Economics Syllabus for APSC (Mains) Examination

Economics is an optional subject in the Assam Public Service Commission (APSC) Combined Competitive (Mains) Examination. Looking for the Assam Civil Service exam syllabus? Find below the complete Economics Syllabus (Unit I to Unit IV) for APSC Combined Competitive Examination (Mains). The first paper covers the Principles of Economics and the theory of Money, and the Paper II of Economics covers Finance and Indian Economics Problems.

Economics Syllabus for APSC Assam Civil Services (Mains) Examination:

UNIT – IEconomics problem, nature of economics laws, price mechanism, Demand and supply, nature of demand curve Elastic and inelastic demand, Factors determining them, Indifference curves – properties, laws of returns, Superiority over analysis, Cost curves, Fixed and Variable, marginal cost and average cost, their relationship. Equilibrium, conditions of equilibrium under perfect competition monopoly and monopolistic competition. Gross and net national income rent wages, interest and profit, Trade cycles, Characteristics, Phases and causes of trades. Types of unemployment.
UNIT – IINational income, estimate and measurement difficulties, different kinds of money, the origin of money, supply of money, price level, index numbers, its construction, uses and the limitations quantity theory of money, assumption and limitation. Power and functions of the central bank, inflation and deflation, causes and remedies. Monetary standards, foreign exchange, its determination.
UNIT – IIINature of public finance, Distinction between public finance and private finance, sources of public revenues, tax and non-tax revenue, direct and indirect taxes including and burden of taxation, Factors determining taxable capacity, public expenditure and public debt, Effect of tax public expenditure and public debt on production and employment methods of debt, repayment, Distinction between debt redemption and conversion, Fiscal policy and monetary policy, their limitations. Tax Evasion and Tax Avoidance, Fiscal policy, its role in a developing economy.
UNIT – IVDeveloped, underdeveloped and developing countries basic features and characteristics with reference to India, India’s national income during the plan period, the contribution of different sectors to national income, population problems- its impacts on economic development, unemployment & capital formation. The agricultural problem, causes of low, productivity, mechanization of Indian agriculture, the green revolution- its impact Land reforms, agricultural credit, agricultural marketing, slow growth of industries in India- causes and remedies, Industrial policy, Industrial finance- its sources. Public Sector Industries- their role and efficiency, small-scale industries, problems and remedial measures. Foreign Trade, Trades-gaps and measures of bridging them, Role of economic planning- objectives, priorities, achievements and failure in India Price Problem – causes and remedies. Poverty eradication measures adopted under Five Year Plans, nationalization of Commercial Banks- Lead Bank Scheme.

Recommended books for Economics:

1. NCERT or Microeconomics-Ahuja and Koutsyansis

2. NCERT or Macroeconomics – Ahuja and Mankiw

3. International Economics – Salvatore and M.C Vaish

4. Public Finance-Lekhi, Balton and Bhatia

5. Money and Banking-Gupta and Ahuja

6. Arthapedia (

7. Indian Economy – Mishra and Puri OR Dutt and Sundaram OR Ramesh Singh

8. Economic Survey

9. RBI Website (

10. Internet

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