If you are preparing for the UPSC civil services exam, you would be aware that economics is one of the most important subjects of the UPSC syllabus – both the IAS prelims and the mains. It is also available as an optional subject in the UPSC mains examinations. For many UPSC aspirants, economics is a subject that they despise. However, It is critical to grasp fundamental economics since economics is required to comprehend how a country operates. It also explains why some countries are developed while others are developing. It also improves your understanding of banking, industry, services, agriculture, and other fields. These concepts are generally asked in the UPSC Prelims.
It is often challenging for aspirants to find the right sources for Economics preparation. Although it is a dynamic topic that must be supplemented with current affairs, there are some fundamental concepts that may be clarified by reading the NCERTs. In this article, we will go over the key chapters of Economics from the NCERTs. If you don’t want to read all of the NCERTs from cover to cover, you may just skim over these sections to have a good understanding of the ideas.
Click here to know more about How to Read NCERTs.
Important topics for Economics- UPSC Exam
Not just to qualify the exam but also to be a good IAS officer, you must remain informed on the country’s economic trends and policies, which is only achievable if you have a solid foundation in this subject. The economics questions in the IAS Prelims are more current affairs-oriented, making it harder to locate a good reference book or a set syllabus to follow. However, the following themes are critical for gaining a firm grasp of the subject:
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- Fiscal policy- Definition, Various characteristics, Components, receipts, revenue and capital account, Tax revenue, Expenditures, Influence on budget.
- Poverty– Definition, Causes, Concept of distribution and deprivation, Concept of income and calories, Status and measurements of poverty, Initiatives in social sectors, Demographics of the country Different types of poverty eradication programs, and resource policies, Tribal rights
- Inclusion– Types of inclusion, Recent initiatives related to inclusion, Relevance, Financial inclusion
- Sustainable development
- Economic and social development
- Finance, banking, budget, population composition, health and sanitation, international financial situations.
- Economic growth and development- Basic concepts of economics and definition of economy, Transfer and uses of resources, Macro and microeconomic policies, The balance between micro and macroeconomics, Impact of economic policies on the distribution of wealth, What are the determinants of growth and development of the country from an economic point of view, Concepts of MPI/HPI, HDI, PQLI, GDI/GII, GEM, TAI, Green index, India’s position in various economic indices
Note– Read about the Importance of NCERTs by visiting the given link.
Important Chapters of Economics NCERTs for UPSC
The first and most important step is to identify books that cover all of these topics in depth while still being easy to read. Begin your studies with the fundamentals from the NCERT books. Economics for class IX is a good way to get started because it covers all of the fundamental concepts required for the UPSC Prelims. What you should pay special attention to when reading these books is as follows:
| Class | NCERT | Total Chapters | Important Chapters |
| 9th | Economics | Ch-1 The Story of Village Palampur
Ch-2 People as Resource Ch-3 Poverty as a Challenge Ch-4 Food Security in India |
This book aids in the study of the Indian Economy and problems related to resource planning, growth, development, employment and mobilisation. The important chapters are-
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| 10th | Understanding Economic Development | Ch-1 Development
Ch-2 Sectors of The Indian Economy Ch-3 Money and Credit Ch-4 Globalisation and the Indian Economy Ch-5 Consumer Rights |
This book covers the Indian Economy including themes such as planning, resource mobilisation, and growth. Important chapters are-
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| 11th | Indian Economic Development | Unit I- Development Policies and Experience (1947-1990)
Ch-1 Indian Economy on the Eve of Independence Ch-2 Indian Economy 1950-1990
Unit II- Economic Reforms Since 1991 Ch-3 Liberalisation, Privatisation And Globalisation: An Appraisal
Unit III- Current Challenges Facing the Indian Economy Ch-4 Poverty Ch-5 Human Capital Formation in India Ch-6 Rural Development Ch-7 Employment: Growth, Informalisation And Other Issues Ch-8 Infrastructure Ch-9 Environment and Sustainable Development
Unit IV Development Experiences Of India: A Comparison with Neighbours Ch-10 Comparative Development Experiences of India and Its Neighbours |
The entire book is devoted to Indian economic growth and the various concepts, aspects, and ideas that go along with it. Important chapters are-
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| 12th | Introductory Microeconomics | Ch-1 Introduction
Ch-2 Theory of Consumer Behaviour
Ch-3 Production and Costs
Ch-4 The Theory of Firm Under Perfect Competition
Ch-5 Market Equilibrium
Ch-6 Non-Competitive Markets |
The textbook gives you an idea about microeconomics. You don’t need to study the whole book cover to cover . Just focus on the following chapters-
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| 12th | Introductory Macroeconomics | Ch-1 Introduction
Ch-2 National Income Accounting
Ch-3 Money and Banking
Ch-4 Determination of Income and Employment
Ch-5 Government Budget and Economy
Ch-6 Open Economy Macroeconomics |
Government Budgeting is covered in this book. It is simply understanding what a budget is, how it is voted in parliament, and then how it is implemented. Important topics from the chapters are-
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This blog covers all of the important Economics topics for the Civil Services Exam that needs to be done. Candidates should utilise this information in combination with the Economics Notes for UPSC Examination to complete their preparation.
Download the compilation of previous year UPSC Indian Economy Questions of IAS Prelims in the linked article.
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