CBSE Class 12
Economics Syllabus 2016 – 2017
The key contents of the syllabus
issued by CBSE for Class 12th Economics are:
Name of the Units and their weightage in
Board Exam
Details of topics and sub-topics to be
covered in each unit
Prescribed books
Question Paper Design for CBSE Class 12th
Economics Board Exam (2016-17)
The complete syllabus is as follows:
Name of the Units and their
weightage in Board Exam
|
Units
|
Marks
|
Periods
|
|
Part A: Introductory Microeconomics
|
|
|
|
Introduction
|
6
|
11
|
|
Consumer’s Equilibrium and Demand
|
16
|
34
|
|
Producer Behaviour and Supply
|
16
|
34
|
|
Forms of Market and Price Determination
|
12
|
31
|
|
|
50
|
110
|
|
Part B: Introductory Macroeconomics
|
|
|
|
National Income and Related Aggregates
|
15
|
32
|
|
Money and Banking
|
8
|
18
|
|
Determination of Income and Employment
|
12
|
27
|
|
Government Budget and the Economy
|
8
|
17
|
|
Balance of Payments
|
7
|
16
|
|
|
50
|
110
|
Details of topics and sub-topics
to be covered in each unit
Part A:
Introductory Microeconomics
Unit
I: Introduction
Meaning of
microeconomics and macroeconomics, Positive and Normative Economics. What is an
economy? Central problems of an economy: what, how and for whom to produce;
concepts of production possibility frontier and opportunity cost.
Unit
II: Consumer’s Equilibrium and Demand
Consumer's
equilibrium - meaning of utility, marginal utility, law of diminishing marginal
utility, conditions of consumer's equilibrium using marginal utility analysis.
Indifference curve analysis of consumer's equilibrium-the consumer's budget
(budget set and budget line), preferences of the consumer (indifference curve,
indifference map) and conditions of consumer's equilibrium.
Demand, market
demand, determinants of demand, demand schedule, demand curve and its slope,
movement along and shifts in the demand curve; price elasticity of demand –
factors affecting price elasticity of demand; measurement of price elasticity
of demand - (a) percentage change method and (b) geometric method (linear
demand curve): relationship between price elasticity of demand and total
expenditure.
Unit
III: Producer Behaviour and Supply
Meaning of Production
function - Short-Run and Long-Run Total Product, Average Product and Marginal
Product.
Returns to a Factor
Cost: Short run costs
- total cost, total fixed cost, total variable cost; Average cost; Average
fixed cost, average variable cost and marginal cost-meaning and their
relationships.
Revenue - total,
average and marginal revenue - meaning and their relationships.
Producer's
equilibrium-meaning and its conditions in terms of marginal revenue-marginal
cost.
Supply, market
supply, determinants of supply, supply schedule, supply curve and its slope,
movements along and shifts in supply curve, price elasticity of supply:
measurement of price elasticity of supply-
(a) percentage-change
method and
(b) geometric method.
Unit
IV: Forms of Market and Price Determination under Perfect Competition with
simple applications
Perfect competition -
Features; Determination of market equilibrium and effects of shifts in
demand and supply.
Other Market Forms -
monopoly, monopolistic competition, oligopoly - their meaning and features.
Simple Applications
of Demand and Supply: Price ceiling, price floor.
Part B: Introductory Macroeconomics
Unit
5: National Income and related aggregates
Some basic concepts:
consumption goods, capital goods, final goods, intermediate goods; stocks
and flows; gross investment and depreciation.
Circular flow of
income; 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 and Net Domestic Product (GDP and NDP) - at market price, at factor
cost; National Disposable Income (gross and net), Private Income, Personal
Income and Personal Disposable Income; Real and Nominal GDP.
GDP and Welfare
Unit
6: Money and Banking
Money - its 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, Controller of Credit through Bank Rate, CRR, SLR, Repo Rate and
Reverse Repo Rate, Open Market Operations, Margin requirement.
Unit
7: 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 of full
employment and involuntary unemployment.
Problems of excess demand
and deficient demand; measures to correct them - change in
government spending, taxes and money supply.
Unit
8: 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.
Measures of
government deficit - revenue deficit, fiscal deficit, primary deficit their
meaning.
Unit
9: Balance of Payments
Balance of payments
account - meaning and components; balance of payments deficit-meaning.
Foreign exchange rate
- meaning of fixed and flexible rates and managed floating.
Determination of
exchange rate in a free market.
Prescribed books
1.
Introductory Micro Economics, Class XII, NCERT
2.
Macro Economics, Class XII, NCERT
3.
Supplementary Reading Material in Economics, Class XII, CBSE
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