GATE Economics Preparation Strategy 2024 - Major Topics, Study Plan, Sample Paper, Best Books
If you are planning to appear in the exam and wondering about your preparation and syllabus for GATE Economics then this article is for you. Read the full piece to know more.
GATE Economics Preparation Strategy 2024 - IISC Bangalore has released the GATE 2024 Economics Syllabus on the official website. GATE has recently included two new papers: Humanities and Social Sciences (XH) and Environmental Science & Engineering (ES). For Humanities and Social Sciences (XH), there is one paper (Reasoning and Comprehensions Syllabus) that is compulsory for candidates to attend and one optional for which, they have a total of five choices. One of these five paper choices is GATE Economics (XH-C1). If you are planning to appear in the exam and wondering about your preparation and syllabus of GATE Economics then this article is for you. Candidates can check the official syllabus PDF of GATE Syllabus 2024 (XH C1) from the table below.
Latest: GATE Admit Card 2024 released at gate2024.iisc.ac.in
GATE, the abbreviation for Graduate Aptitude Test in Engineering is a national-level exam conducted not only for admission to PG courses in IISc and IITs but also for the recruitment in PSUs (Public Sector Undertakings). The examination contains a total of 24 papers. Based on one’s previous qualifications, a candidate can apply for any one of these 24 papers. Here, we will be providing you with a standard preparation plan, which can be used by everyone irrespective of their style of preparation and studying.
Also read: GATE Syllabus 2024
GATE Economics Syllabus 2024
Before we proceed with the GATE 2024 Economics preparation strategy, we must familiarize ourselves with the GATE Syllabus 2024 for Economics first. The syllabus comprises a total of six topics, which then further include different numbers of sub-topics.
Topics Included in GATE Economics Syllabus | Major Sub-topics |
Microeconomics | Theory of Consumer Behaviour, Consumer Preferences, Duality Theorem, Euler’s Theorem, The Theory of Revealed Preference, Theory of Agency Costs, perfect Bayesian Equilibria, Walrasian and Marshallian Stability Analysis, etc. |
International Economics | Theories of International Trade, Gains from Trade, International Trade under Imperfect Competition, Dumping and Anti-Dumping Policies. WTO, GATT, etc. |
Developmental Economics | Theories of Economic Development, Indicators of Economic Development, Endogenous Growth Models, Disembodied and Embodied, etc. |
Macroeconomics | National Income Accounting, Classical and Keynesian Framework, Absolute Income Hypothesis, Relative Income Hypothesis, Components of Money Supply, Theories of Inflation and Expectations, etc. |
Public Economics | Market Failure and Remedial Measures, Regulation of Market, Public Budget and Budget Multiplier, Progressive and non-Progressive Taxation, Direct and Indirect Taxes, etc. |
Indian Economy | Economic Growth in India, Functioning of Monetary Policy in India, Demonetization and Aftermath, Fiscal Policy in the Indian Context, etc. |
Statistics, Econometrics & Mathematical Economics | Central Limit Theorem, Probability Theory, Linear Regression Models and the Gauss-Markov Theorem, Multicollinearity and Autocorrelation, Heteroscedasticity, Static Optimization Problems and Applications, etc. |
GATE Economics Four-Month Preparation Plan 2024
GATE 2024 will be conducted on February 3, 4, 10 and 11, 2024. This gives you around four months to prepare for the examination. Now we are fully aware of the fact that a single timetable cannot suit everyone’s preferences. So, being mindful of that, we have prepared a GATE 2024 preparation plan which you can modify as per your style and daily schedule.
Preparation Time | 4 Months (16 Weeks) |
Total Subjects/ Topics to Prepare | 7 |
Total Sub-Topics | Over 50 |
Studying Hours Per Day | 3.5 - 4 Hours |
Number of Days Required to Prepare Each Chapter | 12 Days |
Number of Chapters Completed in a Month | 2 Chapters |
Break Days or Extra Days Each Month | 2 - 3 Days* |
Time Taken to Complete Entire Syllabus | 3 Months |
Remaining Time | One Month |
Days to Solve Sample Papers/ Model Papers/ Mock Tests | 20 Days |
Days Left for Final Revision | 10 Days |
*These extra days can be used to adjust topics that you couldn’t complete.
GATE Economics Two-Month Preparation Plan 2024
What if there are only two months remaining for GATE and you are yet to begin with your GATE Economics preparation? What would you do? How would you do it? Well, here’s how you can pull it off in just two months.
Preparation Time | 2 Months (14 Weeks) |
Total Subjects/ Topics to Prepare | 7 |
Total Sub-Topics | Over 50 |
Studying Hours Per Day | 6 - 7 Hours |
Number of Days Required to Prepare Each Chapter | 6 Days |
Number of Chapters Completed in a Month | 4.5 Chapters |
Break Days or Extra Days Each Month | 1.5 Days |
Time Taken to Complete Entire Syllabus | 1.5 Months |
Remaining Time | 15 Days |
Days to Solve Sample Papers/ Model Papers/ Mock Tests | 8 Days |
Days Left for Final Revision | 7 Days (one day for each chapter) |
GATE Economics Practice Paper
Solving sample papers for GATE preparation is a very important practice. This does not only boost up your preparation but also help you assess your level. You can make changes in your preparation strategy accordingly. You can download the paper and print it out as per your preference.
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Best Books for GATE Economics Preparation
These are some of the best book options for you to go for the preparation of GATE Economics.
GATE Economics Books | Authors/ Publishers |
UGC NET Economics | Sunder Gopal Mishra |
Micro Economics: Anna Koutsoyiannis | H.L. Ahuja |
Indian Economy | Mishra & Puri |
UGC-NET: Economics (Paper II) Exam Guide | Sanjay Kuma |
Public Finance | S.K. Singh |
Macro Economics Analysis by Edward Shapiro | H.L. Ahuja |
International Trade | Bo Sodersten |
Statistics and Econometrics | B. L. Agarwal |
Also check: GATE best books 2024
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FAQs
How can I Crack GATE 2024 Economics Paper?
Understand the exam pattern and syllabus of GATE Economics 2024. Divide each subject into weeks in accordance with this schedule, and take references from the best books of the Economics GATE course. Make notes for each and every topic during the preparation period and practice mock tests along with the previous year's question papers and sample papers of GATE Economics 2024.
Which are the best books for GATE 2024 Economics( XH-C1)?
Some of the best books for GATE 2024 Economics are GATE Economics, Microeconomics | Eighth Edition by Robert Pindyck and Daniel Rubinfeld, and Macroeconomics by H. L. Ahuja.
What is the syllabus of GATE 2024 Economics Exam?
GATE Economics Syllabus (XH-C1) 2024 comprises- Microeconomics, Macroeconomics, International Economics, Statistics, Econometrics and Mathematical Economics, Public Economics, Development Economics, and Indian Economy.