UPSC-conducted Group A service

Indian Economic Service (IES)

The Indian Economic Service is a Group A government service for economists, recruited through UPSC. Here is what you need to know about eligibility, the exam and preparing for a career in economic policy.

IES + RBI DEPR coaching View syllabus

Before you begin

Who can apply for IES?

Education: You need a postgraduate degree in Economics, Applied Economics, Business Economics or Econometrics from a recognised university. A BA or BSc alone is not enough.
Age: The usual age requirement is at least 21 and under 30, measured on the date in the notification. Category and other relaxations apply; check the conditions for your attempt.
Waiting for your result?: Candidates awaiting the result of the qualifying degree, or appearing in the qualifying examination, may apply provisionally under the notification's conditions. You must provide proof of passing by the required deadline. Being enrolled in an MA does not by itself make you eligible.
Before you apply: Check your degree title, age, nationality conditions and required certificates against the notification. Keep the documents ready for verification.

What does the job involve?

IES officers analyse economic data, assess government programmes and advise ministries on policy. Work can span public finance, agriculture, industry, infrastructure and the social sector. It is a career for students who want to use economics in government decisions. This is the Indian Economic Service, not Engineering Services or the Indian Statistical Service.

Who it is for

Is this exam right for you?

Consider IES if you enjoy economics, data and public policy, and are ready for rigorous descriptive economics preparation. The economics papers require postgraduate knowledge. You also need to prepare General English and General Studies.

Exam format

How does selection work?

Selection has a 1,000-mark written examination followed by a 200-mark interview. All six written papers are descriptive, last three hours each and must be answered in English. There is no separate objective prelims stage. Written and interview marks together determine the final merit list, subject to UPSC's qualifying rules.

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.

Download IES syllabus

General Economics I

Microeconomics, 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

Macroeconomics, 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.

General English

Essay writing, understanding and use of English, and summary or precis writing. Practise expressing an argument clearly within the time limit.

General Studies

Current events, everyday science, Indian polity and the Constitution, history of India and geography. Prepare this paper alongside economics rather than leaving it until the end.

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 previous year questions (PYQs) after each topic, and build answer writing practice early. Use evaluation and feedback to improve your answers as you study.

Start Indian Economics after the core subjects are covered, but start reading newspapers early. Combine the textbooks with the latest Economic Survey and Union Budget to connect theory with India's economy.

Prepare General English and General Studies alongside economics, with regular time for writing practice.

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

Download full reference guide View free resource hub

Concept-first preparation

Prepare for IES with RBI DEPR overlap built in.

At EcoNiti, we first build the theoretical foundation for General Economics I, II and III. We then use that foundation to study Indian Economics. Answer writing and regular evaluation continue throughout, so you learn both the subject and how to use it in the exam. Dr. Komal teaches the classes and evaluates your work.

Integrated live batch course

IES + RBI Grade B DEPR Integrated Course

A shared live-batch course for students preparing for IES, RBI Grade B DEPR or both. The exams overlap across much of the economics syllabus, with separate practice where their formats differ.

₹58,000

incl. GST

View course details

Also for IES aspirants

Answer Writing Program for IES.

A ten-month IES answer writing program with 5 years of PYQ model answers, full Economics, Quantitative Methods, GS and English coverage, new Day 7 PYQ-pattern questions, revision lectures, and evaluation and feedback by Dr. Komal.

View program

Where to begin

What do you need help with?

I want to study on my own

Start with the syllabus and previous year questions. Use the free subject-wise papers to see what you can already answer and what needs work.

Free IES papers and resources

I need classes for the economics papers

The IES + RBI DEPR course covers economics teaching, tests and evaluation with Dr. Komal. IES General Studies and General English are not included in this course.

IES + RBI DEPR coaching and fees

I know the syllabus but need writing practice

The IES Answer Writing Programme combines topic revision, previous year questions and model answers, tests, and evaluation by Dr. Komal. It covers Economics, Quantitative Methods, General Studies and English for students who have studied the syllabus once.

IES answer writing programme

FAQs

Questions students ask.

Can I apply for IES with only a BA in Economics?

No. IES requires a postgraduate degree in Economics, Applied Economics, Business Economics or Econometrics. Candidates awaiting the qualifying result may apply provisionally only under the notification's conditions and must submit proof by its deadline.

Is Indian Economic Service the same as Engineering Services?

No. These are separate services and examinations. This guide covers the Indian Economic Service. The Indian Statistical Service is also separate, although UPSC publishes a combined IES/ISS notification.

Can I write the IES papers in Hindi?

IES question papers are set in English and answers must be written in English. Check the examination instructions for your attempt.

How long should I prepare for IES?

There is no fixed period that suits everyone. First try a few previous year questions from each paper. Your plan should allow time for topics you have not studied, revision and timed writing, alongside your college or work commitments.

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. The integrated course covers the economics papers for both exams with separate practice for their formats. It does not include IES General Studies or General English. The separate IES Answer Writing Programme covers those papers as well as economics, but is intended for students who have already studied the syllabus.