SESSION (2024-25)
ANNUAL SYLLABUS
CLASS XII
SUBJECT- ECONOMICS (030)
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
Deflator, 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 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 and
their significance
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
1. Human Capital Formation: How people become resource; Role of human
capital ineconomic development; Growth of Education Sector in India.
2. Rural development: Key issues - credit and marketing - role of cooperatives;
agricultural diversification;alternative farming - organic farming
3. Employment: Growth and changes in work force participation rate in formal and
informal sectors; problems and policies
MID TERM EXAMINATION SYLLABUS
MUST BECOMPLETED BY 15th SEPTEMBER,
2024 PREPARATION FOR MID TERM
EXAMINATION
MID TERM EXAMINATION
DISCUSSION OF MID TERM QUESTION PAPER
Part A Introductory Macroeconomics
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 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
ANNUAL SYLLABUS
CLASS XII
SUBJECT- ECONOMICS (030)
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
Deflator, 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 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 and
their significance
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
1. Human Capital Formation: How people become resource; Role of human
capital ineconomic development; Growth of Education Sector in India.
2. Rural development: Key issues - credit and marketing - role of cooperatives;
agricultural diversification;alternative farming - organic farming
3. Employment: Growth and changes in work force participation rate in formal and
informal sectors; problems and policies
MID TERM EXAMINATION SYLLABUS
MUST BECOMPLETED BY 15th SEPTEMBER,
2024 PREPARATION FOR MID TERM
EXAMINATION
MID TERM EXAMINATION
DISCUSSION OF MID TERM QUESTION PAPER
Part A Introductory Macroeconomics
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 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
