chapter (Agri, rural urban Development)
#4: Industrial development
NCERT (economy) class11
Chapter 2: Industrial policy resolution, Import substitution, Permission
raj
Chapter 3: LPG
Ramesh Singh
Ch.6 (Economic Reforms)
Ch7 Inflation. (+newspaper)
ch9 (Indian industry and infra.) licensing, policy, disinvestment
Budget + Economic survey + IYB
Mains: Bipin PI Ch.25-28
#5: Infrastructure
1. NCERT class11: Ch.7 infrastructure
1. Energy=> renewable/non sources (GSM1); infra. (GSM3). For geography
angle, refer to Majid Hussian or DR Khullar.
2. Health infra.=> MDG, Public health, Schemes (GSM2 social sector
schemes)- given onMrunal.org/snt
2. Ramesh Ch 9 and ch.22
3. Economic Survey ch. 9, 10 and 11
For Mains: 12
th
FYP plans points/recommendations for infrastructure.
#6: Poverty, Human resources
NCERT class11:
1. Ch4 Poverty: poverty line, Causes of poverty
2. Ch5 human capital formation
3. Ch7 Employment
Prelim cum mains (GS1 and GS3)
0. Ramesh: ch.21 Demographic dividend, Ch. 22 human development
1. Eco. Survey ch.2 and ch.13
2. Census 2011, skill Development (Yoj/Kur/12th FYP/Schemes)
#6: Sustainable development / Desi liquor
1. NCERT class11: 9
1. Carrying capacity, ozone depletion etc. basic
2. for biodiversity /environment angle: additionally prepare NCERT
sci/geography, NIOS
2. Ramesh Ch.20
3. RIO+20 (Mrunal.org/enb) This summit is old topic but gives decent fodder
points for essay/interview.
4. Economic Survey ch. 12
Once this is done, you may go through remaining chapters of
NCERT/Ramesh as per your time/mood.