UK Board 12th Syllabus Economics 2024: The Uttarakhand Board of Secondary Education has made the syllabus for the 2023-24 session year available to students. As you continue to study, you should remember the importance of smart work over hard work.
It’s not how hard you study but how well you learn that will help you score marks. The syllabus for many Class 12 subjects of the UK board has been revised or trimmed lately, and there’s no point in overpreparing by following the old curriculum.
Students should keep themselves in check with the latest UK Board Class 12 syllabus. It’s not bad to study extra, especially for over-achievers, but others should stick to the prescribed syllabus.
Subjects like Economics are lengthy and theory-based. There are many new concepts and definitions introduced to students. And it also requires considerable practice and an in-depth understanding of the basics. As such, you must refer to the latest and correct UBSE Class 12 Economics syllabus while studying. It also gives an idea of which units you need to prioritize.
You can view and download the PDF of the UBSE Class 12 Economics syllabus here at Jagran Josh, along with the blueprint and marks distribution.
Related: UK Board Class 12 Syllabus 2023-24: Download Latest and Revised UBSE Class 12 Syllabus PDF
UK Board 12th Economics Syllabus 2023-24
UBSE 12th Economics Marks Distribution
Check below the unit-wise marks distribution of the Uttarakhand Board Economics syllabus for class 12.
Now that you know which units carry the most marks, read the syllabus below and download the full UK Board 12th Economics Syllabus PDF with practical weightage and evaluation scheme.
Part A: Introductory Microeconomics
Unit 1: Introduction
Meaning of microeconomics and macroeconomics; positive and normative economics What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of Production Possibility Frontier and Opportunity Cost.
Unit 2: Consumer’s Equilibrium and Demand
Consumer’s equilibrium – meaning of Utility, Marginal Utility, Law of Diminishing Marginal Utility, conditions of consumer’s equilibrium using marginal utility analysis. Indifference curve analysis of consumer’s equilibrium-the consumer’s budget (budget set and budget line), preferences of the consumer (indifference curve, indifference map) and conditions of consumer’s equilibrium. Demand, market demand, determinants of demand, demand schedule, demand curve and its slope, movement along and shifts in the demand curve; price elasticity of demand – factors affecting price elasticity of demand; measurement of price elasticity of demand – percentage-change method and total expenditure method
Unit 3: Producer Behaviour and Supply
Meaning of Production Function – Short-Run and Long-Run Total Product, Average Product and Marginal Product. Returns to a Factor Cost – Short run costs – Total Cost, Total Fixed Cost, Total Variable Cost; Average Cost; Average Fixed Cost, Average Variable Cost and Marginal Cost – meaning and their relationships. Revenue – Total Revenue, Average Revenue and Marginal Revenue – meaning and their relationship. Producer’s Equilibrium – meaning and its conditions in terms of Marginal Revenue- Marginal Cost. Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply – percentage-change method.
Unit 4: Perfect Competition – Price Determination and simple applications.
Perfect competition – Features; Determination of market equilibrium and effects of shifts in demand and supply. (Short Run Only) Simple Applications of Demand and Supply: Price ceiling, Price floor.
Part B: Introductory Macroeconomics
Unit 5: National Income and Related Aggregates
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 Deflator, GDP and Welfare
Unit 6: Money and Banking
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, Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.
Unit 7: Determination of Income and Employment
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 8: 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. Balanced, Surplus and Deficit Budget – measures of government deficit.
Unit 9: Balance of Payments
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
Check below to read the full syllabus of the Uttarakhand Board Economics syllabus for class 12.
