RBI Grade B Economy Preparation | How to Prepare?

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The Economic & Social Issues (ESI) is an important section of the RBI Grade B Phase II Examination. It tests a candidate’s knowledge about the Economic & Social concepts (static knowledge) and the various issues related to National & International Economic & Social issues (current affairs). It’s an objective paper carrying 100 marks and duration 90 minutes.

In the following article, we have provided the syllabus, resources & guideline to approach the Economic & Social issues section for your preparation:

 

What to study?

Following is the syllabus of Economics & Social Issues:

Syllabus of Economics [2020]

  •      Growth and development
  •      Measurement of growth: National income and per capita income
  •      Poverty alleviation and employment generation in India
  •      Sustainable Development and Environmental issues
  •      Economic reforms in India
  •      Industrial and Labor policy
  •      Monetary and Fiscal policy
  •      Privatization
  •      Role of Economic Planning
  •      Globalization
  •      Opening up of the Indian Economy
  •      Balance of Payments
  •      Export-import policy
  •      International Economic Institutions
  •      IMF and World Bank
  •       WTO
  •       Regional Economic Co-operation

 

Syllabus of Social Issues [2020]

  •    Social Structures in India
  •    Multiculturalism
  •    Demographic Trends
  •    Urbanization and Migration
  •    Gender Issues

Social Justice: Positive Discrimination in favor of the under privileged

Social Movements

Indian Political system

Human development

Social sectors in India: Health & Education

 

Order of Economics topics according to the weight-age given per topic in 2016 exam:

Sustainable development and environmental issues

Monetary and fiscal policy

Growth and development

Regional Economic cooperation

Export and import policy

IMF and World Bank

Industrial and labor policy

HRD

Poverty alleviation

Role of economic planning

Opening up of Indian economy

WTO

Balance of payment

 

Order of Social Issues topics according to the weight-age per topic given in 2019 exam:

Social justice

Social sectors

Demographic trends

Multiculturalism

Social Movements

Urbanization & Migration

Human development

Indian political system

Gender issues

 

Note: The RBI Grade B Exam can be unpredictable. Therefore, it’s not a good idea to base your preparation on the Previous Year RBI Grade B question paper analysis alone. If a particular topic got more weight-age in the 2016 exam, there is no guarantee that the same topic is going to get similar weight-age in the 2017 exam.

 

Resources for preparation

After a thorough analysis of last year’s RBI Grade B question paper, we found that most of the questions asked in Economics & Social Issues section were from the following sources:

Economic Survey of India

The Budget Document

Conceptual based (Books)

Basic knowledge (NCERT)

Newspapers (Current events, factual in nature)

Press Information Bureau

Most of the questions were based on facts, figures, numbers, percentages, that are required to be remembered. Therefore, based on last year’s question paper we concluded that the following are three most important sources:

The Hindu Newspaper

The Economic Survey of India

The Union Budget

However, since the RBI Grade B Exam is unpredictable, you need to go beyond these above-mentioned sources. The above-mentioned sources contain the topics and brief description of those topics. To dig deeper into those topics and gain an in-depth understanding, you will need to exploit the other, below mentioned resources:

 

Books

Indian Economy by Uma Kapila

Indian Economy by Mishra & Puri

Growth & Development: Devraj Ray

Sociology: C.N. Shankar Rao

How to read balance sheet

How to read cash flow

How to analyze financial statements

IGNOU B.A. Economy Booklets.

 

Reports

Economic Survey of India

World Development Report

Union Budget

RBI’s Annual Report.

 

Newspapers

Economic Times

The Hindu

Business Standard

 

Magazines/Bulletins

Economic & Political weekly

Yojana

Pratiyogita Darpan

Southern Economist

Business India

RBI Bulletins

 

News channels

Listen to views of Economic experts

 

Others

Sample question papers by RBI. This will give you an idea of both the nature & the difficulty level of questions asked.

FAQ Section of the RBI website

Investopedia Website