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SYLLABUS- 2021-2022
CLASS: 12 SUBJECT: ECONOMICS

UNIT CONTENT

1. Introduction to 1.1 Introduction to Macro Economics

Macro Economics 1.2 Meaning of macro economics
1.3 Importance of macro economics
1.7 Economic Systems
1.7.1 Capitalist economy

L
1.7.2 Socialistic Economy (Socialism)
1.7.3 Mixed Economy

A
1.9 Circular flow of income
1.9.1 Circular Flow of Income in a Two-Sector
Economy:

D
1.9.2 Circular Flow of Income in a Three-Sector
Economy:
1.9.3 Circular flow of income in a four sector
A
economy
2. National Income 2.1 National Income –Introduction
IK
2.2 Meaning of National Income
2.4.1 Gross Domestic Product (GDP)
2.4.2 Gross National Product (GNP)
2.4.7 Per capita Income
2.4.8 Real Income
LV

2.4.9 GDP deflator

2.5 Methods of Measuring National Income
2.5.1 Product Method (Value Added)
2.5.2 Income Method
2.5.3 Expenditure Method
A

3.Theories of 3.1 Theories of Employment and Income-

Employment and Introduction
Income 3.2 Meaning of Full Employment
K

3.3 Unemployment and its types

3.4.1 Say’s Law of Market
3.6 Effective demand
3.6.1 Aggregate Demand Function (ADF)
3.6.2 Aggregate Supply Function (ASF)
4. Consumption and 4.1 Introduction
investment functions 4.2 Consumption Function
4.2.1 Meaning of Consumption function
4.2.2 Technical Attributes of the Consumption
function

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4.3 Investment Function

4.3.1 Meaning of investment
4.3.2 Types of investment
4.3.3 Determinants of Investment Function
4.3.4 Relationship between the rate of Interest and
investment
4.3.5 Marginal Efficiency of Capital.
4.3.6 Marginal Efficiency of Investment(MEI)
4.4 Multiplier
4.4.1 Assumptions of Multiplier

L
4.4.2 Marginal propensity to consume and
multiplier.

A
4.4.4 Classification of Multiplier
4.4.6 Uses of multiplier
4.5 The Accelerator Principle

D
4.5.1 Meaning
4.5.2 Definition
4.5.3 Assumptions

5. Monetary Economics
4.5.4
4.5.5
5.1
A
Operation of the Acceleration Principle
Limitations
Introduction
IK
5.2 Money
5.2.1 Meaning
5.2.4 Functions of money
5.3 Supply of money
5.4 Quantity theories of money
LV

5.5 Inflation
5.5.1 Meaning of inflation
5.5.2 Types of inflation
5.5.3 Causes of inflation
5.7 Trade cycle
A

5.7.1 Meaning of trade cycle

5.7.2 Phases of trade cycle
6. Banking 6.1 Introduction
K

6.3 Commercial banks

6.3.1 Functions of Commercial Banks
6.3.3 Role of commercial banks in Economic
development of a country.
6.5 Central Bank
6.5.1 Functions of RBI
6.5.2 Credit control measures
6.5.4 Reserve Bank of India and Rural Credit

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6.5.5 Role of RBI in Agricultural credit

6.5.6 Functions of Agriculture Credit Department
6.8 NABARD and its role in Agricultural credit
6.8.1 Functions of NABARD
6.9 Reserve bank of India and Industrial
Finance
6.9.1 Institutional Set-up:
6.9.2 All-India Level Institutions:
6.9.3 State Level Institutions
6.10 Monetary policy

L
6.10.2 Objectives of Monetary Policy
6.11 Recent advancements in banking sector

A
6.11.1 E- Banking
6.11.2 RTGS and NEFT
6.11.3 ATM (Automated Teller Machine)

D
6.11.4 Paytm
6.11.5 Debit card and Credit Card
6.11.7 Merger of Banks
6.12
6.13
6.14
A
Money Market
Capital Market
Demonetisation
IK
6.14.1 Objectives of Demonetisation
7. International 7.1 International economics -Introduction
Economics 7.2 Meaning of International Economics
7.3 Subject matter of International Economics
7.4 Meaning of Trade
LV

7.4.1 Internal Trade

7.4.2 International Trade
7.4.3 Difference between Internal and
International Trade
7.6 Gains from International Trade
A

7.7 Terms of Trade

7.7.1 Meaning
7.8 Balance of Trade vs. Balance of payments
K

7.8.1 Balance of Trade (BOT)

7.8.2 Balance of Payments (BOP)
7.8.3 Components of BOPs
7.9 Exchange Rate
7.9.1 Meaning of Foreign Exchange (FOREX)
7.9.2 Definition of FOREX
7.9.3 Rate of Exchange

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7.9.4 Definition of Equilibrium Exchange Rate

7.9.5 Determination of Equilibrium Exchange Rate
7.9.6 Types of Exchange Rate Systems
7.9.7 Types of Exchange Rates
7.9.8 Determinants of Exchange Rate
7.10 Foreign Direct Investment and Trade
7.10.1 Meaning of FDI
7.10.3 Advantages of FDI
7.10.5 FDI in India
8. International 8.1 Introduction

L
Economic Organization 8.2 International monetary fund
8.2.1 Objectives of IMF

A
8.2.2 Functions of IMF
8.2.3 Facilities offered by IMF
8.2.4 Achievements of IMF

D
8.2.5 India and IMF
8.3 International Bank for Reconstruction and
Development of Bank or World Bank
A
8.3.2 Functions of IBRD
8.3.4 India and World Bank
8.4 World Trade Organization
IK
8.4.2 Functions of WTO
8.4.4 WTO and India
8.6 South Asian Association for Regional Co-
operation (SAARC)
8.6.2 Functions of SAARC
LV

8.7 Association of South East Asian Nations

(ASEAN)
8.7.2 Functions of ASEAN
8.8 BRICS
8.8.2 Functions of BRICS
A

9. Fiscal Economics 9.1 Introduction

9.2 Meaning of public finance
9.3 Definitions
K

9.4 Subject matter

9.6 Functions of Modern State
9.7 Public expenditure

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9.7.1 Definition / meaning

9.7.2 Definition
9.8 Public Revenue
9.8.1 Meaning
9.8.2 Classification of public revenue
9.9 Tax Revenue
9.9.1 Meaning
9.9.3 Characteristics of tax
9.9.4 Non-tax revenue
9.9.5 Canons of taxation

L
9.9.6 Direct and indirect tax
9.9.12 Comparison chart

A
9.9.13 GST
9.10 Public debt
9.10.1 Definition

D
9.10.2 Types of public debt
9.11 Budget
9.11.1 Definition
9.11.2
9.11.3
9.12
A
Union and State budget
Types of budget
Federal finance
IK
9.12.1 Principles of Federal finance
9.13 History of finance commission
9.13.1 Functions of finance commission of India
9.14 Local finance
9.15 Fiscal policy
LV

9.15.1 Meaning of Fiscal Policy

9.15.3 Fiscal instruments
9.15.4 Objectives of fiscal policy
10. Environmental 10.3 Eco-system
economics 10.7 Pollution
A

10.7.1 Air pollution

10.7.2 Water Pollution
10.7.3 Noise Pollution
K

10.7.4 Land Pollution

10.8 Global warming
10.9 Climate Change
10.10 Acid rain
10.11 E-waste
10.12 Sustainable Development
10.12.1 Sustainable development goals

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11. Economics of 11.6 Vicious circle of poverty

Development and 11.6.1 Breaking the vicious circle of poverty
Planning 11.7 Planning
11.7.1 Economic Planning in India
11.7.2 Case for planning
11.7.3 Case against planning
11.8 Types of planning
11.9 NITI Aayog
11.9.1 Functions of NITI Aayog
12. Introduction to 12.1 Etymology and milestone of statistics in

L
Statistical Methods and global level
Econometrics 12.2 Evolution of Statistics in India

A
12.3 Definitions of Statistics
12.4 Characteristics and Functions of Statistics
12.10 Arithmetic mean / median

D
12.11 Standard Deviation (σ)

A
IK
LV
A
K

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