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CBSE Class 12 Commerce Economics Syllabus For 2017 -2018 Schemes

CBSE Class 12 Commerce Economics Syllabus For 2017 -2018 Schemes

CBSE Class 12 Commerce Economics Syllabus : The CBSE envisions a robust, vibrant and holistic school education that will engender excellence in every sphere of human endeavor. The Board is committed to provide quality education to promote intellectual, social and cultural vivacity among its learners. It works towards evolving a learning process and environment, which empowers the future citizens to become global leaders in the emerging knowledge society. The Board advocates Continuous and Comprehensive Evaluation with an emphasis on holistic development of learners. The Board commits itself to providing a stress-free learning environment that will develop competent, confident and enterprising citizens who will promote harmony and peace.

CBSE Class 12 Commerce Economics Syllabus For 2017 -2018 Schemes

CBSE Class 12 Commerce Economics Syllabus : The goal of the Academic, Training, Innovation and Research unit of Central Board of Secondary Education is to achieve academic excellence by conceptualizing policies and their operational planning to ensure balanced academic activities in the schools affiliated to the Board. The Unit strives to provide Scheme of Studies, curriculum, academic guidelines, textual material, support material, enrichment activities and capacity building programmed. The unit functions according to the broader objectives set in the National Curriculum Framework-2005 and in consonance with various policies and acts passed by the Government of India from time to time.

Some major objectives of the Unit are:

i. To define appropriate approaches of academic activities to provide stress free, child centered and holistic education to all children without compromising on quality
ii. To analyse and monitor the quality of academic activities by collecting the feedback from different stakeholders
iii. To develop norms for implementation of various academic activities including quality issues; to control and coordinate the implementation of various academic and training programmes of the Board; to organize academic activities and to supervise other agencies involved in the process
iv. To adapt and innovate methods to achieve academic excellence in conformity with psychological, pedagogical and social principles.
v. To encourage schools to document the progress of students in a teacher and student friendly way
vi. To propose plans to achieve quality benchmarks in school education consistent with the National goals
vii. To organize various capacity building and empowerment programmed to update the professional competency of teachers

Download Here CBSE Class 12 Commerce Economics Syllabus For 2017 -2018 Schemes In PDF Format 

CBSE Class 12 Commerce Economics Syllabus For 2017 -2018 Schemes

CBSE Class 12 Commerce Economics Syllabus : CBSE is a renowned educational board of India and the board has been imparting quality education to students without making any compromise on quality. To assess students’ learning needs, the board arranges research and based on that, it prescribes each syllabus and suitable question papers. To meet its objectives, the board evaluates current demands and according to that, it implements appropriate syllabus that suits students’ merits, as well. CBSE Class 12 Commerce Economics syllabus for class 12 commerce is such a well-structured syllabus that fulfills students’ requirements in terms of knowledge. Class 12 is an important stage of everyone’s life and the final result of class 12 means a lot to students as their further studies depend on this final result. Hence, students should more conscious about their performance of class 12 final exam. The subjects included in the commerce stream of CBSE Class 12 Commerce Economics  are accountancy, business studies, economics, information practices and mathematics.

CBSE Class 12 Commerce Economics Syllabus :

Part A: Introductory Microeconomics

Unit 1: Introduction

Meaning of microeconomics and macroeconomics
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 2: Consumer 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.
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; measurenment of price elasticity of demand – (a) percentage-change method and (b) geometric method (linear demand curve); relationship between price elasticity of demand and total expenditure.

Unit 3: Producer Behaviour and Supply

Production function – Short-Run and Long-Run
Total Product, Average Product and Marginal Product.
Returns to a Factor.
Cost and Revenue: 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 relationship.
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 – (a) percentagechange method and (b) geometric method.

Unit 4: Forms of Market and Price Determination

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.

CBSE Class 12 Commerce Economics Syllabus :

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.
Circular flow of income; 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; National Disposable Income (gross and net), Private Income, Personal Income and Personal Disposable Income; Real and Nominal GDP.
GDP and Welfare

Unit 6: Money and Banking

Money – its 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.
Central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker’s Bank, Controller 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. 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 – change 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

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.

CBSE Class 12 Commerce Economics Syllabus For 2017 -2018 Schemes

CBSE Class 12 Commerce Economics Syllabus : CBSE class 12 Economics Syllabus also contains many projects and activities. These 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.

CBSE Class 12 Commerce Economics Syllabus :

OBJECTIVES

(1) DEVELOPMENT

  •    Of Understanding some basic economic concepts.
  •    Of Economic reasoning which the learners can apply in their day-to-day life as citizens, workers and consumers.
  •    Of understanding that there can be more than one view on any economic issue

(2) PROVIDING

  •    With necessary skills to argue logically with reasoning.
  •    With basic tools of economics and statistics to analyse economic issues.

(3) MAKING STUDENTS REALISE

  •    Their role in nation building and sensitivity to the economic issues that the nation is facing today.

CBSE Class 12 Commerce Economics Syllabus :

Detailed Syllabus (Click on the link for Study Materials)

CHAPTERTOPICSUB TOPICS
Unit 1: IntroductionEconomy-Meaning
Economics, Meaning, Types, Scope & Subject matter.Microeconomics and Macroeconomics.
Part A: Introductory MicroeconomicsEconomic Problem – Meaning, Causes, Extent
Central problems of an economyWhat to Produce? How to Produce? For Whom to Produce? Causes of Central Problems
How Central Problems are solved in Socialist Economies/Capitalist Economies & Mixed Economies?
Production Possibility Curve (PPC or PPF)Concept of PPC
Concept of Opportuinty Cost and Marginal Opportunity Cost
General Shape of PPC with their Reasons, Shift of PPC, Movement along PPC,Movement towards the PPC, Rotation of PPC due to changes related to only one product
Shape of PPC in Exceptional Conditions with their Reasons
Effect of Different Natioanl Policies, International Events and Natural Conditions over PPC
Unit 2: Consumer’s Equilibrium and Demand
UtilityConcept of Utility, Marginal Utility and Total Utility
Relationship between MU and TU
Law of Diminishing Marginal Utility using Utility Schedule and Utility Curve; Assumptions
Consumer’s Equilibrium – Utility ApproachMeaning of Consumer’s Equilibrium , Assumptions of Law, Conditions of Equilibrium using Hypothetical Schedule or a diagram
Consumer’s Equilibrium – Indifference Curve ApproachConcept of Budget Line & Budget Set
Concept & Features of Indifference Curve and Indifference Map, Concept of Monotonic Preferences and Convex Preferences
Conditions of Consumer’s Equilibrium using a diagram or a hypothetical schedule
DemandConcept of Desire, Want and Demand
Meaning of Individual Demand, Market Demand and Industry Demand
Determinants i.e. Factors Affecting Demand and Market Demand
Demand Schedule and Demand Curve
Law of Demand with the help of a hypothetical demand schedule and a demand curve
Concept of Movement along the demand curve and Shift in demand curve
Price Elasticity of DemandConcept of Price Elasticity of Demand
Degrees/Kinds/Types of Price Elasticity
Methods of Measurement of Price Elasticity of Demand – Proportionate Method, Total Expenditure Method and Geometric Method
Determinants i.e. Factors Affectig Price Elasticity of Demand
Unit 3 Producer Behaviour and Supply
ProductionProduction function – Short-Run and Long-RunConcept of Production Short Run and Long Run Function, Meaning of Short Run and Long Run, Meaning of Fixed Factors and Variable Factors
Meaning & Relationship of Total Product, Average Product and Marginal Product.
Returns to a FactorLaw of Variable Proportions – using hypothetical schedule
Law of Variable Proportions – using MP Curve or TP Curve or both
Relationship between MP & AP
CostMeaning of Cost in Economics
Different Types of CostsConcept of FC, VC and TC
Revenue – total, average and marginal revenue – meaning and their relationships.Meaning and Relationship of ATC, AFC, AVC and MC using a hypothetical schedule
Relationship of different types of costs with the help of diagrams
RevenueConcept of RevenueConcept of TR, AR and MR
Relationship between AR & MR in different Markret forms and their General Relationship
Relationship between TR & MR in different Markret forms
Producer’s EquilibriumProducer’s equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost.Producer’s Equilibrium in case of Perfect Competition – Using a hypothetical schedule & a diagram
Producer’s Equilibrium in case of Imperfect Competition – Using a hypothetical schedule & a diagram
Supply & Price Elassticity of SupplySupplyMeaning of Supply & Market Supply
Determinants i.e. Factors Affecting Supply and Market Supply
Supply Schedule and Supply Curve
Law of Supply with the help of a hypothetical supply schedule and a supply curve
Concept of Movement along the supply curve and Shift in supply curve
Price Elasticity of SupplyConcept of Price Elasticity of Supply
Degrees/Kinds/Types of Price Elasticity of Supply
Methods of Measurement of Price Elasticity of Supply – Proportionate Method and Geometric Method
Unit 4: Forms of Market and Price Determination under Perfect Competition with simple applications.
Perfect CompetitionMeaning & Features
Price Determination in Perfect Competition
Effect of Shift in Demand or Supply over Equilibrium Price
Effect of Simultaneous shift in both Demand & Supply Curve over Equilibrium Price
Effect of Various International changes, National or State Governent Policies or Natural Calamities over Equilibrium Price.
MonopolyMeaning & Features
Sources of Monopoly
Monopolistic CompetitionMeaning & Features
Features which are common with Monopoly and Perfect Competition
OligopolyMeaning & Features
Simple Applications of Demand and Supply: Government Intervention – Price Ceiling, Price Floor.
Unit 5: National Income and Related Aggregates
Micro Economics and Macro Economics – Meaning, Scope, Interdependence and Difference
Basic ConceptsConsumer Goods & Producer Goods
Final Goods and Intermediate Goods
Stock & Flow; CoE,
Depreciation and Capital Loss
Gross and Net
Market Price & Factor Cost
Circular Flow of Income-Concept
Concept of Domestic Income & National Income – Meaning & Difference
Relationship between various aggregates related of National IncomeGNP, NNP, GDP, NDP
Methods of calculating National Income – Steps, Precautions and ComputationValue Added Method
Income Method
Expenditure Method
National and Private AggregatesNational Disposable Income (Gross and Net )
Private Income, Personal Income and Personal Disposable Income
Real and Nominal GDP – Meaning and Computation
GDP and Welfare
Externalities – Positive & Negative
Unit 6: Money and Banking
Barter SystemMeaning of Barter
Drawback of Barter
MoneyDefinition of Money
Money Supply – Narrow & Broader definition
Functions of Money (How Money helps in overcoming the drawbacks of barter?)
Money creation by the commercial banking system
Commercial Bank & Central Bank – Meaning & Difference
Credit Creation function of Commercial Banks
Functions of Central BankBankers’ Bank, Note issue, Banker to the Governent, Custodian of FERs, Credit Controlling
Quantitative Measure of Credit Control – Bank Rate, CRR, SLR, Repo & Reverse Repo Rate, Open Market Operations
Qualitative Measures of Creidit Control – Margin Requirement, Moral Suasion
Unit 7: Determination of Income and Employment
Aggregate Demand & Aggregate Supply – Meaning & ComponentsConsumption Funtion, Autonomous Consumption, Propensity to Consume, APC, MPC
Saving Function, Propensity to Save, APS, MPS
Relationship between MPC and MPS , Relation between APC and APS
Induced Investments, Autonomous Investments
Derivation of Saving Curve from Consumption and Consumption Curve from Saving Curve
Investment MultiplierMeaning of Investment Multiplier
Working of Investment Multiplier
Relationship between Investment Multiplier and APC/MPC/APS/MPS
Equilibrium Level of Income/outputDetermination of Equilibrium Level of Income/Output using a hypothetical schedule (C-I Approach & S-I Approach)
Determination of Equilibrium Level of Income/Output using a diagram (C-I Approach & S-I Approach)
Determination of Equilibrium Level of Income/Output using and Algebraic Equation
Meaning of full employment and involuntary unemployment.
Under-employment Equilibrium
Inflationary Gap & Deflationarey GapMeaning, Difference, Effects over Output, Employment, Income and Prices
Remedial Measures – Fiscal Policy Measures and Monetary Policy Measures
Effect of Government Policies or International Events over our National Income
Unit 8: Government Budget and the Economy
Government Budget – Meaning, Objectives and Components.
Classification of Receipts – Revenue Receipts and Capital ReceiptsCriteria to classify and examples
Classification of Expenditure – Revenue Expenditure and Capital Expenditure.Criteria to classify and examples
Measures of Budget – Meaning and Computation (Numerical)Balanced Budget; Unbalanced Budget; Surplus Budget; Deficit Budget; Revenue Budget; Fiscal Deficit; and Primary Deficit
Choice of Specific Type of Budget in case of Inflationary and Deflationary Gap situation
Unit 9: Balance of Payments
Balance of Payments Account – Meaning
Components of Balance of PaymentBalance of Capital Account and Balance of Current Account
Autonomous and Accommodating Items
Balance of Current AccountBalance of Current Account – Meaning & Components
Balance of Trade – Meaning & Components
Balance of Invisibles – Meaning & Components
Difference Balance of Payment and Balance of Trade
Balance of Capital AccountMeaning & Components-Foreign Investments, Loans, Deposits by NRI
Foreign Investment – Foreign Direct Investments and Foreign Institutional Investment
Deficit in Balance of Payments – Meaning, Causes and Measures to Correct Deficit in BoP
Foreign Exchange RateMeaning of Fixed and Flexible Rates and Managed Floating Exchange Rate
Foreign Exchange Market
Fixed and Floating Exchange Rate SystemMeaning and difference between Appreciation and Revaluation; Depreciation & Devaluation
Demand and Supply of Foreign ExchangeSources of Demand and Sources of Supply
Relationship between FER and Demand for FE and Supply of FE
Determination of exchange rate in a free market
Effect of Change in Foreign Exchange Rate over Imports/Exports/Demand or Supply of Foreign Exchange
Numerical

CBSE Class 12 Commerce Economics Syllabus For 2017 -2018 Schemes

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