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Economics Class 12 CBSE (Arts) CBSE Topics and Syllabus

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CBSE Syllabus For Class 12 Economics: Knowing the Syllabus is very important for the students of Class 12. Shaalaa has also provided a list of topics that every student needs to understand.

The CBSE Class 12 Economics syllabus for the academic year 2021-2022 is based on the Board's guidelines. Students should read the Class 12 Economics Syllabus to learn about the subject's subjects and subtopics.

Students will discover the unit names, chapters under each unit, and subtopics under each chapter in the CBSE Class 12 Economics Syllabus pdf 2021-2022. They will also receive a complete practical syllabus for Class 12 Economics in addition to this.

Academic year:
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Syllabus

I Introductory Macroeconomics
1.1 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 andits 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.
1.2 National Income and Related Aggregates
  • Some basic concepts: consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation.
  • Circular flow of income; 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 NOP) - at market price, at factor cost; National Disposable Income (gross and net), Private Income, Personal Income and Personal Disposable Income; Real and Nominal GDP. 
  • GDP and Welfare
1.4 Money and Banking
  • Money -its meaning and functions.
  • 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.
1.5 Balance of Payments
  • Balance 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.
1.6 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.
II Introductory Microeconomics
II Indian Economic Development
2.1 Introduction
2.2 Consumer Equilibrium and Demand
  • Consumer's equilibrium - meaning of utility, marginal utility, law of diminishing marginal utility, conditions of consumer's equilibrium using marginal utility analysis.
  • Indifference curve analysis of consumer's equilibrium-the consumer's budget (budget set and budget line), preferences of the consumer (indifference curve,indifference map) and conditions of consumer's equilibrium.
  • Demand, market demand, determinants of demand, demand schedule, demand curve and its slope, movement along and shifts in the demand curve; price elasticity of demand - factors affecting price elasticity of demand; measurement of price elasticity of demand - (a) percentage­ change method and (b) geometric method (linear demand curve); relationship between price elasticity of demand and total expenditure.
2.3 Producer Behaviour and Supply
  • Meaning of Production function - Short-Run and Long-Run
  • Total Product, Average Product and Marginal Product. Returns to a Factor Cost: Short run costs - total cost, total fixed cost, total variable cost; Average cost; Average fixed cost, average variable cost and marginal cost-meaning and their relationships.
  • Revenue - total, average and marginal revenue - meaning and their relationships.
  • Producer's equilibrium-meaning and its conditionsin terms of marginal revenue-marginal cost.
  • Supply, market supply, determinants of supp y, supply schedule, supply curve andits slope, movements along and shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply - (a) percentage-change method and (b) geometric method.
2.4 Forms of Market and Price Determination
  • Perfect competition - Features; Determination of market equilibrium and effects of shifts in demand and supply.
  • Other Market Forms - monopoly, monopolistic competition, oligopoly - their meaning and features.
  • Simple Applications of Demand and Supply: Price ceiling, price floor.
2.5 Non - Competitive Markets

Simple Monopoly in the Commodity Market

  • Market Demand Curve is the Average Revenue Curve
  • Total, Average and Marginal Revenues
  • Marginal Revenue and Price Elasticity of Demand
  • Short Run Equilibrium of the Monopoly Firm

Other Non-perfectly Competitive Markets

  • Monopolistic Competition
  • How do Firms behave in Oligopoly?
2.02 Indian Economy 1950-1990
2.03 Liberalisation, Privatisation and Globalisation : an Appraisal
2.04 Poverty
2.05 Human Capital Formation in India
2.06 Rural Development
2.08 Infrastructure
  • Infrastructure 
  • Relevance of Infrastructure 
  • The State of Infrastructure in India 
  • Energy 
    • Sources of Energy
    • Non-conventional Sources of Energy
    • Consumption Pattern of Commercial Energy
    • Power/Electricity
    • Some Challenges in the Power Sector
    • Kinetic energy
    • Work–Kinetic Energy Theorem
    • Relation between Momentum and Kinetic Energy
    • Potential Energy
    • Potential energy near the surface of the Earth
    • Elastic Potential Energy
    • Conservative and non-conservative forces
    • Law of conservation of energy
    • Motion in a vertical circle
  • Health 
    • State of Health Infrastructure
    • Private Sector Health Infrastructure
    • Indian Systems of Medicine (ISM)
    • Indicators of Health and Health Infrastructure—A Critical Appraisal
    • Urban-Rural and Poor-Rich Divide
    • Women’s Health
2.09 Environment and Sustainable Development
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