Who it is for
A clear fit matters.
For economics postgraduates who want central banking roles and are willing to deliver both objective precision and descriptive economic reasoning.
Department of Economic and Policy Research
RBI Grade B DEPR Economics Preparation
RBI Grade B DEPR is for economists who want to work on monetary policy, inflation, banking, financial markets and macroeconomic research inside the Reserve Bank of India.
Exam format
Structure and papers.
The exam is conducted in phases. Phase I / Paper I combines objective Economics with descriptive English. Phase II has two descriptive Economics papers: Paper II and Paper III.
Phase I / Paper I
Objective Economics and descriptive English writing.
Phase II Paper II
Descriptive Economics: Microeconomics and Macroeconomics, with equal weightage.
Phase II Paper III
Descriptive Economics: Quantitative Methods and Indian Economy, with equal weightage.
Syllabus breakdown
What to cover for RBI DEPR.
Economics Core
- Microeconomics: consumer-producer theory, market structure, welfare, public goods, externalities and pricing logic.
- Macroeconomics: national income, employment, output, inflation, IS-LM, AD-AS, monetary and fiscal policy.
- Money and banking: money demand and supply, central banking, monetary transmission, financial markets, banking regulation and financial stability.
- Public economics: taxation, expenditure, fiscal policy, deficits, public debt, subsidies and fiscal federalism.
- International economics: trade theory, exchange rates, balance of payments, external sector management and global institutions.
- Growth and development: growth models, development theory, poverty, inequality, human development and environmental sustainability.
Quantitative and Analytical Methods
- Mathematical methods for economics: optimisation, matrices, linear algebra, comparative statics and model-based reasoning.
- Statistics: probability, distributions, sampling, central tendency, dispersion, correlation, regression, time series and index numbers.
- Econometrics: least squares, multivariate analysis, interpretation of regression output and common estimation issues.
- Data interpretation for objective questions, policy reports and macroeconomic indicators.
RBI-Relevant Indian Economy and Policy
- Indian economy, planning, reforms, agriculture, industry, services, poverty, unemployment and human development.
- Inflation, monetary policy, financial sector reforms, RBI reports, banking, NBFCs, capital markets and financial inclusion.
- External sector, trade, exchange rate, balance of payments, global shocks and India's macroeconomic policy response.
- Objective economics practice for Phase I.
- English writing in Phase I / Paper I, and descriptive economics, policy essays and short answers in Phase II.
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
Concept-first preparation
Prepare for RBI DEPR with IES-level economics depth.
EcoNiti prepares RBI DEPR through IES-level economics depth, RBI-specific policy orientation, Xaptiq objective practice and descriptive answer feedback.
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.
Does RBI release official DEPR past papers?
RBI does not release official past papers in the way many students expect. Most available questions are memory-based, so conceptual preparation is safer than pattern memorisation.
Is RBI DEPR preparation objective or descriptive?
Both formats matter, but they appear in different stages. Phase I / Paper I has objective Economics and English writing, while Phase II has descriptive Economics papers.
Why does EcoNiti combine IES and RBI DEPR?
The shared economics core is large and students commonly prepare for both. The integrated course builds one strong foundation and then adds RBI-specific objective and descriptive practice.