CBSE Launched the Class 12 Syllabus for Economics

The Central Board of Secondary Education (CBSE) conducts the final examinations for Class 10 and Class 12 every year in the month of March.  For 2019, the CBSE will conduct board examinations from February for the coming academic year 2019. The board has declared the list of vocational subjects for the examinations to be conducted from February to March 2019. However, the schedule and date of the examinations related information will be released later. For Class 10 examination, CBSE has declared that from next year, it is mandatory to get atleast 33 per cent marks in theory and practical together per subject in order to pass in the subject.

For CBSE Class 12 syllabus 2018: Following is the complete syllabus for Economics:

Course 1: Economics

Unit I – Microeconomics- Central problems of an economy, production possibility curve and opportunity cost

Unit II – Consumer Behaviour and Demand -

• Consumer’s Equilibrium meaning and its attainment through Utility Approach: One and two commodity cases

• Demand: Market demand, determinants of demand, demand schedule, demand curve, movement along and shifts in demand curve, price elasticity of demand, and measurement of price elasticity of demand – percentage, total expenditure and geometric methods

Unit III: Producer Behaviour and Supply

• Production function: returns to factor and returns to scale

• Supply: market supply, determinants of supply, supply schedule, supply curve movement along and shifts in supply curve, price elasticity of supply, measurement of price elasticity of supply – percentage and geometric methods

• Cost and Revenue: Concepts of costs; short-run cost curves (fixed and variable costs; total, average and marginal costs); concepts of revenue – total, average and marginal revenue and their relationship; Producer’s equilibrium – with the help of MC and MR

Unit IV: Forms of Market and Price Determination

CBSE Class 12 exams 2019: Following is the complete syllabus on Biology

• Forms of market – Definition and features of perfect competition, monopoly, monopolistic competition

• Price determination under perfect competition – equilibrium price, effects of shifts in demand and supply

Unit V: Simple Applications of Tools of Demand and Supply Curves- The teachers will choose the issues like rationing, floors and ceilings and Food Availability Decline (FAD) Theory (the teachers may also choose other examples that are simple and easy to understand)

Course II: Introductory Macroeconomics

Overall economy mechanism and some of its economic theorisation are included in this course. The course includes how the government regulates the functioning of economic aspects of a country through accounting of the production activities, running financial institutions, budgeting and the accounting of its economic interaction with other countries. The impact it will have on citizens is also briefly introduced.

Unit I: National Income and Related Aggregates — Basic Concepts and Measurement

• Basic Macroeconomics

• Circular flow of income, concepts of GDP, GNP, NDP, NNP (at market price and factor cost), National Disposable Income (gross and net); Private Income, Personal Income and Personal Disposable Income

• Measurement of National Income –Value Added method, Income method and Expenditure method

Unit II: Determination of Income and Employment

• Aggregate demand, aggregate supply and their components

• Propensity to consume and propensity to save (average and marginal)

• Meaning of involuntary unemployment and full employment

• Determination of income and employment: Two Sector Model

• Concept of investment multiplier

• Problems of excess and deficient demand

• Measures to correct excess and deficient demand – availability of credit, change in government spending Unit

III: Money and Banking

• Money: meaning, evolution and functions

• Central bank: meaning and functions

• Commercial banks: meaning and functions

• Recent significant reforms and issues in Indian Banking System: privatisation and modernisation

Unit IV: Government Budget and the Economy

• Government budget – meaning and its components

• Objectives of government budget

• Classification of receipts – revenue and capital; classification of expenditure – revenue and capital, plan and non-plan, and developmental and non-developmental

• Balanced budget, surplus budget and deficit budget: meaning and implications

• Revenue deficit, fiscal deficit and primary deficit: meaning and implications; measures to contain different deficits

• Downsizing the role of government: meaning and implications

Unit V: Balance of Payments

• Foreign exchange rate – meaning (fixed and flexible), merits and demerits; determination through demand and supply

• Balance of payments accounts – meaning and components

Note to textbook writers: For above courses, there is a need to provide more examples from day-to-day context. More numerical examples (solved) will have to be given. Use of pictures, charts and simple tables is essential.

By: Anuja Arora

Content: https://indianexpress.com/article/education/cbse-class-12-syllabus-2018-check-the-complete-syllabus-on-economics-5421405/