10 Best Books for Erudition in IAS Economy for MCQ 2021
Preparing for the Indian Administrative Service (IAS) exam can be a daunting task, especially when it comes to mastering economics. Many candidates struggle to understand the complex concepts and theories that form the basis of the Indian economy. If you’re looking for the best books to help you ace the economics portion of the IAS exam, look no further.
In this article, we’ll be sharing the top 10 books you should read to gain a comprehensive understanding of economics, both theory, and practical.
1. Indian Economy by Ramesh Singh
The book is a go-to reference for IAS aspirants in the preparation of the economics section of the exam. It covers all the essential topics in Indian economics, including the economy’s structural components, monetary and fiscal policies, and environmental economics.
2. Indian Economy: For Civil Services Examinations by Nitin Singhania
This book is an extensively revised and updated version of the first edition, specifically designed for the Civil Services Examination. The book covers macro and microeconomics, as well as the Indian economic system, its challenges, and its legislations.
3. Principles of Economics by N. Gregory Mankiw
This economics textbook, which is used worldwide, is a compelling introduction to the discipline and provides a comprehensive overview of economics. The text is organized around various key principles, such as supply and demand, incentives, and trade-offs.
4. Indian Economy for Civil Services, Universities, and Other Examinations by Ramesh Singh
This book is an ideal resource for aspiring economists, as it covers a range of topics relevant to the Indian economy in detail. The book is targeted towards both candidates aiming to crack IAS and other competitive exams and students pursuing an MA in economics.
5. The Wealth of Nations by Adam Smith
This classic work of economic theory provides an exhaustive analysis of market economies and the principles that govern them. It’s an essential read for anyone interested in economics and would serve as a foundation for IAS aspirants who want to gain an in-depth understanding of economics.
6. Indian Economy: Performance and Policies by Uma Kapila
This book goes beyond the formal aspects of the Indian economy and examines the country’s economic policies and performance, current challenges, and future prospects. It contains several recent case studies and a focus on contemporary economic subjects, which make it a go-to reference for IAS exam preparation.
7. International Economics by Francis Cherunilam
This book is a comprehensive guide to global economics and is a must-read for those aiming to crack the IAS exam. It covers all the essential topics such as international trade and finance fundamentals, international macroeconomics, and international monetary systems.
8. Public Finance by H.L. Bhatia
This book is specifically designed to provide a thorough examination of public fund management and finance in India. It has been updated recently to include modern economic theories and policies.
9. The General Theory of Employment, Interest, and Money by John Maynard Keynes
This book offers an extensive critical reappraisal of the public economic doctrines, which was not so popular until the 20th century. It presents profound analytical arguments that rocked the foundation of classical economic theory and remains an essential reference text for IAS aspirants.
10. An Uncertain Glory: India and its Contradictions by Jean Dreze and Amartya Sen
This book is a frank and penetrating analysis of how India’s economic growth processes have affected the country’s social indicators. It covers topics like Health, education, child mortality, and poverty reduction, which will equip IAS aspirants with a deep understanding of the impact of economics policies on India’s society.
Conclusion
No matter what field you’re in, whether it’s economics or law or engineering, reading is a great way to advance your knowledge. The above-listed books are perfect resources for preparing for the IAS exam.
In conclusion, we recommend that all IAS aspirants read these books and complement them with other relevant material like newspapers, news bulletins, and miscellaneous sources to cover the gaps. It’s essential for candidates to realize that preparation for the IAS exam is not just restricted to learning facts but is about developing into an informed individual with an open mind and holistic knowledge.
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