01 March, 2013

Economic Thought

This post is on topic 1 of the General Economics II of the IES examination. 

Let's go through the questions in the past 4 years:-

Explain the concept of "tableu Economique" as propounded by the physiocrats. (5 marks,50 words question)

State briefly the key propositions of Monetarist School of Macro Economics. (15 marks,150 words)
Examine the circumstances that gave rise to the mercantilism and those that brought about its decay. Is the world going back to mercantilism in a new form? (30 marks, 500 words)

"Adam Smith's concept of 'Invisible Hand' teaches us that everything in an economy can be left to market forces." Discuss. (15 marks,150 words)

What were the mercantilist's views on trade? How does their concept of national wealth differ from today's view?

A mastery in this section can also equip us to supplement our answers for questions from other parts of the paper, apart from the direct questions from this section. An example of such a question is the following- 

12 February, 2013

Let's Get started with the preparation of Indian Economic Service............

Hello friends,

                    We are a team of two people who would like to be more interactive with the aspirants of Indian Economic Service Examination conducted by UPSC.. First of all we must understand that it is not a tough exam and not meant for extra ordinaries.. but for who they are very much thorough with the basic concepts of Economics and who can use it in an extra ordinary way.... We would like to dedicate our efforts for beginners.... So as a beginner the first step of preparation is to get the syllabus of the exam and going through it word by word considering it as the best guide of the exam... Get the syllabus by clicking the link below.... 

                 Second step of preparation is to collect the old question papers as much as you can get but preferably of past 4 years... You can get it here.....

Question Papers of 2012

07 February, 2013


General Economics-I:
  • For Micro: Koutsoyyiannis, Ahuja or any other good book
  • For Macro: Shapiro, Dornbusch and Fischer, Ahuja
  • Referring to Books of Class 11th and 12th NCERT Maths book is also necessary
  • Refer Class 12th book of CBSE for National Income Accounting

General Economics-II:
  • For Monetary topics refer to SB Gupta (For both) RBI Report and M L Jhingan
  • For International Economics prescribe Mannur, Soderston or any other book
  • For Growth and Development refer to Baldwin, Meir and M L Jhingan and go through any one or two latest book of Amratya Sen

History of the service

 The Indian Economic Service (IES) was conceived by Pandit Jawahar Lal Nehru for formulating and implementing economic policies and programmes of the country. After independence, economic reconstruction and development was envisioned as one of the foremost objective and a challenge to the national planners. The most important prerequisite in this development process was the formulation of suitable plans, policies and measures for the effective utilisation of material, financial and human resources. It was in this context that Pandit Jawahar Lal Nehru envisaged the creation of a separate cadre of economists for steering the economic development of the nation.

Cadre Control

The IES Division in the Department of Economic Affairs is entrusted with the responsibility of Cadre administration and management of the Indian Economic Service.
The main functions of the IES Cadre Division are all matters pertaining to the following: