After the introduction of new pattern of IAS Main (Written) Examination in year 2013, Economy has become a crucial part of IAS Main (Written) Exam General Studies. More than fifty percent questions in IAS Main (Written) Exam 2013 General Studies Paper III were asked from Economy section. Candidates must have strong command over the basic concepts of Economics and their ramifications and repercussions on the economic system and society. Candidates must focus on areas such as issues related to planning, federal Finance, Inflation, Money and Banking, Industrial growth and development, public expenditure and public debt, foreign capital, international trade.
Some basic books can be consulted for building up the basics of Economics. Basic NCERT Economics Books of XI and XII standards are inevitable to build up the strong fundamentals of economic concepts. Further candidate must consult one standard book like Mishra Puri or Dutt and Sundaram. Only few selected topics should be consulted from these books. In addition to this, candidate must keep the track of current happenings and initiatives in economic area.
Answer writing skill is key to the success in the IAS Main (Written) Exam. Candidates having well command over the subject but unable to express through the writing dwindle their chances of being figured in final list of successful candidates. Candidates can follow following points to enhance their writing skills:
• Candidates must practice the mock test papers to assess the speed and accuracy of writing.
• Candidates also keep in mind the word limits and the time prescribed for each question.
• Questions should be read properly then answer should be given accordingly. Generally it has been seen that candidates answer something else while question is about something else. Candidates should properly understand the terms like critically analyze, comments, evaluate etc.
• Candidate must include the standard economic terms wherever such terms are necessary. Objective of answer should be communicating the required answer in lucid and simple way.
• Hazy and ambiguous terms and vocabularies should be avoided
• Candidates can highlight the important sentence wherever necessary.
• Answer should be divided into different paragraphs according to the requirements of question.
• Candidates can practise last year questions of economy and compare them with standard answers available in the market.