CBSE CLASS XII
ECONOMICS (Code No. 030)
Economics is one of the social sciences, which has a great influence on every human being. As economic life and the economy go through changes, the need to ground education in children’s own experience becomes essential. While doing so, it is imperative to provide them opportunities to acquire analytical skills to observe and understand the economic realities.
At senior secondary stage, the learners are in a position to understand abstract ideas, exercise the power of thinking and to develop their own perception. It is at this stage, the learners are exposed to the rigour of the discipline of economics in a systematic way.
The economics courses are introduced in such a way that in the initial stage, the learners are introduced to the economic realities that the nation is facing today along with some basic statistical tools to understand these broader economic realities. In the later stage, the learners are introduced to economics as a theory of abstraction.
The economics courses also contain many projects and activities. These will provide opportunities for the learners to explore various economic issues both from their day-to-day life and also from issues, which are broader and invisible in nature. The academic skills that they learn in these courses would help to develop the projects and activities. The syllabus is also expected to provide opportunities to use information and communication technologies to facilitate their learning process.
- Understanding of some basic economic concepts and development of economic reasoning which the learners can apply in their day-to-day life as citizens, workers and consumers.
- The realisation of learners’ role in nation-building and sensitivity to the economic issues that the nation is facing
- Equipment with basic tools of economics and statistics to analyse economic issues. This is pertinent for even those who may not pursue this course beyond senior secondary
- Development of understanding that there can be more than one view on any economic issue and necessary skills to argue logically.
|TERM 2 – SUBJECTIVE QUESTION PAPER
Theory: 40 Marks Time: 2 Hours
|Part A: Introductory Macroeconomics|
|▪ National Income and Related Aggregates||10||23|
|▪ Determination of Income and Employment||12||22|
|Part B: Indian Economic Development|
|▪ Current challenges facing Indian Economy
● Sustainable Economic Development
|▪ Development Experience of India – A Comparison with Neighbours-
● Comparative Development Experience of India and its Neighbours
Part A: Introductory Macroeconomics
Unit 1: National Income and Related Aggregates 23 Periods
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 and Welfare
Unit 3: Determination of Income and Employment 22 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 the – changes in government spending, taxes and money supply through Bank Rate, CRR, SLR, Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.
Part B: Indian Economic Development
Unit 7: Current challenges facing Indian Economy 18 Periods
Employment: Growth and changes in workforce participation rate in formal and informal sectors; problems and policies
Infrastructure: Meaning and Types: Case Studies: Health: Problems and Policies- A critical assessment;
Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming
Unit 8: Development Experience of India: 12 Periods
A comparison with neighbours India and Pakistan
India and China
Issues: economic growth, population, sectoral development and other Human Development Indicators.
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