CBSE Class 12 Economics Syllabus 2023-24
CBSE has released the Latest Updated Syllabus for the New Academic Session 2023-24 on March 31st, 2023, for class 12.
CBSE Board has released the latest Class 12 Economics syllabus which is to be strictly followed. Below please find our detailed analysis of Board Paper pattern, Unit-wise summary for the New Session 2023-24.
We have also updated Oswal Gurukul Books as per the Latest Paper Pattern prescribed by Board for each Subject Curriculum.
Students can directly access the CBSE Economics Syllabus for Class 12 of the academic year 2023-24 by clicking on the link below.
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- ▪ CBSE Class 12 Economics Syllabus 2023-24
CBSE Class 12 Economics Latest Syllabus 2023-24
|Part A||Introductory Macroeconomics|
|National Income and Related Aggregates||10||30|
|Money and Banking||06||15|
|Determination of Income and Employmentt||12||30|
|Government Budget and the Economy||06||17|
|Balance of Payments||06||18|
|Part B||Indian Economic Development|
and Economic Reforms Since 1991
Current Challenges facing Indian Economy
|Development Experience of India - A Comparison with Neighbours||08||12|
|Theory Paper (40+40=80 marks)||40|
|Part C||Project Work||40||20|
CBSE Class 12 Economics Syllabus 2023-24: Unit-wise Summary
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, 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
Indian Economic Development
Unit 6: Development Experience (1947-90) and Economic Reforms since 1991:
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
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
Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming
Unit 8: Development Experience of India:
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
CBSE Class 12 Economics Question Paper Design 2023-24
|SN||Typology of Questions||Marks||Percentage|
|1||Remembering and Understanding: Exhibit memory of previously learned material by recalling facts, terms, basic concepts, and answers. Demonstrate understanding of facts and ideas by organizing, comparing, translating, interpreting, giving descriptions, and stating main ideas||44||55%|
|2||Applying: Solve problems to new situations by applying acquired knowledge, facts, techniques and rules in a different way||18||22.5%|
|3||Analysing, Evaluating and Creating: Examine and break information into parts by identifying motives or causes. Make inferences and find evidence to support generalizations. Present and defend opinions by making judgments about information, validity of ideas, or quality of work based on a set of criteria. Compile information together in a different way by combining elements in a new pattern or proposing alternative solutions.||18||22.25%|
The Changes for Class 12 (2023-24) Year-end Board Examinations are as under:
|Particulars||Academic Session 2022-23||Academic Session 2023-24|
|Composition of question paperyear-end examination/ Board Examination (Theory)||
2022-23 Reduced Syllabus
(for reference purposes only)
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