Maharashtra State Board 12th Standard Board Exam Eco Syllabus - Free PDF Download
Maharashtra State Board Syllabus 2026-27 12th Standard Board Exam: The Maharashtra State Board 12th Standard Board Exam Eco Syllabus for the examination year 2026-27 has been released by the MSBSHSE, Maharashtra State Board. The board will hold the final examination at the end of the year following the annual assessment scheme, which has led to the release of the syllabus. The 2026-27 Maharashtra State Board 12th Standard Board Exam Eco Board Exam will entirely be based on the most recent syllabus. Therefore, students must thoroughly understand the new Maharashtra State Board syllabus to prepare for their annual exam properly.
The detailed Maharashtra State Board 12th Standard Board Exam Eco Syllabus for 2026-27 is below.
Academic year:
Maharashtra State Board 12th Standard Board Exam Economics Revised Syllabus
Maharashtra State Board 12th Standard Board Exam Economics Course Structure 2026-27 With Marking Scheme
| # | Unit/Topic | Marks | Marks with options |
|---|---|---|---|
| 1 | Introduction to Micro and Macro Economics | ||
| 1 | Micro Economics | ||
| 1.01 | Introduction to Micro Economics | ||
| 1.02 | Consumers Behavior | ||
| 1.03 | Analysis of Demand and Elasticity of Demand | ||
| 1.04 | Analysis of Supply | ||
| 1.05 | Types of Market and Price Determination Under Perfect Competition | ||
| 1.06 | Factors of Production | ||
| 2 | Macro Economics | ||
| 2 | Utility Analysis | ||
| 2.01 | Introduction to Macro Economics | ||
| 2.02 | National Income | ||
| 2.03 | Determinants of Aggregates | ||
| 2.04 | Money | ||
| 2.05 | Commercial Bank | ||
| 2.06 | Central Bank | ||
| 2.07 | Public Economics | ||
| 3.1 | Demand Analysis | ||
| 3.2 | Elasticity of Demand | ||
| 4 | Supply Analysis | ||
| 5 | Forms of Market | ||
| 6 | Index Numbers | ||
| 7 | National Income | ||
| 8 | Public Finance in India | ||
| 9 | Money Market and Capital Market in India | 0 | |
| 10 | Foreign Trade of India | ||
| Total | - | - |
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Syllabus
1: Introduction to Micro and Macro Economics [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
- Branches of Economics
- Father of Econometrics: Ragnar Frisch
- Macroeconomics Vs Microeconomics
1: Micro Economics [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
1.01 Introduction to Micro Economics [Revision]
- Analysis of Market Structure
- Branches of Economics
- Micro Economics - Slicing Method
- Use of Marginalism Principle in Micro Economics
- Micro Economics - Price Theory
- Micro Economic - Price Determination
- Micro Economics - Working of a Free Market Economy
- Micro Economics - International Trade and Public Finance
- Welfare Economics
- Introduction
- Micro Economics - Useful to Government
- Assumption of Micro Economic Analysis
1.02 Consumers Behavior [Revision]
- Basic Concepts of Microeconomics > Utility
- Total Utility and Marginal Utility
- Law of Diminishing Marginal Utility
- Law of Equi-Marginal Utility
- Propensity to Save
- Saving function
- Formula: Average propensity to save
- Formula: Marginal propensity to save
- Relationships between Consumption and Saving Functions
- Deriving Saving Function Graphically
1.03 Analysis of Demand and Elasticity of Demand [Revision]
- Concept of Demand
- Types of Demand
- Factors of Demand
- Demand Curve
- Changes in Demand
- Meaning
- Types
- Concept of Elasticity of Demand
- Types of Elasticity of Demand > Income Elasticity
- Methods of Measuring Price Elasticity of Demand
- Factors Affecting Price Elasticity of Demand
- Determinants of Price Elasticity of Demand
1.04 Analysis of Supply [Revision]
- Law of Supply
- Supply Schedule
- Market Supply Schedule
- Introduction
- Table
- Market Supply Curve
- Market Supply Schedule
1.05 Types of Market and Price Determination Under Perfect Competition [Revision]
- Concept of Market
- Introduction
- Definition: Market
- Essential Market Conditions
- Types of definition of market
- Features of a market
- Real-Life Application
- Key Points: Concept of Market
- Classification of Market Structure
- Broad classification of market structure
- Main market forms
- Key Points: Classification of Market Structure
- Duopoly
- Meaning of Duopoly
- Definition: Duopoly
- Core Idea: Interdependence
- Characteristics of Duopoly
- Real-Life Application
- Key Points: Duopoly
- Equilibrium Price
1.06 Factors of Production [Revision]
- Factors of Production - Feature of Capital
- Factors of Production
- Introduction
- Land
- Labour
- Capital
- Entrepreneurship (Organiser)
- Real-Life Application
- Key Points: Factors of Production
2: Macro Economics [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
2: Utility Analysis [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
- Basic Concepts of Microeconomics > Utility
- Commodities and Their Specific Utility for Individuals
- Total Utility and Marginal Utility
- Law of Diminishing Marginal Utility
- Paradox of Value
- Relationship Between Marginal Utility and Price
- Indifference Curve Analysis by Hicks and Allen
2.01 Introduction to Macro Economics [Revision]
- Branches of Economics
- Allocation of Resource and Economic Variable
2.02 National Income [Revision]
2.03 Determinants of Aggregates [Revision]
- Total Demand for Good and Services
- Concept of Aggregate Demand and Aggregate Supply
- Aggregate Demand and Its Components
- Investment Demand
- Government Demand
- Foreign Demand
- Difference Betweeen Export and Import
- Effect of Population of Consumption Expediture
- Types of Investment Expenditure
- Induced
- Autonomous
- Gross
- Net
- Financial
- Real/Physical
- Micro Eco-Equilibrium
2.04 Money [Revision]
- Concept of Money
- Functions of Money
- Standard of Deferred Payment
- Standard of Transfer Payment
- Money - Store of Value
- Barter system
- Introduction
- Definition: Barter System
- Difficulties of the Barter System
- Real-Life Application
- Key Points: Barter System
- Monetary Payments
- Concept of Good Money
2.05 Commercial Bank [Revision]
- Structure of Money Market in India > Organized Sector
- Commercial Banks
- Introduction
- Definitions: Commercial Bank
- Historical Background of Banking in India
- Reasons for Bank Nationalisation
- Classification of Commercial Banks in India < Public Sector Banks
- Classification of Commercial Banks in India < State Bank of India
- Classification of Commercial Banks in India < Regional Rural Banks
- Classification of Commercial Banks in India < Private Sector Banks
- Classification of Commercial Banks in India < Foreign Banks
- Key Points: Commercial Banks
- Commercial Banks
2.06 Central Bank [Revision]
- Central Bank
- Introduction
- Definitions: Central Bank
- Functions of the Central Bank
- Evolution of Central Banking
- Need for a Central Bank
- Importance in Developing Economies
- Key Points: Central Bank
- Central Bank Function - Banker's Bank
- Central Bank as a Controller of Credit
- Monetary Policy
- RBI as Controller of Credit
- RBI Governor
- Objectives of Credit Control
- Key Points: Central Bank as a Controller of Credit
- Monetary Function of Central Bank
- Issue of Currency Note
- Custodian of Forex Reserve
- Non Monetary Function of Central Bank
- Methods of Credit Control
- Quantitative Methods
- Qualitative Methods
- Key Points: Methods of Credit Control
- Repo Rate and Reverse Repo Rate
- Central Bank Function - Goverment Bank
2.07 Public Economics [Revision]
- Introduction of Public Economics
- Features of Public Economics
- Government Budget
- Objectives of Government Budget
- Features of Government Budget
- Public Economics - Budget (1 Year)(1 April to 31 March)
- Types of Budget
- Taxable Income
- Budgetary Accounting in India
- Budgetary Accounting - Consolidated , Contingency and Public Fund
- Components (Structure) of the Government Budget
- Factor Influencing Government Budget
3.1: Demand Analysis [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
3.2: Elasticity of Demand [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
- Concept of Elasticity of Demand
- Types of Elasticity of Demand > Income Elasticity
- Types of Elasticity of Demand > Cross Elasticity
- Types of Elasticity of Demand > Price Elasticity
- Perfectly Elastic Demand
- Introduction
- Formula
- Graphical Representation
- Perfectly Inelastic Demand
- Introduction
- Formula
- Graphical Representation
- Unitary Elastic Demand
- Introduction
- Formula
- Graphical Representation
- Relatively Elastic Demand
- Introduction
- Formula
- Graphical Representation
- Relatively Inelastic Demand
- Introduction
- Formula
- Graphical Representation
- Perfectly Elastic Demand
- Methods of Measuring Price Elasticity of Demand
- Linear Demand Curve
- Explanation
- Graph
- Non-Linear Demand Curve
- Explanation
- Graph
- Linear Demand Curve
- Factors Influencing the Elasticity of Demand
- Importance of Elasticity of Demand
- Determinants of Price Elasticity of Demand
4: Supply Analysis [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
- Concept of Supply
- Concept of Total Output
- Concept of Stock
- Distinguish between Stock and Supply
- Supply Schedule
- Meaning
- Table
- Graph
- Individual Supply Schedule
- Introduction
- Table
- Individual Supply Curve
- Market Supply Schedule
- Introduction
- Table
- Market Supply Curve
- Determinants of Supply
- Law of Supply
- Variations in Supply
- Meaning
- Types
- Changes in Supply
- Meaning
- Types
- Cost Concepts > Total Costs
- Introduction
- Definition: Total Cost
- Formula: Total Cost
- Definition: Fixed Cost
- Fixed Costs
- Definition: Variable Cost
- Variable Costs
- Relationship Between Costs
- Key Points: Cost Concepts > Total Costs
- Cost Concepts > Average Cost
- Meaning of Average Cost
- Average Fixed Cost
- Average Variable Cost
- Average Total Cost
- Tabular Representation
- Causes of the U-Shaped Cost Curves
- Real-Life Application
- Key Points: Cost Concepts > Average Cost
- Cost Concepts > Marginal Cost
- Meaning of Marginal Cost
- Marginal Cost Formula
- Example
- Table
- Key Characteristics and Relationships
- Real-Life Application
- Key Points: Cost Concepts > Marginal Cost
- Revenue Concepts
- Meaning of Revenue
- Total Revenue (TR)
- Average Revenue (AR)
- Marginal Revenue (MR)
- Behaviour under different market structures
- Total Revenue
- Introduction
- Formula
- Example
- Calculation of TR
- Average Revenue
- Introduction
- Formula
- Example
- Calculation of AR
- Marginal Revenue
- Introduction
- Formula
- Example
5: Forms of Market [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
- Concept of Market
- Introduction
- Definition: Market
- Essential Market Conditions
- Types of definition of market
- Features of a market
- Real-Life Application
- Key Points: Concept of Market
- Classification of Market > Based on Place
- Classification of Market > Based on Time
- Classification of Market > Based on Competition
- Basis of classification
- Perfect competition
- Imperfect competition
- Perfect vs Imperfect competition
- Key Points: Classification of Market > Based on Competition
- Perfect Competition
- Introduction
- Definitions: Perfect Competition
- Features
- Pure competition vs perfect competition
- Assumptions
- Key Points: Perfect Competition
- Price Determination Under Perfect Competition
- Meaning of price determination under perfect competition
- Marshall’s scissors analogy
- Example: Demand and supply schedule for apples
- Diagram: equilibrium price with demand and supply
- Total demand and total supply
- Table: equilibrium between demand and supply
- Equilibrium price of firm and industry under perfect competition
- Key Points: Price Determination Under Perfect Competition
- Imperfect Competition
- Introduction
- Definition: Imperfect Competition
- Economist's contribution
- Conditions leading to imperfect competition
- Real-Life Application
- Key Points: Imperfect Competition
- Monopoly
- Meaning
- Definitions: Monopoly
- Features
- Types
- Price discrimination under monopoly
- Nature of demand and revenue under monopoly
- Costs under monopoly
- Key Points: Monopoly
- Concept of Monopsony
- Introduction
- Definition: Monopsony
- Characteristics of Monopsony
- Short Note: Joan Robinson
- Real-Life Application
- Key Points: Concept of Monopsony
- Oligopoly
- Meaning of Oligopoly
- Definitions: Oligopoly
- Features
- Types
- Classification
- Indeterminacy of Price and Output under Oligopoly
- Reasons for Indeterminate Price and Output
- Real-Life Application
- Key Points: Oligopoly
- Monopolistic Competition
- Introduction
- Definition: Monopolistic competition
- Main Features
- Edward Hastings Chamberlin
- Nature of Demand and Cost Curves
- Real-Life Application
- Key Points: Monopolistic Competition
6: Index Numbers [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
- Index Numbers
- Introduction
- Origin
- Terminologies
- Definition: Index Number
- Features of Index Numbers
- Types of Index Numbers
- Flowchart
- Types
- Index Numbers Used by Government of India
- Significance of Index Numbers
- Rebasing of GDP, IIP, and WPI
- Construction of Index Numbers
- Steps Involved
- Methods of Constructing Index Numbers > Simple Index Number
- Introduction
- Application
- Price Index Number
- Formula
- Steps
- Example
- Quantity Index Number
- Formula
- Steps
- Example
- Value Index Number
- Formula
- Steps
- Example
- Methods of Constructing Index Numbers > Weighted Index Number
- Laaspeyre’s Price Index Number
- Introdcution of Laspeyres
- Formula
- Steps
- Example
- Paasche’s Price Index Number
- Introdcution of Paasche
- Formula
- Steps
- Example
- Laaspeyre’s Price Index Number
- Concepts of Sensex and Nifty
- Crops in India's Agricultural and Industrial Production Index
- Limitations of Index Numbers
7: National Income [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
- Concept of National Income
- Introduction
- Classical Definitions
- Keynes Approach to National Income / Neo-Classical Approach
- Modern Definitions
- Features of National Income
- Circular Flow of National Income
- Introduction
- Circular Flow of Income in Different Sector Economies
- Two Sector Model of Circular Flow of National Income
- Introduction
- Two Sector Model
- Formula
- Three Sector Model of Circular Flow of National Income
- Introduction
- Formula
- Four Sector Model of Circular Income
- Introduction
- Formula
- Different Concepts of National Income
- Concepts Related to National Income
- Formula of GDP
- Formula of NDP
- Formula of GNP
- Formula of NNP
- Importance of GDP
- Importance of NDP
- Importance of GNP
- Importance of NNP
- Concept of Green GNP
- Introduction
- Characteristics
- Measurement
- Countries Adopting the Green GNP Concept
- Methods of Measurement of National Income
- Concept of Mixed income
- Difficulties in the Measurement of National Income
- Theoretical Difficulties or Conceptual Difficulties
- Practical Difficulties or Statistical Difficulties
- Importance of National Income Analysis
8: Public Finance in India [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
- Public Finance
- Introduction
- Functions of Government
- Meaning
- Definitions
- Difference Between Public Finance and Private Finance
- Structure of Public Finance > Public Expenditure
- Explanation
- Classification
- Reasons for Growth in Public Expenditure
- Recent trends in Public Expenditure in India
- Growth of Public Expenditure in Recent Times
- Components of Public Expenditure
- Important Social Welfare Schemes by the Government
- Structure of Public Finance > Public Revenue
- Meaning
- Sources of Public Revenue
- Public Revenue > Taxes
- Definition
- Characteristics
- Principles of Taxation
- Types of Taxes
- Direct Tax
- Introduction
- Classification
- Indirect Tax
- Introduction
- Direct Tax
- Public Revenue > Non-tax Revenue
- Structure of Public Finance > Public Debt
- Meaning
- Types
- Internal Debt VS External Debt
- Classification of Activities
- Structure of Public Finance > Fiscal Policy
- Structure of Public Finance > Financial Administration
- GST(Economics)
- Government Budget
- Revenue and Capital Budgets
- Revenue Budget
- Capital Budget
- Types of Budget
- Importance of Budget
9: Money Market and Capital Market in India [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
- Concept of Financial Market
- Structure of Money Market in India > Organized Sector
- Reserve Bank of India (RBI)
- Introduction
- Popular Definitions of Central Bank
- Role and Control of the Reserve Bank of India
- Functions of RBI in Relation to Banks and NBFCs
- Central Banks of Major Economies
- Commercial Banks
- Introduction
- Definitions: Commercial Bank
- Historical Background of Banking in India
- Reasons for Bank Nationalisation
- Classification of Commercial Banks in India < Public Sector Banks
- Classification of Commercial Banks in India < State Bank of India
- Classification of Commercial Banks in India < Regional Rural Banks
- Classification of Commercial Banks in India < Private Sector Banks
- Classification of Commercial Banks in India < Foreign Banks
- Key Points: Commercial Banks
- Co-operative Banks
- Introduction
- Three Tier Co-operative Credit Structure
- Reserve Bank of India (RBI)
- Structure of Money Market in India > Unorganized Sector
- Indigenous bankers
- Money lenders
- Unregulated Non-Bank Financial Intermediaries
- Flowchart
- Money Market
- Role of Money Market in India
- Problems of the Indian Money Market
- Reforms Introduced in the Money Market
- Recent Developments in Banking Sector
- Capital Market
- Structure of Capital Market in India
- Flowchart
- Role of Capital Market in India
- Problems of the Capital Market
- Regional Stock Exchanges in India
- Reforms Introduced in the Capital Market
- Economic Policy in an Economy
10: Foreign Trade of India [Revision]
Maharashtra State Board 12th Standard Board Exam Economics Syllabus
- India’s Trade Relations Before 1947
- Internal Trade
- Introduction
- Types of Internal Trade
- Importance
- Channels of Distribution: Flow Chart
- Real Life Application
- Key Point Summary
- Foreign Trade of India
- Types of Foreign Trade
- Import Trade
- Export Trade
- Entrepot Trade
- Role of Foreign Trade
- India’s Recent Trade Relations with China and Japan
- Composition of India’s Foreign Trade
- India’s Foreign Trade Share in GNI
- Composition of India's Imports
- Composition of India's Exports
- Direction of India’s Foreign Trade
- Meaning
- Direction of India's Imports
- Direction of India's Exports
- Trends in India’s Foreign Trade since 2001
- Introduction
- Recent Trends in Exports
- Trends in Imports
- Concept of Balance of Payments
- Balance of Trade
- Member Nations of OPEC and OECD
