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    ECONOMICS/BUSINESS ECONOMICS-309

    ECONOMICS/BUSINESS
    ECONOMICS-309

    Syllabus for Class 12

    1
    ECONOMICS/BUSINESS ECONOMICS-309
    Note:
    There will be one Question Paper which will have 50 questions out of which 40 questions need to be
    attempted.

    Unit I: Introduction to Microeconomics


    • What is microeconomics?
    • Central problems

    Unit II: Consumer Behaviour and Demand


    • Consumer’s Equilibrium: meaning and attainment of equilibrium through Utility Approach: One and two
    commodity cases.
    • Demand: market demand, determinants of demand, demand schedule, demand curve, movement
    along and shifts in the demand curve, price elasticity of demand, measurement ofprice elasticity of
    demand – percentage, total expenditure, and geometric methods

    Introductory Macroeconomics
    Unit III: National Income and Related Aggregates — Basic Concepts and Measurement
    • Macroeconomics: meaning.
    • Circular flow of income, concepts of GDP, GNP, NDP, NNP (at market price and factor cost).
    • Measurement of National Income –Value Added method, Income method, and Expenditure
    method.

    Unit IV: Determination of Income and Employment


    • Aggregate demand, aggregate supply, and their components
    • Propensity to consume and propensity to save (average and marginal)
    • Meaning of involuntary unemployment and full employment
    • Determination of income and employment: two-sector model
    • Concept of investment multiplier and its working
    • Problems of excess and deficient demand
    • Measures to correct excess and deficient demand – availability of credit, change in
    government spending

    Unit V: Money and Banking


    • Money: meaning, evolution, and functions
    • Central bank: meaning and functions
    • Commercial banks: meaning and functions

    Unit VI: Government Budget and the Economy


    • Government budget – meaning and its components
    • Objectives of government budget
    • Classification of receipts – revenue and capital; classification of expenditure – revenue and
    capital, plan and non-plan, and developmental and non-developmental
    • Balanced budget, surplus budget, and deficit budget: meaning and implications
    • Revenue deficit, fiscal deficit, and primary deficit: meaning and implications; measures to
    contain different deficits.
    ECONOMICS/BUSINESS ECONOMICS-309

    Unit VII: Balance of Payments


    • Foreign exchange rate – meaning (fixed and flexible), merits and demerits; determination
    through demand and supply
    • Balance of payments accounts – meaning and components
    • A brief analysis of recent exchange rate issues

    INDIAN ECONOMIC DEVELOPMENT

    Unit VIII: Development Experience (1947-90) and Economic Reforms since 1991
    A brief introduction of the state of the 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.

    Unit I X: Current challenges facing the Indian Economy


    Poverty – absolute and relative; Main programmes for poverty alleviation: A critical
    assessment;
    Human Capital Formation – How many people become resource; Role of human capital
    in economic development;
    Rural development: Key issues – credit and marketing – role of cooperatives; agricultural
    diversification;

    Employment: Growth and changes in work force participation rate in formal and informal
    sectors; problems and policies

    Infrastructure: Meaning and Types: Cases Studies: Health: Problems and


    Policies – A critical assessment;

    Sustainable Economic Development: Meaning, Effects of Economic Development on


    Resources and Environment, including global warming

    Unit X: Development Experience of India


     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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