Economics book for UPSC Optional

By | June 26, 2023

Click here for Economics Optional syllabus

Economics book for UPSC Optional


Paper 1

  • HL Ahuja’s ‘Advanced Economic Theory: Microeconomics’.
    • Chapters 1-5, 13, 16, 17, 22, 27, (31 is borderline- it’s a short chapter, better to read it, just in case), 39, 43, 44, (46-49), (52-54), 56, 57, 66, 67.
  • Koutsoyiannis 
  •  Richard Froyen
    • Froyen starts from the beginning of Macroeconomic thought (mercantilists onwards) , Okun’s Law, Paradox of Thrift etc. ( from ahuja )
  •  HL Bhatia plus Musgrave and Musgrave
    • Musgrave and Musgrave is needed for technical clarity. Only do Chapters 1, 4, 8, and 12-17. Only if you have time, also do Chapters 5-7.
  •  Salvatore, and just one appendix from Krugman and Obstfeld
  • Harrod’s model: From Ahuja’s macro book
  • Lewis model of development with surplus labour: From Debraj Ray’s book (‘Development Economics’)
  • Balanced and Unbalanced growth: From ML Jhingan’s ‘Economics of Development and Planning’

Paper 2

  • The Uma Kapila book 
  • Indian Economy in Pre-Independence Era:
    • Tirthankar Roy’s ‘The Economic History of India: 1857-1947’ covers almost everything here. Read Chapter 2 (pages 37-52), Chapter 3 (Pages 90-95), Chapter 4 (Pages 128-136), Chapter 7 (Pages 186-200), Chapter 8 (Pages 225-231), Chapter 9 (Pages 238-242), and Chapter 10 (page numbers correspond to the Third Edition).
  • Internet searches/ EPW articles/ Finance Commission Reports

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