The standard of papers in General English and General Studies will be such as may be expected of a graduate of an Indian University. The standard of papers in the other subjects will be that of the Master’s degree examination of an Indian University in the relevant disciplines. The candidates will be expected to illustrate theory by facts, and to analyse problems with the help of theory. They will be expected to be particularly conversant with Indian problems in the field of Economic or Statistics.
There are four topics in the syllabus of IES General Economics Paper III - Public Finance; Environmental Economics; Industrial Economics; State, Market and Planning.
1. Public Finance: Theories of taxation: Optimal taxes and tax reforms, incidence of taxation; Theories of public expenditure: objectives and effects of public expenditure, public expenditure policy and social cost benefit analysis, criteria of public investment decisions social rate of discount, shadow prices of investment, unskilled labour and foreign exchange. Budgetary deficits. Theory of public debt management.
The cutoff is the minimum marks of last candidate recommended for appointment of the services. The IES exam has 6 papers - 4 Economics, 1 English and 1 General Studies. 20% minimum marks are required in each of the six subject papers (10% for PH candidates).