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GATE Economics Preparation Strategy 2023 - Major Topics, Study Plan, Sample Paper, Best Books

Diksha Nautiyal
Diksha NautiyalUpdated On: August 22, 2022 02:28 pm IST | GATE

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 2022

GATE, 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 qualification, a candidate can apply for any one of these 24 papers. 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. 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. 

GATE Economics Syllabus 2023

Before we move towards the preparation strategy, we must get ourselves acquainted with the syllabus of GATE 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,  Walrasian and Marshallian Stability Analysis,  Theory of Agency costs, rfect Bayesian Equilibria, 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.  

Check out the Full Syllabus of GATE Economics 2023

GATE Economics Four-Month Preparation Plan 2023

GATE 2023 will be conducted on February 4, 5, 11 and 12, 2023. This gives you around four months to prepare for the examination. Now we are fully aware of the fact that a single time-table cannot suit everyone’s preference. So, being mindful of that, we have prepared  a GATE 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 2023

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. 

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 2023

Top Engineering Colleges in India

Here is a list of top private Engineering colleges in India. If you want to grab admission in these colleges, fill out the CAF (Common Application Form) present on CollegeDekho. With this, you admission process will become easier through expert assistance. 

Manipal Institute of Technology, Manipal

PSG College of Technology, Coimbatore

VR Siddhartha College of Engineering, Vijayawada

BMS Institute of Technology and Management, Bangalore

Amity School of Engineering, Noida

Hindustan Institute of Technology and Science, Chennai

Andhra Loyola Institute of Engineering and Technology, Vijayawada

Ramaiah Institute of Technology, Bangalore

To find out region-wise Engineering colleges in India, click on the links given below: 

To know more about GATE Economics, stay tuned to CollegeDekho.

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