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The 2022-2023 CBSE Class 12 Economics Curriculum is for the Annual Assessment Curriculum. The syllabus remains reduced for the current academic session. Download the new CBSE 12 class economics syllabus in PDF here.

CBSE Class 12 Economy Program 2022-2023: Business students in CBSE Class 12 can view and download the new CBSE Economics syllabus here. The board has released the revised CBSE Class 12 Economics Curriculum for the current academic session, 2022-23. This program is consistent with the annual assessment. Students should go through the full syllabus for the latest course structure and exam pattern. The details of the project work and question paper design can also be checked from this program.

Check CBSE Class 12 Economy 2022-23 program below:

Also Check CBSE Class 12 syllabus of all subjects for the 2022-2023 session (PDF)

Part A: Introduction to Macroeconomics

Unit 1: National income and related aggregates (30 periods)

What is Macroeconomics? Basic concepts in macroeconomics: consumer goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation.

Circular flow of income (two-sector model); National income calculation methods – value added or product method, expenditure method, income method.

Aggregates linked to national income:

Gross National Product (GNP), Net National Product (PNN), Gross Domestic Product (GDP) and Net Domestic Product (GNP) – at market price, at factor cost; Real and nominal GDP.

GDP and well-being

Unit 2: Currency and banking (15 periods)

Money – meaning and functions, money supply – Money 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, credit control through discount rate, CRR, SLR, repo rate and reverse repo rate, open market operations, margin requirement.

Unit 3: Determination of income and employment (30 periods)

Aggregate demand and its components.

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

Exit from short-term equilibrium; investment multiplier and its mechanism. Meaning of full employment and involuntary unemployment.

Problems of excess demand and insufficient demand; measures to correct them – changes in public spending, taxes and the money supply.

Unit 4: State budget and economy (17 periods)

Government budget – meaning, objectives and components.

Classification of revenue – tax revenue and capital revenue;

Classification of expenditures – revenue expenditures and capital expenditures.

Balanced budget, surplus and deficit – measures of the public deficit.

Unit 5: Balance of payments (18 periods)

Balance of payments account – meaning and components;

Balance of Payments – Surplus and Deficit

Exchange rates – meaning managed fixed and flexible and floating rates.

Determination of the exchange rate in a free market, advantages and disadvantages 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: (28 periods)

A brief introduction to the state of the Indian economy on the eve of independence.

Indian economic system and common objectives of the five-year plans.

Main characteristics, problems and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI – role and importance) and foreign trade.

Economic reforms since 1991:

Characteristics and results of liberalisation, globalization and privatization (GPL policy); Demonetization and GST concepts

Unit 7: Current challenges facing the Indian economy (60 periods)

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 – role of cooperatives; agricultural diversification; alternative agriculture – organic agriculture

Use: Growth and evolution of the rate of participation in the labor market in the formal and informal sectors; issues and policies

Sustainable economic development: Meaning, effects of economic development on resources and environment, including global warming

Unit 8: India’s Development Experience: (12 periods)

A comparison with neighbors

India and Pakistan

India and China

Issues: economic growth, population, sectoral development and others

Development indicators

Part C: Economics Project (20 periods)

Prescribed books:

1. Statistics for Economics, NCERT 2. Indian Economic Development, NCERT 3. Introductory Microeconomics, NCERT 4. Macroeconomics, NCERT 5. Further Reading Material in Economics, CBSE

To note: The above publications are also available in Medium Hindi.

To check and download the full programclick on the following link:

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