CBSE Class 12th Economics syllabus has been decided by the board for the students. To check CBSE Class 12th Economics Syllabus 2023-24 in detail, go through the complete article and download the syllabus PDF from the link attached in this article.
CBSE Class 12th Economics Course Structure 2024
CBSE Class 12th Economics Syllabus 2023-24
Part A: Introductory Macroeconomics
Unit 1: National Income and Related Aggregates
- What is Macroeconomics?
- Basic concepts in macroeconomics: consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation.
- Circular flow of income (two sector model); Methods of calculating National Income – Value Added or Product method, Expenditure method, Income method.
- Aggregates related to National Income:
- Gross National Product (GNP), Net National Product (NNP), Gross Domestic Product (GDP) and Net Domestic Product (NDP) – at market price, at factor cost; Real and Nominal GDP
- GDP Deflator, GDP and Welfare.
Unit 2: Money and Banking
- Money – meaning and functions, supply of money – Currency held by the public and net demand deposits held by commercial banks.
- Money creation by the commercial banking system.
- Central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker’s Bank, Control of Credit through Bank Rate, Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.
Unit 3: Determination of Income and Employment
- Aggregate demand and its components.
- Propensity to consume and propensity to save (average and marginal).
- Short-run equilibrium output; investment multiplier and its mechanism.
- Meaning of full employment and involuntary unemployment.
- Problems of excess demand and deficient demand; measures to correct them – changes in government spending, taxes and money supply.
Unit 4: Government Budget and the Economy
- Government budget – meaning, objectives and components.
- Classification of receipts – revenue receipts and capital receipts;
- Classification of expenditure – revenue expenditure and capital expenditure.
- Balanced, Surplus and Deficit Budget – measures of government deficit.
Unit 5: Balance of Payments
- Balance of payments account – meaning and components;
- Balance of payments – Surplus and Deficit
- Foreign exchange rate – meaning of fixed and flexible rates and managed floating.
- Determination of exchange rate in a free market, Merits and demerits of flexible and fixed exchange rate.
- Managed Floating exchange rate system
Part B: Indian Economic Development
Unit 6: Development Experience (1947-90) and Economic Reforms since 1991:
- A brief introduction of the state of the Indian economy on the eve of independence.
- Indian economic system and common goals of Five Year Plans.
- Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI – role & importance) and foreign trade.
- Economic Reforms since 1991: Features and appraisals of liberalisation, globalisation and privatisation (LPG policy);
- Concepts of demonetization and GST
Unit 7: Current challenges facing Indian Economy
- Human Capital Formation: How people become resource; Role of human capital in economic development; Growth of Education Sector in India
- Rural development: Key issues – credit and marketing – role of cooperatives; agricultural diversification; alternative farming – organic farming
- Employment: Growth and changes in work force participation rate in formal and informal sectors; problems and policies
- Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming
Unit 8: Development Experience of India:
- A comparison with neighbours
- India and Pakistan
- India and China
- Issues: economic growth, population, sectoral development and other Human
- Development Indicators
Part C: Project in Economics
Prescribed Books
1. Statistics for Economics, NCERT
2. Indian Economic Development, NCERT
3. Introductory Microeconomics, NCERT
4. Macroeconomics, NCERT
5. Supplementary Reading Material in Economics, CBSE
CBSE Class 12th Economics Question Paper Design 2024
Frequently Asked Questions(FAQ’s)
- What are the main topics covered in the CBSE Class 12th Economics Syllabus 2023?
The CBSE Class 12th Economics Syllabus 2023 covers topics such as Introduction to Microeconomics, Consumer Equilibrium and Demand, Producer Behavior and Supply, Forms of Market and Price Determination under different market structures, National Income and Related Aggregates, Money and Banking, Determination of Income and Employment, Government Budget and the Economy, Balance of Payments, and the Indian Economy. - How many questions are there in the CBSE Class 12th Economics exam?
The CBSE Class 12th Economics exam consists of 4 sections. Section A has 20 questions of 1 mark each, Section B has 7 questions of 4 marks each, Section C has 4 questions of 6 marks each, and Section D has 1 question of 8 marks. - What are the recommended textbooks for the CBSE Class 12th Economics exam?
The recommended textbooks for the CBSE Class 12th Economics exam are Introductory Microeconomics and Introductory Macroeconomics by Ramesh Singh, and Indian Economic Development by Sandeep Garg. - What are the important topics to focus on for the CBSE Class 12th Economics exam?
The important topics to focus on for the CBSE Class 12th Economics exam are Consumer Equilibrium and Demand, Producer Behavior and Supply, Market Equilibrium, National Income Accounting, Money and Banking, Determination of Income and Employment, Government Budget and the Economy, Balance of Payments, and the Indian Economy. - Are there any sample papers available for the CBSE Class 12th Economics exam?
Yes, the CBSE board releases sample papers for the CBSE Class 12th Economics exam on its official website. Students can also refer to previous years’ question papers for practice.
