New Updated Syllabus | CBSE Syllabus Class 12 Economics 2022

CBSE Syllabus Class 12 Economics 2022: 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.

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CBSE Class 12 Economics 2021-2022

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 2022

Unit NameChapter’s NameMarks
Introductory MacroeconomicsNational Income And Related Aggregates10
Money And Banking6
Determination Of Income And Employment12
Government Budget And The Economy6
Balance Of Payments6
Total Of Section A  40
Indian Economic DevelopmentDevelopment Experience (1947-90) and Economic Reforms since 199112
Current Challenges facing Indian Economy22
Development Experience of India – A Comparison with Neighbours06
Theory Paper (40+40 = 80 Marks)06
Total Of Section B40
Project Work20

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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 and Net Domestic Product (GDP and NDP) – at market price, at factor cost; Real and Nominal GDP.

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.
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.

Measures of government deficit – revenue deficit, fiscal deficit, primary deficit their meaning.

Unit 5: Balance of PaymentsBalance 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 EconomyPoverty– 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
  • India and Pakistan
  • India and China
  • Issues: growth, population, sectoral development and other Human Development Indicators

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