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ECONOMICS 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)

(1) features given @intro(2) Monopolistic competition (ch.6.2.1)(3)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 After NCERT

Ch. 2 National Income Accounting Circular flow of income.How to calculate national income (ignore minutedetails/fomulas)GDP, GNP, NNP, deflator and their formulas.

Ramesh: Ch1. subtopic ideas of nationalincome

Ch2 GDP vs Welfare topic (given at the endof this chapter)

RAMESH: Ch 2 growth and development.Human Development index: Theory + current(Mrunal under Economic Survey ch. 13summary) + Schemes.Then newspaper + Yojana/Kuru +Magazines=>pib.nic.in

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Money Banking Finance:NCERT Class 12 Macroeconomics After NCERT

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

Ramesh

12 Banking

11. Financial market => 14 Securities

Market (Stock exchange, FII, QFI etc.)

13 Insurance

Current:

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, SEBI-SAHARA, Money

laundering

Growth/Inclusion Angle

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Foreign Investment/ Foreign Trade

NCERT Class 12 Macroeconomics After NCERT

NCERT 12/macro/ch.6

Balance of Payment, Foreign Exchange

Gold standard, Bretton woods.

ignore Formulas and Charts. only one

formula important: National income:

Y=C+I+G+X-M

+prepare all the terms in Glossary.

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

1. India 2015 Ch. on Commerce. (for

Mains.)

2. Visits and agreements. (make notes)

3. WTO: current (Bali summit, agrosubsidy)

4. Infra, Food processing related (GSM3)

Taxation/ Fiscal policy

NCERT Class 12 Macroeconomics

Chapter 5

1. Revenue and capital account

2. Measures of deficit

3. Changes in Expenditure : ignore graph and formulas

4. Debt, deficit

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After NCERT: Laxmiankth’s book on Indian Polity 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) Laxmikanth’s 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 doesn’t work anymore - because UPSC professors designing tough MCQs to break thebacks of coaching classes and senior players.) Anyways you should approach the basic of IndianEconomy 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

#3: Rural development

NCERT class11: Ch.6 Rural development

Rural banking=>RRB, financial inclusion (Mrunal’s articles)

Agri.marketing=> Food processing (Mains) (Mrunal’s articles)

Organic farming & its benefits.

Eco.Survey ch8 (agri. Food Management)

IYB chapter (Agri, rural urban Development)

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#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).

1. To prepare land reforms for Mains, go through

1. Mrunal.org/polity

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

3. Green revolution

0. NCERT geography books for more on Indian agriculture, cropping patterns, soil types.

1. India Yearbook 2014: MSP, NAFED etc from agriculture chapter

2. Ramesh Singh Ch.8.

3. Mains: Food processing- I’ve written whole article series [Food processing], links given ab ove.

4. Mains: Bipin Chandra: India Since Independencec h33+ Maintain notes from Yojana, newspapers, PIB etc. for issues related to land reforms, subsidies,rural development and planning.

#4: Industrial development

NCERT (economy) class11 Chapter 2: Industrial policy resolution, Import substitution, Permission raj

Chapter 3: LPG

Ramesh Singh

Ch. 6 (Economic Reforms)

Ch.7 Inflation. (+newspaper)

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

Budget + Economic survey + IYB

Mains: Bipin PI Ch.25-28

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#5: Infrastructure

1. NCERT class11: Ch.7 infrastructure

1. Energy=> renewable/non sources (GSM1); infra. (GSM3). For geography angle, refer

to Majid Hussian or DR Khullar.

2. 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: 12 th FYP plan’s points/recommendations for infrastructure. #6: Poverty, Human resources

NCERT class11:

1. Ch4 Poverty: poverty line, Causes of poverty

2. Ch5 human capital formation

3. Ch7 Employment

Prelim cum mains (GS1 and GS3)

0. Ramesh: ch.21 Demographic dividend, Ch. 22 human development

1. Eco. Survey ch.2 and ch.13

2. Census 2011, skill Development (Yoj/Kur/12th FYP/Schemes)#6: Sustainable development / Desi liquor

1. NCERT class11: 9

1. Carrying capacity, ozone depletion etc. basic

2. 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