IAS Prelims 2014:Importance of Economy

It is high time to start for the IAS Prelims 2014.

It is high time to start for the IAS Prelims 2014. The Preliminary is Scheduled to be conducted on 24 August 2014. It consist of General Studies Paper I and General Studies Paper II. Relevance of economics as a subject for IAS and allied services can be understood from two perspectives.

First, why and how Economics as a discipline is a must for the job profile of future Civil servants and second, how and why this section plays one of the most important role in deciding the fate of aspiring candidates in the recruitment of Civil services. This article will mainly focus on the second aspect i.e, importance of the economics in recruitment exam and even more specifically its importance in Preliminary exam which is the first stage of the recruitment process and indeed the most important stage.

The vitality of Preliminary exam as a most important stage in the whole selection process can easily be understood by the fact that almost more than 80% of students get rejected in this very first round itself.
Now coming to Economics section of the syllabus, it can safely be assumed that almost 15-20 questions come from this section. The importance of Economics can be discussed in the context of:

  • Increasing relevance in the current Global Scenario and Global Economic Downturn
  • Current debate on the imbalanced economic scenario of India as a developing economy and its comparison with other developing economies like Brazil, China,     Indonesia etc.
  • Increasing role of trade and investment in the area of International relation and negotiations.
  • Focus of India on rapid socio-economic growth and balancing its global/external financial exposure.

Thus, it’s not a surprise that the number of questions in the preliminary exam has been seeing an increasing trend in the recent years.
Also, economics is one of those areas in whole of the GS which can be relatively easy to prepare and the questions asked in UPSC can also be handled with much predictability. In this context, this should be noted that UPSC seldom asks from the specific core areas of theoretical economics, rather the complete focus is on contemporary perspective of Indian Socio-Economic scenario. Thus it is more of Indian Socio-Economy rather than Economics. Here the Macro Economics has been given very less importance which contains more theoretical approach.

On the other hand Economics is one of those areas which will help the candidates even more in Mains and Interview stage also. Thus, it is not only a must to prepare at Preliminary stage but it can also help us in all the successive stages of recruitment.
Thus, on a concluding note it can be said that economics can be a deciding factor in the preliminary exam due to its reliability, its increasing importance in the recent socio-economic scenario as well as because of its sustained relevance in all the stages of recruitment process.

The candidates can raise their queries related to their preparation at IAS/PCS group of Myjosh.

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