How to decode the Economy Syllabus?

There are no results to success. It is a result of preparation, hard work, and learning from failure. Hola! Aspirants welcome to the series of Encode-Decode. In this article, we’ll guide you through the strategy and syllabus of Economy that Best Coaching for OAS in BBSR provides. So let’s start decoding the aspects, attention, and approach the subject requires from the exam point of view.

Economics, indeed being one of the important subjects in the UPSC examination, is also the most dynamic subject to prepare in. Economics is nothing but the study of the economy and flow of money. This requires high attention to crack the exam. The high leads to cracking this subject are the concepts and the daily current affairs that you read. The economy comprises 13% of questions in the prelims and you can expect 10+ questions in the preliminary examination. 

Syllabus for Economics

The GS-3 in Mains has economics as one of the subjects and one can expect 5 questions in the second tier of the examination. This shows how important economics is from an exam point of view. Now let’s have a look at the syllabus that the Union Public Service Commission plus all Best IAS Coaching Centre in Bhubaneswar already provided. The major units include the following:

1.    Indian economy post-independence

2.    National income accounting

3.    Money and Monetary Policy

4.    Inflation

5.    Banking sector

6.    Financial market

7.    External sector

8.    Poverty, inclusive growth, and unemployment

9.    Agriculture

10. Industrial sector

11. Infrastructure sector

12. International organizations

13. Various Reports and Indices

Before escalating to the Booklist. A candidate should thoroughly know the branches of economics which are microeconomics and macroeconomics. Microeconomics is the study of the economy at an individual level whereas macroeconomics is the study of the Economy at the Government level. We need to focus more on macroeconomics. 

Recommended Booklist

1.    The booklist for the subject is as follows:

2.    Basic book: NCERT Economics (Class IX, X, XI, XII)

3.    Standard book: The Indian Economy by Ramesh Singh, Indian Economy Key Concepts by Shankar Ganesh

4.    Advance book: Indian Economy by Sanjiv Verma

Once you have the booklist, now you must amplify the concepts with daily current affairs. For good command over the daily news, you can refer to the following sources:

·         Ministry websites of Water, power, agriculture, etc.

·         Economic survey

·         PIB

·         The Hindu/ The Indian Express economy section

·         India Year Book

·         Administrative Reforms Commissions Reports

This is more than sufficient for preparing properly for Economics with Best IAS Coaching in BBSR. We have the syllabus and the booklist now let’s begin with the necessary strategy required for the best prep of the subject. 

The 7-Step Strategy:

Beginning from decoding the syllabus to properly grabbing the topics is a clean 7-step activity

1.    Start with NCERTs basic reading - This will help in basic concept building and understanding of the syllabus.

2.    Note-making is very important.

3.    Try a topic-wise quiz and make small notes out of it - Topic-wise quizzes will help you to boost your confidence and more questions will help you with more information.

4.    Attempt reading the standard book - Indian economy key concepts by Shankar Ganesh is the standard book for the CSE and it requires 3-5 readings.

5.    Interlink Current Affairs, Basic concepts - This is highly required for a proper understanding of the system and processes of economics. Try to jot down the current affairs in your economics copy so that it’s easier to revise.

6.    Start solving previous year’s questions - Start with marking the topics and calculating the weightage of each chapter.

7.    Revise and keep adding current affairs, schemes, financial updates to your notes from PIB, The Hindu, and monthly magazines.

If you feel misinterpreting any topic, follow advanced books. This is the best way you can approach and understand the subject. As it is said, if someone helps you guide through anything then you can master it. Vajirao IAS Academy, Best IAS Institute in Bhubaneswar has all the facilities to make their students achieve success in their lives. We provide the best and limited material for UPSC preparation. New batches are starting soon.

Follow these steps religiously and in just a few days you’ll feel confident and spirited about this subject. The best way to excel in anything is to start loving and habituating it. Construct a proper routine and keep short targets for each day. Fetch your targets and revise regularly. Keep limited sources. Just follow the above-provided booklist. You’re all set for your Economics mock series and The UPSC CSE Exam ahead. All the best. Keep reading, Keep practicing. Carpe diem