How to Prepare for GATE Economics [XH-C1] 2025 – Complete Details
How to Prepare for GATE Economics [XH-C1]: GATE Exam is conducted Once a year by IIT. Gate Economics [Code -XH-C1] Part of Optional Sections Paper XH (Humanities and Social Sciences)is One of The Important Exam of GATE, Subject Divided into 7 Chapters & Asked 40 Questions Based on MCQ, MSQ & NAT , 20 Questions Based on 1 Marks Each & Remain 20 Questions 2 Marks Each. Apart of That Reading Comprehension ( Compulsory ) Include 15 Questions Gives 25 Marks, & General Aptitude 10 Questions 5 Questions Based on 1 Marks Each & Remains 5 Question 2 Marks Each. Total 100 Marks Paper, Total 55 Questions Asked in Exam
This article will discuss the strategy, study plan, syllabus, and important books to crack the GATE Economics [XH-C1] exam in detail.
A systematic study plan could help a candidate to plan better and score more in the GATE Exam. With a correct strategy in mind, we bring you the GATE study plan Design by our experts to assist you in your preparation.
- With the syllabus of the GATE Economics [XH-C1] getting generic from specific, the scope of each topic in the subject has diversified. As compared to earlier, the present syllabus Include Topics Like – Microeconomics, Macro Economics, Statistics, Econometrics and Mathematical Economics etc Syllabus is Lengthy & Paper Level is Moderate to Hard
- It’s quite interesting because GATE aims to test your Economics knowledge . to include Many Topics in Each Unit ,Total 7 Units Given in GATE Economics Syllabus In Each Unit Given More then 60+ Topics & Each Topic is Important
- You are not just required to carry bookish knowledge. Still, You Must Have a Proper Study Plan which we Suggest you Below You Can also take Idea About your Customize Study Plan
- To be more clear on the updated syllabus, visit the link.
How to Prepare for GATE Economics?
1. Previous Year Paper Analysis:
- After introducing the new pattern of the exam and the new syllabus, GATE has conducted the exam only Once.
- One of the important observations drawn from the updated syllabus is that GATE wishes to test more than your objective knowledge. The questions asked lately aim to check your critical reasoning skills rather than rote learning.
- So, one thing is clear, having completed your bachelor’s degree in the subject, you are expected to have developed a sound critical reasoning skill to analyze a particular text, even those which are quite subjective in approach.
- As Per GATE Economics Exam 2024 the Focus Moreover on Units like Macro Economics,Statistics, Econometrics, Public Economics , Indian Economy. To get a clearer picture, you can check the papers for GATE 2024.
Takeaways from the current trend of question papers:
- Diversify your scope of the study.
- Cover all 7 Units extensively.
- Also Focus on Reading Comprehension & General Aptitude .
- Get through with the topics of Each Units Focus on International Economics,Development Economics Topics As Well.
- Please acquaint yourself with the significant Tax reforms-Goods and Services,Public Revenue: Tax & Non-Tax Revenue,Theories of International Trade,Statistical Inferences, Hypothesis Testing & More
- Applications, Linear Algebra – Matrices, Applications of Cramer’s Rule, Static Optimization,National Income Accounting: Closed Economy Concepts and Measurement it forms a strong base for your preparation.
2. Strategy for GATE Economics [XH-C1]
Devoting a minimum of 4 to 5 hours to preparation would give you the best results. In the preparatory timeline, you are at a stage where you could familiarize yourself with all the important topics, make notes, and start several new topics. Also, during this phase, the candidates should put up to themselves with important tips to utilize their time efficiently and study resources. Let us go through some of the major thumb rules, which, when followed, would boost your chances of qualifying for the GATE Economics [XH-C1] exam.
- Make yourself aware of the mode of the examination as well as the GATE Exam pattern.
- Go through the entire syllabus thoroughly. Know what needs to be left out. It’s important because when it comes to qualifying for an exam, you ought to know what not to study and focus more on what needs to be studied.
- Practice previous year’s question papers. These papers would give you an idea about the types of questions asked, the study’s scope, and the types of questions GATE tends to ask.
- Depending upon your interest and retaining skill, allocate time according to the topic.
- Find out the best resources i.e., books and online materials.
- Prepare short and crisp notes of all topics covering all the necessary points. For Economics, you could create charts under each unit and list down all the Points.
- Revise every topic that you have studied on Weekend. The candidate should revise only after completing a particular topic, but it should be timed regularly throughout your preparation.
- Attempt mock tests to analyze your performance and acknowledge your limitations are; given that the mode of examination has changed to online, attempt online mock tests.
- Prepare smart strategies to attempt questions. For instance, the process of elimination works very well in attempting a lot of questions in Economics Do Unit wise Practice of Questions .
- Last, but not least, do not ignore your General Aptitude, give you 40 Marks Weightage
Important Books for GATE Economics [XH-C1]
GATE Economics Books | Authors/ Publishers |
UGC NET Economics | Arihant |
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 |
Note- Most of the books or study materials available in the market are quite heavy on the pocket. Hence, go for smart work. Taking your syllabus as a reference, you can make notes from the material available online. The academic knowledge you already possess will also help while making notes.
4. 4-Month Study Plan for Economics [XH-C1] Exam
A sound strategy and smart work are required to pass the GATE Exam. For passing this exam, you have to make a strategy that would work the best for you. To help you for making a strategy, we are sharing the 4-month study plan, distributed week-wise, for the upcoming GATE Economics [XH-C1].
Weeks | Topics that need to be covered (including Revision of that topic at the end of the week) | |
Units | Sub Topics | |
Week 1 (Day 1-7) | General topics | Expression – questions on stylistic and rhetorical aspects of a short passage including corrections or modifications of particular sentences. • Analytical reasoning – ability to understand relationships in statements or short passages and being able to draw reasonable conclusions/inferences from them. • Logical reasoning – Thinking critically to evaluate or to predict an argument, identify the main and supporting arguments, predict outcomes etc. |
Week 2 (Day 8-14) | Chapter -1 : Micro Economics | Revealed Preference, Theory of Production and Costs: Short-run and Long-run Analysis, Existence, Uniqueness and Stability of Market Equilibrium: Walrasian and Marshallian Stability Analysis. The Cobweb Model, Decision making under uncertainty and risk. Asymmetric Information: Adverse Selection and Moral Hazard. Theory of Agency costs. The Theory of Search, Non-Cooperative games: Constant sum game, Mixed Strategy & |
Week 3 (Day 15-21) | Chapter 2: Macro Economics | Hypothesis and Robert Hall’s Random Walk Model; Investment Function Specifications – Dale Jorgenson’s Neoclassical Theory of Capital Accumulation and Tobin’s, Keynesian Stabilization Policies, (Autonomous) Multipliers and Investment Accelerator, Demand and Supply of Money |
Week 4 (Day 22-28) | Chapter- 3 : Statistics, Econometrics and Mathematical Economics: | Applications, Linear Algebra – Matrices, Applications of Cramer’s Rule, Static Optimization Problems and Applications, Input-Output Model, Linear Programming, Difference |
Week 5 (Day 8-14) | Chapters-4 : International Economics | Regional Trade Blocks; Trade Policy Issues, Balance of Payments: Composition |
Week 6 (Day 8-14) | Chapters-5 : Public Economics | non-Progressive Taxation, Incidence and Effects of Taxation, Public expenditure, Solve Previous Year Papers (2 Days) |
Week 7 (Day 8-14) | Chapters-6 : Development Economics | Demographic Dividend, Models of Economic Growth: Harrod-Domar, Solow, Ramsey, |
Week 8 (Day 8-14) | Chapters -7 : Indian Economy | Tax, Issues of Growth and Equity, Fiscal Federalism, Centre-State Financial Relations and Finance Commissions of India; Sustainability of Deficits and Debt, The Fiscal Revise Unit II (1 Day) |
Week 9 (Day 8-14) | Revise Unit -1 Complete | Practice Question Answer Based on Unit -1 |
Week 10 (Day 8-14) | Revise Unit -2 Complete | Practice Question Answer Based on Unit -2 |
Week 11 (Day 8-14) | Revise Unit -3 Complete | Practice Question Answer Based on Unit -3 |
Week 12 (Day 8-14) | Revise Unit -4 Complete | Practice Question Answer Based on Unit -4 |
Week 13 (Day 8-14) | Revise Unit -5 Complete | Practice Question Answer Based on Unit -5 |
Week 14 (Day 8-14) | Revise Unit -6 Complete | Practice Question Answer Based on Unit -6 |
Week 15 (Day 8-14) | Revise Unit -7 Complete | Practice Question Answer Based on Unit -7 |
Week 16 (Day 8-14) | Practice NAT Based Questions Answer of Unit 3 | Practice Question Answer Based on Unit -3 Numerical Question Answer |
This study plan, if followed thoroughly, will organize your routine and boost up your exam preparation. This is, however, a Suggested study plan, you can make one that suits you the best.
Hence, to score better, start your preparation now and crack GATE Exam 2024 with good scores.
All the best for your exams,
GATE Economics Syllabus | GATE Economics Eligiblity Criteria |
GATE Economics Books | GATE Economics Career Scope |