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ECONOMICS – OPTIONAL PAPER OF MAINS EXAMINATION

WBCS has always made the students to go far beyond their normal routines and cliff to the new steps of learnings and yearnings. As the basket of optionals or the choice of subjects to be selected by the aspirants is very vast, it creates the tendencies for confusion and chaos for the students due to the stiff nature and competitiveness of the examination. Every mark is valuable in this examination and so does the choice of optionals. It is not just about selecting one just paper but a move by the aspirant to decide his final fate in the list. WBCS always follow a trend which decides the marks fetching capabilities from the particular optional. Based upon the recent and current trend of various optionals computed on the data’s provided by WBCS Body , Economics stands among the top scoring papers since 2013.The mark fetch by the economics aspirants are among the top ones.

Due to the change in the pattern of asking questions in Economics mains, it has become one of the safest optional now a days. All an aspirant needs is a proper list of books with best mentoring. Anybody can now a days take Economics as an optional and does not need strong background in subject , as most of the topics of Paper 2 Economics has already being covered under Indian Economy part of General Studies paper

Just few good readings on Indian economy can make your both General studies and Paper 2 Economics scoring and worth reading,thus saving both labour and time. As far as Paper 1 is concerned, it is all about the basic principles of Economics .The pattern of asking questions on Paper 1 Economics has been the direct pick from the last years and static. A proper analysis of last year questions in Paper 1 will provide an incentive to the aspirant to differentiate between what is worth readings and what could be waved off. This subject is not time consuming and its dynamism keeps you on the right path. It does not make you bore or creates fatigue during the long periods of preparations.It increases your rationality and creates analyticalism , which in turn increases the scorecard of other papers for the aspirant. Let’s us now talk about how to go with the papers. It is a proper and best way to deal with this optional

Paper– I

ECONOMY

This Paper consists of 6 schools of Economic thought, which can be classified into:

  • Advanced Micro Economics
  • Advanced Macro Economics
  • Money & Banking
  • Public Finance
  • International Economics
  • Growth and Development
  • Statistics & Econometrics

All the aspirants are required to go through the previous year’s question papers to analyse the pattern of this Paper. Generally straight forward questions are asked from these sections of which ample study material being available to the students.Following reference material is expected to help you with finding the proper source for this paper.

1. Advanced Microeconomics

1.1.Consumer Behaviour
1.2.Welfare Economics
1.3.Market Structure

Sources:

  • Microeconomics by Koutsoyyiannis
  • Microeconomics by A .Sen

2. Advanced Macroeconomics

2.1.ClassicaL Thought
2.2. Interest Theories
2.3.Keynesian Thought
2.4.Monetarist School

Sources:

  • Macro Economics by Richard T. Froyen
  • Macro Economics by Jaydeb Sarkhel

3.MONEY AND BANKING

3.1. Monetary Economics

Sources:

  • S.B. Gupta
  • RBI Journals
  • MINT Articles

4.PUBLIC FINANCE

Sources:

  • Public Finance by Masgrave and Masgrave
  • Public Finance by Hendrick Miles
  • Monetray Policy Reviews

5.INTERNATIONAL ECONOMICS

Sources:

  • International Economics by H.G.Mannur
  • International Economics by Jagdish Baghwati

6.GROWTH AND DEVELOPMENT

Sources:

  • Growth Economics by Sarkhel
  • Growth Economics by Todaro and Smith

7.ECOMOMETRICS

Sources:

  • Damodar Gujrati

8.STATISTICS

Sources:

  • Combined Statistics by N.G.Das

Paper– II

INDIAN ECONOMY

Sources:

  • Indian Economics by Kaushik Basu
  • Indian Economics by Jagdish Baghwati
  • Writings of Bimal Jalan
  • Writings of Rajan
  • Mint Articles and Editorials
  • Rbi Reviews
  • Bengal Economy
    (any regional author)
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