CBSE Class 12 Economics Syllabus 2022-23

CBSE Class 12 Economics Syllabus 2022-23 includes both the books prescribed by CBSE, New Delhi. You can download the Economics class 12 syllabus 2022-23 from CBSE official website or myCBSEguide app as a PDF. The myCBSEguide app not only provides you with the CBSE class 12 Economics model question papers but also provides class 12 Economics chapter-wise test papers, class 12 Economics best revision notes and other study material for class 12 Economics students.

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Class 12 Economics Syllabus 2022-23

Here is the detailed syllabus. To download class 12 Economics CBSE’s latest sample question papers for the 2023 exams, please install the myCBSEguide App which is the best mobile app for CBSE students.

CBSE Class – 12 Economics (Code No. 030)
Syllabus (2022-23)

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The class 12th Economics exam has two parts. These are

1. Theory: 80 Marks (3 Hours)
2. Project: 20 Marks

The complete course content of class 12 Economics is divided into two books. These two books are

1. Introductory Macroeconomics
2. Indian Economic Development

Let us discuss marks distribution and class 12 economics chapter-wise weightage 2023 in detail.

Introductory Macroeconomics

Units		Marks	Periods
Part A	Introductory Macroeconomics
Unit 1	National Income and Related Aggregates	10	30
Unit 2	Money and Banking	06	15
Unit 3	Determination of Income and Employment	12	30
Unit 4	Government Budget and the Economy	06	17
Unit 5	Balance of Payments	06	18
	Total Marks	40

Introductory Macroeconomics has five units. Here Unit 3 Determination of Income and Employment carried a maximum of 12 marks and the first unit on National Income and Related Aggregates carries 10 marks. All other units comprise 6 marks each.

Class 12 Introductory Macroeconomic syllabus 2022-23 clearly mentioned that the overall weightage of marks for this book is 40 marks. It means exactly 50% of questions will come from this book in the class 12 Economics question paper.

Indian Economic Development

It is the second book in class 12th Economics. Earlier CBSE had prescribed the book “Indian Economic Development” in class 11th. But for the past few years, this is being taught in class 12th.

CBSE class 12 Indian Economic Development syllabus 2022-23 will carry exactly 50% weightage. If you have a look at the Economics class 12 syllabus 2022-23, you will conclude that both books have equal weightage. As you know Macroeconomics is having many numerical questions and technical definitions, Indian Economy is much easier. It is mostly theoretical and you can score good marks with less effort.

Part B	Indian Economic Development
Unit 6	Development Experience (1947-90) and Economic Reforms since 1991	12	28
Unit 7	Current Challenges facing Indian Economy	20	50
Unit 8	Development Experience of India – A Comparison with Neighbours	08	12
	Theory Paper (40+40 = 80 Marks)	40	200
Part C	Project Work	20	20

Introductory Macroeconomics Syllabus 2022-23

Now let us discuss the syllabus of Macroeconomics in detail.

Unit 1: National Income and Related Aggregates (30 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 2: Money and Banking (15 Periods)

• Money – meaning and functions, 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 (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.

Unit 3: Determination of Income and Employment (30 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 them – changes in government spending, taxes and money supply.

Unit 4: Government Budget and the Economy (17 Periods)

• Government budget – meaning, objectives and components.
• Classification of receipts – revenue receipts and capital receipts;
• Classification of expenditure – revenue expenditure and capital expenditure.
• Balanced, Surplus and Deficit Budget – measures of government deficit.

Unit 5: Balance of Payments (18 Periods)

• Balance of payments account – meaning and components;
• Balance of payments – Surplus and Deficit
• Foreign exchange rate – meaning of fixed and flexible rates and managed floating.
• Determination of exchange rate in a free market, Merits and demerits of flexible and fixed exchange rate.
• Managed Floating exchange rate system

Part B: Indian Economic Development Syllabus 2022-23

The syllabus of class 12th Indian Economy 2022 – 2023 has only three units. Here is the revised and reduced syllabus of class 12 Economics for the session 2022-23.

Unit 6: Development Experience (1947-90)

• A brief introduction of the state of Indian economy on the eve of independence.
• Indian economic system and common goals of Five Year Plans.
• Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy), industry (IPR 1956; SSI – role & importance) and foreign trade.

Economic Reforms since 1991

• Features and appraisals of liberalisation, globalisation and privatisation (LPG policy)
• Concepts of demonetization and GST

Unit 7: Current challenges facing Indian Economy (60 Periods)

• Human Capital Formation: How people become resource; Role of human capital in economic development; Growth of Education Sector in India
• Rural development: Key issues – credit and marketing – role of cooperatives; agricultural diversification; alternative farming – organic farming
• Employment: Growth and changes in work force participation rate in formal and informal sectors; problems and policies
• 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

Part C: Project in Economics (20 Periods)

Here are the class 12 economics project topics for 2022-23. You can pick topics for your Economics project from the list appended below. This project is very important and it is part of the internal assessment. You will get marks for your class 12 economics project work.

List of Topics for Projects in class 12 Economics 2022-23

• Micro and Small Scale Industries
• The contemporary Employment situation in India
• Goods and Services Tax Act and its Impact on GDP
• Human Development Index
• Self-help group
• Monetary policy committee and its functions
• Government Budget & its Components
• Exchange Rate determination – Methods and Techniques
• Livestock – Backbone of Rural India
• Sarwa Siksha Abhiyan – Cost Ratio Benefits
• Minimum Support Prices
• Waste Management in India – Need of the hour
• Digital India- Step towards the future
• Vertical Farming – an alternate way
• Make in India – The way ahead
• Rise of Concrete Jungle- Trend Analysis
• Any other newspaper article and its evaluation on basis of economic principles
• Food Supply Channel in India
• Disinvestment policy of the government
• Health Expenditure (of any state)
• Inclusive Growth Strategy
• Trends in Credit availability in India
• Role of RBI in Control of Credit
• Trends in budgetary condition of India
• Currency War – reasons and repercussions
• Alternate fuel – types and importance
• Golden Quadrilateral- Cost ratio benefit
• Relation between Stock Price Index and Economics Health of Nation
• Minimum Wage Rate – approach and Application
• Rain Water Harvesting – a solution to water crises
• Silk Route- Revival of the past
• Bumper Production- Boon or Bane for the farmer
• Organic Farming – Back to Nature

Class 12 Economics Prescribed Books

Here is the list of books prescribed by CBSE for class 12 Economics.

1. Indian Economic Development, NCERT
2. Macroeconomics, NCERT
3. Supplementary Reading Material in Economics, CBSE

Note: The above publications are also available in Hindi Medium.

Class 12 Economics Question Paper Design 2022 – 2023

SN	Typology of Questions	Marks	Percentage
1	Remembering and Understanding: Exhibit memory of previously learned material by recalling facts, terms, basic concepts, and answers. Demonstrate understanding of facts and ideas by organizing, comparing, translating, interpreting, giving descriptions, and stating main ideas	44	55%
2	Applying: Solve problems to new situations by applying acquired knowledge, facts, techniques and rules in a different way.	18	22.5%
3	Analysing, Evaluating and Creating: Examine and break information into parts by identifying motives or causes. Make inferences and find evidence to support generalizations. Present and defend opinions by making judgments about information, validity of ideas, or quality of work based on a set of criteria. Compile information together in a different way by combining elements in a new pattern or proposing alternative solutions.	18	22.5%
	Total	80	100%

Guidelines for Project Work in Economics

The objectives of the project work are to enable learners to:

• probe deeper into theoretical concepts learnt in classes and XII
• analyse and evaluate real world economic scenarios using theoretical constructs and arguments
• demonstrate the learning of economic theory
• follow up aspects of economics in which learners have interest
• develop the communication skills to argue logically

The expectations of the project work are that:

• learners will complete only ONE project in each academic session
• project should be of 3,500-4,000 words (excluding diagrams & graphs), preferably hand-written
• it will be an independent, self-directed piece of study

Role of the teacher in Project Work

The teacher plays a critical role in developing thinking skills of the learners. A teacher should:

• help each learner select the topic based on recently published extracts from the news media, government policies, RBI bulletin, NITI Aayog reports, IMF/World Bank reports etc., after detailed discussions and deliberations of the topic
• play the role of a facilitator and supervisor to monitor the project work of the learner through periodic discussions
• guide the research work in terms of sources for the relevant data
• educate learner about plagiarism and the importance of quoting the source of the information to ensure authenticity of research work
• prepare the learner for the presentation of the project work
• arrange a presentation of the project file

Scope of class 12 Economics Project

Learners may work upon the following lines as a suggested flow chart:

Checklist for Class 12 Economics Project 2022-23

• Introduction of topic/title
• Identifying the causes, consequences and/or remedies
• Various stakeholders and effect on each of them
• Advantages and disadvantages of situations or issues identified
• Short-term and long-term implications of economic strategies suggested in the course of research
• Validity, reliability, appropriateness and relevance of data used for research work and for presentation in the project file
• Presentation and writing that is succinct and coherent in project file
• Citation of the materials referred to, in the file in footnotes, resources section, bibliography etc. 

Mode of presentation/submission of the Project

At the end of the stipulated term, each learner will present the research work in the Project File to the External and Internal examiner. The questions should be asked from the Research Work/ Project File of the learner. The Internal Examiner should ensure that the study submitted by the learner is his/her own original work. In case of any doubt, authenticity should be checked and verified.

Class 12 Economics Internal Assessment Marking Scheme

Marks are suggested to be given as –

S. No.	Heading	Marks Allotted
1.	Relevance of the topic	3
2.	Knowledge Content/Research Work	6
3.	Presentation Technique	3
4.	Viva-voce	8
	Total	20 Marks

Class 12 Economics Study Material 2022-23

Students can download study material for class 12 Economics from myCBSEguide App and our Student Dashboard. We have Economics sample question papers, notes, chapter tests, videos, NCERT solutions, important questions and the previous year’s question bank.

You can access them all on the Class 12 Economics course page. Here, you will get the latest model question papers as per the deleted syllabus of classes 12th Economics for the session 2022-23.