Economics Optional Paper: Books to read for Civil Services Mains Exam

Which are the most recommended books to study Economics Optional paper? Read to know.

Civil Services Economics (optional subject in mains) requires vast but focused reading. As optional subject requires an understanding at an honors degree level, graduation or PG level textbooks should turn really helpful here.

For UPSC Civil Services Mains Optionals, the below-mentioned books can help.

NB: This post is for those who wish to take Economics as an optional subject in IAS Mains. For regular students, though there is an overlap of many books, the approach and books are slightly different.

Useful Books for Economics Optional – Civil Services Mains Exam

Paper 1:

Micro:

1. Ahuja – Advanced microeconomics theory – macro theories of distribution, welfare etc.
2. Pindyck and Rubenfield – game theory, asymmetric info etc.
3. Koutsoyiannis – markets, welfare economics, etc.
4. Varian – intermediate microeconomics.

Macro:

1. Snowdon and Vane – the best one.
2. Froyen.
3. Dornbusch.
4. Dwivedi (for money multiplier).

Trade:

1. Salvatore – The best one.
2. Krugman and Obstfeld.
3. IGNOU.

Growth:

1. IGNOU.
2. C I Jones.

Development:

1. Thirlwall
2. IGNOU

Public Finance:

1. H L Bhatia.
2. Musgrave.

Environment:

1. Economics of Environment – Subhashini Muthukrishnan

Paper 2:

• Economic Survey.
• India Year Book.
• Indian Economy Since Independence – Uma Kapila.
• Indian Economy – Datt and Sundaram.
• Indian Economy – Sanjeev Varma.
• Indian Economy – Mishra and Puri.
• Indian Economy – Performance and Policies – Uma Kapila.
• March of Indian Economy.
• Indian Economy – Ramesh Singh.
• Selected seminal articles from MA course like those by Deaton and Dreze, Deepak Nayyar, R Nagaraj, K Nagaraj etc.
• Magazines: Yojana, Kurukshetra, Economy at a glance.
• Draft Plan document- selected topics.
• Business newspapers selected epw articles etc.

Extra Reference:

• Macroeconomics – H L Ahuja.
• Modern Microeconomics – Koutsoyiannis A H. L. Ahuja.
• Modern Microeconomics – Kalyanjit Roy Choudhury.
• Monetary Economics – S B Gupta.
• International Economics – M. L. Jhingan.
• Statistical Methods – S P Gupta.
• Dictionary of Economics – Ghaham Bannock; T.E. Baxter, Ray Rees (Penguin).
• Economics – Paul A. Samuelson (Read Relevant Chapters*).
• An Introduction to Economics – A.W. Stonier and D.C. Hauge.
• Monetary Theory and Public Policy – Kenneth Kurihara.
• Outline of Monetary Economics  – A.C.I. Day (Read Relevant Chapters*).
• Public Finance – H.L. Bhatia.
• Modern Banking  – R.S. Sayers (Read Relevant Chapters*).
• Macro-Economic Analysis – Edward Shapiro.
• Money Supply in India: Concepts, Compilation, and Analysis: Functions and Working (Relevant Chapters*) – Reserve Bank of India.
• Economic Growth and Development – Mayer and Baldwin.
• Public Finance – K.K. Andley and Sundharam.
• National Income Accounting – Bakerman.
• Economics Choice – Koutsweanik.
• Banking – S.B. Gupta.
• International Trade – Bo Soderston.

Extra Tips

• Indian editions of the imported books may cost you less. But, make sure that the book has not compromised on quality and content.
• IGNOU Materials and financial newspapers can provide a lot of insights.