CBSE Class 12 Economics Syllabus 2024-25 | PDF Download

CBSE Class 12th Economics Syllabus 2024-25

For students studying commerce in the 12th grade, the Central Board of Secondary Education (CBSE) offers a subject called CBSE Class 12 Economics. It covers a wide range of subjects in both macroeconomics and microeconomics to provide students with a solid knowledge of economic principles and their practical applications. Success in this topic is essential for students majoring in commerce in the future. It's critical to understand the curriculum to perform effectively and fully. Students can efficiently schedule their studies with the help of the syllabus.

The topics covered in the CBSE Class 12 Economics Syllabus 2024–25 include the following: government budget, the duties of the central bank, taxes, money supply, national income and employment, the definition and function of money, and developments in the Indian economy.

Like the Class 12 Economics Syllabus, students can also check out the Syllabus of Class 12 Psychology & Class 12 Applied Mathematics to plan their exams accordingly. Students can create a combined timetable for these exams to perform well and manage their time.

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Economics Class 12 Syllabus Breakdown for 2024-25

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 

GDP Deflator, GDP and Welfare

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.

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, and 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 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 

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 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:

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 liberalisation, globalisation and privatisation (LPG policy); Concepts of demonetisation and GST

Unit 7: Current Challenges Facing the Indian Economy

Human Capital Formation: How people become resource; Role of human capital in economic development; Growth of the 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 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 neighbours

India and Pakistan

India and China

Issues: economic growth, population, sectoral development and other Human Development Indicators

How to Prepare for Board Exams Using CBSE Economics Syllabus Class 12 2024-25

Use these steps to make the most of the CBSE Class 12 Economics Syllabus 2025:

Understand the Syllabus: Spend some time learning about the subjects and subtopics addressed in the Class 12 Economics syllabus 2024-25. This will provide you with an outline of the lessons you will be taking.

Set your Goals: Make a clear plan for your education by deciding what you hope to accomplish. Establishing precise goals can help you stay focused, whether your goal is to improve your general grasp of economics or to master particular areas.

Create a Study Schedule: Divide the material into digestible chunks and set aside time each week to study it. Determine the holes in your support system and locate the resources you need to fill them.

Make Use of Various Resources: Don't Rely Only on Lectures and Textbooks. Examine online courses, practice tests, and study materials to improve your comprehension.

Practice Often: To strengthen your learning, solve issues in practice, do assignments and take part in class discussions. Frequent practice will help you become more confident and exam-ready.

You may succeed in your studies and successfully traverse the CBSE Class 12 Economics Syllabus by following these guidelines. To sum up, the CBSE Economics Class 12 Syllabus 2024-25 provides a comprehensive outline of the subject matter, covering a range of subjects. 

You must become familiar with the curriculum, make clear learning objectives, organise your studies, look into additional resources, and practise often if you want to do well in your classes. By using these strategies, you'll improve your comprehension of the subject and achieve academic success in economics.