CBSE Class 12 Economics Syllabus - Free PDF Download
CBSE Syllabus 2026-27 Class 12: The CBSE Class 12 Economics Syllabus for the examination year 2026-27 has been released by the Central Board of Secondary Education, CBSE. 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 CBSE Class 12 Economics Board Exam will entirely be based on the most recent syllabus. Therefore, students must thoroughly understand the new CBSE syllabus to prepare for their annual exam properly.
The detailed CBSE Class 12 Economics Syllabus for 2026-27 is below.
Academic year:
CBSE Class 12 Economics Revised Syllabus
CBSE Class 12 Economics Course Structure 2026-27 With Marking Scheme
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Syllabus
1: Introductory Macroeconomics [Revision]
CBSE Class 12 Economics Syllabus
1 National Income and Related Aggregates [Revision]
- Macroeconomics Vs Microeconomics
- Representative Goods and Sectors
- Macroeconomic Agents and Government Role
- Emergence of Macroeconomics
- Context of the Present Book of Macroeconomics
- Meaning of Economic Wealth and Final Goods
- Stocks, Flows, and Depreciation
- Capital Formation, Trade-off & Circular Flow of Income
- Circular Flow of Income and Methods of Calculating National Income
- Methods of Measurement of National Income
- Factor Cost, Basic Prices and Market Prices
- Some Macroeconomic Identities
- National Disposable Income
- Private Income
- National Income Aggregates
- Real GDP and Nominal GDP
- GDP and Welfare
2 Money and Banking [Revision]
- Concept of Money
- Functions of Money
- Demand for Money and Supply of Money
- Money Creation by Banking System
- Limits to Credit Creation and Money Multiplier
- Policy Tools To Control Money Supply
- Demand and Supply for Money : A Detailed Discussion
- Various Measures of Supply of Money
- Narrow and Broad Money
- Components of New Economic Policy
3 Determination of Income and Employment [Revision]
4 Government Budget and the Economy [Revision]
5 Balance of Payments [Revision]
2: Indian Economic Development [Revision]
CBSE Class 12 Economics Syllabus
1 Development Experience (1947-90) and Economic Reforms since 1991 [Revision]
- India's Economy Before Independence
- Low Level of Economic Development Under the Colonial Rule
- Agricultural Sector in India
- Industrial Sector
- Foreign Trade of India
- Demographic Condition
- Occupational Structure
- Infrastructure
- Post-Independence Economic Systems and Planning
- Five Year Plans (FYP)
- Agriculture
- Industry and Trade
- Trade Policy: Import Substitution
- The 1991 Economic Crisis and Reforms
- Background of the New Economic Policy
- Components of New Economic Policy
- World Trade Organisation (WTO)
- Impact of the Economic Reforms
2 Current Challenges Facing Indian Economy [Revision]
- Concept of Human Capital
- Sources of Human Capital
- Human Capital and Economic Growth
- Human Capital and Human Development
- State of Human Capital Formation in India
- Growth of Education Sector in India
- Challenges and Future Prospects in Education
- Rural Development in India
- Credit and Marketing in Rural Areas
- Agricultural Market System
- Diversification into Productive Activities
- Sustainable Development and Organic Farming
- The Nature and Importance of Work in Society
- Workers and Employment
- Participation of People in Employment
- Self-employed and Hired Workers
- Employment in Firms, Factories and Offices
- Growth and Changing Structure of Employment
- Informalisation of Indian Workforce
- Concept of Unemployment
- Government and Employment Generation
- Environment and Sustainable Development in India
- State of India’s Environment
- Concept of Sustainable Development
- Strategies for Sustainable Development
3 Development Experience of India – a Comparison with Neighbours [Revision]
3: Introductory Microeconomics [Revision]
CBSE Class 12 Economics Syllabus
1 Introduction [Revision]
- A Simple Economy
- Central Problems of an Economy
- What is produced and in what quantities?
- How are these goods produced?
- For whom are these goods produced?
- Concepts of Production Possibility Frontier
- Introduction
- Example
- Organisation of Economic Activities
- The Centrally Planned Economy
- The Market Economy
- Positive and Normative Economics
- Macroeconomics Vs Microeconomics
2 Theory of Consumer Behaviour [Revision]
- Consumer Behaviour: The Problem of Choice
- Basic Concepts of Microeconomics > Utility
- Cardinal Approach (Utility Analysis)
- Derivation of Demand Curve in the Case of a Single Commodity
- Ordinal Utility Analysis/Indifference Curve Analysis
3 Production and Costs [Revision]
- Production Function
- Basics of Production Theory
- Variation of Output in the Short-Run Returns to a Factor
- Relation Between Total, Average and Marginal Product
- Law of Variable Proportions
- Average and Marginal Physical Products
- Changes in Production
- Cost - Fixed Cost
- Cost -variable Cost
- Behaviour of Cost in the Short - Run
- Concept and Importance
- Types of Cost Functions
- Fixed vs. Variable Costs
- Real-Life Application
- Key Points: Behaviour of Cost in the Short - Run
- Relationship Between Average Variable Cost and Average Total Cost and Marginal Cost
- Concept of Opportunity Cost
- Revenue Concepts
- Marginal Revenue
- Introduction
- Formula
- Example
- Marginal Revenue
- Producer's Equilibrium
- Meaning of a producer
- Meaning of producer's equilibrium
- Conditions of producer's equilibrium
- Producer's equilibrium
- Key Points: Producer's Equilibrium
- Law of Supply
- Supply Schedule
- Market Supply Schedule
- Introduction
- Table
- Market Supply Curve
- Market Supply Schedule
- Distinguish between Stock and Supply
- Determinants of Supply
- Movements Along and Shifts in Supply Curve
- Measurement of Elasticity of Supply > Percentage Method
- Methods of Measurement of National Income
- 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
- The Law of Diminishing Marginal Product
- Shapes of Product Curves
Shapes of Total Product, Marginal Product and Average Product Curves
- Costs in Long Run Period
- Introduction
- Definition: Long Run
- Definition: Long Run Total Cost
- Long Run Total Cost
- Definition: Long Run Average Cost
- Long Run Average Cost
- Names for LAC
- Relationship: LAC and SAC
- Definition: Long Run Marginal Cost
- Long Run Marginal Cost
- Relation Between LMC and LAC
- Key Points: Costs in Long Run Period
- Returns to Scale
4 The Theory of the Firm 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
- Market Equilibrium
- Determination of Market Equilibrium
- Effects of Changes (Shifts) in Demand on Equilibrium Price and Equilibrium Quantity
- Classification of Market > Based on Competition
- Perfect Competition
- Introduction
- Definitions: Perfect Competition
- Features
- Pure competition vs perfect competition
- Assumptions
- Key Points: Perfect Competition
- Perfect Competition
- Imperfect Competition
- Introduction
- Definition: Imperfect Competition
- Economist's contribution
- Conditions leading to imperfect competition
- Real-Life Application
- Key Points: Imperfect Competition
- 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
- Classification of Market Structure
- Broad classification of market structure
- Main market forms
- Key Points: Classification of Market Structure
- Market Forms - Perfect Oligopoly
- Market Forms - Imperfect Oligopoly
- Equilibrium Price
- Applications of Tools of Demand and Supply Price Control
- Price Ceiling
- Maximum and Minimum
- Price Floor
- Revenue Concepts
- Meaning of Revenue
- Total Revenue (TR)
- Average Revenue (AR)
- Marginal Revenue (MR)
- Behaviour under different market structures
- Profit Maximisation Objective
- Introduction: Profit-maximisation objective
- Definition of Profit
- Normal profit and pure (economic) profit
- Role of profit in resource allocation
- Equilibrium of the firm and profit maximisation rules
- Economist note: Maurice Allais
- Real-Life Application
- Key Points: Profit Maximisation Objective
- Determinants of a Firm’s Supply Curve
Determinants of a Firm’s Supply Curve
- Technological Progress
- Input Prices
- Supply Schedule
- Market Supply Schedule
- Introduction
- Table
- Market Supply Curve
- Market Supply Schedule
- Price Elasticity of Supply
5 Market Equilibrium [Revision]
- Simple Monopoly in the Commodity Market
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
Other Non-perfectly Competitive Markets
- Monopolistic Competition
- How do Firms behave in Oligopoly?
