ECONOMICS
CLASS - XII (2020-21)
Theory:
80 Marks 3
Hours
Project: 20 Marks
|
Units
|
|
Marks
|
Periods
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|
Part A
|
Introductory Macroeconomics
|
|
|
|
|
National Income and Related Aggregates
|
10
|
28
|
|
|
Money and Banking
|
6
|
15
|
|
|
Determination of Income and Employment
|
12
|
27
|
|
|
Government Budget and the Economy
|
6
|
15
|
|
|
Balance of Payments
|
6
|
15
|
|
|
|
40
|
100
|
|
|
|
|
|
|
Part B
|
Indian Economic Development
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|
|
|
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Development Experience (1947-90) and Economic Reforms since 1991
|
12
|
28
|
|
|
Current Challenges facing Indian
Economy
|
22
|
60
|
|
|
Development Experience of India – A
Comparison with Neighbours
|
06
|
12
|
|
|
Theory Paper (40+40 = 80 Marks)
|
40
|
100
|
|
|
|
|
|
|
Part C
|
Project Work
|
20
|
20
|
Part A: Introductory Macroeconomics
Unit
1: National Income and Related Aggregates
28
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 and
Welfare
Unit
2: Money and Banking 15
Periods
Money - meaning and 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, CRR, SLR, Repo Rate and Reverse Repo Rate, Open Market Operations,
Margin requirement.
Unit
3: Determination of Income and Employment
27
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 15
Periods
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
5: Balance of Payments 15
Periods
Balance of payments account - meaning and components;
balance of payments deficitmeaning.
Foreign exchange rate - meaning of fixed
and flexible rates and managed floating.
Determination of exchange rate in a free
market.
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
Poverty- absolute and relative; Main programmes for poverty
alleviation: A critical assessment;
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
Infrastructure: Meaning and Types: Case Studies: Energy and
Health: Problems and Policies- A critical assessment;
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
Prescribed
Books:
1. Statistics
for Economics, NCERT
2. Indian
Economic Development, NCERT
3. Introductory
Microeconomics, NCERT
4. Macroeconomics,
NCERT
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