Class 12 Economics Syllabus

Class 12 economics provides a wide range of concepts and advanced information regarding the subject which includes all the questions provided in the CBSE class 11 economics syllabus.

Economics concentrates on how government, businesses, households, societies, and individuals make choices about when, where, and how to use their natural resources at their best.

Economics for class 12 is an enhanced level of class 11. In class 11 we had studied the basic fundamental aspects of the subject. In class 12 it is an advanced degree of those concepts.

Economics

Class – 12 

Theory: 80 Marks

Duration : 3 Hours

Project: 20 Marks

Units:-

Part – A

Introductory Macroeconomics

1. Introduction

2. Some Basic Concepts of Macroeconomics

3. National Income and Related Aggregates

4. Methods of calculating national income

5. Money

6. Banking

7. Aggregate Demand,  Aggregate Supply and Related concepts

8. Short Run Equilibrium Output

9. Problem of Deficient Demand and Excess Demand

10. Government Budget and the Economy

11. Foreign Exchange Rate

12. Balance of Payments

1. Introduction

  • Meaning of Macroeconomics
  • How Macroeconomics differs from Microeconomics?
  • Scope and significance of Macroeconomics

2. Some Basic concepts of Macroeconomics

  • Classifications of Goods – i. Final Goods and Intermediate Goods ii. Consumption Goods and Capital Goods
  • Concept and Components of Consumption Expenditure
  • Concept and Components of Investment
  • Stocks and Flows
  • Four Sectors of the Economy
  • Intersectoral Flows – Real Flows and Money Flows
  • Circular Flow of Income

3. National Income and Related Aggregates

  • Concept of National Income
  • Gross and Net Concepts of Domestic Product
  • Domestic Product at Market Price at Factor Cost
  • Aggregates Related to National Income
  • Nominal and Real GDP
  • GDP and welfare

4. Methods of Calculating National Income

  • Methods of calculating National Income
  • Value Added Method
  • Income Method
  • Expenditure Method

5. Money

  • Meaning and Evolution of Money
  • Forms of Money
  • Supply of Money

6. Banking

  • Money Creation by the Commercial Banks
  • The Central Bank : Meaning and Functions
  • Control of Money supply by the Central Bank (RBI in India)

7. Aggregate Demand, Aggregate Supply, and Related Concepts

  • Concept of AD
  • Components of AD
  • Concept of AS
  • Consumption Function
  • Saving Function
  • Relationship between Propensity to Consume and Propensity to Save

8. Short Run Equilibrium Output

  • Concept of Short Run
  • Concept of Equilibrium Output
  • Determination of Equilibrium: Impact of Additional Investment
  • Investment Multiplier and its Mechanism

9. Problem of Deficient Demand and Excess Demand

  • Some Essential concepts:-1.Full employment equilibrium and underemployment equilibrium 2. Voluntary and involuntary unemployment 3. Full employment and natural unemployment
  • Problem of Deficient demand
  • Problem of Excess demand
  • Measures to correct Deficient and excess demand

10. Government Budget and The Economy

  • Concept of Government Budget
  • Objectives of Government Budget
  • Structure of the Budget
  • Budget Expenditure – Revenue Expenditure , Capital Expenditure
  • Budget Deficit – Revenue Deficit , Fiscal Deficit and Primary Deficit
  • Balanced and unbalanced Budget

11. Foreign Exchange Rate

  • Foreign exchange and foreign exchange rate
  • Flexible and fixed exchange rate
  • Managed floating
  • Components of demand for foreign exchange
  • Components of supply of foreign exchange
  • Foreign Exchange market

12. Balance of Payments

  • BOP (BOP Accounts) Meaning
  • Structure of BOP Account : Current Account, Capital Account and Official Reserves Account
  • Equilibrium and disequilibrium in BOP-BOP Deficit

Part – B

Indian Economic Development

1. Indian economy on the eve of Independence

2. Five Year Plan in India (goals and achievements)

3. Features, Problems, and Policies of Agriculture

4. Strategy of Industrial Growth (1947 to 1990)

5. Indian’s Foreign Trade

6. Economic Reforms Since 1991 or New Economic policy

7. Poverty

8. Human capital formation in India

9. Rural Development

10. Employment and unemployment

11. Infrastructure

12. Environment and Sustainable Development

13. Development experience of India, Pakistan and China- A Comparative study

1. Indian economy on the eve of Independence

  • Colonial Exploitation of the Indian Economy under the British Rule
  • Features of Indian economy on the eve of Independence
  • Agricultural sector on the eve of Independence
  • Industrial sector on the eve of Independence
  • Foreign trade under the British rule
  • Demographic profile during the British rule
  • Occupational structure on the eve of Independence
  • Structure on the eve of Independence

2. Five Year Plan in India (goals and achievements)

  • What is Economic Planning?
  • Need for planning in India
  • Planning and comprehensive planning
  • Type of Economics :  Capitalist, Socialist and Mixed economies
  • Long period and short period goals of planning in India
  • Features of economic policy pursued under planning till 1991
  • Achievement of planning
  • Failures of planning in India

3. Features problems and policies of agriculture

  • Importance of agriculture in the Indian economy
  • Features of Indian agriculture
  • Problems of Indian agriculture
  • Agrarian reforms
  • Achievement of Agrarian reforms : Green Revolution

4. Strategy of Industrial growth (1947 to 1990)

  • Importance of Industry
  • Factors Necessitating  direct  participation of the state in Industrial development
  • IPR – 1956 (Industrial Policy Resolution -1956) – A declaration on leading role of the state
  • Development of small scale Industry

5. India’s foreign trade

  • What is international foreign trade?
  • India’s foreign trade at the time of independence
  • India’s foreign trade after independence
  • Inward looking trade strategy

6. Economic reforms since 1991

  • Meaning of economic reforms
  • Elements of new economic policy
  • An appraisal of LPG policies

7. Poverty

  • What is  poverty and who are the poor?
  • What is  poverty line?
  • Causes of poverty
  • Measures of remove poverty
  • Measures adopted by the government to remove poverty

8. Human capital formation in India

  • Meaning of human capital and human capital formation
  • Determinants of human capital formation
  • Role of human capital formation
  • Problems facing human capital formation in India
  • Education as an essential element of human resource development

9. Rural development

  • Challenges of rural development
  • The Lingering challenges of rural development
  • The emerging challenges of rural development

10. Employment and unemployment

  • Some basic concept
  • Size of workforce in India
  • Rate of participation in India
  • Self employed and hired workers in India
  • Occupational structure or distribution of workforce by industry
  • Jobless growth
  • Casualisation and Informalisation of workforce
  • Rural and urban unemployment

11. Infrastructure

  • What is Infrastructure?
  • Infrastructure and Development
  • The State of Infrastructure in India

12. Environment and Sustainable Development

  •  Concept of environment
  • Significance of environment
  • Two basic problems related to environment : problem of pollution and problem of excessive exploitation of natural resource
  • Causes of environmental degradation
  • State of environment in India
  • Sustainable development
  • Strategies for sustainable development

13. Development experience of India, Pakistan, and china-a comparative study

  • Strategy of growth of India, Pakistan and China
  •  Comparative performance of the Economics of India, Pakistan and China in terms of: a.GDP growth b.Structure of growth c. Demographic profile d. Human development
  • Common Success Story of India and Pakistan
  • China’s Edge Over India

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