The IES 2026 examination consists of six papers – two General Studies papers and four Economics papers. The syllabus tests post-graduate level Economics comprehensively.
IES Papers at a Glance
| Paper | Subject | Marks |
|---|---|---|
| General English (Paper I) | Essay, Précis, Comprehension, Drafting | 100 |
| General Studies (Paper II) | GK, Indian Polity, Economy, History, Science, Environment | 100 |
| General Economics I (Paper III) | Micro & Macro Economics Theory | 200 |
| General Economics II (Paper IV) | Mathematical Economics, Statistics, Econometrics | 200 |
| General Economics III (Paper V) | Money, Banking, International Trade, Indian Economy | 200 |
| Indian Economics (Paper VI) | Economic History of India, Agriculture, Industry, Infrastructure, Planning | 200 |
Paper III – General Economics I (Detailed)
- Microeconomics: Consumer theory, Production & Cost, Market Structures (Perfect Competition, Monopoly, Oligopoly), Welfare Economics, Game Theory basics
- Macroeconomics: National Income, IS-LM Model, AD-AS Framework, Business Cycles, Growth Theories (Harrod-Domar, Solow), Inflation, Unemployment
Paper IV – General Economics II (Detailed)
- Mathematical Economics: Linear Algebra, Differential Calculus, Optimisation, Input-Output Analysis
- Statistics: Probability, Distributions, Sampling Theory, Hypothesis Testing, Index Numbers, Time Series
- Econometrics: OLS, Gauss-Markov Theorem, Violations of OLS assumptions, Simultaneous Equations, Panel Data basics
Paper V – General Economics III (Detailed)
- Money & Banking: Monetary System, RBI functions, Monetary Policy, Credit Creation, Financial Markets
- International Trade: Theories of Trade (HO, Ricardian), Balance of Payments, WTO, Trade Policy, IMF & World Bank
- Public Finance: Government Budget, Fiscal Policy, Public Expenditure, Taxation Theory, GST
Paper VI – Indian Economics (Detailed)
- Colonial Economic History, Land Reforms, Green Revolution
- Economic Planning in India – Five Year Plans, NITI Aayog
- Industry Policy, MSMEs, Infrastructure (Roads, Energy, Telecom)
- Poverty, Inequality, Human Development Indices
- Economic Reforms of 1991 and post-liberalisation developments