CBSE Syllabus Class 12 Economics 2021: The subject of economics is a core subject. The subject is divided into 2 sub parts and allocated every individual chapter in the subject with individual marks. The students must try and concentrate on both the sections of the subject equally. As the total marks that are allocated every sub part of the subject are equal.
The students for the subject of economics are advised to be more descriptive and diagrammatic while giving the answers in the examination. This is a general tip that is given by the subject experts in order to improve your grades.
CBSE Class 12 Economics Syllabus 2021
|Unit Name||Chapter’s Name||Marks|
|Introductory Macroeconomics||National Income And Related Aggregates||10|
|Money And Banking||6|
|Determination Of Income And Employment||12|
|Government Budget And The Economy||6|
|Balance Of Payments||6|
|Total Of Section A||40|
|Indian Economic Development||Development Experience (1947-90) and Economic Reforms since 1991||12|
|Current Challenges facing Indian Economy||22|
|Development Experience of India – A Comparison with Neighbours||06|
|Theory Paper (40+40 = 80 Marks)||06|
|Total Of Section B||40|
|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:
GDP and Welfare
|Unit 2: Money and Banking|
Money – meaning and 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, CRR, 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.
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.
Measures of government deficit – revenue deficit, fiscal deficit, primary deficit their meaning.
|Unit 5: Balance of Payments||Balance of payments account – meaning and components; balance of payments deficit meaning.|
Foreign exchange rate – meaning of fixed and flexible rates and managed floating. Determination of exchange rate in a free market.
|Part B: Indian Economic Development|
|Unit 6: Development Experience (1947-90) and Economic Reforms since 1991: |
A brief introduction of the state of Indian economy on the eve of independence. Common goals of Five Year Plans.
Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy, etc.), industry (industrial licensing, etc.) 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||Poverty– absolute and relative; Main programmes for poverty alleviation: A critical assessment;|
Rural development: Key issues – credit and marketing – role of cooperatives; agricultural diversification; alternative farming – organic farming
Human Capital Formation: How people become resource; Role of human capital in economic development; Growth of Education Sector in India
Employment: Formal and informal growth; problems and policies.
Infrastructure: Meaning and Types: Case Studies: Energy and Health: Problems and Policies- A critical assessment;
Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming.
|Unit 8: Development Experience of India:||A comparison with neighbors|
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