Many of You have trouble in Economics.

So here I'm trying to share how I

approached the subject and how you can too.

Kuch Sahi Galat ho ya helpful na lage to pehle hi maafi 🙏 "A man can but
try".

To aaiye shuru karte hain. 🤝

Importance of Economics in UPSC Prelims

Number of Questions asked in Prelims from Economics

2018 2019 2020 2021 2022

18 14 15 10 17

● Somewhere between 15-20 Questions can be asked from Economics itself. (I'm not
including Agriculture in this. Add 4-5 questions from that also , if you will)
● Given that today the Cut-off for Prelims varies from 92-95 , if you can score 40% of the
Cutoff Marks from one subject alone , that subject becomes extremely Important.

🤙
● Economics is all about Concepts + Current. So Rattafication is not much required
here.

Important Topics
● National Income - GDP , GNP , NDP , NNP. (Must understand the difference between
these)
● Fiscal Policy - Expansionary and Contractionary , What fiscal measures need to be
taken to manage demand or inflation or interest rates.
● Monetary Policy - Same as Fiscal Policy.
● Banking and Financial Institutions - RBI (Functions , Policy Rates , MPC ,
CRR/RR/SLR/OMO) , NBFCs , NABARD, EXIM , MUDRA , Payment Banks ,
Development Banks etc.
● Budget and Economic Survey- No need to read entire summary , just find out
important Terminologies/Concepts/Trends.
● Basic Concepts of Macro - Inflation/Deflation/Hyperinflation etc , Interest Rates ,
Recession/Depression.
● Money and Capital Markets - Only Basics about Bonds/Debentures/Futures and
options etc
● International Organisations like World Bank , WTO , IMF etc
 ● External Sector - Basics of Current and Capital Accounts , Trends in Imports/Exports
etc

*For Micro nothing more than some basic concepts like - Demand-Supply , Utility etc has
to be done.

*I might have missed out on some important topics. So take it with a pinch of salt.

Sources to Refer
● Whatever you've been reading till now - revise that only.
● If you find gaps in those materials - you can refer Ramesh Singh/Nitin
Singhaniya/Mrunal.org to fill those gaps ONLY. Do not duplicate your efforts.
Remember that you've to prepare UPSC Syllabus and not some book. So jahan se ho
jaaye , wahan se karlo. Stress na lo.
● MUST be thorough with Current Affairs. Current Affairs form the major chunk of
questions from Economics in Prelims.
● If you've not read Current Affairs Magazines yet , No worries. Complete your static
portion now. Wait for March and as PT365 (or any other yearly compilation) comes ,
prepare the economy part thoroughly.

One extra thing I'd recommend for Economics?

● Read Vivek Singh 550 MCQs for Economics. I've done that personally and found it
useful. It covers all the important concepts quite well.

All The Best! ✌️

Regards ,
Raghvendra Sharma , IPS (2022)