Maharashtra State BoardHSC Arts 12th Board Exam
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Economics 12th Board Exam HSC Arts Maharashtra State Board Topics and Syllabus

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Maharashtra State Board Syllabus For 12th Board Exam Economics: Knowing the Syllabus is very important for the students of 12th Board Exam. Shaalaa has also provided a list of topics that every student needs to understand.

The Maharashtra State Board 12th Board Exam Economics syllabus for the academic year 2021-2022 is based on the Board's guidelines. Students should read the 12th Board Exam 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 Maharashtra State Board 12th Board Exam Economics Syllabus pdf 2021-2022. They will also receive a complete practical syllabus for 12th Board Exam Economics in addition to this.

Academic year:
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I Micro Economics
I Introduction to Micro and Macro Economics

Introduction to Micro and Macro Economics

Micro Economics

  • Introduction
  • Meaning
  • Definitions
  • Scope of Micro Economics
  1. Theory of Product Pricing
  2. Theory of Factor Pricing
  3. Theory of Economic Welfare
  • Features of Micro Economics
  1. Study of Individual Units
  2. Price Theory
  3. Partial Equilibrium
  4. Based on Certain Assumptions
  5. Slicing Method
  6. Use of Marginalism Principle
  7. Analysis of Market Structure
  8. Limited Scope
  • Importance of Micro Economics
  1. Price Determination
  2. Free Market Economy
  3. Foreign Trade
  4. Economic Model Building
  5. Business Decisions
  6. Useful to Government
  7. Basis of Welfare Economics

Macro Economics

  • Introduction
  • Meaning
  • Definitions
  • Scope of Macro Economics
  1. Theory of Income and Employment
  2. Theory of General Price Level and Inflation
  3. Theory of Growth and Development
  4. Macro Theory of Distribution
  • Features of Macro Economics
  1. Study of Aggregates
  2. Income Theory
  3. General Equilibrium Analysis
  4. Interdependence
  5. Lumping Method
  6. Growth Models
  7. General Price Level
  8. Policy-oriented
  • Importance of Macroeconomics
  1. The functioning of an Economy
  2. Economic Fluctuations
  3. National Income
  4. Economic Development
  5. Performance of an Economy
  6. Study of Macro economic Variables
  7. Level of Employment
102 Consumers Behavior
103 Analysis of Demand and Elasticity of Demand
104 Analysis of Supply
105 Types of Market and Price Determination Under Perfect Competition
106 Factors of Production
II Utility Analysis

Utility Analysis

  • Introduction
  • Features of Utility
  1. Relative concept
  2. Subjective concept
  3. Ethically neutral concept
  4. Utility differs from usefulness
  5. Utility differs from pleasure
  6. Utility differs from satisfaction
  7. Measurement of utility is hypothetical
  8. Utility is multi-purpose
  9. Utility depends on the intensity of want
  10. Utility is the basis of demand
  • Types of Utility
  1. Form utility
  2. Place utility
  3. Service utility
  4. Knowledge utility
  5. Possession utility
  6. Time utility

Concepts of Utility

  1. Total Utility (TU)
  2. Marginal Utility (MU)
  • Relationship between Total Utility and Marginal Utility

Law of Diminishing Marginal Utility

  • Introduction
  • Statement of the Law
  • Assumptions
  • Explanation of the Diagram
  • Exceptions to the Law of Diminishing Marginal Utility

Criticisms of the Law

  • Significance of the Law

Relationship between Marginal Utility and Price

II Macro Economics
202 National Income
  • Concept of National Income 
    • Gross Domestic Product (GDP)
    • Gross National Product (GNP)
    • Net National Product (NNP) (at Market price)
    • NNP at Factor cost
    • Personal Income
    • Disposable Income
    • Per Capita Income
    • Real Income
    • GDP deflator
205 Commercial Bank
  • Commercial Banks 
    • Functions of Commercial Banks
    1. Primary Functions
    2. Secondary Functions
    3. Other Functions
    • Mechanism / Technique of Credit Creation by Commercial Banks
    • Primary / Passive Deposit and Derived / Active Deposit
    •  Role of Commercial Banks in Economic Development of a Country
    1. Capital Formation
    2. Creation of Credit
    3.  Channelizing the Funds towards Productive Investment
    4. Encouraging Right Type of Industries
    5. Banks Monetize Debt
    6. Finance to Government
    7. Employment Generation
    8. Banks Promote Entrepreneurship
CCCI Demand Analysis

Demand Analysis

  • Introduction
  • Meaning
  • Definition
  • Demand Schedule
  • Individual Demand Schedule
  • Individual Demand Curve
  • Market Demand Schedule
  • Market Demand Curve
  • Reasons justifying downward sloping demand curve
  • Types of Demand
  • Determinants of Demand

Law of Demand

  • Introduction
  • Statement of the Law
  • Assumptions
  • Demand schedule

Exceptions to the Law of Demand

  • Variations in Demand
  • Changes in Demand
CCCII Elasticity of Demand

Elasticity of Demand

  • Introduction
  • Concept of Elasticity of Demand

Types of Elasticity of Demand

  1. Income elasticity
  2. Cross elasticity
  3. Price elasticity

Types of Price Elasticity of Demand

Methods of Measuring Price Elasticity of Demand

Factors influencing the elasticity of demand

Importance of Elasticity of Demand

IV Supply Analysis

Supply Analysis

Concept of Total Output

Concept of Stock

Concept of Supply

  • Meaning of Supply
  • Definition of Supply
  • Supply schedule
  • Individual Supply Curve
  • Market Supply Curve
  • Determinants of Supply

Law of Supply

  • Introduction
  • Statement of the Law
  • Assumptions of the law

Exceptions to the Law of Supply

  • Variations in Supply
  • Changes in Supply

Concepts of Cost

Concept of Revenue

V Forms of Market

Forms of Market

  • Introduction
  • Definition

Classification of Market

  1. On the basis of place
  2. On the basis of time
  3. On the basis of Competition
  1. Perfect Competition
  2. Imperfect Competition
  1. Monopoly
  2. Oligopoly
  3. Monopolistic competition
VI Index Numbers

Index Numbers

  • Introduction
  • Definitions
  • Features of Index Numbers
  • Types of Index numbers

Significance of Index Numbers in Economics

Construction of Index Numbers

  • Methods of Constructing Index Numbers
  • Simple Index Number
  • Weighted Index Number
  1. Laaspeyre’s Price Index Number
  2. Paasche’s Price Index Number

Limitations of index numbers

VII National Income

National Income

  • Introduction
  • Meaning
  • Definitions
  • Features of National Income
  • Importance of National Income
  • Circular Flow of National Income
  • Two sector model of Circular flow of National Income

Different Concepts of National Income

  • Methods of Measurement of National Income
  • Difficulties in the Measurement of National Income
  1. Theoretical Difficulties or Conceptual Difficulties
  2. Practical Difficulties or Statistical Difficulties
VIII Public Finance in India

Public Finance in India

  • Introduction
  • functions of the government
  • Meaning and Nature of Public Finance
  • Definitions of Public Finance
  • Differences Between Public Finance and Private Finance

Structure of Public Finance


  • Public Expenditure
  • Public Revenue
  1. Taxes
  2. Non-tax Revenue
  • Public Debt
  1. Internal
  2. External
  • Fiscal Policy
  • Financial Administration
  • Government Budget
  • Revenue and Capital Budgets
  • Types of Budget
  • Importance of Budget
IX Money Market and Capital Market in India

Money Market in India

  • Structure of Money Market in India

Capital Market in India

  • Structure of Capital Market in India
  • Role of Capital Market in India
  • Problems of the Capital Market
  • Reforms introduced in the Capital Market
X Foreign Trade of India

Internal Trade

Foreign Trade of India

  • Introduction
  • Meaning of Foreign Trade
  • Definition
  • Types of foreign trade
  • Role of Foreign Trade

Composition and Direction of India’s foreign trade

Trends in India’s foreign trade since 2001

  • Recent Trends in Exports
  • Trends in Imports

Concept of Balance of payments

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