What UPSC asks most

Optional Papers I and II (250 marks each): economic theory with models, equations and diagrams (Paper I), the Indian economy from colonial times to the post-1991 reforms (Paper II).

Traps to avoid

• Stating a model without its assumptions, diagram or criticism.
• Quoting old data; give figures with their year and source (Economic Survey, Budget, NSO, RBI).

How to study it here

1. Read one chapter, then solve two of its past questions under time, including any numerical, and compare with the model answers.
2. Draw the standard diagram in every theory answer, and quote Indian data with its year and source in Paper II.

Mains: Optional: define the concept with its economist, set out the model with its diagram or equation, apply it to India with current data, and end with a balanced judgement.