Who it is for
A clear fit matters.
Built for students with a postgraduate economics background who want a public policy career and are ready for rigorous descriptive economics preparation.
UPSC-conducted Group A service
Indian Economic Service IES Preparation
The Indian Economic Service is a UPSC-conducted Group A service for economists. The written papers go to postgraduate depth and test theory, quantitative methods, Indian economy and policy writing.
Exam format
Structure and papers.
The written examination carries 1000 marks across six 3-hour papers: General English, General Studies, General Economics I, General Economics II, General Economics III and Indian Economics.
General English
100 marks, 3 hours, subjective.
General Studies
100 marks, 3 hours, subjective.
General Economics I
200 marks, 3 hours: Microeconomics, Mathematical Methods, Statistics and Econometrics.
General Economics II
200 marks, 3 hours: Macroeconomics, Economic Thought, Money and Financial Markets, International Economics, Growth and Development.
General Economics III
200 marks, 3 hours: Public Economics, State and Planning, Industrial Economics and Environmental Economics.
Indian Economics
200 marks, 3 hours: Indian Economy, Agriculture, Industry, External Sector, Public Finance, Demography and Social Sector, and Reforms.
Syllabus breakdown
What to cover for IES.
General Economics I: Micro, Mathematical Methods, Statistics and Econometrics
- Microeconomics: consumer demand, revealed preference, choice under risk and uncertainty, production, cost, market structures, factor pricing and welfare economics.
- Mathematical Methods: differentiation, integration, optimisation, sets, matrices, linear algebra, linear programming and input-output models.
- Statistics: central tendency, dispersion, correlation, regression, time series, index numbers, sampling and income-distribution measures including Lorenz curve and Gini coefficient.
- Econometrics: least squares, multiple regression, ANOVA, factor analysis, principal component analysis, discriminant analysis, heteroscedasticity, autocorrelation and multicollinearity.
General Economics II: Macro, Economic Thought, Money and Financial Markets, International Economics, Growth and Development
- Economic thought: mercantilist, physiocratic, classical, Marxist, neoclassical, Keynesian and monetarist schools.
- National income and social accounting, including government, international transactions and green national income.
- Employment, output, inflation, money and finance: classical, neoclassical, Keynesian and post-Keynesian analysis; inflation; money demand; IS-LM and AD-AS.
- Financial and capital markets: finance and development, stock markets, banking, insurance, equity, derivatives, futures and options.
- International economics: gains from trade, terms of trade, trade theories, tariffs, regional trade, balance of payments, exchange rates, Mundell-Fleming and global institutions.
- Growth and development: measurement, LDC characteristics, poverty, distribution, Smith, Marx, Schumpeter, Solow, Kaldor, Harrod-Domar, Rostow, Lewis, Nurkse and dependency approaches.
- Human development and welfare: capability approach, HDI, PQLI, Human Poverty Index and endogenous growth basics.
General Economics III: Public Economics, State and Planning, Industrial Economics and Environmental Economics
- Public finance: taxation, tax reforms, incidence, public expenditure, cost-benefit analysis, public investment, budgetary deficits and public debt.
- State and planning: planning in developing economies, regulation, markets, indicative planning, decentralised planning and the role of the state.
- Industrial economics: structure-conduct-performance, product differentiation, market concentration, oligopoly, innovation, investment behaviour and public policy.
- Environmental economics: sustainable development, Green GDP, valuation methods, pollution taxes, permits, climate agreements, carbon markets and climate finance.
Indian Economics: Indian Economy, Agriculture, Industry, External Sector, Public Finance, Demography and Social Sector, Reforms
- Indian economy: planning, import substitution, post-1991 reforms, national income, poverty, inequality, employment and human development.
- Agriculture: land reforms, Green Revolution, agricultural prices, subsidies, food security, public distribution system and rural development.
- Industry: industrialisation strategy, public and private sector roles, privatisation, disinvestment, FDI, multinationals, IPR and industrial policy.
- External sector: trade reforms, exchange rate, balance of payments, WTO, EXIM policy, TRIPS, TRIMS and GATS.
- Public finance: budgeting, FRBM, public debt, black money, fiscal federalism and public expenditure.
- Demography and social sector: population, urbanisation, labour, education, health, skilling, poverty alleviation and employment programmes.
- Reforms: fiscal reforms, financial sector reforms, trade reforms, agricultural reforms and the changing role of planning.
Recommended preparation
Books, resources and study method.
Build General Economics I, II and III with the standard core textbooks for Microeconomics, Macroeconomics, Money and Banking, Public Economics, International Economics and Growth and Development. Refer to the reference resources column for more details.
Solve PYQs after you finish every topic, and build answer writing practice early.
Start Indian Economics after the core is done, but start newspapers early. Combine the textbooks with the latest Economic Survey and Union Budget so Indian Economy preparation stays current.
Reference resources
Suggested books and sources.
Microeconomics
- A. Koutsoyiannis, Modern Microeconomics
- Hal R. Varian, Microeconomic Analysis
- H. L. Ahuja, Advanced Economic Theory: Microeconomic Analysis
- Walter Nicholson and Christopher Snyder, Microeconomic Theory: Basic Principles and Extensions
Game Theory
- Martin J. Osborne, An Introduction to Game Theory
- Joel Watson, Strategy: An Introduction to Game Theory
- Walter Nicholson and Christopher Snyder, Microeconomic Theory: Basic Principles and Extensions
- Hal R. Varian, Microeconomic Analysis
Macroeconomics
- Richard T. Froyen, Macroeconomics: Theories and Policies
- Olivier Blanchard, Macroeconomics
- Rudiger Dornbusch, Stanley Fischer and Richard Startz, Macroeconomics
- H. L. Ahuja, Macroeconomics: Theory and Policy
- Andrew B. Abel, Ben S. Bernanke and Dean Croushore, Macroeconomics
Money and Banking
- Michael R. Baye and Dennis W. Jansen, Money, Banking, and Financial Markets
- H. L. Ahuja, Macroeconomics: Theory and Policy
- Pami Dua, Monetary Policy Framework in India
- Y. V. Reddy Committee, Report on Monetary Policy Committee
- Narendra Jadhav, Monetary Economics for India
Public Economics
- Harvey S. Rosen and Ted Gayer, Public Finance
- Joseph E. Stiglitz and Jay K. Rosengard, Economics of the Public Sector
- Richard A. Musgrave and Peggy B. Musgrave, Public Finance in Theory and Practice
International Economics
- Dominick Salvatore, International Economics
- Paul R. Krugman, Maurice Obstfeld and Marc J. Melitz, International Economics: Theory and Policy
Growth and Development
- A. P. Thirlwall, Growth and Development: With Special Reference to Developing Economies
- Michael P. Todaro and Stephen C. Smith, Economic Development
- N. Gregory Mankiw, Macroeconomics
- Amartya Sen, The Harrod-Domar Model
- Debraj Ray, Development Economics
- M. L. Jhingan, The Economics of Development and Planning
Indian Economy
- S. K. Misra and V. K. Puri, Indian Economy
- Uma Kapila, Indian Economy: Performance and Policies
- Uma Kapila, Indian Economy since Independence
- Economic Survey of India (latest)
- Union Budget (latest)
Quantitative Methods in Economics
- Knut Sydsaeter and Peter J. Hammond, Mathematics for Economic Analysis
- Alpha C. Chiang and Kevin Wainwright, Fundamental Methods of Mathematical Economics
- Jay L. Devore, Probability and Statistics for Engineering and the Sciences
- Joseph K. Blitzstein and Jessica Hwang, Introduction to Probability
- Jeffrey M. Wooldridge, Econometric Analysis of Cross Sectional Data
- Damodar N. Gujarati and Dawn C. Porter, Basic Econometrics
Also for IES aspirants
Answer Writing Program — starts 1 August 2026.
A ten-month, fully evaluated answer writing program for the IES 2027 attempt. Every topic runs through the same 9-day cycle, with GS and English as dedicated parallel tracks and two full mocks in May.
Concept-first preparation
Prepare for IES with RBI DEPR overlap built in.
EcoNiti treats IES as economics mastery plus exam calibration. We start with building the foundational depth for GE I, GE II and GE III. Then we convert this into Indian Economy application for GE IV. The entire process is accompanied by answer writing practice and regular evaluation to make learning exam ready.
Integrated live batch course
IES + RBI Grade B DEPR Integrated Course
A shared live-batch course for Indian Economic Service and RBI Grade B DEPR, because serious aspirants commonly prepare for both and need the same economics core.
₹58,000
incl. GST
FAQs
Questions students ask.
Is IES preparation different from UPSC CSE Economics Optional?
Yes. There is overlap in economics, but IES is broader and deeper at postgraduate level, with more quantitative content and multiple descriptive economics papers.
Can I prepare for IES and RBI DEPR together?
Yes. A large economics core overlaps, especially micro, macro, money, public finance, international economics, growth, statistics, econometrics and Indian economy.
Does the EcoNiti IES course also help RBI DEPR?
Yes. EcoNiti offers a shared IES + RBI Grade B DEPR course because many students prepare for both and need the same economics depth with separate exam practice.