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MP Board Class 12 Economics Syllabus covers a wide range of concepts and in-depth knowledge on the subject. The two parts of the MP Board 12th Economics syllabus 2023–24 are Microeconomics and Macroeconomics. An advanced version of the principles mentioned in class 11 economics syllabus are covered in class 12 economics. There are a total of 10 units in the syllabus that focuses on how organizations, households, society, and people decide when, where, and how to use their natural resources most effectively. It is a study that deals with many abstract and ideal blueprints to study the action and foretell how institutions will adapt to given changes in fiscal policies and market conditions, among other factors in Economics.
To check the MP Board Class 12 Economics syllabus 2023-24 in detail, students can go through the complete article and also download the syllabus PDF from the link attached.
Also Read: MPBSE 10th Syllabus 2023-24 for all Subjects
MP Board 12th Important Links |
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MP Class 12 Economics Syllabus 2023-24 - Download PDF
The MP Class 12 Economics curriculum is comprehensive and demanding. It includes a significant practical component that enables students to use their theoretical knowledge in actual situations. It covers a wide range of topics, from the fundamentals to the advanced. Check here MP Class 12 Economics syllabus 2023-24 PDFMP Board 12th Syllabus for Economics 2023-24
Students can go through the syllabus below.Part Name | Unit Name |
|---|---|
Introductory Microeconomics | Introduction |
Consumer Behaviour and Demand | |
Producer Behaviour and Supply | |
Forms of Markets and Price Determination | |
Simple Applications of Tools for Demand and Supply Curves | |
Introductory Macroeconomics | National Income and Related Aggregates — Basic Concepts and Measurements |
Determination of Income and Employment | |
Money and Banking | |
Government Budget and the Economy | |
Balance of Payments |
Also Read: MPBSE 10th Exam Pattern 2023-24
MP Board 12th Economics Syllabus 2023-24 - Unit Wise
Part A: Introductory Macroeconomics
Unit 1: National Income and Related Aggregates- What is Macroeconomics? Basic macroeconomic concepts include stocks and flows, gross investment, depreciation, consumer goods, capital goods, final goods, and intermediate goods. income circulation (two sector model); The value added or product approach, the expenditure method, and the income method are all ways to calculate national income. Gross National Product (GNP), Net National Product (NNP), Gross Domestic Product (GDP), and Net Domestic Product (NDP), all at market price and factor cost, are aggregates connected to national income; GDP, both real and nominal GDP, GDP growth, and welfare.
- Currency held by the general population and net demand deposits held by commercial banks make up the supply of money.
- The commercial banking system creates money.
- Central bank and its duties (the Reserve Bank of India as an example): Bank of Issue, Government Bank, Banker's Bank, Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), Repo Rate and Reverse Repo Rate, Open Market Operations, Margin Requirement, Control of Credit through Bank Rate.
- Aggregate demand and its components.
- Average and marginal propensities for consumption and saving.
- Output at short-term equilibrium; mechanism of investment multiplier.
- Meanings of voluntary unemployment and full employment.
- Excess and insufficient demand issues, and solutions like adjustments to government expenditure, taxation, and the money supply.
- 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.
- Meaning and components of the balance of payments account;
- Payments balance: Surplus and Deficit
- Foreign exchange rate definition includes managed floating, flexible rates, and fixed rates.
- Exchange rate determination in a free market, Benefits and drawbacks of fixed and variable exchange rates.
- Managed System of floating exchange rates
Part B: Indian Economic Development
Unit 6: Development Experience (1947-90) and Economic Reforms since 1991- A brief summary of the situation of the Indian economy before independence. Indian economic structure and the Five Year Plans' similar objectives.
- Primary characteristics, issues, and strategies related to industry (IPR 1956; SSI - role and relevance), agriculture (institutional aspects, new agricultural strategy), and international commerce.
- Economic Reforms Since 1991: Concepts of Demonetization and GST; Features and Evaluations of Liberalization, Globalization, and Privatization (LPG Policy).
- The process by which individuals become resources; the importance of human capital for economic growth; India's Education Sector is Growing.
- Key issues in rural development - marketing and credit - the function of cooperatives - alternative farming - organic farming
- Employment: Development and shifts in the rate of labor force participation in the formal and unofficial sectors; issues and policies
- What is sustainable economic development? How does it affect the environment and resources, particularly global warming?
- A comparison with neighbours
- India and Pakistan
- India and China
- Issues: economic growth, population, sectoral development and other Human Development Indicators.
Students are also advised to check MPBSE 10th Previous Year Question Paper along with syllabus in order to prepare for the final exam.
