Cracking the Reserve Bank of India (RBI) prestigious Department of Economic and Policy Research (DEPR) exam is a dream for many economics postgraduates and PhD holders. However, given the extensive RBI DEPR Syllabus, which blends high-level economics with Indian financial sector knowledge, aspirants often find themselves overwhelmed by the sheer volume of material to cover. To streamline your preparation and focus on conceptual clarity, you need a definitive guide to the best resources. In this post, we provide the ultimate RBI DEPR Booklist, curated to help you master every topic in the syllabus, ensuring you have the right tools to conquer this highly competitive RBI DEPR Exam.
In the RBI DEPR official notifications of 2024 and 2023, RBI had specified an (non-exhaustive) booklist to prepare the topics covered under RBI DEPR Syllabus.
RBI DEPR Phase – II (Paper I – Micro and Macroeconomics Modules)
Microeconomics Booklist
- Hal R. Varian; Intermediate Microeconomics: A Modern Approach, 9th edition, 2019. The workbook, Workouts in Intermediate Microeconomics, by Hal R. Varian and Theodore C. Bergstrom may be used for problems
- Koutsoyiannis; Modern Microeconomics, International Edition
- E. Ferguson and J.P. Gould; Microeconomic Theory
Macroeconomics Booklist
- Dornbusch, Fischer and Startz; Macroeconomics, McGraw Hill, 13th edition, 2018
- Olivier Blanchard; Macroeconomics, Pearson Education, Inc., 8th edition, 2021
Brian Snowdon and Howard R. Vane; Modern Macroeconomics: Its Origin, Development and Current State, Edward Elgar Publishing Ltd, 2005
International Economics Booklist
- Paul R. Krugman, Maurice Obstfeld and Marc Melitz; International Economics: Theory and Policy, Pearson Education, 12th edition, 2022
- Dominick Salvatore; International Economics: Trade and Finance, Wiley, 11th edition, 2014
Public Finance Booklist
- Richard A. Musgrave and Peggy B. Musgrave; Public Finance in Theory and Practice, McGraw Hill, 5th edition, 2017
- Stiglitz, J.E. and Jay K. Rosengard Economics of the Public Sector, W.W. Norton & Company, 4th edition, 2015
Growth and Development Booklist
- P. Thirlwall; Economics of Development: Theory and Evidence, Macmillan, 9th edition, 2011
- Debraj Ray, Development Economics, Oxford University Press, 2009
- Basu, K., Analytical Development Economics, The Less Developed Economy Revisited, MIT Press, 2003
RBI DEPR Phase – II (Paper II – Modules on Quantitative Methods in Economics and Indian Economy)
Mathematical Methods in Economics Booklist
- Simon, Carl P. and Lawrence Blume; Mathematics for Economists, W. W. Norton & Company, Inc., 1994
- Kevin Wainwright and Alpha C. Chiang; Fundamental Methods of Mathematical Economics, 4th edition, McGraw-Hill, 2005
Econometrics Booklist
- N. Gujarati and D.C. Porter; Essentials of Econometrics, McGraw-Hill, 4th edition, International Edition, 2010
- Wooldridge, J.M; Introductory Econometrics: A Modern Approach, Cengage Learning, 7th edition, 2022
Statistics Booklist
- G. Das; Statistical Methods, McGraw-Hill, 2008
- Miller, I., Miller, M.; John E. Freund’s Mathematical Statistics with Applications, 8th edition, Pearson, 2021
Indian Economy Booklist
- Economic Survey, Government of India, Various Issues
- India Development Report, Oxford University Press, Various Issues
- Uma Kapila, Indian Economy since Independence, Academic Foundation, Various Issues.
- RBI Annual Report – Last two years
- RBI Report on Trends and Progress of Banking in India – Last two years
- Monetary Policy Reports – Last two years
- Financial Stability Report – Last two years
Note : Gautam Mishra was enrolled in only Indian Economic Service Interview Guidance Programme 2025Â with Testonomics, for Indian Economic Service Exam preparation !
