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    12th Economic Syllabus 2024-25

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    Akashdeep singh

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    12th Economic Syllabus 2024-25

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    Akashdeep singh
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    1711523338_12th Economic Syllabus 2024-25

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    17 views2 pages

    12th Economic Syllabus 2024-25

    Uploaded by

    Akashdeep singh

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    ECONOMICS (HUMANITIES/COMMERCE GROUP)

    CLASS – XII
    2024-25
    Time Allowed: 3 Hours Theory: 80 Marks
    Internal Assessment including Project Work: 20 Marks
    PART A: INTRODUCTORY MICRO ECONOMICS
    UNIT-1 INTRODUCTION
    A Simple Economy, Central Problems of an Economy, Organisation of Economic Activities, The
    Centrally Planned Economy, The Market Economy, Positive and Normative Economics, Microeconomics
    and Macroeconomics
    UNIT-2 THEORY OF CONSUMER BEHAVIOUR
    Utility Analysis: Cardinal Utility Analysis, Ordinal Utility Analysis, The Consumer’s Budget, Budget Set
    and Budget Line, Changes in the Budget Set, Optimal Choice of the Consumer.
    Demand: Demand Curve and the Law of Demand. Deriving a Demand Curve from Indifference Curves
    and Budget Constraints, Normal and Inferior Goods, Substitutes and Complements, shifts in the Demand
    Curve, Movements along the Demand Curve and Shifts in the Demand Curve, Market Demand.
    Elasticity of Demand: Elasticity along a Linear Demand Curve, Factors Determining Price Elasticity of
    Demand for a Good, Elasticity and Expenditure.
    UNIT-3 PRODUCTION AND COSTS
    Production Function: The Short Run and the Long Run, Total Product, Average Product and Marginal
    Product, The Law of Diminishing Marginal Product and the Law of Variable Proportions, Shapes of Total
    Product, Marginal Product and Average Product Curves, Returns to Scale.
    Costs: Short Run Costs, Long Run Costs.
    UNIT-4: THE THEORY OF THE FIRM UNDER PERFECT COMPETITION
    Perfect Competition: Defining Features, Revenue and Profit Maximization, The Profit Maximization
    Problem: Graphical Representation, Supply Curve of a Firm: Short run and long run supply curve, Shut
    down point, normal profit and break-even point.
    Determinants of a Firm’s Supply Curve: Technological Progress and Input Prices, Market Supply Curve,
    Price Elasticity of Supply.
    UNIT-5 MARKET EQUILIBRIUM
    Equilibrium, Excess Demand, Excess Supply, Market Equilibrium: Fixed Number of Firms and Free
    Entry and Exit.
    Applications of Price Ceiling and Price Floor.
    Unit-6 Non-Competitive Markets

    PART B: INTRODUCTORY MACRO ECONOMICS


    UNIT-1 INTRODUCTION
    Introduction and Emergence of Macroeconomics
    UNIT-2 NATIONAL INCOME ACCOUNTING
    Some Basic Concepts of Macroeconomics, Circular Flow of Income and Methods of Calculating National
    Income: The Product or Value-Added Method, Expenditure Method and Income Method. Concepts of
    Factor Cost, Basic Prices and Market Prices.
    Some Macroeconomic Identities, Nominal and Real GDP, GDP and Welfare
    UNIT-3 MONEY AND BANKING
    Functions of Money, Demand for Money and Supply of Money, Money Creation by Banking System:
    Balance Sheet of a Fictional Bank, Limits to Credit Creation and Money Multiplier. Policy Tools to
    Control Money Supply.
    UNIT-4 DETERMINATION OF INCOME AND EMPLOYMENT
    Aggregate Demand and its Components: Consumption, Investment. Determination of Income in Two-
    sector Model.
    Determination of Equilibrium Income in the Short Run: Macroeconomic equilibrium with price level
    fixed, Effect of an autonomous change in aggregate demand on income and output. The Multiplier
    Mechanism.
    UNIT- 5 GOVERNMENT BUDGET AND THE ECONOMY
    Government Budget – Meaning and its Components, Objectives of Government Budget, Classification of
    Receipts, Classification of Expenditure, Balanced, Surplus and Deficit Budget, Measures of Government
    Deficit.
    UNIT-6 OPEN ECONOMY MACROECONOMICS
    Balance of Payments: Current Account, Capital Account, Balance of Payments Surplus and Deficit.
    The Foreign Exchange Market: Foreign Exchange Rate, Determination of the Exchange Rate, Merits
    and Demerits of Flexible and Fixed Exchange Rate Systems, Managed Floating.

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