How to prepare for Economic and Business Environment for CSEET Exam?

Company Secretary is a reputable profession as a CS manages the businesses by maintaining several chords adhering to the law, cost, accounts, management, etc. The Institute of Companies Secretaries of India (ICSI) regulates the curriculum of CS courses. This course, split into three stages that need to clear to become a Company Secretary.

Qualifying for this paper is not difficult or impossible. One needs to devise a plan in the right way. First of all, you have to make par with the fact that this entire course requires a lot of effort, frequent revisions, and consistent self-study. Within this article, we have highlighted few tips to qualify the CSEET Paper 3-Economic and Business Environment-

Understand the Paper

Paper 3 of the CSEET examination, split into distinct topics. Clarity is necessary to qualify for an exam. Candidates must go through the syllabus carefully and make a customized assessment of the syllabus. Along with the syllabus, candidates must be acquainted with exam patterns, number of questions, total marks, etc.

  • The paper, split into two parts-
    • (i) Part A - Economics (25 Marks)
    • (ii) Part B - Business Environment (25 Marks)
  • Total number of questions- 35 
  • Total marks- 50 Marks
  • To pass this paper candidates must get 40% marks.
  • The purpose of this paper is to explore the concepts of Micro & Macro Economics with a focus on the Indian economic system. Also, assess the comprehension in varieties of aspects of the business environment.
  • Expectations for Paper 3 - The Environmental and Business Paper aims to measure students' understanding of the various important concepts of economics and macroeconomics and the business environment. As the business operates under the economic and business environment provided under changes in the government policies, it is necessary to understand the basics of economics, and business concepts, which will simplify the learning process at various stages of work. Therefore, CSEET expects students to become familiar with the basic concepts of micro and macroeconomics and the business environment, and the latest development that is taking place.
  • Check the detailed syllabus of Paper 3 in the table below-


Sub topics

Part A - Economics (25 Marks)

  1. Basics of Demand and Supply and Forms of Market Competition 

Theory of Demand and Supply

Equilibrium Price 

Elasticity of Demand and Supply and other related 


Increase and Decrease in Demand and Expansion 

and Contraction of Demand

Forms of Market Competition- Monopoly, Duopoly, Oligopoly, Perfect Competition and Monopolistic Competition

  1. National Income Accounting and Related Concepts.

Meaning and methods to compute National Income 

Key variables of National Income (GNP, GDP, NNP, 

NDP etc.)

  1. Indian Union Budget 

Key terminologies / heads covered under the budget

Revenue and Capital Budget 

Major components of Revenue and Capital Budget 

Meaning of Fiscal Deficit 

Components/ Variables covered under Fiscal Deficit

  1. Indian Financial Markets

Overview of Indian Financial Ecosystem

Key facets of Indian financial system

Growth of Financial Institutions

Public and private sector banks

Industrial Finance Corporation of India, Small 

Industries Development Bank of India

Regional Rural Banks

Cooperative Banks

Non-Banking Finance Companies 

Basics of Capital Market: Types of Shares and Debentures

Financial assistance scenario for Small and Medium 

Enterprises and Start-Ups.

  1. Indian Economy

Primary (Agriculture and allied activities)

Secondary (Manufacturing) 

Tertiary (Services)

Current scenario of agriculture and allied activities in India 

Agricultural and Industrial Policies of India 

Current scenario of services sector in India

Balance of Payments 

Components of Balance of Payments

Favorable and Unfavorable Balance of Trade

Foreign Investments in India- Types and Flows

Part B - Business Environment (25 Marks)

  1. Entrepreneurship Scenario

Government initiatives to foster entrepreneurship.

Need for entrepreneurship in India.

Bottlenecks in entrepreneurial growth.

  1. Business Environment

Overview of Business Environment

Features and factors influencing business 


Types of environment: Economic environment, 

Socio-cultural environment, Political environment, 

Legal and Technological environment

Ease of Doing Business Index by World Bank for 

India and Department for Promotion of Industry and 

Internal Trade (DPIIT) for States

  1. Key Government Institutions.

Basic awareness about various institutions and regulatory bodies in India such as NITI Aayog, MCA, SEBI, RBI, IBBI, CCI, NCLT/NCLAT etc.

Study plan

Devise a target-focused study plan. The plan prepared should be well planned, and you must stick to it. Within the plan, candidates can assign daily/weekly goals topic-wise to eliminate confusion.

Self- Study 

Start preparing for the exams as early as possible and create your own notes/points. Cover all the topics/subtopics provided in the study materials of the Institute. Prepare summary points as it helps for a quick review the day before the test. Do not neglect any topic that you find difficult.

Dоn't try tо mug uр

The entire cоurse struсture is designed in such a wаy thаt, if candidates understаnd the соnсeрts сleаrly, they will be able to answer any question, despite the difficulty level. Candidates must understand the gist оf the соnсeрts, so they never have tо mug uр.

Revisions and test yourself

Revisions are everything. Complete your studies beforehand to get enough time to revise the entire syllabus at least twice. Revision increases the chances to score a decent mark. Also, marks are directly proportional to the no. of revisions one does. After completing revisions, go for tests as they help to know where one stаnds. Give mock tests of relevant subjects, compare your answer with suggested answers, understand your mistakes, and work accordingly to rectify them by investing enough time to change the weaknesses into strengths.

Above all, believe in yourself and study with the mоtive оf leаrning sоmething. It might аррeаr as оne оf the fаlse рretenсes, but believe me, dоwn the line it estаblish the differenсe between а qualified candidate аnd all оthers were not able to qualify. Have confidence!

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