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Eco HSC Commerce (English Medium) 12th Standard Board Exam Maharashtra State Board Syllabus 2026-27

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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:
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Syllabus

1: Micro Economics [Revision]

Maharashtra State Board 12th Standard Board Exam Economics Syllabus

1: Introduction to Micro and Macro Economics [Revision]

Maharashtra State Board 12th Standard Board Exam Economics Syllabus
  • Branches of Economics  
    • Introduction
    • Types of Economics: Flowchart
    • Important Economist: Ragnar Frisch
    • Real-Life Example
    • Key Point Summary
    • Microeconomics  
      • Introduction
      • Definition: Microeconomics
      • Scope  
      • Features: Flowchart  
      • Importance: Flowchart
      • Limitations
      • Subject Matter of Microeconomics
      • Usefulness of Microeconomics
      • Real-Life Application
      • Key Point Summary
    • Macroeconomics  
      • Introduction
      • Definition: Macroeconomics
      • Basic Concepts in Macroeconomics
      • Subject Matter of Macroeconomics
      • Scope
      • Features: Flowchart
      • Importance
      • Limitations
      • Real-Life Application
      • Key Point Summary
  • Father of Econometrics: Ragnar Frisch  
  • Micro Economics VS Macro Economics  
    • Difference Between Micro Economics and Macro Economics
    • Real-Life Application
    • Key Point Summary
1.01 Introduction to Micro Economics [Revision]
  • Analysis of Market Structure  
  • Branches of Economics  
    • Microeconomics  
      • Introduction
      • Definition: Microeconomics
      • Scope  
      • Features: Flowchart  
      • Importance: Flowchart
      • Limitations
      • Subject Matter of Microeconomics
      • Usefulness of Microeconomics
      • Real-Life Application
      • Key Point Summary
  • 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  
    • Introduction
    • Definition: Utility
    • Features
    • Types: Flowchart
    • Real-Life Application
    • Key Point Summary
  • Total Utility and Marginal Utility  
    • Introduction
    • Definition: Marginal Utility
    • Definition: Total Utility
    • Total Utility vs. Marginal Utility 
    • Formula: Total Utility
    • Formula: Marginal Utility
    • Formula: Marginal Utility When More Than One Unit is Added
    • Types of Marginal Utility
    • Real-Life Application
    • Key Points: Total Utility and Marginal Utility
  • Law of Diminishing Marginal Utility  
    • Definitions: Law of Diminishing Marginal Utility
    • Statement of the law
    • Tabular Representation
    • Diagram
    • Explanation
    • Assumptions
    • Importance
    • Exception
    • Key Point Summary
  • Law of Equi-Marginal Utility  
    • Introduction
    • Explanation
    • Assumptions
    • Utility Table
    • Steps in Consumer Decision-Making
    • Stepwise Example: Spending on Mangoes and Oranges
    • Diagram-Based Explanation
    • The Law in Modern Terms ("Law of Proportionality")
    • Key Point Summary
  • 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  
    • Introduction 
    • Meaning
    • Definition: Want
    • Definitions: Demand
    • Formula: Demand
    • Features
    • Micro View: Individual Demand 
    • Macro View: Aggregate Demand
    • Real-Life Application
    • Key Point Summary
  • Types of Demand  
    • Individual or Market Demand
    • Ex Ante and Ex Post Demand
    • Joint Demand
    • Derived Demand
    • Composite Demand
    • Price Demand
    • Income Demand
    • Cross Demand
    • Direct Demand
    • Alternative Demand
    • Competitive Demand
    • Key Point Summary
  • Factors of Demand  
  • Demand Curve  
    • Introduction
    • Demand Schedule to Demand Curve
    • Application
    • Real-Life Application
    • Key Point Summary
  • Changes in Demand  
    • Meaning
    • Types 
  • Concept of Elasticity of Demand  
    • Introduction
    • Definition: Elasticity of Demand
    • Elasticity Types
    • Key Points: Concept of Elasticity of Demand
  • Types of Elasticity of Demand > Income Elasticity  
    • Introduction
    • Definition: Income Elasticity
    • Formula: Income Elasticity of Demand
    • Example
    • Types of Income Elasticity of Demand
    • Importance
    • Real-Life Application
    • Key Points: Income Elasticity
  • Methods of Measuring Price Elasticity of Demand  
    • Total Expenditure Method
    • Example: Total Expenditure Method
    • Proportionate (Percentage) Method
    • Example Table: Proportionate (Percentage) Method
    • Point Elasticity Method
    • Elasticity at Different Points
    • Arc Elasticity Demand
    • Example: Arc Elasticity Method
    • Revenue Method
    • Example: Revenue Method
    • Real-Life Applications
    • Key Points: Methods of Measuring Price Elasticity of Demand
  • Factors Affecting Price Elasticity of Demand  
    • Introduction
    • Flowchart
  • Determinants of Price Elasticity of Demand  
1.04 Analysis of Supply [Revision]
  • Law of Supply  
    • Introduction
    • Definition: Law of Supply
    • Main Points
    • Supply Schedule
    • Statement of the Law of Supply
    • Supply Curve
    • Assumptions 
    • Exceptions 
    • Real-Life Application
    • Key Points: Law of Supply
  • 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  
    • Introduction
    • Definition: Utility
    • Features
    • Types: Flowchart
    • Real-Life Application
    • Key Point Summary
  • Commodities and Their Specific Utility for Individuals  
  • Total Utility and Marginal Utility  
    • Introduction
    • Definition: Marginal Utility
    • Definition: Total Utility
    • Total Utility vs. Marginal Utility 
    • Formula: Total Utility
    • Formula: Marginal Utility
    • Formula: Marginal Utility When More Than One Unit is Added
    • Types of Marginal Utility
    • Real-Life Application
    • Key Points: Total Utility and Marginal Utility
  • Law of Diminishing Marginal Utility  
    • Definitions: Law of Diminishing Marginal Utility
    • Statement of the law
    • Tabular Representation
    • Diagram
    • Explanation
    • Assumptions
    • Importance
    • Exception
    • Key Point Summary
  • 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  
    • Macroeconomics  
      • Introduction
      • Definition: Macroeconomics
      • Basic Concepts in Macroeconomics
      • Subject Matter of Macroeconomics
      • Scope
      • Features: Flowchart
      • Importance
      • Limitations
      • Real-Life Application
      • Key Point Summary
  • Micro Economics VS Macro Economics  
    • Difference Between Micro Economics and Macro Economics
    • Real-Life Application
    • Key Point Summary
  • Allocation of Resource and Economic Variable  
2.02 National Income [Revision]
2.03 Determinants of Aggregates [Revision]
2.04 Money [Revision]
  • Concept of Money  
    • Introduction
    • Definition: Money
    • Features: Flowchart
    • Real-Life Application
    • Key Point Summary
  • Functions of Money  
    • Primary Functions
    • Secondary Functions
    • Contingent Functions
    • Real-Life Application
    • Key Point Summary
  • Standard of Deferred Payment  
  • Standard of Transfer Payment  
  • Money - Store of Value  
  • Barter system  
    • Introduction
    • Definition: Barter System
    • Difficulties in Barter System
    • Real-Life Application
    • Key Point Summary
  • Monetary Payments  
  • Concept of Good Money  
2.05 Commercial Bank [Revision]
2.06 Central Bank [Revision]
2.07 Public Economics [Revision]

3.1: Demand Analysis [Revision]

Maharashtra State Board 12th Standard Board Exam Economics Syllabus
  • Concept of Demand  
    • Introduction 
    • Meaning
    • Definition: Want
    • Definitions: Demand
    • Formula: Demand
    • Features
    • Micro View: Individual Demand 
    • Macro View: Aggregate Demand
    • Real-Life Application
    • Key Point Summary
  • Demand Schedule  
    • Introduction
    • Types of Demand Schedules
    • Key Point Summary
    • Individual Demand Schedule  
      • Introduction
      • Example 1: Apples Demand Schedule
      • Example 2: Cotton Demand Schedule
      • Real-Life Application
      • Key Point Summary
    • Market Demand Schedule  
      • Meaning
      • Example: Market Demand for Apples
      • Calculation Method
      • Real-Life Application
      • Key Point Summary
  • Demand Curve  
    • Introduction
    • Demand Schedule to Demand Curve
    • Application
    • Real-Life Application
    • Key Point Summary
    • Market Demand Curve  
      • Introduction
      • Derivation of Market Demand Curve
      • Real-Life Application
      • Key Point Summary
  • Reasons for the Downward Slope of the Demand Curve  
    • Introduction
    • Reasons for Downward Slope
    • Real-Life Application
    • Key Point Summary
  • Types of Demand  
    • Individual or Market Demand
    • Ex Ante and Ex Post Demand
    • Joint Demand
    • Derived Demand
    • Composite Demand
    • Price Demand
    • Income Demand
    • Cross Demand
    • Direct Demand
    • Alternative Demand
    • Competitive Demand
    • Key Point Summary
  • Determinants of Demand  
    • Major Determinants of Demand
    • Types of Goods and Income Effect
    • Relation between Income and Demand
    • Relation between Price and Demand for Related Goods
    • Key Point Summary
  • Law of Demand  
    • Introduction
    • Statement
    • Formula: Law of Demand
    • Definition: Law of Demand
    • Assumptions
    • Tabular Representation
    • Demand Curve
    • Key Point Summary
  • Exceptions to the Law of Demand  
    • Introduction
    • Major Exceptions With Examples
    • Key Point Summary
  • Variations in Demand  
    • Meaning
    • Types 
  • Changes in Demand  
    • Meaning
    • Types 

3.2: Elasticity of Demand [Revision]

Maharashtra State Board 12th Standard Board Exam Economics Syllabus

4: Supply Analysis [Revision]

Maharashtra State Board 12th Standard Board Exam Economics Syllabus
  • Concept of Supply  
    • Introduction 
    • Features
    • Types of Supply
    • Difference Between Stock and Supply
    • Factors Affecting Supply
    • Supply Schedule
    • Supply Curve
    • Distinction: Supply vs. Quantity Supplied
    • Real-Life Application
    • Key Points: Concept of Supply
  • Concept of Total Output  
  • Concept of Stock  
  • Distinguish between Stock and Supply  
  • Supply Schedule  
    • Meaning
    • Table
    • Graph
  • Determinants of Supply  
    • Introduction
    • Main Determinants of Supply
    • Supply Function
    • Determinants of Elasticity of Supply
    • Importance of Elasticity of Supply
    • Real-Life Application
    • Key Point Summary
  • Law of Supply  
    • Introduction
    • Definition: Law of Supply
    • Main Points
    • Supply Schedule
    • Statement of the Law of Supply
    • Supply Curve
    • Assumptions 
    • Exceptions 
    • Real-Life Application
    • Key Points: 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

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

7: National Income [Revision]

Maharashtra State Board 12th Standard Board Exam Economics Syllabus

8: Public Finance in India [Revision]

Maharashtra State Board 12th Standard Board Exam Economics Syllabus

9: Money Market and Capital Market in India [Revision]

Maharashtra State Board 12th Standard Board Exam Economics Syllabus

10: Foreign Trade of India [Revision]

Maharashtra State Board 12th Standard Board Exam Economics Syllabus
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