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Crack the Kerala PSC Exam: Mastering Economics & The Power of Mock Tests

PSC BOOK

The Kerala Public Service Commission (KPSC) examination is a gateway to a stable and respected career in government service. For aspirants, a well-rounded preparation strategy is key, and Economics is a subject that can significantly boost your score. With the right approach, you can master this subject and confidently face the exam.

This guide will walk you through the most frequently asked questions in Economics, a winning strategy to crack the PSC exam, and the undeniable importance of mock tests in your preparation journey.



ECONOMICS PART 2

📘 സമ്പദ് വ്യവസ്ഥയും ആസൂത്രണവും - ക്വിസ് 2

Kerala PSC: Repeated Questions & Key Areas in Economics

Over the years, the Kerala PSC has shown a pattern of asking questions from certain core areas of Economics. By focusing on these topics, you can cover a significant portion of the syllabus effectively.

  • Fathers of Economics: Be thorough with the founding figures.
  • Father of Economics: Adam Smith
  • Father of Modern Economics: Adam Smith
  • Father of Indian Economics: Dadabhai Naoroji
  • Father of Macroeconomics: J. M. Keynes
  • Father of Indian Statistics & Indian Budget: P. C. Mahalanobis

Key Economic Theories:

  • Drain Theory: Proposed by Dadabhai Naoroji, explaining how British policies drained wealth from India.
  • Laissez-faire Theory: Advocated by Adam Smith, suggesting minimal government interference in the economy.
  • Landmark Books & Authors:
  • 'The Wealth of Nations': Adam Smith
  • 'Das Kapital': Karl Marx
  • 'Poverty and Un-British Rule in India': Dadabhai Naoroji
  • National Income:
  • First person to estimate National Income in India: Dadabhai Naoroji.
  • First person to scientifically estimate National Income: Dr. V. K. R. V. Rao.
  • Official Agency for National Income Estimation: Central Statistical Organisation (CSO), now known as the National Statistical Office (NSO).
  • Financial Year in India: April 1st to March 31st.

Planning in India:

  • Five-Year Plans: Know the objectives, duration, and key achievements of each plan.
  • NITI Aayog: Understand its structure and functions as the successor to the Planning Commission.

Banking and Finance:

  • Reserve Bank of India (RBI): Its establishment, functions, and role in controlling monetary policy.
  • Nationalization of Banks: The years and impact.
  • Budget and Taxation: Basic concepts of the Union Budget, types of taxes (Direct and Indirect), and the Goods and Services Tax (GST).
  • Human Development Index (HDI): Keep an eye on India's latest rank in the annual Human Development Report. As per the provided document, the rank for 2023-24 is 134.

How to Crack the Kerala PSC Exam: A Winning Strategy

ആധുനിക സാമ്പത്തിക ശാസ്ത്രം ക്വിസ്

📘 ആധുനിക സാമ്പത്തിക ശാസ്ത്രം - ക്വിസ്

A smart approach is more effective than just hard work. Here’s a strategy to guide your preparation:

Understand the Syllabus Thoroughly: This is the most crucial first step. Download the latest syllabus and analyze the weightage given to each subject. This will help you prioritize your studies.

Create a Realistic Study Plan: Design a timetable that covers all subjects. Allocate more time to your weaker areas but ensure you revise your strong subjects regularly. Consistency is key.

Master SCERT/NCERT Textbooks: A large portion of PSC questions are directly sourced from school textbooks (Standards 5 to 12). Reading these books, especially for Social Science and General Science, will build a strong foundation.

Solve Previous Year Question Papers (PYQs): Analyzing PYQs helps you understand the exam pattern, question types, and difficulty level. It's also the best way to practice time management.

Stay Updated with Current Affairs: Read a newspaper (like The Hindu or a standard Malayalam daily) and a monthly current affairs magazine. Make notes of important national, state, and international events, especially those related to the economy, new government schemes, and awards.

The Unbeatable Importance of Mock Tests

Simply studying is not enough; you must test your knowledge. This is where mock tests play a vital role.

Time Management: Mock tests simulate the real exam environment, training you to answer questions within the stipulated time. This helps you develop a strategy for allocating time to each section.

Familiarity with the Exam: Taking regular tests reduces exam anxiety and builds confidence, making you feel more comfortable and focused during the actual examination.

Identifying Weaknesses: Mock tests are diagnostic tools. They highlight the topics and subjects where you are weak, allowing you to focus your efforts on improving those areas before the final exam.

Boosting Confidence: As you take more tests and see your scores improve, your confidence will naturally grow. This positive mindset is crucial for success.

Ensuring Complete Revision: A full-length mock test forces you to recall information from the entire syllabus, serving as an excellent tool for comprehensive revision.

By combining focused study of key economic topics, a disciplined preparation strategy, and regular practice with mock tests, you can significantly enhance your chances of securing a top rank in the Kerala PSC examination.

All the best for your preparation

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