(Updated) Term Wise 12th Economics Syllabus 2021-22 CBSE Board

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Economics is the very important subject of Commerce Stream Class 12 CBSE Board. In order to score good marks in board exams, we need to prepare, keeping in mind the syllabus and weightage marks of each chapter.

I am sharing the Term Wise revised class 12th Economics syllabus for the 2021-22 session of the CBSE Board.

As the new session has already begun. In July, CBSE Board announced that the board examination would be conducted in two terms.

Ist Term examination would be held in November -December. The second term would be conducted in March April.

On 24th July, today CBSE has released the revised syllabus of Economics. We are going to discuss everything in detail.

1st Term examination consists of MCQs Type of 90 Minutes time.

2nd Term examination is a comprehensive one of 1.5 hr.

Let’s discuss all facts regarding the revised term-wise accountancy syllabus in detail.

Is there any change in syllabus of Economics class 12 CBSE 2021-22?

For the 2021-22 session, as such, there is a reduction of 30% in the syllabus. I will discuss it at the end of this article.

Revised Term Wise syllabus of Economics class 12 CBSE 2021-22?

Let’s first have a glimpse over the complete syllabus of Economics class 12 for the 2021-22 session of the CBSE Board.

I have made a complete review of the syllabus in video format. However, if you want to read it in text format go ahead and skip it.

1st Term revised syllabus of Economics for 2021-22 CBSE Board

Theory: 40 Marks
Project: 10 Marks

Duration:- 90 Minutes

Read Here:- Macroeconomics free video lecture, notes, pdf

Read Here:- Macroeconomics MCQs and Free Live Test

UnitsMCQs based question PaperMarks
Part – AIntroductory Macroeconomics

● Money and Banking
● Government Budget and the Economy
● Balance of Payments


6
6
6
Sub Total18
Part – BIndian Economic Development

Development Experience (1947-90) and Economic Reforms since 1991:
● Indian Economy on the Eve of Independence
● Indian Economy (1950-90)
● Liberalization, Privatisation, and Globalisation: An Appraisal
12
Current challenges facing Indian Economy
● Poverty
● Human Capital Formation
● Rural development
10


Sub Total22
Total40
Project Work (Part 1): 10 Marks

Note:- Students would prepare only ONE project in the entire academic session, which is divided into 2 terms i.e. Term I and Term II.

Read Here:- Class 12th Accountancy syllabus of CBSE Board for 2021-22 Session

Read Here:- Deleted syllabus of Accountancy class 12 CBSE 2021-22 (comparison with previous year syllabus with screenshots)

Read Here:- Important MCQs of Money and Banking chapter

Chapter wise Term – 1 Syllabus of Economics class 12 CBSE Board 2021-22

Term – 1

Part A: Introductory Macroeconomics

Unit 2: Money and Banking 15 Periods

  • 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.
  • The central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker’s Bank, control of credit.

Unit 4: 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 5: Balance of Payments

  • Balance of payments account – meaning and components;
  • Foreign exchange rate – meaning of fixed and flexible rates and managed floating.

Part B: Indian Economic Development

Unit 6: 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.

Economic Reforms since 1991:

  • Features and appraisals of liberalization, globalization, and privatization (LPG policy); Concepts of demonetization and GST.

Unit 7: Current challenges facing Indian Economy 60 Periods

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

Read Here:- Term-wise syllabus of BST class 12 CBSE 2021-22

Read Here:- Deleted Syllabus of BST class 12 CBSE 2021-22 (comparison with previous year syllabus with screenshots)

Read Here:- Important MCQs of Government Budget and the Economy Chapter Class 12

2nd Term syllabus of Economics for 2021-22 CBSE Board

Units Subjective Question Paper Marks
Part – AIntroductory Macroeconomics
▪ National Income and Related Aggregates
▪ Determination of Income and Employment

10
12
Sub Total22
Part – BPart B: Indian Economic Development

Current challenges facing Indian Economy
● Employment
● Infrastructure
● Sustainable Economic Development

Development Experience of India – A Comparison with Neighbours-
● Comparative Development Experience of India and its Neighbours


12




06
Sub Total 18
Total40
Project Work: 10 Marks

Term – II
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 them – 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 work force participation rate in formal and informalsectors; problems and policies
  • Infrastructure: Meaning and Types: Case Studies: Health: Problems and Policies- A criticalassessment;
  • Sustainable Economic Development: Meaning, Effects of Economic Development onResources 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 15 Periods

Deleted Syllabus of Economics class 12th 2021-22 CBSE Board

ChapterDeleted Syllabus
Money and Banking No Deduction
Balance of Payments1. Foreign Exchange Rate:- Determination of exchange rate in a free market.
2. Balance of Payments:- Balance of payments deficit meaning.
National Income and Related Aggregates GDP Deflator
Determination of Income and Employment No Deduction
Current challenges facing Indian Economy Human Capital Formation:- Growth of Education Sector in India.
Rural development:- alternative farming – organic farming.
Infrastructure:-
Case Studies on Energy: Problems and Policies-A critical assessment

For understanding Term – wise and chapter wise complete analysis of the deleted topic and which chapter would be covered fully. Read the below post.

Further Reading:-

Read Here:- Term Wise deleted syllabus of Economics class 12 CBSE Board 2021-22 (comparison with previous year syllabus with screenshots)

Read Here:- Important MCQs of Foreign Exchange Rate chapter class 12

Read Here:- Important MCQs of Balance of Payments chapter of Class 12

Q. Is there any changes in the CBSE class 12 Economics Syllabus for 2021-22?

Ans:- Yes, the central board has just announced on the 5th of July. The board syllabus has been reduced by 30%.

Q. How many units are there in the new syllabus of economics class 12 CBSE 2021-22?

Ans:- The syllabus of Economics of class 12 for 2021-22 has been divided in two terms. 1st term syllabus consists of 5 units (3 units from macroeconomics and 2 units of Indian Economics Development). Term 2nd consists of 4 units (2 units from macroeconomics and 2 units from Indian Economic Development)

Q. What are the essential topics that need to be prepared under the CBSE class 12 Economics syllabus?

Ans:- National income and related aggregates, money, and banking, government budget and the economy, current challenges facing the Indian economy are essential topics that need to be prepared under the CBSE class 12 Economics Syllabus.

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Anurag Pathak
Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.
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