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CBSE Class 12 Economics Syllabus 2024-25: Updated Curriculum

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Economics Syllabus Class 12 CBSE 2024-25 - FREE PDF Download

The latest syllabus for Class 12 Economics in accordance with the CBSE has been unveiled for the academic year 2024-25. This revised syllabus comprises eight units, encompassing essential subjects like national income, money and banking, income and employment determination, government budget and its impact on the economy, balance of payments, India's development experience, and an economics project. Vedantu provides a comprehensive PDF for Economics Syllabus Class 12 CBSE 2024-25, created by subject matter experts to ensure they are relevant to the latest CBSE guidelines. Rest assured, the Economics Syllabus Class 12 CBSE 2024-25 PDF is the one thing students need to crack the examinations of CBSE Class 12 Economics.

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Table of Content
1. Economics Syllabus Class 12 CBSE 2024-25 - FREE PDF Download
2. CBSE Economics Class 12 Syllabus 2024-25:
3. Part A: Introductory Macroeconomics
    3.1Unit 1: National Income and Related Aggregates 
    3.2Unit 2: Money and Banking
    3.3Unit 3: Determination of Income and Employment
    3.4Unit 4: Government Budget and the Economy 
    3.5Unit 5: Balance of Payments
4. Part B: Indian Economic Development
    4.1Unit 6: Development Experience (1947-90) and Economic Reforms Since 1991:
    4.2Unit 7: Current Challenges Facing Indian Economy
    4.3Unit 8: Development Experience of India
5. Part C: Project In Economics
    5.1Importance of the Chapters of Class 12 Economics Syllabus
    5.2Project Work Class 12 - Economics
6. Question Paper Design for Class 12th Economics 2024-25:
7. Prescribed Books for Class 12 Economics:
8. Why Should You Download the Economics Syllabus Class 12 CBSE 2024-25 PDF?
9. Related Topic Pages for CBSE Economics Class 12:
10. CBSE Class 12 Study Materials
FAQs

CBSE Economics Class 12 Syllabus 2024-25:

Theory: 80

Project: 20                                                                                                          Time: 3hrs

U.No

Unit Name

Periods

Marks 

Part A - Introductory Macroeconomics

1

National Income and Related Aggregates

30

10

2

Money and Banking

15

06

3

Determination of Income and Employment 

30

12

4

Government Budget and the Economy

17

06

5

Balance of Payments

18

06

Total

110

40

Part B - Indian Economic Development

1

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

28

12

2

Current Challenges facing Indian Economy

50

20

3

Development Experience of India – A Comparison with Neighbours

12

08

Total

90

40

Part C - Project Work

20

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.


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 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


Part B: 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

Importance of the Chapters of Class 12 Economics Syllabus

Both parts include those topics that a student must learn. The first part talks about the economic terms and processes that banks and nations follow. Part B focuses on India and past experiments with its economy.


Each chapter is interesting to learn and understand, not only for the exams but to know how a nation functions economically. Still, between these two, Macroeconomics is the most crucial chapter of Economics. This topic focuses on the decision-making, structure, behaviour and overall performance of an economy.


Project Work Class 12 - Economics

CBSE has allotted 20 Marks to the project out of 100. Students need to prepare one project file on any topic from the syllabus that relates to their learning. The objective of the project inclusion is to build interpersonal and communication skills among students. A project brings you a lot of new opportunities to learn and grow.


Question Paper Design for Class 12th Economics 2024-25:

S.No.

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

22.50%

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

22.50%


Total

80

100%



Prescribed Books for Class 12 Economics:

Books

Publications

Statistics for Economics

NCERT

Indian Economic Development

NCERT

Introductory Microeconomics

NCERT

Macroeconomics

NCERT

Supplementary Reading Material in Economics

CBSE

Note: Above publications are also available in Hindi.



Why Should You Download the Economics Syllabus Class 12 CBSE 2024-25 PDF?

  • The Class 12 CBSE Economics Syllabus for 2024-25 provides a comprehensive overview of the entire curriculum, making it easy for students to find and understand all topics at a glance.

  • The syllabus is updated for the 2024-25 academic year, reflecting the latest CBSE guidelines.

  • Class 12 Economics Syllabus Chapter Wise PDF highlights important topics and chapters, helping students prioritise their study efforts.

  • The Class 12th Economics Syllabus syllabus is updated for the 2024-25 academic year, reflecting the latest CBSE guidelines.

  • The Economics Syllabus Class 12 CBSE 2024-25 PDF is available for FREE download so that students can access the syllabus anywhere, anytime.


The Economics syllabus Class 12 CBSE 2024-25 PDF by Vedantu is a valuable resource for students. It provides comprehensive, updated content with easy navigation and clear learning objectives. Highlighting key areas and offering supportive resources effectively aids in strategic exam preparation. Since it is accessible online, it ensures students can review and study the syllabus conveniently, making it an essential tool for academic success.


Related Topic Pages for CBSE Economics Class 12:



CBSE Class 12 Study Materials

FAQs on CBSE Class 12 Economics Syllabus 2024-25: Updated Curriculum

1. How to score good marks in CBSE syllabus for Class 12 Economics 2024-25?

To score well in Economics, one should get a thorough idea behind every Economics concept. Students can follow the below-listed techniques to understand the subject more clearly and enhance their chances of scoring well in the exam.

  • Draw graphs wherever required.

  • Follow a particular pattern of notes to revise.

  • Highlight important points.

  • Practice previous papers.

  • Use NCERT for preparations.

  • Install Vedantu learning app to download important topic notes and past question papers.

2. What are the Guidelines of the Project Work in Economics?

The fundamental objectives of the project work are to allow learners to:

  • Examine and evaluate real economic scenarios by using theoretical constructs and arguments.

  • Develop communication skills to argue in a logical manner.

  • Analyse deeper into theoretical concepts learnt in grade 11 and 12.

  • Look into the aspects of Economics in which learners have interest.

3. List the main topics of Class 12 Economics for CBSE syllabus for Class 12 Economics 2024-25?

You can consider each chapter included in the NCERT as important. NCERT follows CBSE syllabus guidelines to design textbooks, so it is always better to read all topics. You can download the textbook of economics Class 12 from the official site of NCERT. However, Vedantu experts have made a list of some most commonly asked topics. 

  • Money and Banking.

  • Producer Behaviour and Supply.

  • Balance of Payments.

  • Consumer Equilibrium and Demand.

  • Government Budget and the Economy.

4. Which part of the CBSE syllabus for Class 12 Economics Term (1 & 2) 2024-25 is more captivating?

Both parts A and B are interesting, but students find part B makes them more curious and fascinates them at the same time. Part B talks about the Indian economy scenario and the history of the Indian financial crisis, inflation in India. All these units bring a picture of India in the past and how India has rectified its wrong decisions. However, chapters of Part A tells you more about economic management and different terminology that runs the nation and world economy.

5. What do Liberalisation, Privatisation and Globalisation reforms mean in Indian Economics according to CBSE syllabus for Class 12 Economics Term (1 & 2) 2024-25?

Liberalisation, Privatisation and Globalisation or LPG reforms came in the 90s when India approached international bodies to help it recover from the economic crisis. Bodies like the World Bank and International Monetary Fund had asked the Indian government to open its trade restrictions for the private sector and the other countries in the world. These steps helped India correct its mistakes that had led to high debt and uncontrolled inflation. Collectively, these measures are known as LPG Reforms.

6. Is the Class 12 Economics Syllabus updated according to the latest CBSE guidelines?

Yes, the syllabus is regularly updated to reflect the latest CBSE guidelines for the academic year 2024-25. This ensures that all content is current and relevant, helping students prepare effectively for their exams.

7. Are there any additional resources provided with the Class 12 Economics Syllabus?

Yes, Vedantu offers additional study materials and resources linked with the syllabus. These include sample papers, important questions, and revision notes. These resources are designed to help reinforce learning and provide ample practice.

8. Where can I find the Economics Class 12 Syllabus 2024-25?

You can FREE download the Economics Syllabus Class 12 CBSE 2024-25 PDF from Vedantu and access and view the syllabus anywhere, anytime you need it.

9. How many units are there in total in the Class 12th Economics Syllabus?

The Class 12th Economics Syllabus comprises 8 units in total. These cover integral topics in the Economics Syllabus Class 12 CBSE 2024-25, ranging from liberalization to globalization,Money and Banking, and Various other chapters in Micro and Macroeconomics.

10. Are there any video tutorials linked with the syllabus?

Yes, Vedantu often includes links to video tutorials and lectures corresponding to the syllabus topics. These videos provide visual explanations and can be very helpful in understanding difficult concepts.