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Career Library

Indian Economic Service

Summary

Indian Economic Service (IES) is an administrative inter-ministerial civil service under group A of the central civil services of the Government of India. In IES one undertakes economic analysis and render information for designing and formulating developmental policies, also monitoring and evaluating various public programs. As it is inter-ministerial therefore the IES officers serve in diverse areas such as policy making, rural developments, social sector, industry, trade etc. Apart from this, IES officers also go for deputation to serve in UN bodies, foreign government, state government etc. Recruitment is based on All India Open Competitive Examination called as IES examination, conducted by the Union Public Service Comission.

Career Opportunities in Indian Economic Services

  • Adviser
    Chief economic adviser is the ex-officio cadre controlling authority of Indian Economic Service. The CEA reports directly to the Minister of Finance and advises Government of India on matters related to finance, trade, industry etc.
  • Policy Making
    ES supports the government with Policy Making and Development in various areas like Finance, Rural Development, Urban Development, Health Sector, Agro based Sector, Education Sector etc.
  • Monitoring and Evaluation
    The budgets and policies that are laid by the Government in former years are evaluated and monitored by IES officers. There is frequent monitoring which is required to undersatnd how the Annual budget shoud be planned and if the existent policies and plans are in sync with the changing trends or not.
  • Deputation in different Departments
    Besides the above mentioned roles, IES also works as a delegate in bodies like UN, state and foreign government, central ministries and departements.

How to Pursue a Career in the Indian Economic Services

Stream Graduation After Graduation After Post Graduation
Path 1
Class XII with any stream with/without economics (Mathematics is compulsory)Pursue Bachelor of Arts in Economics/ Applied Economics/ Business Economics/ Econometrics for 3 years Pursue Masters of Arts in Economics/ Applied Economics/ Business Economics/ Econometrics for 2 years Appear for UPSC IES examination
Path 2
Class XII with any stream with/without economics (Mathematics is complusory) Pursue Bachelors of Arts in any related discipline eg- economics, statistics, Mathematics etc.Pursure Masters of arts in Economics/ Applied Economics/ Business Economics/ Econometrics for 2 years Appear for UPSC IES examination

Important Facts

  • A post graduate degree in Economics/ Applied Economics/ Business Economics/ Econometrics is required.
  • Age should be between 21 years to 30 years.

Leading Institutes

College Location Website
Presidency University Kolkata www.presiuniv.ac.in/web/economics.php
Fergusson College Pune www.fergusson.edu
University of Delhi Delhi www.du.ac.in/du
Madras Christian College Chennai www.mcc.edu.in
Banaras Hindu University Varanasi www.bhu.ac.in
Jai Hind College Mumbai www.jaihindcollege.com/aided/arts/junior-college/jr_Economics.html
St. Xavier’s College Mumbai www.xaviers.edu/main
Punjab University Punjab www.economics.puchd.ac.in
Christ University Bengaluru www.christuniversity.in
Mithibai College of Arts Mumbai www.mithibai.ac.in
University of Calcutta Calcutta www.caluniv.ac.in
Institution Location Website
Massachusetts Institute of Technology United States www.web.mit.edu
Harvard University United States www.harvard.edu
Stanford University United States www.stanford.edu
University of Cambridge United Kingdom www.cam.ac.uk
University of California, Berkeley United States www.berkeley.edu
University College London United Kingdom www.ucl.ac.uk/economics
University of Tokyo Japan www.u-tokyo.ac.jp/en
Princeton University United States www.princeton.edu
National University of Singapore Singapore www.fas.nus.edu.sg/ecs
University of Melbourne Australia www.unimelb.edu.au
Yale University United States www.economics.yale.edu

Important Entrance Exams

Undergraduate
College Tentative Date Important Elements Website
UPSC IES March-June General English General Studies General Economics-I (including two parts) General Economics-II (concept of national income and social accounting etc.) General Economics-III (Public finance, Industrial economics etc.) Indian Economics www.upsconline.nic.in

Work Description

  • Role of the service can be broadly categorized in terms of economic advice, economic administration, implementation of development policy and programmes, besides dealing with other areas such as economic reforms, regulation etc.
  • IES officers are exposed to various sectors of government functioning and they provide link and continuity in policy making.
  • Economic Advisers are required to be associated with and involved in the economic reforms in the Ministry/ Department, to which they are posted.
  • IES officers provide inputs to Departments on all policy related matters, their implementation and evaluation as well.

Pros & Cons of a Career in Indian Economic Services

Pros
  • Directly involved in policy making and implementation of the same which would use and enhance the decision making skills and sense of responsibility.
  • The prestige and perks which are attached with this job is very high and will continue with you even after retirement.
  • This job will help you put your economics related skills along with critical thinking into practicality by working for the betterment of the society.
Cons
  • Studying for the entrance exam and clearing it requires huge amount of effort and dedication with extensive in depth study of the material.
  • For IES, every year, there are limited number of openings (around 30 seats or so), however, lakhs of people apply. Thus, competition is quite high.
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