Approach: Microeconomics

Only do selective study from NCERT Class 11 Microeconomics, as following.

1. Elasticity of demands (ch2) + Giffen goods (internet)
2. Law of diminishing marginal product (ch 3.4)
3. Perfect competition (ch4.1): only features.
4. Non-competitive markets: (ch.6)
a. features given @intro
b. Monopolistic competition (ch.6.2.1)
c. Oligopolistic competition (ch 6.2.2)
5. Price ceiling and Price floors (ch5.2): only basic definition
6. Glossary: only MCQ worthy definitions.

Approach: Macroeconomics + Indian Economy

GDP GNP Growth Basics
NCERT Class 12 Macroeconomics
Ch. 2 National Income Accounting

Circular flow of income.

How to calculate national

income (ignore minute
details/fomulas)

After NCERT

Ramesh: Ch1. subtopic ideas of national income

GDP, GNP, NNP, deflator and

their formulas.

Ch2 GDP vs Welfare topic (given at

the end of this chapter)

1. RAMESH: Ch 2 growth and development.

2. Human Development index: Theory + current
(Mrunal under Economic Survey ch. 13

summary) + Schemes.
3. Then newspaper + Yojana/Kuru +Magazines
=>pib.nic.in
Money Banking Finance.
NCERT Class 12
Macroeconomics

After NCERT
Ramesh

12 Banking

11. Financial market => 14 Securities Market (Stock

exchange, FII, QFI etc.)

13 Insurance

Current:
Ch. 3 Money & Banking:
Supply of money, Functions
of RBI

Economic Survey ch5 (FI)

Legal angle: CSR, company law, SEBI powers

Committees: Mayaram FDI-FII, Bimal Bank License,

Nachiket Fin. Services, PJ Nayak Governance in Bank
boards. list goes on.

Scam like: Bitcoin, Ponzi Scheme, NSEL, SEBISAHARA, Money laundering

Growth/Inclusion Angle

Foreign Investment/ Foreign Trade

NCERT Class 12 Macroeconomics
NCERT 12/macro/ch.6

Balance of Payment, Foreign

Exchange

Gold standard, Bretton woods.

ignore Formulas and Charts. only

After NCERT
Ramesh

Ch15: External Sector

Ch16: IMF, World banks, OECD, ADB

and other intl.org (even for Mains)

Current (focus on these news)

1. CAD high, Rupee weak (Govt+RBI)
2. Bilateral investment

one formula important: National

income: Y=C+I+G+X-M

1. India 2015 Ch. on Commerce.

(for Mains.)

+prepare all the terms in Glossary.

2. Visits and agreements. (make

notes)
3. WTO: current (Bali summit, agro
subsidy)
4. Infra, Food processing related (GSM3)

Taxation/ Fiscal policy

NCERT Class 12 Macroeconomics
Chapter 5

Revenue and

Measures of deficit

Changes in Expenditure : ignore graph and formulas

Debt, deficit

capital account

After NCERT

Laxmiankths book on Indian Polity. also available in Hindi

Ch. on parliament=>budget making, chapters on Central state relations, federalism and CAG.
Ramesh Singh :

Ch. 18 Public finance.

Ch.17 Taxation

Lastly, GSM (MCQ)

(optional) Laxmikanths book on Pub.Ad:

Chapter on Financial Administration,

Union Government in India (PSU)

Approach: Indian Economy (for UPSC)

For Indian Economy- the approach must be prelim cum mains. (Prelim-oriented jugaad
preparation doesnt work anymore- because UPSC professors designing tough MCQs to
break the backs of coaching classes and senior players.) Anyways you should approach the
basic of Indian Economy following sequence:

#1: Background + British Raj/Pre-independence

NCERT 12: Fundamental of Human Geo.
1. Unit III (ch.5 to 9): sectors of economy
Colonialism, Imperialism, industrial revo.
1. NCERT (old) class 10, first chapter (Mrunal.org/history)
2. Bipin Chandra (Ch7) Economic Critique
3. NCERT class11 (economy) Chapter 1

#2: Agriculture/land reforms

NCERT (economy) class11 Chapter #2:
1. Planning topic ==>Ramesh 4 and 5
2. Land reforms topic => India Yearbook for schemes (rural development).
a. To prepare land reforms for Mains, go through
i.

Mrunal.org/polity

ii.

Bipin Chandra: India Since Independence (ch.29 to 31)

3. Green revolution
a. NCERT geography books for more on Indian agriculture, cropping patterns,
soil types.
b. India Yearbook 2014: MSP, NAFED etc from agriculture chapter
c. Ramesh Singh Ch.8.

d. Mains: Food processing- Ive written whole article series [Food processing],
links given above.
e. Mains: Bipin Chandra: India Since Independencech33
+ Maintain notes from Yojana, newspapers, PIB etc. for issues related to land reforms,
subsidies, rural development and planning.
3: Rural development

NCERT class11: Ch.6 Rural development

o

Rural banking=>RRB, financial inclusion (Mrunals articles)

Agri.marketing=> Food processing (Mains) (Mrunals articles)

Organic farming & its benefits.

Eco.Survey ch8 (agri. Food Management)

IYB chapter (Agri, rural urban Development)

#4: Industrial development

NCERT (economy) class11

o

Chapter 2: Industrial policy resolution, Import substitution,

Permission raj

Chapter 3: LPG

Ramesh Singh
o

Ch.6 (Economic Reforms)

Ch7 Inflation. (+newspaper)

ch9 (Indian industry and infra.) licensing, policy, disinvestment

Budget + Economic survey + IYB

Mains: Bipin PI Ch.25-28

#5: Infrastructure
1. NCERT class11: Ch.7 infrastructure
a. Energy=> renewable/non sources (GSM1); infra. (GSM3). For
geography angle, refer to Majid Hussian or DR Khullar.

b. Health infra.=> MDG, Public health, Schemes (GSM2 social sector

schemes)- given on Mrunal.org/snt
2. Ramesh Ch 9 and ch.22
3. Economic Survey ch. 9, 10 and 11

For Mains: 12th FYP plans points/recommendations for infrastructure.

#6: Poverty, Human resources

NCERT class11:
a. Ch4 Poverty: poverty line, Causes of poverty
b. Ch5 human capital formation
c. Ch7 Employment

Prelim cum mains (GS1 and GS3)

a. Ramesh: ch.21 Demographic dividend, Ch. 22 human development
b. Eco. Survey ch.2 and ch.13
c. Census 2011, skill Development (Yoj/Kur/12th FYP/Schemes)

#7: Sustainable development / Desi liquor

1. NCERT class11: 9
a. Carrying capacity, ozone depletion etc. basic
b. for biodiversity /environment angle: additionally prepare NCERT
sci/geography, NIOS
2. Ramesh Ch.20
3. RIO+20 (Mrunal.org/enb) This summit is old topic but gives decent fodder
points for essay/interview.
4. Economic Survey ch. 12

Once this is done, you may go through remaining chapters of NCERT/Ramesh as per your
time/mood.

#3: Rural development

NCERT class11: Ch.6 Rural development

o Rural banking=>RRB, financial inclusion (Mrunals articles)

o Agri.marketing=> Food processing (Mains) (Mrunals articles)
o Organic farming & its benefits.

Eco.Survey ch8 (agri. Food Management)

IYB chapter (Agri, rural urban Development)

#4: Industrial development

NCERT (economy) class11

o Chapter 2: Industrial policy resolution, Import substitution, Permission raj
o Chapter 3: LPG

Ramesh Singh
o Ch.6 (Economic Reforms)
o Ch7 Inflation. (+newspaper)
o ch9 (Indian industry and infra.) licensing, policy, disinvestment

Budget + Economic survey + IYB

Mains: Bipin PI Ch.25-28

#5: Infrastructure
1. NCERT class11: Ch.7 infrastructure
a. Energy=> renewable/non sources (GSM1); infra. (GSM3). For geography
angle, refer to Majid Hussian or DR Khullar.
b. Health infra.=> MDG, Public health, Schemes (GSM2 social sector schemes)given on Mrunal.org/snt
2. Ramesh Ch 9 and ch.22
3. Economic Survey ch. 9, 10 and 11
For Mains: 12th FYP plans points/recommendations for infrastructure.

#6: Poverty, Human resources

NCERT class11:
a. Ch4 Poverty: poverty line, Causes of poverty
b. Ch5 human capital formation
c. Ch7 Employment

Prelim cum mains (GS1 and GS3)

a. Ramesh: ch.21 Demographic dividend, Ch. 22 human development
b. Eco. Survey ch.2 and ch.13
c. Census 2011, skill Development (Yoj/Kur/12th FYP/Schemes)

#6: Sustainable development / Desi liquor

1. NCERT class11: 9
a. Carrying capacity, ozone depletion etc. basic
b. for biodiversity /environment angle: additionally prepare NCERT
sci/geography, NIOS
2. Ramesh Ch.20
3. RIO+20 (Mrunal.org/enb) This summit is old topic but gives decent fodder points for
essay/interview.
4. Economic Survey ch. 12
Once this is done, you may go through remaining chapters of NCERT/Ramesh as per your
time/mood.