Prepare UPSC Economics: Check out Strategy to Prepare UPSC Economics Optional subject 2021 – Study Strategy. UPSC Mains Economics Optional subject Preparation Tips are provided here. UPSC Notification 2021 has released. Today we’ve provided a Preparation strategy (यूपीएससी अर्थशास्त्र वैकल्पिक विषय) for UPSC Economics optional Paper. UPSC has already announced the IAS / Civil Services Exam Dates. Before going to start the preparation strategy for UPSC, know UPSC Mains Syllabus. You can check Suggested Strategy for Economics optional for the UPSC IAS mains exam.
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How to Prepare UPSC Economics Optional Subject
Economics in UPSC Mains has been gaining steady popularity, mainly due to the fact that few toppers had chosen this subject and many others have got handsome marks. But that shouldn’t be the criterion that determines whether you chose a subject as your optional. If the aspirant is a graduate in Economics, then all that you need to cover the concepts and theories first. After that aspirants have to work on current affairs, additionally to give a final touch as per the UPSC Civil Service Exam syllabus.
- know your UPSC Civil Services Exam syllabus
- Select Best Reference Books
- Prepare a Study plan
- Prepare own Preparation Notes
- Practice Previous Question Papers
- Practice few Mock Test Papers
Why Economics optional?
Economics is one of the optional subjects offered by the UPSC in the civil services mains exam. Though not as popular as some other subjects like Public Administration or Geography, Economics has a good success rate among candidates. Economics is a very interesting optional and over the past few years, it has gained a lot of popularity mainly owing to the fact that many toppers had chosen this optional and it has been a scoring subject all along. The subject is technical and at the same time, it is equally relevant in current times.
UPSC Preparation Tips
UPSC Aspirants should follow exam tips to write the exam. Preparation tips are needed for any exam. UPSC exam should be conducted once in every year. Planning and hard work are very important to face any competitive exam. Below are some of the tips for preparation. Paper I primarily deals with the theoretical aspects of economics and consists of Advanced Micro Economics, Advanced Macro Economics, International Economics. Paper-II deals with the Indian Economy after Independence.
Step 1: Know UPSC Economics syllabus
In the previous article, we’ve provided UPSC Mains Economics Syllabus. You can check and find what are the applicable topics and chapter for UPSC IAS Mains 2021 Exam.
Step 2: Select Best Reference Books for UPSC Economics
To prepare the UPSC Economics Optional Subject, UPSC aspirants should prepare some reference books. We’ve already provided UPSC Reference Books for All optional papers. You can check our best-recommended books for the IAS exam at the given link below. The suggested books are included in optional and language Subjects.
Recommended books for Economics:
- An Introduction to Economics – A.W. Stonier and D.C. Hauge
- Banking – S.B. Gupta
- Dictionary of Economics – Graham Bannock; T.E. Baxter, Ray Rees
- Economic Growth and Development – Mayer and Baldwin
- Economics Choice – Koutsweanik
- Growth and Development – M L Jhingan
- Indian Economy – Mishra and Puri
- National Income Accounting – Neethu
- Outline of Monetary Economics – A.C.I. Day
- Public Finance – H.L. Bhatia
- Modern Banking – R.S. Sayers
Step 3: Prepare a Study Plan
The study plan is very important for every exam preparation. It plays a key role in the success of getting a good score in the UPSC exam. Prepare a study plan for the UPSC exam. Make a monthly plan, weekly plan, and daily schedule to prepare UPSC Economics Optional Paper. Allot the time for exam preparation and set the time for playing, eating, watching TV, and studying.
Daily prepare a few hours and spend at least 8 hours for IAS exam preparation.
UPSC Economics Preparation Plan for 3 months
If you have 3 months of preparation time for the UPSC Mains exam, you can prepare 8-9 hours per day.
|UPSC Preparation Plan for Economics (Before 3 Months)|
|Paper A – Indian Language||1 hr daily|
|Paper B – English||1 hr daily|
|Paper 2 – General Studies 1||1 hrs. daily|
|Paper 3 – General Studies 2||1 hrs. daily|
|Paper 4 – General Studies 3||1 hrs. daily|
|Paper 5 – General Studies 4||1 hrs. daily|
|Paper 6 – Economics Optional Paper 1||1 hrs. daily|
|Paper 7 – Economics Optional Paper 2||1 hrs. daily|
Step 4: Prepare UPSC Economics Important Topics
Economics Paper I and Paper II Important Topics
- Economic growth and development – basic concept and definition of economy and economics, use and transfer of resources, distributive effects, macro, and microeconomic policy, micro-macro balance, the distributive impact of economic policies, development versus growth, determinant of growth and development, concepts such as HPI/MPI, HDI, PQLI, GEM, GDI/GII, TAI, Green index, sustainable development, India’s ranking in the various indices.
- Poverty – definitions, causes, distribution-deprivation, income versus calories, measurement of poverty, the status of poverty, eradication programs, poverty and resource policy, tribal rights and issues, livelihood mission.
- Inclusion – definition, relevance, types, financial inclusion, recent initiatives.
- Demographics – census data, populations by gender, by state, by age group, socio-economic status, caste, religion, literacy levels, etc. Trends in human development – interstate comparison, etc.
- Fiscal policy – definition, component, receipts, revenue and capital account, tax revenue, expenditure, budget.
As you know the marks of the optional paper are crucial to deciding your ranking in the final list, you to have to perform exceptionally well in the paper of your choice. Since the rest of the papers are compulsory for all, its only the optional paper that can make or break your fortune. So don’t try to do selective reading and gamble, as there is only one optional paper now.
Final Step: Prepare UPSC Economics Previous Question Papers & Practice papers
Download UPSC Mains Economics Question Papers. We’ve provided UPSC mains Economics Previous Question papers for download in PDF format.
Who should opt for Economics?
Economics is a very interesting optional and over the past few years, it has gained a lot of popularity mainly owing to the fact that many toppers had chosen this optional and it has been a scoring subject all along. The subject is technical and at the same time, it is equally relevant in current times. You should assess your own interest and aptitude before selecting economics as your optional. He/She may score well in Paper I which is like general studies but Paper-II becomes the eliminating factor if it is not covered exhaustively.
How much time does it take to prepare?
4-5 months, if you study Economics 12-15 hours per week. This should be enough. Also, it depends on how much can you recall your graduation concepts.
Ideally, aspirants need 4-5 months to complete the optional subject solely. Here we are giving the best suitable strategies for Economics optional for the UPSC IAS Mains Exam.
- Aspirants should have an exhaustive knowledge about the syllabus of Economics optional.
- Candidates should know the basic concept of Economics to tackle Paper-II.
- Make short notes, flowchart and diagram will preparing. These short notes will help in revision time.
- Aspirants should guarantee that they are emphasizing sustainability and economic dimensions also.
- Aspirants opting for Economics as their option should update the up-to-date data taken from Government reports annual reports regarding Economics.
- The essential part of UPSC IAS Exam preparation is solving the previous year’s UPSC Mains questions papers. Economics also aspirants should go through the Previous year question paper to extract an idea about exam patterns, trends, etc.
This article titled “How to Prepare UPSC Economics Optional subject 2021 – Study Strategy – Suggested by Toppers ” gives the detailed information about the tips for the preparation of the UPSC 2021 exam for all optional papers. Additional information like Reference books (यूपीएससी अर्थशास्त्र) for UPSC Mains, IAS Previous question papers are also given above. Students should follow those tips and prepare well for the exam and download the links for more information about UPSC.