CBSE (Central Board of Secondary Education) has released CBSE Class 12 Economics Syllabus 2022-23 for next year’s board exam. Students of class 12 who are preparing for the academic session 2022-23. They should download this latest CBSE Class 12th Economics Syllabus and read each and every topic mentioned in the latest syllabus.
CBSE Class 12 Students who are preparing for the CBSE Board Exam 2022-23 can download the latest CBSE Class 12 Economics syllabus 2022-23 through the direct link given in the article or the official website of CBSE at cbseacademic.nic.in. Class 12 aspirants read the latest CBSE Economics Syllabus 2022-23 given below carefully and prepare according to the same syllabus for Board Exam 2023.
Importance of CBSE Class 12 Economics Syllabus 2022-23
CBSE Class 12 Economics Syllabus 2022-23: Economics is one of the social sciences, which has a great impact on every human being. As economic life and economy undergo changes, it becomes necessary to base education on children’s own experiences. While doing so, it is imperative to provide them with opportunities to acquire analytical skills to see and understand economic realities.
At the higher secondary level, learners are in a position to understand abstract ideas, exercise their thinking power, and develop their own perceptions. It is at this stage, that the learners are exposed to the rigors of the discipline of economics in a systematic manner.
Economics curriculum are offered in such a way that at the initial stage, the learners are introduced to the economic realities that the nation is facing today, along with some basic statistical tools to understand these macroeconomic realities. At a later stage, learners are introduced to economics as a principle of abstraction.
The economics syllabus also includes a number of projects and activities. These will provide opportunities to the learners to explore various economic issues in their daily lives and also those issues which are pervasive and invisible in nature. The academic skills they learn in these courses will help develop projects and activities. The curriculum is also expected to provide opportunities to use information and communication technologies to facilitate their learning process.
CBSE Class 12th Economics Syllabus 2022-23 Course Structure
|Part A||Introductory Macroeconomics|
|National Income and Related Aggregates (30 Periods)||10|
|Money and Banking (15 Periods)||06|
|Determination of Income and Employment (30 Periods)||12|
|Government Budget and the Economy (17 Periods)||06|
|Balance of Payments (18 Periods)||06|
|Part B||Indian Economic Development|
|Development Experience (1947-90)|
and Economic Reforms since 1991 (28 Periods)
|Current Challenges facing Indian Economy (50 Periods)||20|
|Development Experience of India – A Comparison with|
Neighbors (12 Periods)
|Part C||Project Work ( 20 Periods)||20|
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 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.
The 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
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 full employment and involuntary unemployment. Problems of excess demand and deficient demand; measures to correct the – 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 to float.
Determination of exchange rate in a free market, Merits, and demerits of the 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 liberalization, globalization, and privatization (LPG policy); Concepts of demonetization and GST.
Unit 7: Current challenges facing the Indian Economy
Human Capital Formation: How people become resources; Role of human capital in economic development; Growth of Education Sector in India
Rural development: Key issues – credit and marketing – the role of cooperatives; agricultural diversification; alternative farming – organic farming
Employment: Growth and changes in the 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 of India:
A comparison with neighbors
India and Pakistan
India and China
Issues: economic growth, population, sectoral development, and other Human Development Indicators
- Statistics for Economics, NCERT
- Indian Economic Development, NCERT
- Introductory Microeconomics, NCERT
- Macroeconomics, NCERT
- Supplementary Reading Material in Economics, CBSE
Note: The above publications are also available in the Hindi Medium.
CBSE Class 12 Economics Syllabus 2022-23 PDF: Download
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