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December 02, 2021
INDIAN ECONOMIC SERVICES : REVEALED PREFERENCE THEORY
INDIAN ECONOMIC SERVICES : REVEALED PREFERENCE THEORY

Revealed Preference Theory (IES 2019) Topic Discussed Revealed Preference Theory Assumption The principle of Revealed Preference Weak Axiom of Revealed Preference Past Year Questions Discussed Q 2 (c) IES 2019 An individual buys two goods X and Y at prices Px and Py. Check whether her behavior satisfies the Weak Axiom of Revealed Preference, given the following information: When (Px , Py) = (1, 2), (X, Y) = (1, 2) When (Px, Py) = (2, 1), (X, Y) = (2, 1) Elasticity of Demand and its relation with the Slope of Demand Curve (IES 2011, 2015, 2017, 2019) Topic Discussed Elasticity of Demand and Supply Price Elasticity of Demand Arc Elasticity Problems in using Arc Elasticity Point Elasticity of Linear Demand Curve Constant Elasticity Demand Curves Elasticity of Demand Curves Parallel to each other Elasticity of two intersecting Demand Curves Elasticity with Different Slopes of Demand Curves Past Year Questions Discussed Q 2(a) IES 2017 How can you measure the price elasticity of demand at any point on a straight line demand curve? Q 2(b) IES 2017 Compare between price elasticity at a given price and also at a given quantity for a set of parallel demand functions. Q 3...

December 02, 2021
INDIAN ECONOMIC SERVICES (IES) EXAM, PAPER 1 : YEARWISE ANALYSIS
INDIAN ECONOMIC SERVICES (IES) EXAM, PAPER 1 : YEARWISE ANALYSIS

Hello guys. Today I will be presenting past year questions which appeared in Indian Economic Services (IES) Exam from 2009-2016, together with their marks distribution. This will give you some broad idea, about the kind of questions asked, which topics you have to prepare, is there any trend in the type of questions and how important are numericals in this exam. Let us start with the broadest view of Paper 1, in terms of what is the proportion of marks for various topics in Paper 1, Indian Economic Services (IES) Exam. Apart from 2010 and 2014, in all other years, paper was not well distributed. It has always tilted more towards one of the topic, for instance, Consumer theory in 2011, 2012 and 2013; Theory of Value, with whooping 51% in 2015 and Statistics and Econometrics in 2016 Consumer Theory and Theory of Value are most important, as is evidenced from the fact, that in no year from 2010 to 2016, their combined weightage is less than 37%. In 2012, their combined weightage is about 70%. Apart from 2012 and 2013, Part B i.e. Stats/Econometrics and Maths, carry a weight within the range of 27% to 47% Theory of Distribution and...

December 02, 2021
HOW TO PREPARE IES (INDIAN ECONOMIC SERVICES) EXAM, PAPER 1?
HOW TO PREPARE IES (INDIAN ECONOMIC SERVICES) EXAM, PAPER 1?

This article talks about how to prepare for Indian Economics Services Exam, Paper 1. In my view, Paper 1 is most scoring, as it contains a sizeable portion of numericals. Here, I have given list of books and articles, which could be refrerred for every topic and sub-topic in the syllabus. Guys, Paper 1, in Indian Economic Services consists of broadly three topics : Microeconomic Theory Mathematics for Economics Econometrics and Statistics Micro consists of broadly 3/4th of syllabus of Paper 1. It needs to be done in sufficient detail, needless to mention that. In Micro, there are broadly five topics on which any aspirant is judged. Consumer Choice Production and Costs Theory of Value Distribution Theory Welfare Economics Consumer Theory For Consumer Theory, Hal Varian Chapters 2-13 can be used. These topics have been dealt accordingly in Varian. They have asked normally 4-5 questions based on consumer theory in almost every year, 2009 onwards. Please make some preparation of numericals too, as examiners have been inclined in recent years towards simple application based numericals. For Numericals, you can use, Varian Workbook. That is a good source for numericals. At least do (0) and (1) level problems from Varian Workbook....

December 02, 2021
HOW TO PREPARE IES (INDIAN ECONOMIC SERVICES) EXAM, PAPER 1?
HOW TO PREPARE IES (INDIAN ECONOMIC SERVICES) EXAM, PAPER 1?

This article talks about how to prepare for Indian Economics Services Exam, Paper 1. In my view, Paper 1 is most scoring, as it contains a sizeable portion of numericals. Here, I have given list of books and articles, which could be refrerred for every topic and sub-topic in the syllabus. Guys, Paper 1, in Indian Economic Services consists of broadly three topics : Microeconomic Theory Mathematics for Economics Econometrics and Statistics Micro consists of broadly 3/4th of syllabus of Paper 1. It needs to be done in sufficient detail, needless to mention that. In Micro, there are broadly five topics on which any aspirant is judged. Consumer Choice Production and Costs Theory of Value Distribution Theory Welfare Economics Consumer Theory For Consumer Theory, Hal Varian Chapters 2-13 can be used. These topics have been dealt accordingly in Varian. They have asked normally 4-5 questions based on consumer theory in almost every year, 2009 onwards. Please make some preparation of numericals too, as examiners have been inclined in recent years towards simple application based numericals. For Numericals, you can use, Varian Workbook. That is a good source for numericals. At least do (0) and (1) level problems from Varian Workbook....