CBSE Class 12 Economics Syllabus 2023-24

CBSE Class 12 Economics Syllabus 2023-24 includes both the books prescribed by CBSE, New Delhi. You can download the Economics class 12 syllabus 2023-24 from CBSE official website or myCBSEguide app as a PDF. The myCBSEguide app not only provides you with the CBSE class 12 Economics model question papers but also provides class 12 Economics chapter-wise test papers, class 12 Economics best revision notes and other study material for class 12 Economics students.

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Class 12 Economics Syllabus 2023-24

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CBSE Class 12
Economics (Code No. 030)
Syllabus (2023-24)

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Theory: 80 Marks (3 Hours)
Project: 20 Marks

Units		Marks	Periods
Part A	Introductory Macroeconomics
	National Income and Related Aggregates	10	30
	Money and Banking	06	15
	Determination of Income and Employment	12	30
	Government Budget and the Economy	06	17
	Balance of Payments	06	18
		40
Part B	Indian Economic Development
	Development Experience (1947-90) and Economic Reforms since 1991	12	28
	Current Challenges facing Indian Economy	20	50
	Development Experience of India – A Comparison with Neighbours	08	12
	Theory Paper (40+40 = 80 Marks)	40	200
Part C	Project Work	20	20

Part A: Introductory Macroeconomics

Unit 1: National Income and Related Aggregates (30 Periods)

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
GDP Deflator, GDP and Welfare

Unit 2: Money and Banking (15 Periods)

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.

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, Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.

Unit 3: Determination of Income and Employment (30 Periods) 

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 of 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 (17 Periods)

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 (18 Periods)

Balance of payments account – meaning and components;
Balance of payments – Surplus and Deficit
Foreign exchange rate – meaning of fixed and flexible rates and managed floating.
Determination of exchange rate in a free market, Merits and demerits of 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: (28 Periods)

A brief introduction of the state of 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 liberalisation, globalisation and privatisation (LPG policy); Concepts of demonetization and GST

Unit 7: Current challenges facing Indian Economy (60 Periods)

Human Capital Formation: How people become resource; Role of human capital in economic development; Growth of Education Sector in India
Rural development: Key issues – credit and marketing – role of cooperatives; agricultural diversification; alternative farming – organic farming
Employment: Growth and changes in work force 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 of India: (12 Periods)

A comparison with neighbours
India and Pakistan
India and China
Issues: economic growth, population, sectoral development and other Human Development Indicators

Part C: Project in Economics (20 Periods)

CBSE Class 12 Economics Syllabus Prescribed Books:

1. Statistics for Economics, NCERT
2. Indian Economic Development, NCERT
3. Introductory Microeconomics, NCERT
4. Macroeconomics, NCERT
5. Supplementary Reading Material in Economics, CBSE

Note: The above publications are also available in Hindi Medium.

CBSE Class 12 Economics Syllabus Question Paper Design

Marks: 80
Duration: 3 hrs.

SN	Typology of Questions	Marks	Percentage
1	Remembering and Understanding: Exhibit memory of previously learned material by recalling facts, terms, basic concepts, and answers. Demonstrate understanding of facts and ideas by organizing, comparing, translating, interpreting, giving descriptions, and stating main ideas	44	55%
2	Applying: Solve problems to new situations by applying acquired knowledge, facts, techniques and rules in a different way.	18	22.5%
3	Analysing, Evaluating and Creating: Examine and break information into parts by identifying motives or causes. Make inferences and find evidence to support generalizations. Present and defend opinions by making judgments about information, validity of ideas, or quality of work based on a set of criteria. Compile information together in a different way by combining elements in a new pattern or proposing alternative solutions.	18	22.5%
	Total	80	100%

Guidelines for Project Work in Economics Syllabus

The objectives of the project work are to enable learners to:

• probe deeper into theoretical concepts learnt in classes XI and XII
• analyse and evaluate real world economic scenarios using theoretical constructs and arguments
• demonstrate the learning of economic theory
• follow up aspects of economics in which learners have interest
• develop the communication skills to argue logically

The expectations of the project work are that:

• learners will complete only ONE project in each academic session
• project should be of 3,500-4,000 words (excluding diagrams & graphs), preferably hand-written
• it will be an independent, self-directed piece of study

Role of the teacher:

The teacher plays a critical role in developing thinking skills of the learners. A teacher should:

• help each learner select the topic based on recently published extracts from the news media, government policies, RBI bulletin, NITI Aayog reports, IMF/World Bank reports etc., after detailed discussions and deliberations of the topic
• play the role of a facilitator and supervisor to monitor the project work of the learner through periodic discussions
• guide the research work in terms of sources for the relevant data
• educate learner about plagiarism and the importance of quoting the source of the information to ensure authenticity of research work
• prepare the learner for the presentation of the project work
• arrange a presentation of the project file

Scope of the project:

Learners may work upon the following lines as a suggested flow chart:

Expected Checklist:

• Introduction of topic/title
• Identifying the causes, consequences and/or remedies
• Various stakeholders and effect on each of them
• Advantages and disadvantages of situations or issues identified
• Short-term and long-term implications of economic strategies suggested in the course of research
• Validity, reliability, appropriateness and relevance of data used for research work and for presentation in the project file
• Presentation and writing that is succinct and coherent in project file
• Citation of the materials referred to, in the file in footnotes, resources section, bibliography etc.

Mode of presentation/submission of the Project:

At the end of the stipulated term, each learner will present the research work in the Project File to the External and Internal examiner. The questions should be asked from the Research Work/ Project File of the learner. The Internal Examiner should ensure that the study submitted by the learner is his/her own original work. In case of any doubt, authenticity should be checked and verified.

Marking Scheme Class 12 Economics syllabus:

Marks are suggested to be given as –

S. No.	Heading	Marks Allotted
1.	Relevance of the topic	3
2.	Knowledge Content/Research Work	6
3.	Presentation Technique	3
4.	Viva-voce	8
	Total	20 Marks

Suggestive List of Projects in Class 12 Economics :

Micro and Small Scale Industries	Food Supply Channel in India
The contemporary Employment situation in India	Disinvestment policy of the government
Goods and Services Tax Act and its Impact on GDP	Health Expenditure (of any state)
Human Development Index	Inclusive Growth Strategy
Self-help group	Trends in Credit availability in India
Monetary Policy Committee and its functions	Role of RBI in Control of Credit
Government Budget & its Components	Trends in budgetary condition of India
Exchange Rate determination – Methods and Techniques	Currency War – reasons and repercussions
Livestock – Backbone of Rural India	Alternate fuel – types and importance
Sarva Siksha Abhiyan – Cost Ratio Benefits	Golden Quadrilateral- Cost ratio benefit
Minimum Support Prices	Relation between Stock Price Index and Economics Health of a Nation
Waste Management in India – Need of the hour	Minimum Wage Rate – Approach and Application
Digital India- Step towards the future	Rain Water Harvesting – A solution to water crises
Vertical Farming – an alternate way	Silk Route- Revival of the past
Make in India – The way ahead	Bumper Production- Boon or Bane for the farmer
Rise of Concrete Jungle- Trend Analysis	Organic Farming – Back to Nature
Aatmanirbhar Bharat	e-Rupee (e- ₹)
Sri Lanka’s Economic Crisis	Sustainable Development Goals (SDG’s)
Environmental Crisis	Comparative Study of Economies (Maximum three economies)
New Education Policy (NEP) 2020: A Promise for a New Education System	G-20: Inclusive and Action Oriented
Amrit Kaal: Empowered and Inclusive Economy	Cashless Economy
Any other newspaper article and its evaluation on basis of economic principles	Any other topic

CBSE Sample Paper 2023-24

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