A systematic 8-month strategy for the ISI MSQE requires building a strong foundation in the

initial months and then moving on to advanced topics and rigorous practice. Since you have a
good amount of time, you can create a very strong base.

Here is a detailed study strategy with a special focus on the first two months to get you
started on the right track.

The 8-Month Master Plan: An Overview

The entire preparation can be broken down into three main phases:
●​ Phase 1 (Months 1-3): The Foundation. This phase is all about building a rock-solid
conceptual understanding of the core mathematical and statistical tools. You'll also cover
the foundational principles of microeconomics.
●​ Phase 2 (Months 4-6): Advanced Topics & Integration. In this phase, you'll tackle the
more advanced parts of the syllabus, like constrained optimization, macroeconomics, and
integrating your mathematical skills to solve complex economic problems. You'll also
begin solving topic-wise past year questions (PYQs).
●​ Phase 3 (Months 7-8): Revision & Mock Tests. This final phase is dedicated to
intensive revision, solving full-length PYQs, and taking mock tests to build speed,
accuracy, and exam temperament.

Phase 1: Your Detailed 2-Month Foundational Strategy

This initial phase is the most critical. The goal here is conceptual clarity, not speed. You need
to understand the "why" behind the formulas.

Guiding Principles for the First 2 Months:

●​ Connect the Dots: Always try to see how the math you're learning is applied in the
economics topics. For example, when you study single-variable optimization, immediately
see how it's used to find a firm's profit-maximizing output.
●​ Alternate Subjects: Avoid studying one subject for a whole day. A good approach is to
dedicate time to both Math/Stats and Economics each day.
●​ Recommended Books:
○​ Mathematics: Mathematics for Economic Analysis by Sydsaeter and Hammond.
○​ Statistics: An Introduction to Mathematical Statistics and Its Applications by Larsen
and Marx or John E. Freund's Mathematical Statistics with Applications.
 ○​ Microeconomics: Intermediate Microeconomics by Hal Varian.

Month 1: Building the Mathematical & Microeconomic Core

This month focuses on the absolute essentials of calculus and consumer theory.
●​ Week 1: Functions, Limits, & Consumer Preferences
○​ Mathematics (Mon/Wed/Fri): Start with the basics. Cover Functions of one
variable, their properties, and graphs (linear, polynomial, exponential, log). Then
move on to the concepts of Limits and Continuity.
■​ Goal: Understand the behavior of functions, which is the language of economics.
○​ Microeconomics (Tue/Thu/Sat): Begin with Hal Varian. Cover the concepts of
Consumer Preferences, assumptions (completeness, transitivity), and Utility
Functions. Learn about indifference curves and their properties.
■​ Connection: The utility functions you study are the very functions you're
learning about in your math sessions.
●​ Week 2: Single-Variable Differentiation & Utility Maximization
○​ Mathematics (Mon/Wed/Fri): Dive deep into Differentiation of functions of one
variable. Master all the rules (product, quotient, chain rule).
■​ Goal: Understand the derivative as a rate of change.
○​ Microeconomics (Tue/Thu/Sat): Cover the Budget Constraint. Now, combine this
with utility functions to solve the Utility Maximization Problem. Derive the
consumer's optimal choice.
■​ Connection: You'll use differentiation to find the marginal utility, which is a key
part of solving the consumer's problem.
●​ Week 3: Single-Variable Optimization & Demand
○​ Mathematics (Mon/Wed/Fri): Focus on Unconstrained Optimization of a single
variable. Learn the first and second derivative tests for finding local/global maxima
and minima.
■​ Goal: Master the technique of finding the maximum or minimum of a function.
○​ Microeconomics (Tue/Thu/Sat): Use the utility maximization framework to derive
Individual Demand functions. Study how demand changes with price and income
(normal vs. inferior goods).
■​ Connection: You are now applying your optimization skills directly to an
economic model.
●​ Week 4: Integration & Its Economic Application
○​ Mathematics (Mon/Wed/Fri): Begin Integration. Cover both Definite and
Indefinite Integrals and the key techniques of Integration by parts and
substitution.
■​ Goal: Understand integration as the reverse of differentiation and as a tool to
find the area under a curve.
 ○​ Microeconomics (Tue/Thu/Sat): Apply integration to calculate Consumer Surplus.
Also, cover the concepts of market demand and elasticity.
■​ Connection: This is a perfect, direct application of definite integrals.

Month 2: Expanding to Statistics & Producer Theory

Now you'll introduce statistics and build the other side of the market: the producers.
●​ Week 5: Basic Probability & Production Technology
○​ Statistics (Mon/Wed/Fri): Start your statistics preparation. Cover the fundamentals
of Basic Probability theory, including axioms, sample spaces, events, and
conditional probability (Bayes' Theorem).
■​ Goal: Build the foundation for understanding uncertainty.
○​ Microeconomics (Tue/Thu/Sat): Begin Producer Theory. Cover Production
Functions (like Cobb-Douglas), isoquants, and the concept of the marginal rate of
technical substitution (MRTS).
■​ Connection: Production functions are another real-world example of the
multivariable functions you'll soon be studying.
●​ Week 6: Random Variables & Cost Minimization
○​ Statistics (Mon/Wed/Fri): Move on to Random Variables (discrete and continuous)
and their Probability Distributions (PDFs and CDFs). Cover the concepts of
Expectation (mean) and Variance.
■​ Goal: Learn how to describe and summarize uncertain outcomes mathematically.
○​ Microeconomics (Tue/Thu/Sat): Cover the firm's Cost Minimization problem.
Learn about isocost lines and derive the conditional factor demands.
■​ Connection: This is the producer's equivalent of the consumer's utility
maximization problem.
●​ Week 7: Common Distributions & Cost Curves
○​ Statistics (Mon/Wed/Fri): Study important distributions like the Binomial, Poisson,
and especially the Normal distribution. Understand their properties and when they
are used.
■​ Goal: Get familiar with the most important statistical tools.
○​ Microeconomics (Tue/Thu/Sat): Derive the different Cost Curves (total, average,
marginal) from the cost minimization problem. Understand their shapes and
relationships.
■​ Connection: The shape of the marginal cost curve is determined by the
derivative of the total cost function.
●​ Week 8: Bivariate Distributions & Profit Maximization
○​ Statistics (Mon/Wed/Fri): Introduce Bivariate Distributions. Understand the
concepts of Covariance and Correlation.
■​ Goal: Understand how two random variables move together.
 ○​ Microeconomics (Tue/Thu/Sat): Finally, tackle the firm's Profit Maximization
problem. Derive the firm's supply function.
■​ Connection: This will use your single-variable optimization skills to maximize the
profit function (Profit = Revenue - Cost).

By the end of these two months, you will have a strong command of the foundational
concepts and, more importantly, a clear understanding of how they link together. This
integrated approach will make learning the more advanced topics in the subsequent months
much more intuitive.