Prelims Economy Syllabus for UPSC Exam 2024

PWOnlyIAS April 13, 2024 06:19 4205 0

Master the UPSC Prelims Economy Syllabus with comprehensive details, booklist, strategy, and FAQs. Score high by understanding the economy inside out.

Prelims Economy Syllabus for UPSC Exam 2024

Understanding the Prelims Economy Syllabus for UPSC is important to score good marks in the Prelims exam. A comprehensive detail of the Prelims Economy syllabus is provided here. Let’s read the article for more details!

UPSC Prelims Syllabus: An Overview

The Union Public Service Commission Preliminary Examination, or UPSC Prelims, is the first stage of the Civil Services Examination conducted by the UPSC.  The Prelims consist of two papers: General Studies Paper-I and General Studies Paper-II (CSAT), both of which are objective-type multiple-choice exams.  

The detailed UPSC Prelims Syllabus can be found in the table below:

General Studies Paper I General Studies Paper II (CSAT)
  • Current events of national and international importance. 
  • History of India and Indian National Movement.
  • Indian and World Geography-Physical, Social, Economic Geography of India and the World. 
  • Indian Economy and Governance-Constitution, Political System, Panchayati Raj, Public Policy, Rights Issues, etc.
  • Economic and Social Development-Sustainable Development, Poverty, Inclusion, Demographics, Social Sector Initiatives, etc. 
  • General issues on Environmental ecology, Biodiversity and Climate Change – that do not require subject specialization. 
  • General Science.
  • Comprehension; 
  • Interpersonal skills including communication skills; 
  • Logical reasoning and analytical ability; 
  • Decision making and problem solving; 
  • General mental ability; 
  • Basic numeracy (numbers and their relations, orders of magnitude, etc.) (Class X level), Data interpretation (charts, graphs, tables, data sufficiency etc. — Class X level).

 

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UPSC Prelims Exam Pattern

Type General Studies Paper 1  GS Paper II- (CSAT)
Questions 100 Objective Type 80 Objective Type
Marks 200 Marks 200 Marks
Negative Marking +2 Marks/Question and -0.66 Negative Marks/Question +2.5 Marks/Question /Question and -0.83 Negative Marks/Question
Duration of Exam 2 Hours 2 Hours
Qualifying Marks Cut-off List Minimum 33%
Languages English and Hindi English and Hindi.


Important Note:
It is mandatory for the candidate to appear in both papers for the purpose of evaluation. The candidate will be disqualified if he/she does not appear in both papers of the preliminary examination. 

UPSC Prelims Economy Syllabus Complete Details

The UPSC Prelims Economy syllabus expects a candidate to know basics about the Indian and world economy, development, planning, trade trends, reforms and many more. Candidates must also study trade institutions across the country. The complete detail of UPSC prelims Economy syllabus are as follows:

Economy Syllabus for Prelims in Detail

Topics Subtopics
Basic Concepts
  • Macroeconomics And Microeconomics
  • Measuring Economic Growth
  • Sectors of Economy
  • Factors Affecting Growth
  • Different Economic Model Such As Capitalist, Socialist, Mixed Etc.
Economic Measurement
  • GDP And GNP
  • Gross And Net GDP
  • GDP Deflator
  • Calculating National Income
  • Alternatives To GDP
  • Happiness Index
  • Purchasing Power Parity
  • Recession
  • Developing Country Status
Human Development
  • Human Development index and Other Development Index
  • Human Capital
  • Sustainable Development and SDG’s
  • Inclusive Growth
  • Approaches to Human Development
  • Measuring Human Development (HDI)
  • Economic Growth vs Economic Development
Planning In India
  • History of Economic Planning
  • Five Year Plans
  • Achievements of Planning
  • Niti Aayog
  • Major Noteworthy FYPs Such As 2nd FYP, 4th FYP, 9th FYP, Etc.
Monetary And Credit Policy
  • Monetary Policy
  • Important Concepts Such As Repo, Reverse Repo, CRR, SLR, Etc
  • Open Market Operations
  • Interest Rates
  • Inflation Targeting
  • Liquidity Trap
  • Quantitative Easing
  • Demonetisation
  • Reserve Bank of India, It’s Role And Function.
Fiscal System
  • Fiscal Policy
  • Types of Deficits
  • Twin Deficit
  • Deficit Financing
  • Ways And Means Advances
  • FRBM Act And Amendment To FRBM.
  • Committees On Fiscal Reforms
  • Debts And Debt Financing
  • Important Terms Such As Fiscal Drag, Crowding Out Etc.
Inflation
  • Definition
  • Types of Inflation
  • Inflation Concepts Such As Headline Inflation, Core Inflation, Etc
  • CPI, WPI, IIP, PPI, Etc
  • Deflation
  • Inflation Targeting
  • Inflation And Unemployment.
  • Different Curves On Inflation.
  • Monetary Policy Committee.
  • Status of Inflation In India.
Money Market And Capital Market
  • Government Bonds
  • Bond Yields
  • Treasury Bills
  • G-Secs
  • Cash Management Bills
  • Money Market Reforms
  • Mutual Funds
  • Chit Funds
  • Hedge Funds
  • Venture Capital Funds
  • Credit Swap
  • Nbfc
  • Masala Bonds
  • Role of RBI In Money Market And Capital Market.
Taxation
  • Types of Taxes In India
  • Trends In Taxation
  • Gst And Associated Topics
  • Money Laundering
  • Tax Havens
  • Double Taxation Agreements
  • Tax Amnesty
  • Some Important Terms Related To Taxation Such As Tax Elasticity, Tax Buoyancy, Tax To Gdp Ratio, Etc.
  • Recent Budget On Taxes.
Stock Market
  • Working of Stock Market
  • BSE, NSE, Sensex, Nifty Tec
  • SEBI, NSDL Etc
  • Stock Market Reforms
  • FDI And FPI
  • Equity, Shares, Bonds Etc
  • Trends In Stock Market
  • Insider Trading
  • Short Selling
  • Ipo, Buyback, Secondary offering Etc.
  • Credit Rating Agencies
Banking In India
  • Role And Function of RBI
  • Domestic And International Banks
  • Private And Public Sector Banks
  • Committees On Banking Reforms
  • Non-Performing Assets
  • Sarfaesi Act
  • Bad Banks And NARCL
  • Basel Norms
  • Insolvency And Bankruptcy Code
  • Small Payments Bank
  • Mudra Bank
  • Nabard
  • National Housing Bank
  • Sidbi
  • Banking Reforms
  • Various Banking Terminologies In Use.
Public Debt
  • Types of Public Debt
  • Internal and External Debt and Public Finance
  • Public Debt Management 
  • Impact of Public Debt
  • Methods of Debt Financing
Balance of Payment
  • Capital Account
  • Current Account
  • Remittances
  • Bop Crisis
  • Forex
  • Appreciation And Depreciation of Rupee
  • Rupee Control Mechanism
  • Dollarization
  • Internationalisation of Rupee
  • Vostro And Nostro Accounts
  • Currency Convertibility
  • Currency Liberalization
Poverty
  • Types of Poverty
  • Headcount Ratio
  • Headcount Ratio
  • Committees To Identify Poverty Line
  • Universal Basic Income
  • Schemes For Poverty Eradication
  • Recent Status of Poverty In India.
  • Multidimensional Poverty Index.
  • Niti Ayog And Poverty Estimation.
Inequality
  • Measures of Inequality
  • Inclusive Growth
  • Causes of Inequality In India.
  • Reports And Indices
Infrastructure
  • Infrastructure In India
  • Types of Infrastructure.
  • Role of Infrastructure In Economic Growth
  • Public Private Partnerships
  • Committees On Infrastructure Reforms
  • Hybrid Annuity Model (HAM)
  • Viability Gap Funding (VGF)
  • Swiss Challenge
  • Plug And Play Model
  • Infrastructure Investment Trusts, REIT’s
  • Special Economic Zones
  • Sagar Mala And Bharat Mala
  • Green Bonds And Social Impact Bonds 
  • Inland Waterways
  • Industrial Policy
WTO And GATT
  • Origin of WTO
  • Role of WTO
  • Types of WTO Subsidies, Such As Blue Box, Amber Boxes, Etc. Target of WTO
  • MFN Status
  • TRIPS And Patents
  • WTO Negotiations
  • Anti-Dumping Duties, Countervailing Duties And Compulsory Licensing
  • Recent Meetings And Agenda.
  • Famous Meetings of WTO, Such As Doha.
  • Agreement On Agriculture.
  • Initiatives Taken By India, Dispute Involving India Etc.
IMF
  • Origin
  • Objectives And Functions
  • Members
  • IMF Quota, Reforms And Lending
  • SDR’s
  • India’s Participation In IMF
World Bank Group
  • Origin And Structure
  • World Bank Institutions
  • G 20
  • G7
  • Asian Development Bank
  • AIIB
  • New Development Bank
  • Reforms In World Bank
  • Initiatives Taken By India
Public Sector In India
  • Role of PSUs
  • Classification of PSUs
  • Disinvestments In PSU (Types, Methods, Process)
  • Psu Reforms
  • Restructuring of Psus
  • Disinvestment Vs Privatization
  • Mahartna, Navratna And Miniratna.
LPG Reforms
  • Liberalisation
  • Privatisation
  • Globalisation
  • Major Structural Reforms
  • Stabilsation Majors.
  • Classification of Reforms in India.
  • Post Reform Changes in Indian Economy.
Agriculture 
  • Cropping System
  • Cropping Seasons
  • Land Reforms
  • Green Revolution
  • MSP
  • Agricultural Subsidies
  • Agricultural Marketing
  • National Food Security
  • Agricultural Scheme
  • Agricultural Reforms

UPSC Prelims Economy Syllabus Booklist

Candidates preparing for prelims have to choose books that completely cover the UPSC prelims Economy syllabus. The complete booklist for the economy syllabus is given below:

Book Type Book Name
NCERT 
  • India’s Economic Development (Class XI)
  • Introductory Macroeconomics (Class XII)
Reference Books
  • Indian Economy by Ramesh Singh
  • Economic Development & Policies in India by Jain & Ohri
  • Indian Economy by Nitin Singhania
Other Sources (Current Affairs)
  • Newspapers such as The Hindu and The Indian Express
  • Press Information Bureau
  • Economic Survey
  • Budget Document
  • International Reports
  • RBI Website for Banking Concepts & latest Monetary Policy

UPSC Prelims Economy Syllabus Marks Weightage

On analysis of past question papers, it is clear that UPSC Prelims Economy syllabus has a good amount of weightage. The questions are both factual as well as conceptual. The detailed weightage of economy questions is given below:

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Year of Preliminary Examination Number of Economy Questions
2023 14
2022 18
2021 10
2020 15
2019 14
2018 18
2017 16
2016 24
2015 21
2014 10


The UPSC Prelims Economy Syllabus
can be covered easily if a candidate has a plan in place. With a structured plan and guidance from a mentor, candidates can grasp both basic and advanced concepts of the UPSC Prelims Economy syllabus effectively. Solve effectively previous year questions (PYQs) and economics test series. This understanding enables them to apply their knowledge during the examination and 

Must Read
NCERT Notes For UPSC UPSC Daily Current Affairs
UPSC Blogs UPSC Daily Editorials
Daily Current Affairs Quiz Daily Main Answer Writing
UPSC Mains Previous Year Papers UPSC Test Series 2024

 

Frequently Asked Questions

NCERT explains the topics in a simple and lucid way, making it appropriate for beginners. It forms the foundation for future learning.

On an average, the economy subject carries a weightage of 12-15% for UPSC prelims. This translates to about 15 questions on an average.

A candidate from a science background must familiarise himself with the basic economic terms and concepts. For that, he/she has to read NCERT books.

Yes. Apart from the static syllabus, questions can be asked about current affairs topics related to the economy.

It is advisable to revise the economy syllabus as many times as possible before the exams. A minimum of three revisions have to be done.

Yes. The budget and economic survey form the dynamic part of the UPSC economy for prelims, and questions are asked from these documents.
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AVAILABLE FOR DOWNLOAD SOON
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध
Quick Revise Now !
UDAAN PRELIMS WALLAH
Comprehensive coverage with a concise format
Integration of PYQ within the booklet
Designed as per recent trends of Prelims questions
हिंदी में भी उपलब्ध

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