UPSC with Monika

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Economics

Why I Chose Economics Despite No Background

I chose Economics entirely out of interest. Coming from an engineering background, I was inclined towards a subject that is logical and analytical in nature. While going through the basic NCERT books and briefly scanning the syllabus, I developed a strong intuition that this subject could be managed effectively with effort.

Challenges I Faced with Economics

  • Limited resources: There are relatively fewer standard resources available in the market, and structured guidance or mentorship is also limited.
  • Lack of peer support: It is difficult to find fellow aspirants with the same optional, which restricts discussion.
  • Conceptual depth: Paper I requires a strong and in-depth understanding of economic theories and models.
  • Vast syllabus: The syllabus is quite extensive, hence demands hard work and regular practice over a long period.

Resources –

PAPER – I :

  1. Advanced Microeconomics
    • H.L Ahuja : Microeconomics Analysis (Read Specific Chapters mentioned here)
    • For topics that I could not understand, I watched lecture videos of BlissPoint Economics Optional Course which I had enroled for.
  2. Advanced Macroeconomics
    • Froyen Macroeconomics
    • Selective chapters from Ahuja based on PYQ pattern and recommendations by toppers (Kumar Anurag, Pragati Nautiyal)
  3. Money-Banking and Finance
    • Mostly Class Notes as part of BlissPointStudies supplemented by Musgrave and Musgrave.
  4. International Economics
    • I found this section of paper 1 the most interesting out of all. I read the whole book Salvatore (including appendices topics) multiple times.
  5. Growth and Development
    • Jhingan , Jha Sir Notes from lectures.
  6. Environmental Economics
    • Harvey Rosen (Selected Chapters)(Will attach highlighted ones)

PAPER-II :

  1. I have completelty relied on notes of Kumar Anurag Sir given here.
  2. Economic Survey and Budget for last 3 years.
    • I tried to incorporate survey-style statements in my answers (e.g. Reinstatement effect of AI,
  3. Mains365 for fringe topics and current related topics.
  4. Extensive use of ChatGPT for Economists views(Argument and Counter Argument both)(Sample Prompt : Comment on PLI Success using Indian Economists views)

Recommendations –

  1. Interlinkages between both papers –
    • Paper 1 Models in Paper 2 (e.g. Lewis Model, Harrod Domar Model)
    • Paper 2 examples in Paper 1 (e.g. India Growth story in Development models, India Demonetisation example in Adaptive Expectation Model etc).
  2. Approach of attempting Qs –
    • I used to First attempt compulsory Q1 , followed by 20-markers and then lastly Q5.
    • I used to timemark every Qs for better time management in initial 5 minutes after getting the paper.
  3. I attempted atleast 3 FLTs for both papers in time simulated environment.
  4. Started writing Conclusion for almost all Qs in both papers.
    • In most Qs of Paper 1, either I used to end my conclusion with an example(mostly from Indian economy) or I used to mention alternate schools (For e.g. if Q asked on Classicals, I used to mention Keynes and Monetarists in 2-3 lines in the end)
  5. For Last minute, I had prepared short notes for every section in this attempt.

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