CISCE Class 12 Economics Syllabus - Free PDF Download
CISCE Syllabus 2026-27 Class 12: The CISCE Class 12 Economics Syllabus for the examination year 2026-27 has been released by the Council for the Indian School Certificate Examinations, CISCE. 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 CISCE Class 12 Economics Board Exam will entirely be based on the most recent syllabus. Therefore, students must thoroughly understand the new CISCE syllabus to prepare for their annual exam properly.
The detailed CISCE Class 12 Economics Syllabus for 2026-27 is below.
Academic year:
CISCE Class 12 Economics Revised Syllabus
CISCE Class 12 Economics Course Structure 2026-27 With Marking Scheme
| # | Unit/Topic | Marks | Marks with options |
|---|---|---|---|
| 1 | Microeconomic Theory | 40 | |
| 1 | Demand | ||
| 2 | Elasticity of Demand | ||
| 3 | Supply | ||
| 4 | Market Mechanism | ||
| 5 | Concepts of Production | ||
| 6 | Cost and Revenue | ||
| 7 | Main Market Forms and Equilibrium of a Firm | ||
| 🞽 | Macroeconomics | - | - |
| 2 | Theory of Income and Employment | 8 | |
| 3 | Money and Banking | 8 | |
| 4 | Balance of Payments and Exchange Rate | 6 | |
| 5 | Public Finance | 6 | |
| 6 | National Income | 12 | |
| Total | - | - |
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Syllabus
1: Microeconomic Theory [Revision]
CISCE Class 12 Economics Syllabus
1 Demand [Revision]
- Introduction to Microeconomics and Macroeconomics
- Macroeconomics Vs Microeconomics
- Introduction to Demand
- Meaning of Demand
- Features of Demand
- Types of Demand
- Determinants of Demand
- Quantity Demanded and Demand
- Law of Demand
- Demand Schedule
- Demand Curve
- Individual Demand Curve to Market Demand Curve
- Slope of the Demand Curve
- Methods of Measuring Price Elasticity of Demand
- Reasons for the Downward Slope of the Demand Curve
- Importance of the Law of Demand
- Exceptions to the Law of Demand
- Movement Along the Demand Curve
- Change in Demand – Shift in Demand Curve
- Difference Between Extension and Increase in Demand
- Difference Between Contraction and Decrease in Demand
- Cross Price Effects
- Relationship Between Income and Demand
- Impact of Tastes and Preferences on Demand for a Commodity
- Industry Demand Vs Firm Demand
- Concept of Utility
- Cardinal Utility Analysis / Marginal Utility Analysis
- Types of Marginal Utility
- Total Utility and Marginal Utility
- Forms of Utility
- Features of Utility
- Relationship Between Total Utility and Marginal Utility
- Law of Diminishing Marginal Utility
- Exceptions of the Law of Diminishing Marginal Utility
- Importance of the Law of Diminishing Marginal Utility
- Consumer's Equilibrium through Cardinal Utility Approach
- Law of Equi-Marginal Utility
- Exceptions of the Law of Equi-marginal Utility
- Importance of the Law of Equi-marginal Utility
- Ordinal Utility Analysis/Indifference Curve Analysis
- Indifference Schedule
- Indifference Curve
- Indifference Map
- Marginal Rate of Substitution (MRS)
- Assumptions of Indifference Curve Analysis
- Properties of Indifference Curves
- Price Line or Budget Line
- Comparison of Utility Theory and Indifference Curve Theory
- Consumer's Equilibrium through Indifference Curve Approach
- Relationship Between Marginal Rate of Substitution and Marginal Utility
2 Elasticity of Demand [Revision]
- Introduction to Elasticity of Demand
- Meaning and Types of Elasticity of Demand
- Price Elasticity of Demand
- Classification of Price Elasticity - Degrees of Price Elasticity of Demand
- Methods of Measuring Price Elasticity of Demand
- Percentage or Proportionate Method
- Total Expenditure Method
- Point Method (Geometric Method)
- Arc Elasticity of Demand
- Revenue Method
- Numerical Problems of Price Elasticity of Demand
- Factors Affecting Price Elasticity of Demand
- Importance of Elasticity of Demand
- Income Elasticity of Demand
- Types of Income Elasticity of Demand
- Importance of Income Elasticity
- Cross Elasticity of Demand
- Туpes of Cross Elasticity of Demand
- Limitations of Cross Elasticity of Demand
- Importance of Cross Elasticity of Demand
3 Supply [Revision]
- Concept of Supply
- Individual and Market Supply
- Distinction Between Supply and Stock
- Determinants of Supply
- Supply Function
- Law of Supply
- Supply Schedule
- Supply Curve
- Derivation of Market Supply Curve From Individual Supply Curves
- Explanation of the Law of Supply
- Time Period and Supply
- Exceptions to the Law of Supply
- Movement Along the Supply Curve Or Expansion and Contraction of Supply
- Shift of the Supply Curve or Change in Supply
- Expansion of Supply and Increase in Supply
- Contraction of Supply and Decrease in Supply
- Elasticity of Supply
- Price Elasticity of Supply
- Meaning and Types of Elasticity of Demand
- Categories (Degrees) of Elasticity of Supply
- Measurement of Elasticity of Supply > Percentage Method
- Measurement of Elasticity of Supply > Geometric or Point Method
- Determinants of Elasticity of Supply
- Importance of Elasticity of Supply
4 Market Mechanism [Revision]
- Introduction to Market Mechanism
- Basic Concepts of Equilibrium and Equilibrium Price
- Equilibrium Price and Quantity in a Competitive Market
- Changes in Equilibrium
- Effects of Changes (Shifts) in Demand on Equilibrium Price and Equilibrium Quantity
- Effects of Changes (Shifts) in Supply on Equilibrium Price and Equilibrium Quantity
- Effects of Simultaneous Changes (Shifts) in Demand and Supply
- Some Special Cases of Equilibrium
- Importance of the Element in the Determination of Price
- Applications of Tools of Demand and Supply Price Control
- Mаximum Price Legislation or Price Ceiling and Rationing
- Minimum Price Legislation or Floor Price
- Important Areas of Applications of Tools of Demand and Supply Curves
- Meaning of Perfect Competition
- Assumptions and Conditions of Perfect Competition
- Pure and Perfect Competition
- Time Element in the Theory of Price Determination
- Determination of Equilibrium Prices
- Normal Price and Law of Returns
- Comparison between Market Price and Normal Price
- Practical Applications of Tools of Demand and Supply Analysis
5 Concepts of Production [Revision]
- Concept of Production
- Product
- Factors of Production
- Production Function
- Short-run and Long-run
- Features of Production Function
- Types of Production Functions
- Some Basic Concepts - Total, Average and Marginal Physical Products
- Relationship between Average Product (AP) and Marginal Product (MP)
- Relationship between Total Product (TP) and Marginal Product (MP)
- Returns to a Factor - Laws of Returns to a Variable Factor
- Law of Variable Proportions
- Statement of the Law of Variable Proportions
- Assumptions of the Law of Variable Proportions
- Illustration of the Law of Variable Proportions
- Conditions Or Causes of Applicability
- Applicability of the Law of Variable Proportions
- Changes in Production
- Returns to a Factor or Law of Returns
- Law of Variable Proportions and Returns to Scale Compared
- Variation of Output in the Long Run - Returns to Scale
- Scale of Production
- Concept of Indivisibility
- Economies of Scale
- Diseconomies of Scale
6 Cost and Revenue [Revision]
- Introduction to Cost of Production
- Money Cost Or Accounting Cost / Explicit Cost
- Economic Cost
- Opportunity Cost
- Real Cost
- Private and Social Cost
- Fixed Cost and Variable Cost
- Different Cost Concepts
- Total Cost Curves
- Average Cost Curves
- Marginal Cost (MC)
- Relationship between Average and Marginal Cost
- Long-Run Cost Curves
- Long-run Average Cost (LAC) Curve
- Long-run Marginal Cost (LMC) Curve
- LAC Curve U-shaped - Economies and Diseconomies of Scale
- Numerical Problems Long-run Cost Curves
- Revenue Concepts
- Behaviour of Revenue Under Different Market Structures
- Relationship Between Total, Average and Marginal Revenues Under Perfect Competition
- Relationship Between Total, Average and Marginal Revenue Under Imperfect Competition
- Significance of Revenue Curve
- Numerical Problems of Revenue
7 Main Market Forms and Equilibrium of a Firm [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 Structure
- Meaning of Market Structure
- Main types of market structures
- Characteristics of Market Structure
- Key Points: Market Structure
- 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
- Bilateral Monopoly
- Introduction
- Features of Bilateral Monopoly
- Real-Life Application
- Key Points: Bilateral Monopoly
- 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
- Monopoly
- Meaning
- Definitions: Monopoly
- Features
- Types
- Price discrimination under monopoly
- Nature of demand and revenue under monopoly
- Costs under monopoly
- Key Points: Monopoly
- Monopolistic Competition
- Introduction
- Definition: Monopolistic competition
- Main Features
- Edward Hastings Chamberlin
- Nature of Demand and Cost Curves
- Real-Life Application
- Key Points: Monopolistic 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
- Concept of Monopsony
- Introduction
- Definition: Monopsony
- Characteristics of Monopsony
- Short Note: Joan Robinson
- Real-Life Application
- Key Points: Concept of Monopsony
- Monopoly
- Other Forms of Market
- Based on Time Frame
- Based on Area
- Based on Function
- Based on Quantity
- Based on Legality
- Based on Control
- Based on Transactions
- Real-Life Application
- Key Points: Other Forms of Market
- Factors Determining Market / Extent of Market
- Extent of Market
- Factors That Decide Market Size
- Real-Life Application
- Key Points: Factors Determining Market / Extent of Market
- Demand Curves of Firms under Different Market Forms
- Meaning of demand curve of a firm
- Perfect competition
- Monopoly
- Monopolistic competition
- Diagram explanation
- Key Points: Demand Curves of Firms under Different Market Forms
- Comparison between different forms of market
- Comparison Table
- Real-Life Application
