Syllabus : CBSE Syllabus of Economics for Class 12 For March
Part A : Introductory Micro Economics
Class XII ECONOMICS
Time : 3 Hours
1. Introduction 04
2. Consumer Behaviour and Demand 13
3. Producer Behaviour and Supply 23
4. Forms of Market and Price Determination 10
5. Simple applications of Tools of demand and supply curves 00
TOTAL : 50
Part B : Introductory Macro Economics
6. National Income and Related Aggregates 15
7. Determination of Income and Employment 12
8. Money and Banking 08
9. Government Budget and the Economy 08
10. Balance of Payments 07
TOTAL : 50
Unit 1: Introduction 10 Periods
What is microeconomics?
Central problems of an economy, production possibility curve and opportunity
Unit 2: Consumer Behaviour and Demand 25 Periods
Consumer’s Equilibrium - meaning and attainment of equilibrium through Utility
Approach: One and two commodity cases Demand, market demand, determinants of
demand, demand schedule, demand curve, movement along and shifts in demand
curve, price elasticity of demand, measurement of price,elasticity of demand -
percentage, total expenditure and geometric method.
Unit 3: Producer Behaviour & Supply 37 Periods
Production function: Returns to Factor and Returns to Scale
Supply, market supply, determinants of supply, supply schedule, supply curve
movement along and shifts in supply curve, price elasticity of supply,
measurement of price elasticity of supply - percentage and geometric method.
Cost and Revenue : Short run costs-Total cost, Total variable cost, Total Fixed
cost; Average Fixed cost, Average Variable cost and Marginal cost-meaning and
their relationship. Revenuetotal, average and marginal revenue- Producers'
equilibrium- Meaning and its conditions in terms of total cost and total
Unit 4: Forms of Market and Price Determination 20 Periods
Forms of market - Perfect competition, Monopoly, Monopolistic competition –
their meaning and features.
Price determination under perfect competition - Equilibrium price, effects of
shifts in demand and supply.
Unit 5: Simple applications of Tools of demand and supply Curves 12 Periods
Part B: Introductory Macro-Economics
Unit 6: National Income and related aggregates 30 Periods
Circular flow of income, concepts of GDP, GNP, NDP, NNP (at market price and
factor cost), National Disposable Income (gross and net); Private Income,
Personal Income and Personal Disposable Income, Measurement of National Income -
Value Added method, Income method and Expenditure method.
Unit 7: Determination of Income and Employment 25 Periods
Aggregate demand, Aggregate supply and their components. Propensity to consume
and propensity to save (average and marginal). Meaning of Involuntary
unemployment and full employment. Determination of income and employment: Two
sector model Concept of investment multiplier and its working. Problems of
excess and deficient demand. : Measures to correct excess and deficient demand -
availability of credit, change in Government spending.
Unit 8: Money and Banking 18 Periods
Money - meaning, evolution and functions.
Central bank - meaning and functions.
Commercial banks - meaning and functions.
Recent significant reforms and issues in Indian Banking System
Privatisation and Modernisation
Unit 9: Government Budget and the Economy 17 Periods
Government budget - meaning and its components
Objectives of government budget
Classification of receipts - revenue and capital; classification of expenditure
– revenue and capital, plan and non-plan, & developmental and
Balanced budget, surplus budget and deficit budget: meaning and implications.
Revenue deficit, fiscal deficit and primary deficit: meaning and implications;
measures to contain different deficits.
Down sizing the role of government: Meaning and implications.
Unit 10: Balance of Payments 14 Periods
Foreign exchange rate- meaning (Fixed and Flexible), merits and demerits;
Determination through demand and supply
Balance of payments accounts - meaning and components
A brief analysis about recent exchange rate issues.
(Class 12th) Other Syllabus :-