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CBSE Class 12 Economics: Notes, PDFs, Marks Weightage and Book Reference

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Last updated date: 12th Apr 2024
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Effective Study Strategies and Tips for CBSE Class 12 Economics Exam Preparation

Economics is one of the key courses in Class 12 of the CBSE. The subject is extensive and necessitates ongoing revision. Indian Economic Growth and Macroeconomics are the two sections of the Economics section. Due to the size of the section, Vedantu CBSE 12 Commerce Economics solutions assist students in mastering the fundamental ideas of the Indian economy.


Further the Commerce subject Economics are divided into two part:


1. Macro Economics

2. Micro Economics


CBSE Class 12 Economics Syllabus and Question Weightage

Chapters

Chapter Name

Marks

Part A

Introductory Macroeconomics



National Income and Related Aggregates

10


Money and Banking

6


Determination of Income and Employment

12


Government Budget and the Economy

6


Balance of Payments

6


Total

40

Part B

Indian Economic Development



Development Experience (1947-90) and Economic Reforms since 1991

12


Current Challenges facing Indian Economy

20


Development Experience of India – A Comparison with Neighbours

8


Total

40

CBSE Class 12 Economics Syllabus in Depth

Chapters 1: National Income and Related Aggregates

The definition of macroeconomics and its fundamental ideas, such as capital, consumption of products, final and intermediate goods, gross investment, and depreciation, are generally covered in Chapters 1 Class 12 Macroeconomics revision notes.


Also, it thoroughly discusses a number of important subjects, including the circular flow of income (using a two-sector model), the gross national product (GNP), the gross domestic product (GDP), the net domestic product (NDP), and welfare.


Chapters 2: Money and Banking

Students can better comprehend the fundamentals of money and its supply chain with the help of Chapters 2 Class 12 Economics revision materials (synchronisation between the currency held by the public and demand deposits held by banks).


Understanding the Central Banking System's Money Production Mechanism and the fundamental operations of the Central Bank require understanding this chapter (e.g. Reserve Bank of India). The following are some key ideas covered in the Chapters 2 Macroeconomics revision notes for Class 12:


  • Bank of issue

  • Government Bank

  • Banker’s Bank

  • Control of Credit


Chapters 3: Determination of Income and Employment

The key points covered in Chapters 3 Class 12 Macroeconomics revision notes are:


  • Parts of the Total Demand

  • Output of Short-Run Equilibrium

  • Employment Voluntary and Full Employment

  • How to address the issues of high demand and low supply?

  • Reverse Repo Rate

  • Margin Requirements

  • Open Market Operations


Chapters 4: Government Budget and the Economy

One of the most important chapters in Macroeconomics for Class 12 aids students in understanding the budget allotted to or by the particular government, as well as its meaning, purposes, and components. The following Chapters 3 ideas are thoroughly covered in Class 12 Economics revision notes.


  • Receipts are divided into two categories: revenue receipts and capital receipts.

  • Revenue expenditure and capital expenditure are the two categories of expenditure.

  • There are several ways to measure government deficits, including fiscal, primary, and revenue deficits.


Chapters 5: Balance of Payments

The definitions of Fixed Foreign Exchange Rate and Flexible Fixed Foreign Exchange Rate are mostly provided in the revision notes for Class 12 Macroeconomics Chapter 5. Also, the purpose of Payment Accounts and its elements are covered.


Indian Economic Development: Part B of the CBSE Class 12 Economics Syllabus

Chapters 6: Development Experience (1947-90) and Economic Reforms since 1991

One of the most fascinating and significant chapters of the Class 12 Economics curriculum is this one. The Introduction of the Indian Economy and the general objectives of the five-year plans of the Indian Economic System are largely covered in the revision notes for Class 12 Economics Chapter 6. The policies relating to agriculture, business and international commerce, liberalisation, and privatisation—along with the crucial concepts of demonetisation and GST—are all made clear to students in this chapter.


Chapters 7: Current Challenges facing Indian Economy

The Class 12 economics revision notes for Chapter 7 assist students in reviewing and comprehending the key issues influencing the Indian economy.


  • Poverty

  • Unemployment

  • Human Capital Formation

  • Rural Development

  • Infrastructure


Chapters 8: Development Experience of India

Economics Chapter 8 revision notes mostly discuss India's development story by contrasting it with nearby nations like Pakistan and India. It also identifies several crucial problems that must be solved for India to fully grow.


CBSE Class 12 Economics Syllabus and Questions Weightage 

Chapters

Chapter Name

Marks

Part A

Introductory Macroeconomics



National Income and Related Aggregates

10


Money and Banking

6


Determination of Income and Employment

12


Government Budget and the Economy

6


Balance of Payments

6


Total

40

Part B

Indian Economic Development



Development Experience (1947-90) and Economic Reforms since 1991

12


Current Challenges facing Indian Economy

20


Development Experience of India – A Comparison with Neighbours

8


Total

40


Summary of the Micro-Economics & Macro-Economics Syllabus for Class 12

The main topic of discussion in the Economics Chapter 8 revision notes is India's development history in comparison to other adjacent countries like India and its neighbouring countries. It also points out a number of pressing issues that must be resolved for India to completely develop.


  • The estimation of specific product and factor prices.

  • Allocating resources to their most crucial uses in order to increase an economy's overall output (i.e. content with the central problem of an economy such as what to produce, how to produce and for whom to produce).


NCERT Class 12 Microeconomics syllabus covers an introduction to the subject, while the remaining chapters cover a variety of subjects including the Theory of Consumer Behaviour, Production, and Cost, the Theory of the Firm Under Perfect Competition, Market Equilibrium, and Non-Competitive Markets are cover in Macroeconomics.


CBSE Class 12 Microeconomics Books To Refer

  • Start by reading the NCERT textbook for Class 12 Microeconomics. Utilise it all year to understand the fundamental ideas in the various chapters.

  • Another significant book that can be used as a reference is TR Jain and VK Ohri. Students frequently utilise this book because of its straightforward approach to comprehending various concepts and chapters.

  • One of the top study guides for practising and reviewing the complete Class 12 Microeconomics curriculum is Class 12 Economics by Sandeep Garg. In Sandeep Garg Economics Class 12, most of the questions are likely to be asked in the board exam.


Download and Practise CBSE Class 12 Economics Solutions

CBSE Class 12 Economics Solutions are comprehensive guides designed to assist students in mastering the subject of economics. These solutions are tailored to CBSE curriculum and provide a step-by-step approach to solving problems, making them ideal for self-study or exam preparation.


These solutions cover all the topics in the CBSE Class 12 Economics syllabus, including micro and macroeconomics, Indian economy, globalisation, and international trade. The solutions are presented in an easy-to-understand language and are enriched with examples and illustrations, making them more accessible for students.


Moreover, CBSE Class 12 Economics Solutions are created by subject matter experts who have years of experience in teaching and preparing students for the board exams. Thus, students can rely on these solutions for accurate and reliable information.


You can download the NCERT solutions from the links given below:



Conclusion

CBSE Class 12 Economics is a vital subject that helps students understand the fundamental concepts of economics and their application in the real world. The availability of notes, PDFs, and book references have made it easier for students to access study materials that can help them score well in exams. Moreover, understanding the marks weightage and exam pattern can help students to prepare better and achieve their desired grades.


It is crucial for students to devote enough time and effort to prepare for the Class 12 Economics exams to excel in the subject. By using the right study materials and following a structured study plan, students can gain a deep understanding of the concepts and score well in the exams. With dedication, perseverance, and the right resources, students can achieve academic success in CBSE Class 12 Economics.

FAQs on CBSE Class 12 Economics: Notes, PDFs, Marks Weightage and Book Reference

1. How many chapters are there in Microeconomics of Class 12?

Microeconomics of Class 12 has a total of six chapters. They are as follows:

  • Introduction to Microeconomics

  • Theory of Consumer Behavior

  • Production and Costs

  • Theory of a firm under Perfect Competition

  • Market Equilibrium

  • Non-competitive Markets.

Starting from the basics and importance of the subject to the requirements of a production house, cost curve, knowing the consumer, and different types of markets, you will learn about everything intensively in these chapters.

2. What alternative nomenclature would you use for microeconomics class 12?

Price theory is a another name for microeconomics. A microeconomic theory called the theory of price uses the idea of supply and demand to establish the right price for an item or service.

3. Why is it important to study Macroeconomics?

Macroeconomics is the study of estimating individual product and factor prices. Furthermore, the distribution of resources according to their primary function in an effort to increase an economy's overall output. In order to comprehend and calculate answers to the three production-related questions of what, how, and when, it is essential to study microeconomics in class twelve. You gain insight into everything needed to enter the market as a producer through this subject as well.

4. What is Economics?

Economics is the study of resource distribution for a nation's economic welfare. It covers such topics as employment, capital, labour, physical resources, and the production of products and services. Studying economics is important since it teaches us many strategies for boosting a country's income, employment, and development.


Economics 12 covers significant subjects that teach the students about critical facets of the economy of a developing country. Here are some useful revision notes for this subject for students.

5. How to identify the best study notes for Macroeconomics?

The following qualities make study notes useful and efficient:


  • They must be succinct, unambiguous, and comprehensive.

  • They shouldn't include any lengthy or needless content.

  • They should be prepared by teachers with experience.

  • As appropriate, pertinent diagrams should be used to describe them in a way that is simple to understand.


Such expertly written chapter-by-chapter revision notes for Class 12 Macroeconomics are available on the Vedantu website and Vedantu app.