Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages
Categories
eBooks
Objective Type
Solved Question

CBSE 11th Class Economics 2018-19

Class XI Part A: Introductory Microeconomics Part B: Statistics for Economics
Class XII Part A: Introductory Microeconomics Part B: Introductory Macroeconomics

CBSE 12th Class Economics 2019-20

Class XI Part A: Introductory Microeconomics Part B: Statistics for Economics
Class XII Part A: Introductory Macroeconomics Part B: Indian Economic Development
CBSE 12th Class Economics Syllabus

Part A: Introductory Microeconomics

Unit 1: Introduction — 8 Periods

Meaning of microeconomics and macroeconomics; positive and normative economics
What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of production possibility frontier and opportunity cost.

Unit 2: Consumer’s Equilibrium and Demand — 32 Period

Consumer’s equilibrium – meaning of utility, marginal utility, law of diminishing marginal utility, conditions of consumer’s equilibrium using marginal utility analysis.

Indifference curve analysis of consumer’s equilibrium-the consumer’s budget (budget set and budget line), preferences of the consumer (indifference curve, indifference map) and conditions of consumer’s equilibrium.

Demand, market demand, determinants of demand, demand schedule, demand curve and its slope, movement along and shifts in the demand curve; price elasticity of demand – factors affecting price elasticity of demand; measurement of price elasticity of demand – percentage-change method.

Unit 3: Producer Behaviour and Supply 32 Periods

Meaning of Production Function – Short-Run and Long-Run
Total Product, Average Product and Marginal Product.
Returns to a Factor
Cost: Short run costs – total cost, total fixed cost, total variable cost; Average cost; Average fixed cost, average variable cost and marginal cost-meaning and their relationships.
Revenue – total, average and marginal revenue – meaning and their relationship.

Producer’s equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost. Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply – percentage-change method.

Unit 4: Forms of Market and Price Determination under Perfect Competition with simple applications.–28 Periods

Perfect competition – Features; Determination of market equilibrium and effects of shifts in demand and supply.
Other Market Forms – monopoly, monopolistic competition, oligopoly – their meaning and features.
Simple Applications of Demand and Supply: Price ceiling, price floor.

Part B: Statistics for Economics

In this course, the learners are expected to acquire skills in collection, organisation and presentation of quantitative and qualitative information pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools to analyse, and interpret any economic information and draw appropriate inferences. In this process, the learners are also expected to understand the behaviour of various economic data.

Unit 1: Introduction 07 Periods

What is Economics?
Meaning, scope, functions and importance of statistics in Economics

Unit 2: Collection, Organisation and Presentation of data 27 Periods

Collection of data – sources of data – primary and secondary; how basic data is collected, with concepts of Sampling; Sampling and Non-Sampling errors; methods of collecting data; some important sources of secondary data: Census of India and National Sample Survey Organisation.
Organisation of Data: Meaning and types of variables; Frequency Distribution.
Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: (i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams (histogram, polygon and ogive) and (iii) Arithmetic line graphs (time series graph).

Unit 3: Statistical Tools and Interpretation 66 Periods

(For all the numerical problems and solutions, the appropriate economic interpretation may be attempted. This means, the students need to solve the problems and provide interpretation for the results derived.)
Measures of Central Tendency– mean (simple and weighted), median and mode
Measures of Dispersion – absolute dispersion (range, quartile deviation, mean deviation and standard deviation); relative dispersion (co-efficient of range, co-efficient of quartile-deviation, co-efficient of mean deviation, co-efficient of variation); Lorenz Curve: Meaning, construction and its application.
Correlation – meaning and properties, scatter diagram; Measures of correlation – Karl Pearson’s method (two variables ungrouped data) Spearman’s rank correlation.
Introduction to Index Numbers – meaning, types – wholesale price index, consumer price index and index of industrial production, uses of index numbers; Inflation and index numbers.

Part C: Developing Project in Economics 20 Periods

The students may be encouraged to develop projects, as per the suggested project guidelines. Case studies of a few organisations / outlets may also be encouraged. Under this the students will do only ONE comprehensive project using concepts from both part A and part B.
Some of the examples of the projects are as follows (they are not mandatory but suggestive):
(i) A report on demographic structure of your neighborhood.
(ii) Changing consumer awareness amongst households.
(iii) Dissemination of price information for growers and its impact on consumers.
(iv) Study of a cooperative institution: milk cooperatives, marketing cooperatives, etc.
(v) Case studies on public private partnership, outsourcing and outward Foreign Direct Investment.
(vi) Global warming.
(vii) Designing eco-friendly projects applicable in school such as paper and water recycle.
The idea behind introducing this unit is to enable the students to develop the ways and means by which a project can be developed using the skills learned in the course. This includes all the steps involved in designing a project starting from choosing a title, exploring the information relating to the title, collection of primary and secondary data, analysing the data, presentation of the project and using various statistical tools and their interpretation and conclusion.

Suggested Question Paper Design

CBSE March 2019 Examination

CBSE 12th Class Economics Syllabus

CBSE 2018-19 Syllabus

CBSE 12th Class Economics Syllabus

Part A: Introductory Microeconomics

Unit 1: Introduction 8 Periods

Meaning of microeconomics and macroeconomics; positive and normative economics

What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of production possibility frontier and opportunity cost.

Unit 2: Consumer’s Equilibrium and Demand 32 Periods

Consumer’s equilibrium – meaning of utility, marginal utility, law of diminishing marginal utility, conditions of consumer’s equilibrium using marginal utility analysis.

Indifference curve analysis of consumer’s equilibrium-the consumer’s budget (budget set and budget line), preferences of the consumer (indifference curve, indifference map) and conditions of consumer’s equilibrium.

Demand, market demand, determinants of demand, demand schedule, demand curve and its slope, movement along and shifts in the demand curve; price elasticity of demand – factors affecting price elasticity of demand; measurement of price elasticity of demand – percentage-change method.

Unit 3: Producer Behaviour and Supply 32 Periods

Meaning of Production Function – Short-Run and Long-Run

Total Product, Average Product and Marginal Product.

Returns to a Factor

Cost: Short run costs – total cost, total fixed cost, total variable cost; Average cost; Average fixed cost, average variable cost and marginal cost-meaning and their relationships.

Revenue – total, average and marginal revenue – meaning and their relationship.

Producer’s equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost. Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply – percentage-change method.

Unit 4: Forms of Market and Price Determination under Perfect Competition with simple applications. 28 Periods

Perfect competition – Features; Determination of market equilibrium and effects of shifts in demand and supply.

Other Market Forms – monopoly, monopolistic competition, oligopoly – their meaning and features.

Simple Applications of Demand and Supply: Price ceiling, price floor.

Part B: Introductory Macroeconomics

Unit 5: National Income and Related Aggregates 28 Periods

Some basic concepts: 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 and Net Domestic Product (GDP and NDP) – at market price, at factor cost; Real and Nominal GDP.

GDP and Welfare

Unit 6: Money and Banking 15 Periods

Money – meaning and 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 7: Determination of Income and Employment 27 Periods

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 8: Government Budget and the Economy 15 Periods

Government budget – meaning, objectives and components.

Classification of receipts – revenue receipts and capital receipts; classification of expenditure – revenue expenditure and capital expenditure.

Measures of government deficit – revenue deficit, fiscal deficit, primary deficit their meaning.

Unit 9: Balance of Payments 15 Periods

Balance of payments account – meaning and components; balance of payments deficit-meaning.

Foreign exchange rate – meaning of fixed and flexible rates and managed floating.

Determination of exchange rate in a free market.

Part C: Developing Project in Economics 20 Periods

Suggested Question Paper Design

CBSE March 2019 Examination

CBSE 12th Class Economics Syllabus
Note: There will be Internal Choice in questions of 3 marks, 4 marks and 6 marks in both sections (A and B). (Total 3 internal choices in section A and total 3 internal choices in section B).

Guidelines for Project Work in Economics (Class XII)

 Students are supposed to pick any ONE of the two suggested projects.
 The project should be of 30-40 pages (approx), preferably hand-written.
 Teachers should help the students to select the topic after detailed discussions and deliberations. Teacher should play the role of a facilitator and should supervise and monitor the project work of the student. The teacher must periodically discuss and review the progress of the project.
 The teacher must play a vital role of a guide in the research work for the relevant data, material and information regarding the project work. Also, the students must be guided to quote the source (in the Bibliography/References section) of the information to ensure authenticity.
 The teacher must ensure that the students actually learn the concepts related to the project as he/she would be required to face questions related to the project in viva-voce stage of the final presentation of the project. Empirical study based / investing project work may be appreciated.
 The teacher may arrange a presentation in the classroom of each and every student so that students may learn from each others’ project work.
 The teacher must ensure that the students learn various aspects of the concept related to the topic of the project work.

I. Project (Option One) : What’s Going Around Us

The purpose of this project is to –
 Enable the student to understand the scope and repercussions of various Economic events and happenings taking place around the country and the world. (eg. The Dynamics of the Goods & Services Tax and likely impacts on the Indian Economy or the Economics behind the Demonetisation of 500 and 1000 Rupee Notes and the Short Run and Long Run impact on the Indian Economy or The impact of BREXIT from the European Union etc.)
 Provide an opportunity to the learner to develop economic reasoning and acquire analytical skills to observe and understand the economic events.
 Make students aware about the different economic developments taking place in the country and across the world.
 Develop the understanding that there can be more than one view on any economic issue and to develop the skill to argue logically with reasoning.
 Compare the efficacy of economic policies and their respective implementations in real world situations and analyse the impact of Economic Policies on the lives of common people.
 Provide an opportunity to the learner to explore various economic issues both from his/her day to day life and also issues which are of broader perspective.

Scope of the project: Student may work upon the following lines:

 Introduction
 Details of the topic
 Pros and Cons of the economic event/happening
 Major criticism related to the topic (if any)
 Students’ own views/perception/ opinion and learning from the work
 Any other valid idea as per the perceived notion of the student who is actually working and presenting the Project-Work.

Mode of presentation and submission of the Project: At the end of the stipulated term, each student will present the work in the Project File (with viva voce) to the external examiner.
Marking Scheme: Marks are suggested to be given as –

CBSE 12th Class Economics Syllabus
The external examiner should value the efforts of the students on the criteria suggested

CBSE Suggestive List

1. Micro and small scale industries
2. Food supply channel in India
3. Contemporary employment situation in India
4. Disinvestment policy
5. Health expenditure (of any state)
6. Goods and Services Tax Act
7. Inclusive growth strategy
8. Human Development Index
9. Self help groups
10. Any other topic

II. Project (Option Two): Analyse any concept from the syllabus

The purpose of this project is to –
 Develop interest of the students in the concepts of Economic theory and application of the concept to the real life situations.
 Provide opportunity to the learners to develop economic reasoning vis-a-vis to the given concept from the syllabus.
 Enable the students to understand abstract ideas, exercise the power of thinking and to develop his/her own perception
 To develop the understanding that there can be more than one view on any economic issue and to develop the skill to argue logically with reasoning
 Compare the efficacy of economic policies in real world situations
 To expose the student to the rigour of the discipline of economics in a systematic way
 Impact of Economic Theory/ Principles and concepts on the lives of common people

Scope of the project:

Following essentials are required to be fulfilled in the project.
Explanation of the concept:
– Meaning and Definition
– Application of the concept
– Diagrammatic Explanation (if any)
– Numerical Explanation related to the concept etc. (if any)
– Students’ own views/perception/ opinion and learning from the topic..

Mode of presentation and submission of the Project:

At the end of the stipulated term, each student(s) will present their work in the Project File (with viva voce) to the external examiner.
Marking Scheme:
Marks are suggested to be given as –
CBSE 12th Class Economics Syllabus
The external examiner should value the efforts of the students on the criteria suggested.

CBSE Suggested List:

 Price Determination
 Price Discrimination
 Opportunity Cost
 Production Possibility Curve
 Demand and its determinants
 Supply and its determinants
 Production – Returns to a Factor
 Cost function and Cost Curves
 Monopoly
 Oligopoly
 Monopolistic Competition
 Credit Creation
 Money Multiplier
 Central Bank and its functions
 Government Budget & its Components
 Budget deficit
 Exchange Rate Systems
 Foreign Exchange Markets
 Balance of payments
 Any other topic
Contact us for tutoring and homework help