UPSC ECONOMICS OPTIONAL SUBJECT

Economics is one of the optional subjects offered by the UPSC in the civil services mains exam. Though not as popular as some other subjects like Public Administration or Geography, Economics has a good success rate among candidates. There have been toppers with this optional also. For instance, in Civil Service Exam 2013 the first rank holder, Gaurav Agrawal had economics as his optional. This article discusses all the aspects you want to know about economics optional for IAS mains exam, Economics is an important part of the UPSC GS papers syllabus as well.

1. Advanced Economic Theory by HL Ahuja
2. Microeconomic Analysis by Hal Varian
3. On Economic Inequality by Amartya Sen
4. Macroeconomics by Gregory Mankiw
5. A good Macroeconomics reader by Snowdon and Vane
6. Modern Economics by HL Ahuja
7. Money and Banking by NK Sinha
8. Macroeconomics by Richard Froyen
9. Public Finance in Theory and Practice by Musgrave and Musgrave
10. International Economics by Dominick Salvatore
11. Advanced Macroeconomics by David Romer
12. Development Economics by Ray and Thirlwall
13. Economic Theory and Underdeveloped Regions by Myrdal

Booklist for Paper II

1. Indian Economy by Uma Kapila
2. Indian Economy by Dutt and Sundaram
3. Indian Economy by Misra and Puri

Clich here for - Economics Optional Syllabus

Economics Optional Pros

• Overlap with General Studies: Economics has a good overlap with the IAS syllabus of GS Paper III. The overlap is significant because the optional can cover close to 60% of the GS III syllabus. That makes it at least 30 marks of the GS mains paper.
• No need of background: Economics can be studied by anyone with an interest in the subject. You don’t need an educational background in it. It can be understood by anyone. It is also recommended for candidates with a science or technical background as even though considered a social science, economics is quite logical and rational.
• Economics syllabus: The IAS syllabus for this optional is very clear-cut and specific.
• Scoring: Many toppers are of the opinion that conceptual clarity with good answer writing skills can fetch marks in this subject. Additionally, the subject requires the use of graphs and diagrams. These can also fetch good marks if done in a relevant and correct method.
• Study material: There is plenty of material available for economics optional.

Economics Optional Cons

• Technical subject: Being a technical subject, you need to write precise and accurate answers which are backed with facts and numbers. You cannot beat about the bush here. As mentioned before, conceptual clarity brings in marks. The lack of it can prove costly. Also, if you are not comfortable with graphs and huge figures, you might want to stay away from economics
• Genuine interest: Although true for all subjects, you need to have a real interest in this subject if you are to even understand it. If not, it is better to take another less technical optional.