12th Standard CBSE Introductory Micro and Macroeconomics Subjects Question Paper Software Subscription

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12th Standard CBSE Introductory Micro and Macroeconomics Chapters / Lessons

Economics, Economy and Its Central Problems

Consumer's Equilibrium and Demand

Demand and Price Elasticity of Demand

Producer Behaviour and Supply

Supply and Price Elasticity of Supply

Forms of Market and Price Determination

Macroeconomics and Circular Flow of Income

National Income and Its Measurement

Money and Banking

Determination of Income and Employment

Government Budget

Foreign Exchange Rate and Balance of Payments

Indian Economy on the Eve of Independence

Indian Economy and Changes in Different Sectors [1950-1990]

Liberalisation, Privatisation and Globalisation

Poverty

Human Capital Formation in India

Rural Development in India

Employment and Unemployment in India

Infrastructure in India

Environment and Sustainable Development

Comparative Development Experience of India and its Neighbours

12th Standard CBSE Introductory Micro and Macroeconomics Chapters / Lessons Syllabus

Introduction

Part A: Introductory Microeconomics
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.

Consumer's Equilibrium and Demand

Consumer's equilibrium - meaning of utility, marginal utility, law of diminishing marginal utility, conditions of consumer's equilibrium using marginal utility analysis - In difference 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.

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 supply curve, price elasticity of supply; measurement of price elasticity of supply - percentage-change method.

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.

National Income and Related Aggregates

Part B: Introductory Macroeconomics
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.

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 - 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.

Determination of Income and Employment

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.

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.

Balance of Payments

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.

Indian Economy on the Eve of Independence

Introduction - Low Level Of Economic Development Under The Colonial Rule - Agricultural Sector - Industrial Sector - Foreign Trade - Demographic Condition - Occupational Structure - Infrastructure - Conclusion

Indian Economy and Changes in Different Sectors [1950-1990]

Introduction - The Goals Of Five Year Plans - Agriculture - Industry And Trade - Trade Policy: Import Substitution - Conclusion

Liberalisation, Privatisation and Globalisation

Introduction - Background - Liberalisation - Privatisation - Globalisation - Indian Economy During Reforms: An Assessment - Conclusion

Poverty

Introduction - Who Are The Poor? - How Are Poor People Identified? - The Number Of Poor In India - What Causes Poverty? - Policies And Programmes Towards Poverty Alleviation - Poverty Alleviation Programmes - A Critical Assessment - Conclusion

Human Capital Formation in India

Introduction - What Is Human Capital? - Sources Of Human Capital - Human Capital And Human Development - State Of Human Capital Formation In India - Education Sector In India - Future Prospects - Conclusion

Rural Development in India

Introduction - What Is Rural Development? - Credit And Marketing In Rural Areas - Agricultural Market System - Diversification Into Productive Activities - Sustainable Development And Organic Farming - Conclusion

Employment and Unemployment in India

Introduction - Workers And Employment - Participation Of People In Employment - Self-employed And Hired Workers - Employment In Firms, Factories And Offices - Growth And Changing Structure Of Employment - Informalisation Of Indian Workforce - Unemployment - Government And Employment Generation - Conclusion

Infrastructure in India

Introduction - What Is Infrastructure? - Relevance Of Infrastructure - The State Of Infrastructure In India - Energy - Health - Conclusion

Environment and Sustainable Development

Introduction - Environment - Definition And Functions - State Of India’s Environment - Sustainable Development - Strategies For Sustainable Development - Conclusion

Comparative Development Experience of India and its Neighbours

Introduction - Developmental Path - A Snapshot View - Demographic Indicators - Gross Domestic Product And Sectors - Indicators Of Human Development - Development Strategies - An Appraisal - Conclusion