General Awareness forms an integral part of any competitive exam. It’s an important part for aspirants of civil services and they need to have a firm grip on each aspect of GA. Broadly GA consists of Polity, History and culture, Geography, Economy, Science (Physics ,Chemistry, Biology) and other miscellaneous things. Generally students preparing for exams other than CSE neglect this section because they think that preparation of this section requires a lot of rote-learning .
But if this section is done systematically then aspirants can score well and it would also save the time for other sections. Another benefit would be during interview where this section forms the major part of discussion and is instrumental in securing good rank.
These subjects can be divided into static parts ( basic concepts) and dynamic parts (current developments). Majority of questions asked in various exams are from Indian point of view.
In this first post , I will try to concentrate on two exams which are most important ( other than CSE) i.e SSC CGL and Bank exams. Today our matter of discussion would be on “ How to prepare Economy”.
How to Prepare for Economy:
Indian Economy part of GA is important than other parts of GA because it is an important part of written exam as well as Interview. In Interview economy forms an important part of discussion and it is quiet clear that marks of interview decide our rank.
About SSC CGL
The recent trends suggest only 4-5 questions from economy are asked which varies from basic concepts to current developments. Union Budget is an important area for this exam. Being well versed in economic concepts and following the current developments will do the work.
About IBPS exams
The General Awareness section (with special reference to banking industry) contains 40 marks in total. Majority of questions are from banking sector and changes occurring in banking sector. Though the question paper focuses majorly on the banking sector, it also carries questions related to books and their authors, awards and honours, sports news, budget information, social and agricultural growth of the nation and current national and international affairs .
Questions from Finance, shares, abbreviations, national and international economy are also asked in the paper.
If concepts are clear then these questions are cake walk.
First let’s have a look at the problems faced by aspirants.
Problems faced by aspirants
- A lot of new concepts which is strange for aspirants. Majority of questions asked in any banking exam are from Banking Awareness. Aspirants face a lot of problem in these questions because their concepts in various aspects of banking awareness is not clear .
- Many students are studying economy for the very first time.
- Many books define those concepts ambiguously.
- The definitions are hard to be understood by aspirants from non economics background.
- Lack of examples especially with respect to Indian perspective.
- Keeping track of latest developments in economy ( a lot happens in this sector) is difficult and also the understanding that whether these developments are useful from exam point of view or not.
- Lack of up to date study material.
- Inability to revise at the time of exam.
What should be done
- Only memorizing the definitions would not do the work for us. we need to have clear understanding of the concepts. Try to understand the concepts by taking examples.
- The websites such as www.rbi.org.in , arthpedia.com and other reliable sources such as economic survey, budget and reports of Ministry of finance and other organisations are the authentic sources.
- Follow any business newspaper regularly ( preferably, Business standard or Business line ).
- Take down notes regularly.
- Arrange the notes as per date and topic.
- It would be better to study the newspaper online and use note making app such as Evernote etc.
- Revise the notes on each Sunday and try to condense them by combining related topics.
About the Blog
The selection of study material is very important because various materials available in market are not correct technically. But a candidate needs to prepare many other subjects so he would not be able to give time on these sources.
Don’t worry we would do the work for you.
We will start with economy which would be divided into two sections: Concepts and Current developments. Concepts definitions along with examples will help you to understand the subject matter. Without this you would not be able to grasp the matter in current developments part.
Current development part would be adopted from various newspapers and magazine and would be provided in point-wise summary format which would be beneficial for you to revise.
I will also provide the references in each article . A lot has happened in Indian economy in past one year and I expect these to be the major part of economy section in upcoming exams. Hence this section has huge relevance.
I would like to suggest that while reading any article posted in this blog, aspirants should jot down important points in their notebook so that they can revise it at the time of exams. If they are using any note making application online then its fine and there is no need of using notebook.
Revision is must otherwise all the hard work means nothing.
Therefore, leave economy section for us and you concentrate on other subjects. Just follow the blog religiously.
Consequently we can also start preparing other sections of GA.
If still you need the name of books then—-
Recommended Books
- NCERT XI :Indian Economic Development (should read)
- NCERT XII: Microeconomics & Macroeconomics
- NIOS Economy ( obviously if you have a lot of extra time)
- Daily Blog on Economy (must read)
abhijeetgautam 