Candidates who are in Class 12 should refer to the NCERT Syllabus for Class 12 Economics 2022-2023. Over-viewing the curriculum and understanding CBSE guidelines can assist students in planning their studies. The NCERT Syllabus for Class 12 Economics includes National Income and Related Aggregates, Money and Banking, Determination of Income and Employment, Government Budget and the Economy, and many other important concepts. However, these are further divided into sub-topics, which are discussed in the article below. When students are familiar with the marks distribution, course content, project work, and other important details, they feel confident and their learning abilities gets improved. Most CBSE-affiliated schools prefer the NCERT syllabus because its offers multiple perks. Therefore, we suggest candidates to go through the curriculum and prepare themselves for the exams according to the CBSE guidelines based on the NCERT Syllabus. Read the complete blog to understand all the required details about the NCERT Syllabus for Class 12 Economics 2022-2023. We have also provided the link to download the syllabus PDF.
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Table of Content
NCERT Syllabus for Class 12 Economics 2022-2023
The NCERT Syllabus for Class 12 Economics is an advanced form of the NCERT Economics Syllabus for Class 11. In previous classes, the topics and concepts of Economics were explained normally in a basic pattern. However, in Class 12 Economics these books are framed in an elaborative form that too with comprehensive explanations.
Following is the Marks Distribution for Class 12 Economics syllabus.
NCERT Syllabus for Class 12 Economics 2022-2023: Marks Distribution
The NCERT Syllabus for Class 12 Economics consists of 8 units, which are categorized into two sections or books. These are Introductory Macroeconomics and Indian Economic Development. The theory section holds 80 marks to be completed in 3 hours of duration. The rest 20 marks are kept for practical section.Following is the Marks Distribution for Class 12 Economics syllabus.
| Units | Marks | |
| Part A | Introductory Macroeconomics | 40 |
| 1 | National Income and Related Aggregates | 12 |
| 2 | Money and Banking | 06 |
| 3 | Determination of Income and Employment | 10 |
| 4 | Government Budget and the Economy | 06 |
| 5 | Balance of Payments | 06 |
| Part B | Indian Economic Development | 40 |
| 6 | Development Experience (1947-90) and Economic Reforms since 1991 | 12 |
| 7 | Current Challenges facing Indian Economy | 22 |
| 8 | Development Experience of India - A Comparison with Neighbours | 06 |
| Total | 80 |
NCERT Syllabus for Class 12 Economics 2022-2023: Course Content
Here is the Unit-wise Syllabus for Class 12 Economics for the academic session 2022-2023. Candidates should go through the topics and concepts included in the curriculum. Class 12 Economics syllabus is divided into two parts; Part A: Introductory Macroeconomics and Part B: Indian Economic Development. The further sub-topics are discussed below.
Part A: Introductory Macroeconomics
Unit 1: National Income and Related Aggregates
What is Macroeconomics?
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
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
Proposed Books:
- Statistics for Economics, NCERT
- Indian Economic Development, NCERT
- Introductory Microeconomics, NCERT
- Macroeconomics, NCERT
- Supplementary Reading Material in Economics, CBSE
NCERT Syllabus for Class 12 Economics 2022-2023: PDF Download
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Guidelines for Economic Project Work (Class 12)
The purpose of the project work is to provide students the ability to:
- Further exploration of theoretic principles covered in courses XI and XII
- Using theoretical frameworks and argumentation, analyze and assess real-world economic scenarios
- Show that you understand economic theory.
- Follow up on economics topics that students are interested in
- Acquire the communication abilities to make logical arguments
Role of Teachers-
The teacher's involvement is crucial in helping students improve their critical thinking abilities. A teacher should:
- After thorough discussions and deliberations of the topic, assist each learner in choosing a topic based on recently published news media excerpts, government policies, RBI bulletin, NITI Aayog reports, IMF/World Bank reports, etc.
- Assume the roles of a facilitator and supervisor to track the project work of the learner through periodic discussions.
- Direct the research process with respect to sources for the pertinent information
- Prepare the student for the presentation of the project
The NCERT Syllabus for Class 12 Economics gives a comprehensive idea of the topics and concepts. It can play a crucial role in solving the questions as per NCERT Syllabus for Class 12 Economics.
Where can you download the NCERT Syllabus for Class 12 Economics?
Candidates can download the NCERT Syllabus for Class 12 Business Studies from Safalta's website. Moreover, it is also accessible on the official site of CBSE. Link is also given below.
NCERT Syllabus for Class 12 Economics PDF
NCERT Syllabus for Class 12 Economics PDF
How many units are there in the NCERT Syllabus for Class 12 Economics (Part 1)?
There are 5 units in the NCERT Syllabus for Class 12 Economics (Part 1).
How many units are there in the NCERT Syllabus for Class 12 Economics (Part 2)?
There are 3 units in the NCERT Syllabus for Class 12 Economics (Part 2).
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