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UPSC


Economics

Optional

  • UPSC Economics Optional Coaching

  • UPSC Economics Optional Syllabus

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UPSC Economics Optional Coaching

There are many subject domains from which aspirants can choose, and among them, Economics Optional has a fairly good success rate when compared to many other domains. Almost all aspirants who come from economics and have a strong economics foundation go for UPSC Economics Optional coaching online, as it provides them with the necessary guidance and resources.

 

Economics as a subject is considered practical, analytical, and logical. Therefore, all the aspirants who have prior knowledge of Economics (like in graduation) will always have a competitive edge over others seeking UPSC Economics Optional classes. They can complete the syllabus in fairly less time as they must have already covered the majority of topics earlier or would be familiar. This point is very important because we all know that covering the UPSC Economics Optional Syllabus takes a toll as it's huge.

 

In terms of UPSC Economics syllabus content, there are topics from Microeconomics, Macroeconomics, International Economics, Money, Banking, and Public Finance, Growth, and Development. These form the key for UPSC Economics Paper I. Whereas Paper II examines India's Economic conditions before and after independence, along with other important topics covered in UPSC Economics Optional classes.

At ArthaPoint Plus, elevate your UPSC preparation with our specialized UPSC Economics Optional coaching online. Our meticulously crafted curriculum comprehensively covers all facets of the UPSC Economics Optional syllabus, fostering a profound understanding of the material. Access valuable assistance through the informative video content accessible on our platform.

UPSC Economics Optional Syllabus

ArthaPoint Plus provides a comprehensive guide to the UPSC Economics Optional syllabus, offering valuable insights and effective strategies for success in the UPSC exam. Enroll today to gain exclusive access to previous year's question papers and benefit from expert advice, ensuring a thorough and strategic UPSC exam preparation.

UPSC Economics Optional Paper 1 Syllabus

1. Advance Micro Economics :

(a) Marshallian and Walrasian Approaches to Price determination.

(b) Alternative Distribution Theories : Ricardo, Kaldor, Kalecki.

(c) Markets Structure : Monopolistic Competition, Duopoly, Oligopoly.

(d) Modern Welfare Criteria : Pareto Hicks and Scitovsky, Arrow’s Impossibility Theorem, A. K. Sen’s Social Welfare Function.

2. Advance Macro Economics :

Approaches to Employment Income and Interest Rate determination : Classical, Keynes (IS-LM) curve, Neo-classical synthesis and New classical, Theories of Interest Rate determination and Interest Rate Structure.

3. Money-Banking and Finance :

(a) Demand for and Supply of Money : Money Multiplier Quantity Theory of Money (Fisher, Pigou and Friedman) and Keynes’ Theory on Demand for Money, Goals and Instruments of Monetary Management in Closed and Open Economies. Relation between the Central Bank and the Treasury. Proposal for ceiling on growth rate of money.

(b) Public Finance and its Role in market economy : in stabilization of supply, allocation of resources and in distribution and development. Sources of Government revenue, forms of Taxes and Subsidies, their incidence and effects. Limits to taxation, loans, crowding-out effects and limits to borrowings. Public expenditure and its effects.

4. International Economics :

(a) Old and New theories of International Trade.

(i) Comparative advantage,

(ii) Terms of Trade and offer curve.

(iii) Product cycle and Strategic trade theories.

(iv) Trade as an engine of growth and theories of underdevelopment in an open economy.

 

(b) Forms of protection : Tariff and quota.

 

(c) Balance of Payments Adjustments : Alternative Approaches.

(i) Price versus income, income adjustments under fixed exchange rates.

(ii) Theories of Policy mix.

(iii) Exchange rate adjustments under capital mobility.

(iv) Floating Rates and their implications for developing Countries: Currency Boards.

(v) Trade Policy and Developing Countries.

(vi) BOP, adjustments and Policy Coordination in open economy macro-model.

(vii) Speculative attacks.

(viii)Trade Blocks and Monetary Unions.

(ix) WTO : Trims, TRIPS, Domestic Measures, Different Rounds of WTO talks

5. Growth and Development:

(a) (i) Theories of growth : Harrod’s model;

(ii) Lewis model of development with surplus labour.

(iii) Balanced Unbalanced Growth.

(iv) human capitals and Economic Growth.

(v) Research and Development and Economic Growth.

(b) Process of Economic Development of less developed countries: Myrdal and Kuznets on economic development and structural change: Role of Agriculture in Economic Development of less developed countries.

(c) Economic Development and International Trade and Investment, Role of Multinationals. (d) Planning and economic Development: changing role of Markets and Planning, Private-Public Partnership.

(e) Welfare indicators and measures of growth—Human development indices. The basic needs approach.

(f) Development and Environmental Sustainability—Renewable and Non Renewable Resources, Environmental Degradation, Intergenerational equity development.

USPC Economics Optional Paper 2 Syllabus

Indian Economy in Pre-Independence Era :

Land System and its changes, Commercialization of agriculture Drain theory, Laissez faire theory and critique. Manufacture and Transport: Jute, Cotton, Railways, Money and Credit.

Indian Economy after Independence :

A. The Pre-Liberalization Era :

(i) Contribution of Vakil, Gadgil and V.K.R.V. Rao.

(ii) Agriculture: Land Reforms and land tenure system, Green Revolution and capital formation in agriculture.

(iii) Industry Trends in composition and growth, Role of public and private sector, Small scale and cottage industries.

(iv) National and Per capita income: patterns, trends, aggregate and Sectoral composition and changes therein.

(v) Broad factors determining National Income and distribution, Measures of poverty, Trends in poverty and inequality. B. The Post Liberalization Era :

(i) New Economic Reform and Agriculture: Agriculture and WTO, Food processing, subsidies, Agricultural prices and public distribution system, Impact of public expenditure on agricultural growth.

(ii) New Economic Policy and Industry: Strategy of industrialization, Privatization, Disinvestments, Role of foreign direct investment and multinationals.

(iii) New Economic Policy and Trade: Intellectual property rights : Implications of TRIPS, TRIMS, GATS and new EXIM policy.

(iv) New Exchange Rate Regime: Partial and full convertibility, Capital account convertibility. (v) New Economic Policy and Public Finance : Fiscal Responsibility Act, Twelfth Finance Commission and Fiscal Federalism and Fiscal Consolidation.

(vi) New Economic Policy and Monetary system. Role of RBI under the new regime.

(vii) Planning: From central Planning to indicative planning, Relation between planning and markets for growth and decentralized planning: 73rd and 74th Constitutional amendments.

 

New Economic Policy and Employment: Employment and poverty, Rural wages, Employment Generation, Poverty alleviation schemes, New Rural, Employment Guarantee Scheme

  • How can I obtain the detailed Indian Economic Service syllabus for UPSC IES exams?
    To access the detailed Indian Economic Service syllabus for UPSC IES exams, you can visit the official website of the Union Public Service Commission (UPSC) or refer to the official notification and examination brochure released for each year.
  • What subjects are included in the Indian Economic Service (IES) syllabus?
    The Indian Economic Service (IES) syllabus includes subjects such as General Studies, English, General Economics-I, General Economics-II, General Economics-III and Indian Economics.
  • Can I find previous years' question papers to understand the IES exam pattern better?
    Previous years' question papers for the IES exam can be found on the official UPSC website or through other reliable sources. They are helpful for understanding the exam pattern and practicing for the actual test.
  • What is the minimum age criteria for eligibility in the IES exam?
    The minimum age requirement for appearing in the IES (Indian Economic Services) exam conducted by the Union Public Service Commission (UPSC) is 21 years.
  • Is there any recommended study material for preparing for the Indian Economic Service exam?
    There is no specific recommended study material, but candidates often refer to standard economics textbooks, journals, and UPSC preparation guides. Additionally, staying updated with current economic affairs is crucial for the Indian Economic Service exam preparation.
  • Are there any specific academic qualifications required for the IES exam?
    Yes, there are specific academic qualifications required for the IES exam. A candidate must have a post-graduate degree in Economics/Applied Economics/Business Economics/Econometrics from a recognized university.
  • What is UGC NET Economics and why is coaching necessary?
    UGC NET Economics is a national-level eligibility test for candidates aspiring to become Assistant Professors or qualify for Junior Research Fellowship (JRF) in Economics. Coaching is beneficial as it provides structured guidance, comprehensive study materials, and regular practice tests to help candidates prepare effectively for the exam.
  • How can UGC NET Economics coaching enhance my preparation?
    UGC NET Economics coaching offers specialized guidance from experienced faculty who are well-versed with the exam pattern and syllabus. Coaching institutes provide targeted study materials, conduct regular mock tests, and offer personalized feedback to identify strengths and weaknesses, thereby maximizing your chances of success.
  • Are there any recent updates or changes in the UGC NET Economics syllabus that candidates should be aware of?
    The UGC NET Economics syllabus may undergo periodic updates. Aspiring candidates need to stay informed about any modifications or additions to the syllabus. This information is crucial for ensuring that their preparation aligns with the most current requirements of the examination.
  • What are the key topics covered in the UGC NET Economics syllabus?
    The UGC NET Economics syllabus encompasses a broad range of subjects, including microeconomics, macroeconomics, mathematical economics, econometrics, international economics, growth and development economics and specialized topics. Understanding the detailed list of subjects is crucial for comprehensive exam preparation.
  • What is the syllabus for the RBI Grade B DEPR exam?
    The RBI Grade B DEPR syllabus includes topics such as Macroeconomics, Microeconomics, Financial and Development Economics, Statistics, Econometrics, International Economics, and Monetary and Financial Systems. The detailed syllabus is provided by the Reserve Bank of India on their official website.
  • What is the selection process for RBI Grade B DEPR officers?
    The selection process for RBI Grade B DEPR officers involves a three-phase process - Phase-I examination (Objective Type), Phase-II examination (Descriptive and Objective Type), and an Interview. Candidates who qualify in all three phases are selected for the post of RBI Grade B DEPR officer.
  • What is the eligibility criteria for RBI Grade B DEPR exam?
    To be eligible for the RBI Grade B DEPR exam, a candidate must have a Master's degree in Economics or Finance with a minimum of 55% marks or an equivalent grade. Additionally, candidates with a Doctorate in Economics are also eligible with a minimum of 50% marks.
  • What is the RBI Grade B DEPR exam, and what does DEPR stand for?
    The RBI Grade B DEPR exam is conducted by the Reserve Bank of India to recruit officers in the Department of Economic and Policy Research (DEPR). DEPR stands for Department of Economic and Policy Research, which plays a crucial role in conducting economic research and providing policy inputs.
  • How should I prepare for the RBI Grade B DEPR exam?
    To prepare for the RBI Grade B DEPR exam, candidates should focus on a comprehensive study plan covering all the relevant topics mentioned in the syllabus. Additionally, staying updated with current economic developments, practicing with previous year question papers, and taking mock tests can enhance preparation.
  • How does coaching assist in covering the vast UPSC Economics Optional syllabus?
    Coaching institutes provide a systematic approach to cover the entire syllabus, including micro and macroeconomics, Indian economic development, and international economics. They offer well-structured classes, regular tests, and doubt-solving sessions, ensuring comprehensive coverage and better retention of concepts.
  • Can self-study be sufficient for UPSC Economics Optional, or is coaching necessary?
    While self-study is possible, coaching provides a structured learning environment, expert guidance, and a competitive edge. Coaching helps in time management, understanding complex topics, and ensures that you are well-prepared for the exam. It is recommended for candidates seeking a more efficient and targeted preparation.
  • Is the UPSC Economics Optional syllabus exhaustive, and what are the key topics to focus on?
    The syllabus is comprehensive, covering micro and macroeconomics, economic development in India, and international economics. Key topics include economic theories, statistical tools, economic planning, and current economic issues. Coaching institutes help candidates prioritize and focus on high-scoring areas, providing a strategic approach to syllabus coverage.
  • Why should I opt for Economics as an optional subject in UPSC, and how can coaching help?
    Economics is a scoring and analytical subject that complements various GS papers. Coaching provides structured guidance, comprehensive study material, and expert insights to enhance your understanding of economic concepts, ensuring better performance in the UPSC examination.
  • What should I consider when choosing a coaching institute for UPSC Economics Optional?
    Look for institutes with experienced faculty, a proven track record of successful candidates, updated study material, and a focus on both theoretical and applied aspects of Economics. Evaluate reviews and feedback from previous students to make an informed decision.
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