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.

Outlines

00:00

📚 Recommended Books and Strategy for RBI Exam Preparation

This paragraph discusses the importance of focusing on completing topics rather than just reading through prescribed books for the RBI examination. It suggests that candidates should continue with their current study materials and then skim through the books suggested by RBI to ensure nothing is missed. It emphasizes the strategy of mastering the subject matter over merely completing the books. Specific books are recommended for various subjects, such as Varian for microeconomics, Mankiw for macroeconomics, and Salvatore for international economics, among others. The paragraph also mentions the importance of staying updated with current economic trends and reports, such as the Economic Survey and Union Budget.

05:00

📘 Comprehensive Guide to RBI Exam Study Materials

The second paragraph provides a detailed guide on the study materials for the RBI exam, including books for specific economic topics and additional resources like the Economic Survey and Union Budget. It advises on the use of various books for different economic models and theories, such as Devraj for growth models and Musgrave for public finance theories. The paragraph also covers the importance of practicing mathematical methods in economics and econometrics, recommending specific books like those by设计师 and Bloom for practice questions. It concludes with advice on using mock tests and previous question discussions available on the channel for better exam preparation.

10:02

📞 Additional Resources and Contact Information

The final paragraph, although not containing substantial content, implies the availability of further assistance for exam preparation. It suggests that there are additional resources such as a memory-based paper and a preparation guide that can be accessed through the video description. It also provides a contact number and email for those who have queries regarding the exam, ensuring that candidates have support throughout their preparation journey.

Keywords

💡Subscribe

The term 'subscribe' refers to the act of signing up to receive updates or content from a channel, in this case, a YouTube channel. It is related to the video's theme as it is a call to action for viewers to stay informed about upcoming videos. The script mentions subscribing to ensure viewers do not miss any content, emphasizing the importance of staying updated with the channel's offerings.

💡Bell icon

The 'Bell icon' is a notification feature on platforms like YouTube, which, when activated, alerts the user to new content from subscribed channels. In the script, it is mentioned as a way for viewers to receive updates on new videos, which is crucial for those preparing for exams who rely on the channel for educational content.

💡RBI

RBI stands for the Reserve Bank of India, which is the central banking institution of India. In the context of the video, it refers to the authoritative body that prescribes books and reading materials for examinations related to banking and finance. The script discusses the importance of referring to books suggested by RBI for exam preparation.

💡Microeconomics

Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions and the resulting market outcomes. The script mentions it in the context of recommended books for exam preparation, such as 'Varian' for consumer theory, indicating its significance in the exam syllabus.

💡Macroeconomics

Macroeconomics is the study of the economy as a whole, focusing on large-scale economic phenomena such as national income, output, and employment. The script refers to it when discussing the recommended books for exam preparation, emphasizing the importance of understanding broad economic concepts.

💡International Economics

International Economics deals with economic transactions and relations between countries, including trade, finance, and globalization. The script mentions 'Salvatore' as a recommended book for this topic, indicating its relevance in the exam and the need for students to be familiar with global economic issues.

💡Public Finance

Public Finance is the study of government revenue and expenditure, focusing on taxation, public spending, and fiscal policy. The script discusses 'Musgrave and Stiglitz' as key books for this subject, showing its importance in understanding government fiscal activities.

💡Economic Growth and Development

Economic Growth and Development refers to the increase in an economy's output and standards of living over time. The script mentions 'Dev Raj' as a book that covers various models of economic growth, which is essential for understanding the dynamics of economic progress.

💡Mathematical Methods in Economics

Mathematical Methods in Economics involve the application of mathematical tools to analyze economic theories and data. The script recommends 'Dornbusch and Fischer' as a book for practice, highlighting the need for students to be proficient in quantitative analysis in economics.

💡Econometrics

Econometrics is the application of statistical methods to economic data, allowing for the testing of economic theories and the estimation of economic relationships. The script mentions 'Gujarati' as a recommended book for basic econometrics, indicating its importance in the quantitative analysis of economic phenomena.

💡Indian Economy

The term 'Indian Economy' refers to the economic system of India, including its structure, policies, and performance. The script advises students to refer to the Economic Survey and Union Budget as important documents for understanding the Indian economy, which is crucial for exam preparation.

Highlights

Subscribe to the channel and press the Bell icon to receive notifications for upcoming videos.

The video discusses recommended books for the RBI exam, emphasizing sticking to the suggested books or continuing with the ones you have been using.

The exam is scheduled for July 16th with phase one and phase two on September 2, featuring four papers.

A detailed reading list has been released for the examination, prompting the question of whether to stick to the prescribed books or refer to others.

The speaker recommends focusing on completing topics rather than books to excel in competitive exams.

Students can clear the exam without going through every prescribed book, by focusing on topics and skimming through books for completeness.

For Microeconomics, Varian is recommended for Consumer Theory and is also prescribed at Delhi University.

Hal Varian and Nicholson books are suggested for Producers' problems, with Nicholson being more mathematical.

Macroeconomics preparation should include books by Mankiw and Bhagwati, which are prescribed by Delhi University.

Salvatore's book is recommended for International Economics, with Goodman as an alternative.

Public Finance preparation should include Musgrave and Stiglitz's books, focusing on theories of public expenditure.

Economic Growth and Development can be studied using M.L. Jhingan, which concisely describes different theories.

Devraj Ray's book is recommended for a detailed study of economic models like the Harrod-Domar model.

Mathematical Methods in Economics can be studied using Deser and Bloom for practice questions, and AC Chang for advanced topics.

For Econometrics, Gujarati's 'Basic Econometrics' is recommended, with the 'Essentials' version also being a good choice.

Statistics preparation should include solving questions from SC Gupta, which provides ample practice.

The Indian Economy can be studied using the Economic Survey, Union Budget, and RBI reports, which are crucial documents for the exam.

Mock tests and previous questions are available on the website to help understand the examination format and practice.

A memory-based paper and preparation guide are available for download to assist with exam preparation.

Contact information is provided for any further queries regarding the exam.

Transcripts

you can subscribe to the channel and

press the Bell icon if you do not want

to miss any upcoming videos

um so in this video I am going to

discuss about the books that you really

need to refer you may need to refer the

book suggested by RBI stick to them or

you can continue resting the books that

you have uh so far been doing for this

examination we want to visit what should

because this time uh the exam is on July

16th phase one and phase two will be

held on September 2. next and there will

be four papers now this time we have

released a detailed uh reading list

reading material for you to refer for

the examination so should you only stick

to those books or you can refer other

books as well this is the major question

a lot of you have been asking now I

would always recommend and I like I

always I say your focus should be on

completing the topics and not the books

this is the best strategy to Ace any

competitive examination okay books are

prescribed everywhere in most of the

examination in RBA 10 rewards so that

doesn't mean that you every student goes

through each and every book that is

prescribed by the board in order to

clear the examination there I have these

students who can still clear the

examination without referring all the

goods in from cover to cover all you

need to do is that you can go on

continue recording the books that you

have so far been doing and the next step

would be once you cover that particular

topic is skim through these books

irrespective books that have been

prescribed by RBI in order to check that

you haven't missed anything

if that should be the strategies and

this is that issue in order to clear it

I'll go one by one so for microeconomics

as I also always recommend that Varian

is very good for Consumer theory part

and this is also prescribed at Delhi

University for consumers property for

producers problems Hydra and Nicholson

is uh prescribed and this Snyder

Nicholson is more of a mathematical kind

of a book in nature but even if you

haven't been studying for this even if

you have one particular book that has

been that is still fine and you've done

the workouts thing you are already in a

good stage for your examination in other

books that written here is

what you can do is you can complete the

topics from this book and let's jump

through the topics uh from these two

books to see if you haven't missed

anything Dutch people strategy and then

you'll be in a good position to write

the examination then for macro notes all

these two books for sure and Oliver

Branch are these are prescribed by Delhi

University version is a very good books

but even if you have been covering your

topics from fraud or HLA then also it's

fine because

it has covered

national income topics in uh very much

detail and foreign

[Music]

how classicals came and

after that calculations and the

different schools of thought came into

being one after the 14 of thought

what changes were seen and what were the

drawbacks in each of us to the thought

and how they evolved all of this is very

well explained in this book the

international economics we always

recommend salvators Agro is the best

book to cover this but groupmen is also

one of one good book if you don't like

Salvatore it's fine you can refer

Bookman and then come back to Salvatore

to stream through the topics in case you

missed anything Public Finance yes he's

Musgrave and Musgrave and

stiglids these are two very very good

books Musgraves you can again what you

can do here is you can do the theories

of public expenditure and everything

from one of the books and skip to the

other two so that you do not have uh I

haven't released you know earlier Public

Finance a lot of questions from current

uh Union budget and all of these were

asked under this topic now this time we

have also mentioned the theories that

they are able to test you on so yes you

can have a look at this

in one of the books and prepare well you

can refer your the book that you are

most comfortable with and they'll come

back to these prescribed books and to

see if you have missed any important

topic

and growth and development yes a lot of

people refer ml jhengan because it has

described different theories in just two

to three pages that is still fine but

devraj Ray is very good if you want to

read the Harry Doman model this

all these models are very well described

in devraj the Harris model also so after

completing this um

even if you can't pick up these other

two books I would definitely ask you to

have a look at Deep rajas to see these

different models

then mathematical methods in economics

designer and Bloom this particular book

has a lot of questions for

you to practice

on the questions uh practice because

this will give you a lot of uh back

questions that you can practice and yes

AC Chang uh is one good book that is

also prescribed in Delhi University and

uh another book that is described with

later and have so most people have

visited and have it but even if you

haven't uh referred situation

environment you can cover the topics

from the floor

this is a very more advanced level book

for econometrics for basic econometrics

um Gujarati is the best book is that

Essentials of economy has two versions

one is the basic and the other is the

essentials you can have a look at the

essential uh version also because this

is written together by Gujarati in water

and

so mostly the things that are saying if

you've covered basic then after you are

at a good stage in your preparation

right then statistics

that RBA has prescribed but if you have

been solving questions from receipt then

also it is fine it's important to have a

strong hold on different topics rather

than have a stronghold on the different

books prescribed again I'm reiterating

the same thing so because SC Gupta gives

you a lot of questions to practice so

this is again uh still

um fine the Indian economy these are the

things that RBI has listed economic

survey as you've already been covering

have already been uh covering the union

budget is a very too important

documents that you must go through and

RBI reports is also uh generally asked

in the past examination or the financial

stability report monitor policy reports

anyway have to do uh through these uh

things so again there's nothing much

additional that you have to do just that

now you have listed down these things

for you so now once they listed down it

becomes are too much for anybody who

sees it at a first glance but now if you

dive into deeper you will realize that

it's almost the same nothing much that

they have uh added

then also it's fine you can skim through

the pages of Uma caterpillar to see if

you haven't missed anything but we're

trying to use also very good for you

know Indian egg and India development

report

okay this will give you various Trends

in the Indian economy in the development

of assignment which you can also have a

idea from it you can pick survey too so

accordingly you need to strategize your

preparation try to focus on finishing

the central topics and not the books

that should be the main rule that if a

question comes let's say from

agriculture or let's say from services

do I have enough material to write and

answer whatever kind of questions come

from these two sectors do I know any

sectors in and out the development brand

the data how the growth spreads

everything

so that should reports

you can have a look at the mock test on

our website also to get an idea with

examination

and in the same playlist you will find

various previous question is discussed

and various important topics also

discuss you can download the memory

based paper from the description video

and also the preparation guide is also

available if you have curated to

preparation guide for your upcoming

please you can have a look at that from

the description also

and you can check out the course if you

like to if you have any other queries

regarding this exam you can call us on

this number or you can email us thank

you