Get Here free PDF download of CBSE Class 12 Economics revision notes and short key-notes to score more marks in your exams. These Notes of Class 12 Macroeconomics and Indian Economic Development make the complicated problems look easy as they are broken into simple steps with a lucid explanation of each step. Handwritten Notes of Economics for Class 12 are important to enable students to have a quick recap of the entire syllabus in no time. One can easily revise the precise notes in a day or two. This helps one to recall all he/she has read and learned for the entire year. Once they get the hint, the students are quick to recall the entire material. Study Key Notes or Revision notes helps students in quick revision to recall all that has been learned throughout the year. Notes make this process of recall easy.
|Class 12 Economics Marks Distribution|
|Part A : Introductory Macroeconomics|
|National Income and Related Aggregates||10|
|Money and Banking||6|
|Determination of Income and Employment||6|
|Government Budget and the Economy||6|
|Balance of Payments||6|
|Part B : Indian Economic Development|
|Development Experience (1947-90) and Economic Reforms since 1991||12|
|Current Challenges facing Indian Economy||22|
|Development Experience of India –A Comparison with Neighbours||6|
|Theory Paper (40+40 = 80 Marks)||40|
|Type of Question||Marks per Question||Total No. of Questions||Total Marks|
|Objective Type Questions||1||20||20|
|Short Answer Type Questions - 1||3||4||12|
|Short Answer Type Questions - 1||4||6||24|
|Long Answer Type Questions||6||4||24|
Part A: Introductory Macroeconomics
Unit 1: National Income and Related Aggregates ( 30 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
GDP and Welfare
Unit 2: Money and Banking (15 Periods)
Money – 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, Control of Credit through Bank Rate, CRR, SLR, Repo
Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.
Unit 3: Determination of Income and Employment ( 30 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.
Unit 4: Government Budget and the Economy (17 Periods)
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.
Unit 5: Balance of Payments (18 Periods)
Balance of payments account - meaning and components;
Balance of payments – Surplus and Deficit
Foreign exchange rate - meaning of fixed and flexible rates and managed floating.
Determination of exchange rate in a free market, Merits and demerits of flexible and
fixed exchange rate.
Managed Floating exchange rate system
Part B: Indian Economic Development
Unit 6: Development Experience (1947-90) and Economic Reforms since 1991:
A brief introduction of the state of 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 liberalisation, globalisation and privatisation (LPG policy);
Concepts of demonetization and GST
Unit 7: Current challenges facing Indian Economy ( 60 Periods)
Human Capital Formation: How people become resource; Role of human capital in
economic development; Growth of Education Sector in India
Rural development: Key issues - credit and marketing - role of cooperatives;
agricultural diversification; alternative farming - organic farming
Employment: Growth and changes in work force participation rate in formal and
informal sectors; problems and policies
Sustainable Economic Development: Meaning, Effects of Economic Development on
Resources 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
Part C: Project in Economics (20 Periods)
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