ISC Class 12 Economics Syllabus 2026 | Free PDF Download

The Economics Syllabus Class 12 ISC has been released officially. In the 2025-26 session, ISC has introduced some refinements to make learning more application-based. Let’s dive into the Economics Syllabus and see what’s in store!

Also, you can checkout ISC Accounts Class 12 Syllabus and ISC Business Studies Class 12 Syllabus for better prep of your Board Exams 2026.

ISC Economics Syllabus Class 12 ISC PDF for the Year 2025-26 – Download the Latest PDF

Since, Economics ISC Class 12 Syllabus has been updated, it's super important for students, parents, and teachers to get familiar with these changes. Download the ISC Economics Syllabus from the link below and get started!

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Assessment Structure for Economics Syllabus Class 12 ISC

Your syllabus class 12 isn’t just about theory; project work also carries weight. The assessment is divided into two parts:

• Paper I (Theory) – 80 marks (3 hours)
• Paper II (Project Work) – 20 marks

Paper I tests your conceptual understanding, while Paper II involves research-based projects to enhance practical knowledge. 

Exam Pattern ISC Class 12 Economics Syllabus

Before diving into the Economics ISC Class 12 Syllabus, let’s understand how your answers will be marked. Understanding this pattern will help you focus on the weightage of different topics while studying.

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Economics Syllabus Class 12 ISC Detailed Breakdown

The Economics ISC Class 12 Syllabus is divided into two major parts: MicroEconomics and MacroEconomics. Here’s the breakdown:

1. Microeconomic Theory (40 Marks)

a) Demand 

• Meaning, factors affecting demand, demand function
• Law of Demand, derivation of demand curve, movement vs. shift
• Exceptions to the Law of Demand
• Cardinal Utility Analysis: utility concepts, Law of Diminishing Marginal Utility, consumer's equilibrium
• Ordinal Utility Analysis: indifference curves and properties, budget line, consumer's equilibrium

b) Elasticity of Demand 

• Meaning, types of elasticity (price, income, cross)
• Measurement methods: point, percentage, expenditure, geometric
• Factors affecting elasticity
• Numerical problems (percentage method only)

c) Supply 

• Meaning, difference between stock and supply
• Determinants, Law of Supply, movement vs. shift
• Elasticity of supply: measurement and degrees

d) Market Mechanism 

• Equilibrium and disequilibrium concepts
• Effect of changes in demand and supply on equilibrium price
• Applications: price control, rationing, price ceiling, floor price

e) Production Concepts

• Production function (short-run and long-run)
• Returns to a factor, returns to scale
• Total, average and marginal physical products
• Law of Variable Proportions and its three stages

f) Cost and Revenue 

• Cost concepts: fixed, variable, total, marginal, average costs
• Cost relationships and curves (short-run and long-run)
• Opportunity cost, accounting vs. opportunity cost
• Revenue concepts and relationships under different market structures
• Producer's equilibrium using TR-TC and MR-MC approaches

g) Market Forms

• Characteristics of perfect competition, monopolistic competition, oligopoly, monopoly, monopsony
• Equilibrium of a firm in perfect competition (short-run and long-run)
• Shutdown point and break-even point

2. Theory of Income and Employment (8 Marks)

Following topics are included in syllabus class 12:

• Concepts of ex-ante and ex-post demand
• Aggregate demand and its components
• Propensity to consume and save
• Investment multiplier (meaning and mechanism)
• Full employment, excess demand, deficient demand
• Numerical problems

3. Money and Banking (8 Marks)

Following topics are included in Economics ISC Class 12 Syllabus

• Money: meaning, kinds, functions, supply (M0, M1, M2, M3, M4)
• Inflation: demand-pull and cost-push
• Commercial banks: functions, credit creation
• Central Bank: regulatory role, functions
• Quantitative methods (CRR, SLR, Bank Rate, Repo Rate, Open Market Operations)
• Qualitative methods

4. Balance of Payments and Exchange Rate (6 Marks)

Following topics are included in ISC Economics Syllabus Class 12:

• Balance of Payments: meaning, components
• Causes of disequilibrium and correction
• Foreign exchange: meaning, determination in free market
• Fixed vs. flexible exchange rates
• Concepts of depreciation, appreciation, devaluation, revaluation

5. Public Finance (6 Marks)

Following topics are included in Economics Syllabus

• FISCal policy: meaning and instruments
• Public revenue: taxes (direct vs. indirect)
• Public expenditure and public debt
• Deficit financing
• Government budget: types and components
• Deficit concepts: revenue, fISCal, primary deficits

6. National Income (12 Marks)

Following topics are included ISC Economics Syllabus Class 12:

• Circular flow of income (2, 3, and 4 sector models)
• National income concepts: NY, GNP, GDP, NNP, private income, personal income, disposable income
• Relationships between income concepts
• GDP and welfare
• Methods of measuring national income: product/value-added, income, expenditure
• Precautions and difficulties in measurement
• Numerical problems

Project Work in Economics ISC Class 12 Syllabus (20 Marks)

1. Two projects required from any theory topic
2. Assessment: teacher and visiting examiner
3. Mark allocation per project (10 marks):

• Overall format: 1 mark
• Content: 4 marks
• Findings: 2 marks
• Viva-voce: 3 marks

Suggested Projects Acc to Economics Syllabus Class 12 ISC:

1. Study of a Public Sector Enterprise and its relevance to Indian economy
2. Socio-economic survey of a locality (min. 30 households)
3. Comparison of different sectors' contribution to GDP growth
4. Report on competition in the Aviation Sector in India
5. Comparative analysis of lending performance of five Commercial Banks
6. Analysis of natural resource depletion and technological improvement
7. Comparative study of Central Government Budget allocations
8. Trend Analysis of Growth and Productivity of an industry

Preparation Tips for Economics Syllabus Class 12 ISC

Studying for the ISC Economics Syllabus Class 12 requires strategy. Here are some tips:

1. Master PYQs – Solve previous years question papers to understand the pattern. 
2. Focus on Numerical Problems – Chapters like National Income and Elasticity require practice.
3. Use Graphs & Diagrams – Make concept-based charts for Market Structures and Cost Curves.
4. Revise with Sample Papers – Attempt mock tests regularly for time management, sample papers are simply the best for practice sessions.
5. Project Work Matters – Select topics wisely and ensure a detailed analysis for better scores.

The ISC Class 12 Economics Syllabus for 2025-26 offers an in-depth study of both theoretical and applied aspects of Economics. From micro to macro concepts, understanding these topics will not only help you in board exams but also in real-world financial decisions. Follow a structured study plan, practice consistently, and make the most of ISC sample papers. Economics is not just a subject—it’s a life skill!

Frequently Asked Questions

What is the structure of the ISC Class 12 Economics exam?

The exam consists of Theory and Practical components, but the main focus is on the Theory paper. The theory paper is divided into two sections: Section A (MacroEconomics) and Section B (MicroEconomics). Students are expected to answer questions on both topics.

What are the key topics in the ISC Class 12 Economics Syllabus?

Key topics include MicroEconomics (Demand, Supply, Production, Market Structures, Cost and Revenue, etc.) and MacroEconomics (National Income, Money and Banking, Government Budget, Inflation, Economic Development, etc.). Additionally, there are topics on Indian Economic Development, including agricultural and industrial policies, poverty, and unemployment.

What types of questions are asked in the Economics exam?

The exam includes a mix of objective questions (like MCQs), short-answer questions, and long-answer questions. Students may also be asked to draw graphs and interpret them, explain economic concepts, and solve numerical problems related to national income, inflation, or other macroeconomic factors.

How can I prepare for the ISC Class 12 Economics exam?

Focus on understanding economic concepts, theories, and their real-world applications. Practice drawing and labeling graphs (like demand-supply curves, cost curves, etc.), as these are often asked in the exam. Regularly solve sample papers and previous year’s questions to get used to the exam pattern and improve your speed.

Is there a specific marking scheme for the Economics exam?

Yes, the exam follows a structured marking scheme. Short-answer questions generally have 2-3 marks, while long-answer questions can carry 5-6 marks or more. Graphs and diagrams also carry marks for accuracy and explanation, so it’s important to practice drawing them properly.