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Hi Aspirants! Are you looking for how to prepare economics for UPSC? The majority of candidates preparing for the Civil Services Exam are focused on finishing their economy syllabus. The Indian Economy is one of the most challenging topics in the UPSC IAS Exam Syllabus when compared to other topics. The Indian economy is covered in the General Studies III section of the UPSC CSE Mains exam. Additionally, it is offered as an optional in the UPSC mains exam phase.
GS Economy is more complex than other subjects, hence covering the economics syllabus is difficult for many applicants. Candidates should concentrate on current economic trends, developments, terminology, important factual data, and national policies to prepare for the Economics exam. This article will explain “How to prepare economics for UPSC?” and provide a thorough preparation plan for the Economics mains and preliminary exams. Now let’s get started!
Table of Contents
How To Prepare Economics For UPSC?
The UPSC exam places a great deal of importance on the Economics subject. Confusion about ideas, theories, and queries always acts as a constant barrier to the preparation of economics-related issues. The economics of any nation forms the basis for its expansion and advancement. As a prospective bureaucrat, you should be well-versed in the workings of the Indian economy. When preparing for the UPSC exams in Economics, keep the following principles in mind:
| How To Prepare Economics For UPSC? | Prelims | Mains |
| Recognize Syllabus | Familiarize yourself with the UPSC Economics Prelims syllabus. | Understand the UPSC Economics Mains syllabus thoroughly. |
| Select Important Topics | Shortlist important topics from the syllabus such as fiscal policy, social issues, demographics, etc. | Focus on subjects like economic development, inclusive growth, budgeting, agriculture, infrastructure, etc. |
| Limit Resources | Start with NCERT textbooks for the theoretical foundation. Then move on to Ramesh Singh’s Indian Economy. | Read essential texts like Shankar Ganesh’s Indian Economy Key Concepts and Ramesh Singh’s Indian Economy. |
| Emphasize Value Addition | Study Union Budget, Economic Survey, and relevant reports to stay updated with current developments. | Understand the application of economic concepts in real-world scenarios. |
| Follow Current Events | Keep up with government initiatives, economic activities, and current issues related to economics. | Stay updated with economic developments through newspapers, magazines, and online resources. |
| Practice Previous Year Questions | Solve UPSC Prelims questions from previous years to understand exam patterns and types of questions. | Practice answer writing for Mains with a focus on the application of economic concepts. |
| Review Fundamentals | Regularly review basic concepts to ensure retention and understanding. | Prioritize revision of the entire UPSC Economics syllabus to stay updated and reinforce learning. |
Must Read: How to Prepare for UPSC 2024 at Home?
Important Topics To Prepare Economics For UPSC
Learning the UPSC Syllabus is the first and most important stage in preparing for the UPSC Economics exam. For the Prelims and Mains, different approaches are needed according to the Indian economy. The General Studies Paper in Prelims covers the Indian economy, focusing especially on newly created schemes and budget allocation. Planning, resource mobilization, growth, development, employment, government budgeting, cropping patterns, public distribution system, technology missions, food processing, land reforms, liberalization, infrastructure, and investment models are just a few of the aspects of the Indian economy that are specifically mentioned in the UPSC Mains syllabus.
Study Material To Prepare UPSC Economics Subject
The following lists the materials and reading list for the economics course. You don’t need to read all of these books, though. Select the ones with which you are most at ease. View the following list of essential books for UPSC Economics Preparation:
| Title | Author(s) | Direct Link to Buy |
| Indian Economy | Ramesh Singh | Buy Now |
| The Indian Economy | Sanjiv Verma | Buy Now |
| Indian Economy | Mishra and Puri | Buy Now |
| Indian Economy | R. Dutt and KPM Sundaram | Buy Now |
| Banking | S.B. Gupta | Buy Now |
| Dictionary of Economics | Graham Bannock; T.E. Baxter, Ray Rees | Buy Now |
| Economic Growth and Development | Mayer and Baldwin | Buy Now |
| Economic Survey: Twelve Five Year Plan: New Industrial Policy | Government of India | Buy Now |
Tips and Tricks to Prepare Economics for UPSC
The UPSC Mains question papers are long, thus you have to write fast to finish the paper correctly. The secret to answering these questions is to write accurately and swiftly in practice. Here we have mentioned certain important aspects regarding economics preparation for UPSC:
| Aspect | How to Prepare Economics for UPSC? |
| Sources | Utilize NCERT Books for UPSC, Economics Books for UPSC, Newspapers, Economic Surveys, Budgets, etc. Stay updated with current events through UPSC periodicals and magazines. |
| Preparation Approach | Take clear and concise notes. Employ mnemonic devices for better retention. Categorize notes based on subjects/topics. |
| Most Important Topics to Focus On | Understand concepts like LPG, GST, Money Supply, Tax Structure, Niti Aayog, Human Growth, Inflation, GDP, and Banking. |
| Answer Writing Tips | Take clear and concise notes. Employ mnemonic devices for better retention. Categorize notes based on subjects/topics. |
Must Read: How to Make Notes for UPSC From Newspaper?
Economics Questions Trend Analysis
To comprehend the Economics material covered in the UPSC Prelims and Mains exams, trends are more important. Examine the subjects and patterns related to the Economy that are asked in UPSC exams so that candidates can prepare appropriately.
| Exam | Type of Exam | Average No. of Questions | Important Topics | Preparation Strategy |
| UPSC Prelims | Objective | 16 | National Income Accounting, Inflation/Deflation, Monetary Policy, Fiscal Policy, Taxes, CAD, Fiscal Deficit, BOP | Focus on basic comprehension; Understand fundamental economics concepts |
| UPSC Mains | Descriptive | 4-5 | Demographic Dividend, Inclusive Growth, Make in India, Poverty Alleviation | Study economic survey and related government initiatives; Understand contemporary economic issues |
It takes a lot of work to pass the UPSC Civil Service Main Examination; just 15% of applicants are successful each year.UPSC exam requires a sufficient understanding of the main subjects to correctly respond to an economic question. Different approaches are needed for preliminary and main exams in the Indian economy subject. If we analyze the questions from the Indian Economy section for the Prelims and Mains, the format and nature of the questions will become clearer. You need to understand economics and the Indian economy conceptually to be able to respond to most of the questions. Hence we advise you to prepare this subject comprehensively.
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FAQs
One must start economic preparation for UPSC with foundational study materials like NCERTs and then move forward toward reference books like Ramesh Singh.
Economics is regarded as a rational and logical subject, very scoring, and covers nearly 60% of the UPSC syllabus for GS paper III.So economics is easy for those students who have an interest in knowing issues related to the Indian economy.
First, select the best Resources. Before you start your economics preparation, you should gather the resources that you will be using to practice.
This was all about the “How to Prepare for Economics UPSC?”. For more such informative blogs, check out our UPSC Exams Section, or you can learn more about us by visiting our Indian exams page.