Class 12 Economics Syllabus

Given below is the syllabus of class 12 economics

Economics

1. Introduction

2. Consumer’s Equilibrium and Demand

3. Forms of Market and Price Determination

4. Producer Behaviour and Supply

5. Introductory Macroeconomics

6. National Income and Related Aggregates

7.  Money and Banking

8. Determination of Income and Employment

9. Government Budget and the Economy

Detailed Syllabus of Economics

Part A:  Introductory Microeconomics

1. Introduction

2. Consumer’s Equilibrium and Demand

3. Forms of Market and Price Determination

4. Producer Behaviour and Supply

• Simple Economy
• Central Problems of an Economy
• Organisation of Economic Activities
• Centrally Planned Economy
• Market Economy
• Positive and Normative Economics
• Microeconomics and Macroeconomics

Part B:  Introductory Macroeconomics

5. Introductory Macroeconomics

• Emergence of Macroeconomics

6. National Income and Related Aggregates

• Some Basic Concepts of Macroeconomics
• Circular Flow of Income and Methods of Calculating National Income
• The Product or Value-Added Method
• Expenditure Method
• Income Method
• Factor Cost, Basic Prices and Market Prices
• Some Macroeconomic Identities
• Nominal and Real GDP
• GDP and Welfare

7.  Money and Banking

• Functions of Money
• Demand for Money
• Supply of Money
• Money Creation by Banking System
• Balance Sheet of a Fictional Bank
• Limits to Credit Creation and Money Multiplier
• Policy Tools to Control Money Supply

8. Determination of Income and Employment

• Aggregate Demand and its Components
• Investment
• Determination of Income in Two-sector Model
• Determination of Equilibrium Income in the Short Run
• Macroeconomic equilibrium with price level fixed
• The Multiplier Mechanism

9. Government Budget and the Economy

• Government Budget – Meaning and its Components
• Objectives of Government Budget
• Classification of Receipts
• Classification of Expenditure
• Balanced, Surplus and Deficit Budget
• Measures of Government Deficit
• Balance of Payments