Economics Syllabus Class 12 for CBSE Term 1 & 2
Economics helps you to know the ground reality of the domestic and world economy. Studying Economics comes with a lot of learning, observations, and opportunities. It increases the comprehension skills of a learner which helps them understand the economic reality of the world. The CBSE Class 12 Economics Syllabus is crafted to help a learner to understand the current economy and how different factors of economic forces interact with each other. It covers topics from the basics of the economy to different kinds of plans and policies that create solutions to grow an economy. It is one of the most difficult yet interesting subjects and hence requires significant attention and dedication from the students. So, to enhance a students’ knowledge on the subject of Economics, we offer Term-wise syllabus of Class 12 CBSE.
The syllabus offers a preview of the chapters and the topics of which the students need to have a thorough understanding. It is the beginning of a journey of strategic preparation for the subject.
CBSE Class 12 Economics Syllabus
You can go through the CBSE Syllabus for Class 12 Economics for terms 1 and 2 from the PDF file given below.
CBSE Class 12 Syllabus for Other Subjects:
The CBSE Class 12 syllabus includes a wide range of subjects such as Mathematics, Physics, Chemistry, Biology, English, Hindi, Political Science, and more. Each subject has its own unique syllabus, which includes topics, concepts, and theories that students need to learn and understand. The syllabus is designed to provide a comprehensive and well-rounded education that prepares students for higher education and future careers.
CBSE Class 12 Syllabus
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- CBSE Class 12 Economics Syllabus
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CBSE Economics Syllabus Class 12 Term (1 & 2) 2023-24
To help the students improve their preparation for the Class 12 board examination, here a complete term-wise guide is given here. In Term 1, students study Macroeconomics which deals with the aggregate concepts and circular flow of resources inside the economy and amidst economies. In Term 2, students learn about the Indian economy, how it was shaped post independence, and where it is heading now.
Important Chapter of Class 12 Economics Syllabus
In Term 1 and term 2 there are few chapters to which the CBSE board has given more weightage than others. Those are the chapters that students need to pay more attention to.
Term 1
- National Income and Related Aggregates (12 marks)
- Determination of Income and Employment (10 marks)
Term 2
- Development Experience (1947-90) and Economic Reforms since 1991(12 marks)
- Current Challenges facing Indian Economy (22marks)
For the details about all the chapters, just download the pdf file given above in the blog.
Important Questions of Macroeconomics
As per the CBSE Past Years’ Question Papers, the following questions are important for the Class 12 students-
MCQs:
Q1 What is the main cause of all economic problems?
- Convenience
- Scarcity
- Abundance
- None of these
Answer (2) Scarcity
Q2 What is the name of the book written by J.M. Keynes?
- Political economy
- The General Theory of Employment, Interest and Money
- Wealth of Nation
- None of the Above
Answer (2) The General Theory of Employment, Interest and Money
Q3 The famous book by Professor Keynes was published in
- 1930
- 1934
- 1931
- 1936
Answer (4) 1936
Q4 When did the great depression occur?
- 1929-30
- 1934-35
- 1936-38
- 1940-42
Answer (1) 1929-30
Short Questions:
- What are Macroeconomics and microeconomics and what is the connection between the two?
- What is entrepreneurship?
- What is the definition of the Great depression?
- What are the features of the capitalist economy?
- What are economic agents?
Long Questions:
- Define and explain the importance of ‘scarcity’ and ‘opportunity costs’ in Economics
- What are the different ways in which resources can be allocated and what are their respective advantages and disadvantages?
These are some of the CBSE Important Questions or related questions that students must prepare for their board examination.
Economics Class 12 Term 1 Syllabus
Units |
Topics |
Marks |
Periods |
Part A |
Introductory Macroeconomics |
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Unit 1 |
National Income Accounting
- What is macroeconomics?
- · Basic concepts in macroeconomics: consumption goods, final goods, capital goods, intermediate goods, gross investments, stocks and flows, and depreciation.
- Circular flow of income; value-added or product method; Expenditure method; Income method
- Aggregate-related national income
- GDP and welfare
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10 |
30 |
Unit 2 |
Money and Banking
- Money –supply of money – Currency held by the people and net demand deposits commercial banks.
- · Money making by the commercial banking system.
- Functions of central bank (example of the RBI): Bank of issue, Government Bank, Banker’s Bank, Control of Credit, Bank Rate, SLR, CRR, Repo and Reverse Repo Rate, Open Market Operations, Margin requirements.
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6 |
15 |
Unit 3 |
Determination of Income and Employment
- Aggregate demand.
- The propensity to consume and propensity to save. Short-run equilibrium output; investment multiplier’s mechanism; Full employment and involuntary unemployment.
- Problems of excess demand and deficient demand; measures to correct– changes in government spending money supply and taxes
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12 |
25 |
Unit 4 |
Government Budget and the Economy
- Government budget
- · Classification of receipts –capital receipts and revenue receipts; classification of expenditure – revenue and capital expenditure.
- Measures of deficit – revenue deficit, primary deficit, fiscal deficit and others
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6 |
15 |
Unit 5 |
Balance of Payments
- · Balance of payments account – meaning and components
- · Foreign exchange rate –fixed and flexible rates and managed floating, Determination of exchange rate in free markets.
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6 |
15 |
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Total Theory Paper (Term 1) |
40 |
100 |
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Project |
10 |
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Total |
50 |
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Economics Class 12 Term 2 Syllabus
Units |
Topics |
Marks |
Periods |
Part B |
Indian Economic Development |
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Unit 6 |
Development Experience (1947-90)
- · A brief introduction of the situation of Indian economy in the eve of the Independence
- · Main features, Problems, policies industry and foreign trade
and Economic Reforms since 1991
- Features and appraisals of liberalization, globalization, and privatization, Concept of GST
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12 |
28 |
Unit 7 |
Current Challenges facing Indian Economy
· Poverty- Absolute and relative poverty; programs for poverty alleviation; and critical assessment
· Human capital formation- How people become resources; Role of human capital in economic growth
· Employment- Growth and changes in participation rate of workforce in formal and informal sectors, problems and policies
· Infrastructure- Meaning and Types, case studies, Health: problems and policies, critical assessment
· Sustainable economic growth- Meaning, effects of economic development of resources and environment, including the Global warming |
22 |
60 |
Unit 8 |
Development Experience of India – A Comparison with Neighbors
- A comparison with neighbors India and Pakistan
- India and China
- Issues: economic growth, population, sectoral development, and other Human Development Indicators
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06 |
12 |
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Total Theory Paper (Term 2) |
40 |
100 |
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Project |
10 |
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Total |
50 |
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Project Work for CBSE Class 12 Economics Term 1
- Advantages and disadvantages of GST to consumers
- Demonetization and its impact on the nation
- Impact of GST on foreign direct investment or FDI
- Impact of GST on Income Tax
- Self Help Group
Project Work for CBSE Class 12 Economics Term 2
- Imperfect competition and market failure
- Non performing assets and Bad Bank
- Inflation and RBI’s policy changes to curb it
- Reformation of the banking sectors
- Monopoly and competition
Preparation Tips for Class 12 Economics
Some preparation tips are given below for the students to tackle the whole syllabus of Class 12 Economics.
- Check the syllabus and the exam pattern thoroughly
You first need to know the syllabus and exam patterns to manage your time, determine the efforts needed for a particular chapter, understand the level of difficulties of each chapter and take time for revision.
- Know the materials to be followed to make notes
. According to the syllabus of CBSE, the NCERT Books are the most effective in understanding the concepts of CBSE boards.
- Understand each concept and clear the basics
You cannot level up unless you have understood the basics enough. Students must clear all their doubts to write the board examination properly. You need to memorize the definitions as it is and must think of the relevance of the topics in the modern economic scenario.
- Know the importance of graph tables and formulas
The importance of graphical representation with tables and formulas is huge in Economics. Sometimes, students face difficulties in understanding the graphs and tables. It is important that you pay attention to them and learn things properly.
- Make a proper study plan
After you have got enough knowledge about the syllabus and question patterns, then make a proper study plan as per your efficiency. After completing each chapter, take a mock test to check your understanding of the chapter.
- Make quick notes for revisions
You must create a notebook of quick notes where you can write down the topics of each chapter briefly to remember the things you have learned. It will help in your revision. You can use a highlighter to make the important questions or concepts visible.
Importance of Chapters of Class 12 Economic Syllabus:
The Economics syllabus of Class 12 makes you acquainted with the basics of the economy. At this stage, you start learning about the terms, basics, and a brief description of the economic things. Moreover, you will get a clear vision of whether you want to pursue it in the future or not. So, the students should study the chapters, and prepare with CBSE Revision Notes to get the best knowledge about the subject.
The first part of Economics talks about the terms and the processes that nations and banks follow. On the other hand, Part B concentrates on India and past experiments with its economy.
Project Work Class 12- Economics
Project work is an integral part of the subjects for the students of the CBSE boards. The project works carry 20 marks, 10 marks in each term. The obtained score depends on the quality of the project you would submit. This project work will help students understand the practical application of the subject in detail.
After a term ends, the student needs to present the research work in the form of a project file.
Marking System:
S. No. |
Heading |
Marks Allotted |
1. |
The relevance of the topic |
3 |
2. |
Knowledge Content/Research Work |
6 |
3. |
Presentation Technique |
3 |
4. |
Viva-voce |
8 |
5. |
Total |
20 Marks |