CBSE Class 12 Economics Syllabus 2022-23, Download Latest Syllabus PDF: Are you searching for the latest CBSE Class 12 Economics Syllabus 2022-23? Now stop wondering. Get the entire new syllabus in one place. CBSE has made an announcement about the removal of term-wise examination and the inclusion of the annual examination pattern. Are you getting afraid of this decision of CBSE? Before you start your preparation, knowing the latest syllabus and following the guidelines of the latest eczema pattern is essential to score high grades in the examination.
CBSE Class 12 Economics Syllabus 2022-23
Here, the Commerce and Humanities students will get to know the latest CBSE Class 12 Economics Syllabus 2022-23 in detail. Check the details below.
Part A: Introductory Macroeconomics
Unit 1: National Income and Related Aggregates
What is Macroeconomics?
Basic concepts in macroeconomics: consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation. Circular flow of income (two sector model);
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 Domestic Product (GDP), and Net Domestic Product (NDP) – at market price, at factor cost; Real and Nominal GDP.
Unit 2: Money and Banking
Money – 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. The 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.
Unit 3: 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 and its mechanism.
Meaning full employment and involuntary unemployment. Problems of excess demand and deficient demand; measures to correct them – changes in government spending, taxes, and money supply.
Unit 4: 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.
Balanced, Surplus, and Deficit Budget – measures of government deficit.
Unit 5: Balance of Payments
Balance of payments account – meaning and components; Balance of payments – Surplus and Deficit Foreign exchange rate – meaning of fixed and flexible rates and managed to float.
Determination of exchange rate in a free market, Merits, and demerits of the flexible and fixed exchange rate.
Managed Floating exchange rate system.
Part B: Indian Economic Development
Unit 6: Development Experience (1947-90) and Economic Reforms since 1991
A brief introduction of the state of the Indian economy on the eve of independence.
Indian economic system and common goals of Five Year Plans.
Main features, problems, and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI – role & importance), and foreign trade.
Economic Reforms since 1991: Features and appraisals of liberalization, globalization, and privatization (LPG policy); Concepts of demonetization and GST.
Unit 7: Current challenges facing the Indian Economy
Human Capital Formation: How people become resources; Role of human capital in economic development; Growth of Education Sector in India Rural development: Key issues – credit and marketing – the role of cooperatives; agricultural diversification; alternative farming – organic farming Employment: Growth and changes in the workforce participation rate in formal and informal sectors; problems and policies
Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming.
Unit 8: Development Experience in India
A comparison with neighbors India and Pakistan India and China Issues: economic growth, population, sectoral development, and other Human Development Indicators. Join Telegram Channel
Part C: Project in Economics
- Statistics for Economics NCERT
- Indian Economic Development NCERT
- Introductory Microeconomics NCERT
- Macroeconomics, NCERT
- Supplementary Reading Material in Economics, CBSE