RBI Grade B DEPR 2023 | Do you only refer to the books suggested by RBI ? | By Aditi Agrawal

Summary

This video script advises students on the best strategy for competitive exams, emphasizing completing topics over books. It recommends specific books for various subjects like Microeconomics, Macroeconomics, International Economics, Public Finance, and Econometrics, suggesting students review prescribed books by RBI to ensure no topics are missed. It also highlights the importance of understanding the Indian economy through documents like the Economic Survey, Union Budget, and RBI reports, and encourages using mock tests and previous questions for practice.

Takeaways

• 📚 Focus on completing topics rather than just finishing books to excel in competitive exams.
• 📅 The exam is scheduled for July 16th for phase one and September 2nd for phase two, with four papers in total.
• 📚 A detailed reading list has been released for the examination, but it's not mandatory to stick only to those books.
• 📘 For Microeconomics, Varian is recommended for Consumer theory, and Nicholson is more mathematically inclined.
• 📘 For Macroeconomics, Mankiw and Bhagwati are good choices, but covering topics from other sources is also acceptable.
• 📘 Salvatore's book is highly recommended for International Economics, but if preferred, one can use Krugman as an alternative.
• 📘 Musgrave and Stiglitz are suggested for Public Finance, but one can also refer to other books for a comprehensive understanding.
• 📘 For Growth and Development, Devraj Ray is excellent for understanding models, but other sources like ML Jhingan are also acceptable.
• 📘 Mathematical Methods in Economics by Deseran and Bloom is great for practice, and AC Chang is another recommended book.
• 📘 For Econometrics, Gujarati's 'Basic Econometrics' is a solid choice, and the 'Essentials' version is also a good option.
• 📘 For Statistics, solving questions from SC Gupta is beneficial, and a strong grasp of the subject is more important than the book itself.
• 📘 The Indian Economy section includes important documents like the Economic Survey, Union Budget, and RBI reports, which should be thoroughly reviewed.

Q & A

What is the main strategy suggested for preparing for the RBI examination?

The main strategy suggested is to focus on completing the topics rather than the books. This is considered the best approach to excel in any competitive examination.

What should be the approach if a student has been using books other than those prescribed by RBI?

Students can continue using the books they have been studying and then skim through the prescribed books by RBI to ensure they haven't missed any important topics.

Which book is recommended for the Consumer theory part in Microeconomics?

Varian is recommended for the Consumer theory part, as it is also prescribed at Delhi University.

How should a student approach the study of International Economics for the RBI examination?

Salvatore's book is highly recommended, but if a student prefers, they can refer to Bookman and then go back to Salvatore to check for any missed topics.

What are the recommended books for Public Finance in the RBI examination preparation?

Musgrave and Musgrave and Stiglitz are the two very good books recommended for Public Finance. Students can study theories from one and then refer to the other to ensure no important topics are missed.

What is the significance of the Economic Survey, Union Budget, and RBI reports in the context of the Indian Economy section?

These documents are very important as they provide insights into various trends and developments in the Indian economy and are often referred to in past examinations.

What is the recommended approach for studying Mathematical Methods in Economics?

Designer and Bloom's book is recommended for its practice questions, and AC Chang's book, which is prescribed in Delhi University, can also be used for a more advanced study.

How should a student prepare for Econometrics given the two versions of 'Essentials of Econometrics' by Gujarati?

If a student has covered the basic version, they are in a good stage of preparation. Alternatively, they can look at the essential version for a more concise study.

What is the importance of Statistics in the RBI examination preparation?

SC Gupta's book is recommended for its practice questions, and if a student has been solving questions from it, they are well-prepared. A strong hold on different topics is emphasized over the number of books.

What additional resources are available for students preparing for the RBI examination?

Mock tests, previous question discussions, and important topics are available on the provided website. Students can also download a memory-based paper and a preparation guide from the description of the video.

How can students get in touch for further queries regarding the RBI examination?

Students can call the provided number or email for any other queries regarding the exam.