CBSE Class 12 Economics Syllabus 2023-24 | For 2024 Board Exams | Free PDF Download

CBSE Class 12 Economics Syllabus for 2023-2024 Board Exams:

CBSE Class 12 Economics is a course offered by the Central Board of Secondary Education (CBSE) for students of class 12 with a Commerce stream. The course covers a range of topics from both microeconomics and macroeconomics and aims to provide students with a strong foundation in the principles of economics and an understanding of how economic concepts apply to real-world situations. Every student of the commerce stream wants to score high marks in this exam, as the marks in this subject play a very important role in their further studies. To score well in any subject, the student should know the syllabus very well. With the help of a syllabus, students can plan their preparation accordingly and more effectively.

The CBSE Class 12 Economics syllabus includes topics such as consumption of goods, meaning and function of money, national income and employment, economic reforms in India, government budget, central bank and its functions, tax and money supply and many more. Students are also required to undertake a project on a topic of their choice related to economics, which should include a written report and a presentation.

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CBSE Class 12 Economics Syllabus 2023-2024 and Marks Distribution

Unit 1 - National Income and Related Aggregates

• What is Macroeconomics? 
• This includes Basic concepts in macroeconomics: capital goods, consumption goods, intermediate goods, final goods; stocks and flows; depreciation and gross investment.
• Circular flow of income (two sector model) – methods of calculating National Income – value added/product method, income method and expenditure method.
• Aggregates Related to National Income: 
• This includes Gross Domestic Product (GDP), Gross National Product (GNP), Net National Product (NNP) and Net Domestic Product (NDP) – at factor price, market price; real and nominal GDP. GDP and welfare.

Unit 2 - Money and Banking

• Money: Meaning, functions and supply of money – net demand deposits held by commercial banks and currency help the public,
• Money creation by commercial banking system
• Central bank and its functions (RBI- Reserve Bank of India) – Banker’s bank, bank of issue, Government bank, control credit through Bank Rate, Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), Repo rate, Reserve Repo Rate, Margin requirement and open market operations.

Unit 3 - Determination of Income and Employment

• Aggregate demand and its components.
• Problems of excess demand and deficient demand; measures to correct them – changes in government spending, taxes and money supply.
• 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.

Unit 4: Government Budget and the Economy

• Classification of expenditure – revenue expenditure and capital expenditure.
• Balanced, Surplus and Deficit Budget – measures of government deficit.
• Government budget – meaning, objectives and components.
• Classification of receipts – revenue receipts and capital receipts;

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Unit 5: Balance of Payments

• Balance of payments account – meaning and components;
• Managed Floating exchange rate system
• 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.

Unit 6: Development Experience (1947-90) and Economic Reforms since 1991

• Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI – role & importance) and foreign trade.
• A brief introduction to the state the of Indian economy on the eve of independence.
• Indian economic system and common goals of Five Year Plans.

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
• Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming
• Rural development: Key issues – credit and marketing – the role of cooperatives; agricultural diversification; alternative farming – organic farming
• Employment: Growth and changes in workforce participation rate in formal and informal sectors; problems and policies

Unit 8: Development Experience in India

• Issues: economic growth, population, sectoral development and other Human Development Indicators
• A comparison with neighbours
• India and Pakistan
• India and China

How to use CBSE Class 12 Economics Syllabus?

The CBSE Class 12 Economics syllabus is designed to provide students with a comprehensive understanding of the subject. It covers a wide range of topics, including microeconomics, macroeconomics, and international economics. In order to effectively use the syllabus and succeed in your studies, there are a few key strategies you can follow.

Familiarize yourself with the syllabus: The first step to using the syllabus effectively is to become familiar with its contents. Take some time to review the various topics and subtopics that are covered, and try to get a sense of the overall structure of the syllabus. This will help you understand what you need to learn and how the various topics fit together.

Set clear learning goals: Once you have a good understanding of the syllabus, take some time to set clear learning goals for yourself. This could include specific topics you want to master or broader goals like improving your overall understanding of economics. Having clear goals will help you stay motivated and focused as you work through the material.

Create a study plan: To make the most of your time and ensure that you are able to cover all of the necessary material, it is important to create a study plan. This might involve breaking the syllabus down into manageable chunks and setting aside specific times each week to work on each section. It might also involve identifying any areas where you need extra help or support and seeking out resources to fill those gaps.

Seek out additional resources: In addition to the materials provided in your textbook and lectures, there are many other resources that can be helpful as you work through the CBSE Class 12 Economics syllabus. This might include online tutorials, practice quizzes, and economics-specific study guides. Don't be afraid to seek out additional resources to help you better understand the material.

Practice regularly: Finally, one of the best ways to use the CBSE Class 12 Economics syllabus effectively is to practice regularly. This might involve working through practice problems, completing assignments, or participating in class discussions. The more you practice, the more comfortable you will become with the material and the better prepared you will be for exams and other assessments.

Conclusion

In conclusion, the CBSE Class 12 Economics syllabus is a comprehensive guide to the subject that covers a wide range of topics. To effectively use the syllabus and succeed in your studies, it is important to familiarize yourself with its contents, set clear learning goals, create a study plan, seek out additional resources, and practice regularly. By following these strategies, you will be well on your way to mastering the material and achieving success in your economics studies.

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