Economics Optional question paper discussion thread - 2015 Mains

Hi

Let we discuss the economics optional papers here.. Please come forward and give your valuable suggestions here.
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Comments

  • :flushed:
    Maine saari duniya Ko sudhaarne ka theka le rakha hai, so don't mind if I mind your business instead of my own.
  • r u giving mains this year??
  • Plz..someone upload it first
  • can we have the question papers please. Eagerly waiting for it
  • Paper 2 had no surprises, but was very lengthy.
  • Paper 2 had no surprises, but was very lengthy.

    can you please upload the papers here so that we can have a discussion.
  • someone please upload the economics optional here
  • Here you go

    Thanks friend
  • Thanks a lot mate.
  • Paper was relatively straightforward and doable!!
  • @coolhand I'm thinking of opting economics as optional .. I have interest in it

    How much time it takes to complete syllabus ?
    And any good coaching available ?
  • No coaching required brother just self study will make it wonder.. hardly will take 3 months to complete the syllabus
  • Subject is good for those who have a background in it.. Ideally 4-5 months.. Issues with Eco - no good coaching , test series and peer group.@ABdeVilliers
  • Nope .. no background in it @coolhand

    @Desert_bird so just follow the 3 stage strategy by gaurav agrawal sir .. ?
  • Hey.....what does nash equilibrium question require....cournot or chamberlin?
  • Cournot is always in Nash eqbm and even Bertrand is. You could use any model. Chamberlin requires collusion so as far as I know it shouldn't be that.
  • 20 marks gone.... :s
  • leo_20 said:

    Cournot is always in Nash eqbm and even Bertrand is. You could use any model. Chamberlin requires collusion so as far as I know it shouldn't be that.


    I just googled ...it showed any non co-operative equilibrium is nash equilibrium...since chamberlin is also non co op ....it can be considered one....and and it just recognises interdependence ....no collusion like you said....
  • @ABdeVilliers I had taken econ without back ground...
    could not cover properly in 3 - 4 months.
    Paper 2 is doable, there will be problem in paper 1
    m thinking of dumping eco. as peer group is imp. in my opinion and it sucks for econ.
    gaurav aggarwal inspired me alot, but he was a prodigy... take at ur own risk..if u do take econ. , prepare previous year questions thoroughly.
  • kgips said:

    @ABdeVilliers I had taken econ without back ground...
    could not cover properly in 3 - 4 months.
    Paper 2 is doable, there will be problem in paper 1
    m thinking of dumping eco. as peer group is imp. in my opinion and it sucks for econ.
    gaurav aggarwal inspired me alot, but he was a prodigy... take at ur own risk..if u do take econ. , prepare previous year questions thoroughly. </block

    gaurav agarwal is no prodigy....he is as normal as us. :smile: . believe me if you give three dedicated months to economics optional ...you can DO wonders in CSE with this subject. I am no iitian like gaurav agarwal but i could attempt all 500 marks ....and according to me i did fairly well.

  • Any non-cooperative equilibrium is Nash equilibrium- when each party is doing the best it can, given what its competitor is doing. Gave prisoner dilemma example.
  • in my opinion, gaurav aggarwal was a prodigy, he cracked iit at age 16 that too when iit enterance were crazy difficult..but difference of opinion h.
    3 months is not suufficient for new comers in my opinion.
  • I answered paper 2 with a complete layman approach....will that help....this is my first attempt ..that is why a bit worried about everything. :)
  • I answered paper 2 with a complete layman approach....will that help....this is my first attempt ..that is why a bit worried about everything. :)

    Not an expert advice, but from experiences of mine and many more pals like me. Writing GS type answers in paper II optional is not expected. You should either connect that to theory, use data to support that, or may quote opinions and views of economists for good marks. Else with good GS type answer you will only able to score 110-120 (average score)
    RBI Grade B Manager
  • @madinlove that should worry me then....anyways thank you. Can you please cite an answer connecting it to a theory ...or to an economist ...that ll be of great help.... o:)
  • @madinlove that should worry me then....anyways thank you. Can you please cite an answer connecting it to a theory ...or to an economist ...that ll be of great help.... o:)

    There was a question in paper 2 on how to ensure welfare of people at the poverty line. So here you can mention Amartya Sen and his theory of basic capabilities. Thus years paper they didn't ask any question on Amrtya Sen particularly unlike last year's. So it'll be good if you can show that you can incorporate theories in your answers.
    For failure of socialist planning you can talk about failure of trickle down approach. I think it is about explaining the simple concepts using some economic jargon.
  • @coolhand I'm thinking of opting economics as optional .. I have interest in it

    How much time it takes to complete syllabus ?
    And any good coaching available ?

    Economics is a great subject but if you don't have a background in it then paper 1 can be very difficult. The past 2 years, UPSC has been asking easy but very basic questions. You need strong conceptual background. So covering those basics is more important than covering the syllabus. For paper 1 alone I would suggest that it takes at least 5 months of dedication. One month per sub topic (if you have an alright mathematics base especially calculus, otherwise it might take some more time). Start with macro then money and Banking, public finance, international economics, growth and development and finally micro. This will reinforce the subjects and bring out their complementarities. Paper 2 can be done in a month.
    There is no coaching or test series available and as @kgips mentioned the circle of aspirants isnt very big or responsive, so you will have to rely on your own resilience to practice past year papers and chapter end exercises.
    Before making the final decision do visit Gaurav Agarwals blog
  • Thank you @Jigsaw ...i think i overrated my knowledge of this subject....you people seem experienced players.... :) .Will need your help this time. o:)
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