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Economics is everywhere, and understanding economics can help you make better decisions and lead a happier life.Tyler Cowen

A UPSC aspirant is often faced with the dilemma of choosing the right optional.

A right optional is the one which helps you to outperform in mains, the one that fetches you maximum marks, the one which comes to your rescue when you fail to score well in General Studies and last but not the least, the one which brings out the best in you.

Why to chose Economics as an Optional?

Economics can prove to be a smart choice as an optional subject considering a number of factors:

  • It overlaps with almost 50-60% of GS-3 Syllabus in the mains exam.
  • Easy to understand as it is logical and rational in nature.
  • It has also witnessed many successful candidates.
  • Study material is easily available.
  • Helpful in preliminary exam as around 15 to 20 questions from Indian Polity and governance section are asked every year for sure and they are covered in the Economics optional.
  • Again, in the UPSC- Civil Services interview, some questions are asked about economics irrespective of your academic background

WHO SHOULD CHOOSE Economics as an Optional Subject?

  • Interest: Interest in a particular subject should be given top priority while deciding on an optional subject. If you have interest in Economics, you can go for it.
  • Background: If you are from economics, commerce or management background you can opt for Economics.

IS Economics A SCORING SUBJECT?

Many candidates are opting for Economics as their optional on the basis of the success ratio that this subject has to offer. Many candidates have been able to score 300+ in Economics and many have managed to bag top ranks. However, UPSC does not discriminate between any of its optional subjects and one should consider his/her interest a top priority while choosing an optional.

Name of the candidate Year of passing Total marks (500) Paper I ECO (250 MARKS) Paper II ECO (250 MARKS)
YASH JALUKA (AIR-4) CSE- 2020 284 131 152
KUMAR ANURAG (AIR48) CSE- 2018 314 155 159
ABHIJEET SINHA (AIR19) CSE- 2017 288 140 1748
TEJASVI RANA (AIR12) CSE- 2016 325 173 152
GAURAV AGARWAL (AIR1) CSE- 2013 296 134 162

Optional subject marks play an important role in improving your UPSC-CSE all India ranking. Also, if you have not scored well in GS papers, and if you can score well in optional papers, you can still find your name in UPSC-CSE final list.

Economics Optional Coaching Fees:

Sr. Course & Features Fees
1. Online Video Lectures for Both Optional Papers 1 & 2 + Study Material in Soft Copy + Test Series Rs. 30,000/-
2. Online Video Lectures for Both Optional Papers 1 & 2 + Study Material in Soft Copy Rs. 20,000/-

WHY ONE SHOULD JOIN CHAHAL ACADEMY FOR ECONOMICS OPTIONAL?

  1. Detailed coverage of both Economics papers I & II for UPSC mains exam
  2. Current Affairs updated teaching for dynamic sections of Economics. 
  3. Explanation of the interlinks between Economics and GS papers  
  4. Availability of topic-wise module with coverage of each topic 
  5. Special lecture series on answer writing practice 
  6. Access to the best lecturers anytime and anywhere 
  7. 150+ hours of Offline/online lectures by Delhi based faculty members
REASONS TO JOIN ONLINE COACHING FOR Economics BY CHAHAL ACADEMY
Super Affordable fees:

Usually, the cost of Economics optional coaching fee is approx. Rs.50,000/- to Rs.75,000/- whereas online coaching costs very less.

Your time, Your Place:

While offline IAS coaching has a fixed time schedule, online coaching is flexible. Aspirants can save time from travelling between home, college and other places.

Rescheduling

One of the biggest advantages of online Economics coaching is that no lecture or topic will be missed as you can watch it anytime anywhere on your laptop or mobile.

Book your Free Class

Book your Free Class

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Economics OPTIONAL SUBJECT ONLINE COURSE BY CHAHAL ACADEMY

This course has been specially designed for those who are -


ANSWER WRITING IN Economics

PAPER – I Economics Optional Syllabus

Advanced Micro Economics


Advanced Macro Economics


Money – Banking and Finance


International Economics


Growth and Development


PAPER – II Economics Optional 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

  • The Pre Liberalization Era
  • Contribution of Vakil, Gadgil and V.K.R.V. Rao
  • Agriculture → Land Reforms and land tenure system, Green Revolution and capital formation in agriculture
  • Industry Trends in composition and growth, Role of public and private sector, Small scale and cottage industries
  • National and Per capita income → patterns, trends, aggregate and Sectoral composition and changes there in
  • Broad factors determining National Income and distribution, Measures of poverty, Trends in poverty and inequality
  • The Post Liberalization Era
  • New Economic Reform and Agriculture → Agriculture and WTO, Food processing, Subsidies, Agricultural prices and public distribution system, Impact of public expenditure on agricultural growth
  • New Economic Policy and Industry → Strategy of industrialization, Privatization, Disinvestments, Role of foreign direct investment and multinationals.
  • New Economic Policy and Trade → Intellectual property rights → Implications of TRIPS, TRIMS, GATS and new EXIM policy
  • New Exchange Rate Regime → Partial and full convertibility, Capital account convertibility
  • New Economic Policy and Public Finance → Fiscal Responsibility Act, Twelfth Finance Commission and Fiscal Federalism and Fiscal Consolidation
  • New Economic Policy and Monetary system
  • Role of RBI under the new regime
  • 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.

Booklist and Sources refer to:

Advanced Microeconomics:

  • Advanced microeconomics theory – Ahuja
  • Intermediate Micro Economics – Varian
  • Microeconomics – Robert Pindyck and Daniel Rubinfeld

Advanced Macroeconomics:

  • Modern Economics – H.L Ahuja
  • Macroeconomics – Richard Froyen
  • Macroeconomics – Gregory Mankiw
  • Macroeconomics reader – Snowdon and Vane

Money – Banking & Finance:

  • Modern Economics – H.L Ahuja
  • Money & Banking – N.K. Sinha
  • Public Finance in Theory and in Practice – Musgrave and Musgrave

International Economics:

  • International Economics – Dominick Salvatore

Economic Growth and Development:

  • Development Economics – Debraj Ray and Thirlwall
  • Economic Theory and Underdeveloped Regions – Myrdal

Indian Economy

  • Indian Economy Since Independence – Uma Kapila
  • Indian Economy – Performance and Policies – Uma Kapila
  • Indian Economy – Dutt and Sundaram
  • Hindu and EPW for a critical perspective
  • Economic Survey
  • India Year Book

FAQ Regarding Economics

1. Is Economics a good Optional for upsc?
Many candidates are opting for Economics as their optional on the basis of the success ratio that this subject has to offer. Many candidates have been able to score 300+ in Economics and many have managed to bag top ranks. However, UPSC does not discriminate between any of its optional subjects and one should consider his/her interest a top priority while choosing an optional.