Himachal Pradesh Board Economics Syllabus for Class 12

Himachal Pradesh Board Syllabus for Class 12 Economics

Part A: Introductory Micro Economics

Unit 1: Introduction (10 Periods)

What is microeconomics ?
Central problems of an economy, production possibility curve and opportunity cost.

Unit 2: Consumer Behaviour and Demand (25 Periods)

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 demand curve, price elasticity of demand, measurement of price elasticity of demand - percentage, total expenditure and geometric methods.

Unit 3: Producer Behaviour and Supply (37 Periods)

Production function - Returns to a factor and returns to scale.

Supply, market supply, determinants of supply, supply schedule, supply curve, movement along and shifts in supply curve, price elasticity of supply, measurement of price elasticity of supply - percentage and geometric method.

Cost and Revenue - Short-run costs-Total cost, Total variable cost, Total Fixed cost; Average Fixed cost, Average Variable cost and Marginal cost-meaning and their relationship. Revenue total, average and marginal revenue-

Producers equilibrium-Meaning and its conditions in terms of total cost and total revenue.

Unit 4: Forms of Market and Price Determination (20 Periods)

Forms of market - Perfect competition, competition - their meaning and features.

Price determination under perfect competition - Equilibrium price, effects of shifts in demand and supply.

Unit 5: Simple Applications of Tools of Demand and Supply curves (12 Periods)

Part B: Introductory Macro Economics

Unit 6 : National Income and Related Aggregates (30 Periods)

Macroeconomics: Meaning.

Circular flow of income, concepts of GDP, GNP, NDP, NNP (at market price and factor cost), National Disposable Income (gross and net); Private Income, Personal, Income and Personal Disposable Income, Measurement of National Income - Value Added method, Income method and Expenditure method.

Unit 7: Determination of Income and Employment (25 Periods)

Aggregate demand, Aggregate supply and their components.
Propensity to consume and propensity to save (average ad 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-8: Money and Banking (18 Periods) (18 Periods)

Money - meaning and functions.
Central bank - meaning and functions.
Commercial banks - meaning and functions.
Recent significant reforms and issues in India Banking System.
Privatization and Modernization.

Unit-9 : Government Budget And The Economy (17 Periods)

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.

Down sizing the role of government : Meaning and implications.

Unit-10 : Balance of Payments

Foreign exchange rate - meaning (Fixed and Flexible), merits and demerits;

Determination through demand and supply.

Balance of payments account - meaning and components.

A brief analysis about recent exchange rate issues.

Books Recommended:

Introductory Microeconomics : Published by N.C.E.R.T., NEW DELHI.
Introductory Macroeconomics: Published by N.C.E.R.T., NEW DELHI.

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