RBSE Class 12 Economics Syllabus 2023-24: Check Rajasthan Board Class 12 Economics Syllabus

Part A: Introductory Microeconomics- Introduction

National Income Accounting

8

Money and Banking

8

Income and Employment

8

Government Budget

8

Open Economics

8

Part B: Introductory Microeconomics- Introduction

6

Consumer Behaviour

12

Concept of Production and Costs

12

Perfect Competition

Market Equilibrium

10

Total

80

Sessional

20

Grand Total 

100

Unit 1: Macroeconomics

• Chapter 1. Introduction
• Chapter 2. National Income Accounting

Emergence of Macroeconomics, Context of the Present Book of

Macroeconomics, Basic concepts in macroeconomics, Circular flow of income (two sector model);

Methods of calculating National Income - Value Added or Product method, Expenditure method, Income method. Factor cost, basic prices and market prices, macreoeconomic identities, Real and Nominal GDP, GDP and Welfare. 

Unit 2: Money and Banking

• Chapter 3. Money and Banking

Functions of Money, demand for money, supply of money, Money creation by the banking system: Balance Sheet of a Fictional Bank, Limits to Credit Creation and Money Multiplier, policy tools to control money supply

Unit 3: Income and Employment

• Chapter 4. Determination of Income and Employment

Aggregate demand and its components-consumption, investment, determination of Income in two sector model, Determination of equilibrium with price level, fixed effect of an autonomous change in aggregate

Unit 4: Government Budget

• Chapter 5. Government Budget and the Economics

Government budget - meaning, objectives and its components, Objectives of the government budget, Classification of receipts, Classification of expenditure, Balanced, surplus, deficit Budget. Measures of government deficit.

Unit 5: Open Economics

• Chapter 6. Open Economics-Macroeconomics

Balance of payments, current account, capital account, balance of payments surplus and deficit. Foreign exchange market, Foreign exchange rate, Determination of exchange rate, merits and demerits of flexible and fixed exchange rate systems, managed floating.

Unit 1: Introductory Microeconomics

• Chapter 1. Introduction

A Simple Economics, Central Problems of an Economics, Organisation of Economic Activities, The Centrally Planned Economics, The Market Economics, Positive and Normative Economics, Microeconomics and Macroeconomics.

Unit 2: Consumer Behaviour 

• Chapter 2. Theory Of Consumer Behaviour

Utility, Cardinal Utility Analysis, Ordinal Utility Analysis, The Consumer’s Budget, Budget Set and Budget Line, Changes in the Budget Set, Optimal Choice of the Consumer, Demand, Demand Curve, and the Law of Demand, Deriving a Demand Curve from Indifference Curves and Budget Constraints, Normal and Inferior Goods, Substitutes and Complements, Shifts in the Demand Curve, Movements along the Demand Curve and Shifts in the Demand Curve, Market Demand, Elasticity of Demand, Elasticity along a Linear Demand Curve, Factors Determining Price Elasticity of Demand for a Good, Elasticity and Expenditure.

Unit 3: Concepts of Production and Costs

• Chapter 3. Production and Costs

Production Function. The Short Run and the Long Run. Total Product, Average Product and Marginal Product. The Law of Diminishing Marginal Product and the Law of Variable Proportions. Shapes of Total Product, Marginal Product and Average Product Curves. Returns to Scale, Costs, Short Run and Long Run Costs.

Unit 4: Perfect Competition

Market Equilibrium

• Chapter 4: The Theory of the Firm under perfect competition
• Chapter 5: Market Equilibrium
• Chapter 6. Non-competitive markets

Perfect Competition: Defining Features, Revenue, Profit Maximization, The Profit Maximization Problem: Graphical Representation, Supply Curve of a Firm, Short Run Supply Curve of a Firm. Long Run Supply Curve of a Firm, The Shut Down Point, The Normal Profit and Break-even Point, Determinants of a Firm’s Supply Curve,
Technological Progress, Input Prices, Market Supply Curve, Price Elasticity 

Equilibrium, Excess Demand, Excess Supply, Market Equilibrium: Fixed Number of Firms, Market Equilibrium: Free Entry and Exit, Applications, Price Ceiling Price Floor. Simple Monopoly in the Commodity Market, Market Demand Curve is the Average Revenue Curve, Total, Average and Marginal Revenues, Marginal Revenue and Price Elasticity of Demand, Short Run Equilibrium of the Monopoly Firm, Other Non-perfectly Competitive Markets, Monopolistic Competition, Oligopoly