This article covers Syllabus for CBSE Class 12 Economics overview with weightage and in detail. Sample Paper for Year 2018-19 released by CBSE, Model paper or Topper paper for class 12 Economics of earlier years.
CBSE Class 12 Economics Syllabus Overview
CBSE 030 Economics exam is on Wednesday 27 Mar 2019
Its an 80 marks paper of 3 hours duration. Name of the units and their weightage in Board Exam
|Part A: Introductory Microeconomics|
|Consumer’s Equilibrium and Demand||
|Producer Behaviour and Supply||
|Forms of Market and Price Determination under perfect competition with simple applications||
|Part B: Introductory Macroeconomics|
|National Income and Related Aggregates||
|Money and Banking||
|Determination of Income and Employment||
|Government Budget and the Economy||
|Balance of Payments||
1. Introductory Microeconomics, Class XII, NCERT
2. Macroeconomics, Class XII, NCERT
3. Supplementary Reading Material in Economics, Class XII, CBSE
For details about question paper design, marking scheme and guidelines for projects, kindly go through the PDF of the syllabus.
CBSE Sample Paper
CBSE publishes Sample Papers for all the subjects of Class 10 and Class 12. For class 12 Sample papers for all subjects for 2018-19 are available at CBSE webpage here. Sample papers give an idea about the questions, the pattern in the board exam and are one of the best resources for practice and revision along with the previous year’s papers.
- Maximum Marks: 80
- Time Allowed: 3 hours
- The excerpt is given below. You can download the full Question Paper from CBSE webpage here or here.
- The solution can be viewed/downloaded from here
CBSE Answer sheet of the topper in Economics or Model
CBSE issues best answer sheets for the class 12 board examinations for all the papers at their webpage here. These are the actual answer sheets of the student, hand-written, who appeared in the CBSE class 12 board examinations.
CBSE issues these answer sheets for the benefit of students appearing in the upcoming examination so that they can refer to the answer sheets and understand the quality of answers which is expected from the students. Students who have appeared in the board examination and who plan to appear in the examination should download the answer sheets and should compare them with their own set of answers (practice tests).
Topper Answer Sheet of Economics of the Year 2016-17 can be viewed/downloaded from here.
Topper Answer Sheet of Economics of the Year 2015-16 can be viewed/downloaded from here.
CBSE Economics Last Year Question Papers
CBSE also releases last year Question Papers of all the subjects. For class 12th the 3 set of question papers are available in zip format at CBSE webpage Last Year Question Papers
These papers can also be downloaded from our google drive
- Set 1 CBSE Class 12 Economics Paper-2018
- Set 2 CBSE Class 12 Economics Paper-2018
- Set 3 CBSE Class 12 Economics Paper-2018
Details of topics and sub-topics in CBSE Class 12 Economics Exams
Part A: Introductory Microeconomics
Unit I: Introduction
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 II: Consumer’s Equilibrium and Demand
Consumer’s equilibrium – the meaning of utility, marginal utility, the 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 III: Producer Behaviour and Supply
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 the supply curve, price elasticity of supply; measurement of price elasticity of supply – percentage-change method.
Unit IV: Forms of Market and Price Determination under Perfect Competition with simple applications
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
Some basic concepts: consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation.
The 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
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.
The central bank and its functions (the example of the Reserve Bank of India): Bank of the 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
Aggregate demand and its components.
The 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 the – changes in
government spending, taxes and money supply.
Unit 8: 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.
Measures of government deficit – revenue deficit, fiscal deficit, primary deficit their meaning.
Unit 9: Balance of Payments
The balance of payments account – meaning and components; the balance of payments deficit-meaning.
Foreign exchange rate – meaning of fixed and flexible rates and managed to float.
Determination of exchange rate in a free market.