By rahul1256 Important concepts in economics are taught to secondary school students through the CBSE Class 12 Economics Syllabus . Students are introduced to how today’s economy impacts the entire country. To better grasp this, students learn essential concepts like statistics. Students later study economics as a concept in more depth, where they become familiar with abstract ideas.
Download the CBSE Class 12th Economics Syllabus 2024–2025.
Changes In Economics Class 12 Syllabus 2024-25
Significant revisions have been made to the syllabus:
- Integrating competency-based with economics has been emphasised.
- Addition of topics like sustainable development and financial.
- Public Debt is deleted from the syllabus.
- Emphasis on the role of the government in the economy.
Economics Class 12 Syllabus 2024-25: Course Structure
Part A: Introductory Macroeconomics
Unit 1: National Income and Related Aggregates: “National Income and Related Aggregates,” Unit 1 of the CBSE Class 12 Economics syllabus, focuses on comprehending the idea of national revenue and its measurement, as well as related aggregates. Students gain knowledge of the several approaches used to calculate the national income, including the income method, the expenditure method, and the product method.
They also discuss how important national income accounting is for evaluating a nation’s economic health and formulating national policy. The unit also covers the link between the terms gross national product (GNP), net national product (NNP), gross value added (GVA), and gross domestic product (GDP). All things considered, this course gives students a basic grasp of how to monitor and analyse a nation’s entire economic activity.
Unit 2: Money and Banking: Students who finish Unit 2: Money and Banking in CBSE Class 12 Economics syllabus will have a thorough understanding of the monetary and banking system, which includes information on the roles played by central and commercial banks, the money market, the functions of money, and the laws that regulate the financial industry.
Students gain knowledge of the roles that money plays in an economy as a store of value, a unit of account, and a medium of exchange. They also research other types of money, such as close money, fiat money, and commodity money.
Unit 3: Determination of Income and Employment: The third unit of CBSE Class 12 Economics explores the fundamental ideas and theories behind how an economy determines its employment and national revenue. Students gain knowledge of the equilibrium level of income and employment, the cyclical flow of income and spending, and the concepts of aggregate supply and demand.
They investigate several variables, including net exports, government spending, investment, and consumption, that affect overall supply and demand. The Keynesian theory of income determination is covered in this section, along with the idea of the multiplier effect and how government measures affect economic stabilisation. Students get a thorough grasp of the variables influencing employment and income levels in an economy via this unit, which is crucial for assessing variations in the economy and creating effective policy responses.
Unit 4: Government Budget and the Economy: Economics Unit 4 of CBSE Class 12: The Government Budget and the Economy emphasises how government funds are used to control the economy. It addresses many topics, including fiscal policy, forms of government budgets, revenue and spending, and how they affect stability and growth in the economy.
The goals of government budgeting, such as distribution, allocation, and stabilisation, are taught to students. The section also explores the elements that makeup government revenue and spending, as well as the origins and consequences of each. Furthermore, it examines the idea of a budget deficit, its effects, and solutions. Students learn how government policies affect economic activity and advance the welfare and growth of the economy as a whole via class 12 economics syllabus 2024-25
Unit 5: Balance of Payments: Students get a thorough grasp of the Balance of Payments, its components, measuring techniques, and economic ramifications in Unit 5. It gives students the fundamental information and analytical abilities needed to evaluate BoP data and assess its importance concerning global commerce and finance.
This section of the unit focuses on the financial account, which keeps track of global financial activities such as portfolio investments, foreign direct investment (FDI), and adjustments to reserve assets. Students investigate what influences a financial account balance and how important it is to the economics of a nation.
Part B: Indian Economic Development
Unit 6: Development Experience (1947-90) and Economic Reforms since 1991: Unit 6 focuses on India’s development history from independence until 1990, then highlights the difficulties, successes, and consequences for the Indian economy of the revolutionary economic changes that started in 1991. The Indian economy saw substantial changes as a result of these reforms, including faster growth rates, more foreign investment, and advancements in industries like services and information technology.
However, issues including inequality, regional differences, and environmental deterioration all presented difficulties for the changes.
Unit 7: Current challenges facing the Indian Economy: The 7th unit of the CBSE Class 12 Economics syllabus gives students an understanding of the various issues facing the Indian economy and promotes critical thinking on potential solutions.
Recognising the methods for sustainable growth and the environmental issues the Indian economy faces. Studying the connections between environmental sustainability, development, and economic growth as well as the contribution of economic reforms to these issues.
Unit 8: Development Experience of India: The topic of “Development Experience of India” is the emphasis of Unit 8 of the CBSE Class 12 Economics syllabus. An overview of India’s economic progress since independence is given to students in this course. It addresses several topics, including policy measures, and economic planning, and how they affect sustainability, equality, and growth.
Students gain knowledge of the important phases of India’s growth path, such as the pre-reform period, the economic reform era, and the current issues the Indian economy is experiencing. The course also discusses issues of poverty, inequality, and employment, as well as the contribution of industry, the service sector, and agriculture to India’s growth. All things considered, it gives students a clearer grasp of India’s economic trajectory by illuminating the nuances and dynamics of the nation’s development experience.
Economics Class 12 Syllabus 2024-25: Importance
Foundation for Higher Education: Students who want to study economics or related subjects at the undergraduate level generally find that the Class 12 Economics syllabus provides a good starting point. It gives students foundational ideas and theories that they may expand upon in their future education.
Understanding Economic Systems: Economics is an essential topic that helps students comprehend the macro and microeconomic workings of economies. Students obtain an understanding of the elements impacting the economic decisions made by individuals, businesses, and governments through the syllabus, which covers a variety of economic systems including capitalism, socialism, and mixed economies.
Getting Ready for Competitive Exams: Economics is a subject that appears on a lot of competitive national and state examinations. Students can prepare for these examinations, which include admission exams for undergraduate degrees, civil services exams, and other government recruiting exams, by studying the topics included in the Economics class 12 syllabus.
Comprehending Economic Participation: Studying economics in class 12 not only boosts academic performance but also helps students become responsible, knowledgeable citizens. To engage in democratic processes and make an educated contribution to the public debate on economic topics, they acquire a deeper grasp of economic issues and policies.
As it gives students viewpoints, information, and skills that are useful for their academic, professional, and community activities, the class 12 Economics syllabus is important for examinations. read more..
