JAC Class 12 Economics Syllabus 2025 is divided into two different sections - Introductory Macroeconomics and Indian Economic Development. Both the parts are equally important and hold the same marks weightage. In each part, there are different topics such as National Income and Related Aggregates, Money and Banking, Determination of Income and Employment, Government Budget and the Economy, Balance of Payments, Development Experience (1947-90), Economic Reforms since 1991, Current Challenges Facing the Indian Economy and Development Experience of India. Check the topics in detail and divide the syllabus in order to prepare a schedule to complete the syllabus. Each topic has a different weightage of marks. Based on it, students can prepare the questions from the syllabus.
DownloadJAC Class 12 Economics Syllabus 2025-26 here
JAC Class 12 Economics Syllabus 2025-2026
Below given is the detailed syllabus:
Part A: Introductory Macroeconomics | |
Unit 1: National Income and Related Aggregates | What is Macroeconomics? Key terms in macroeconomics include stocks and flows, gross investment, depreciation, capital goods, final goods, and intermediate goods. 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 2: Money and Banking | Money's definition and uses, as well as its supply, which include both public currency and commercial banks' net demand deposits. 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 3: Determination of Income and Employment | Demand aggregate and its constituents. Consumption and saving propensities (marginal and average). Output of short-run equilibrium; the investment multiplier and how it works. Definitions of involuntary unemployment and full employment.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 | 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 | Meaning and components of the balance of payments account; balance of payments: surplus and deficit Foreign exchange rate refers to both controlled floating and set, flexible rates. In a free market, the exchange rate is determined, Advantages and disadvantages of fixed and flexible exchange rates. Managed Floating exchange rate system. |
Part B: Indian Economic Development | |
Unit 6: Development Experience (1947-90) and Economic Reforms since 1991 | An overview of the Indian economy just before independence, in brief. The Five Year Plans' shared objectives and the Indian economic structure. Principal characteristics, issues, and policies about industry (IPR 1956; SSI – role & importance), agriculture (institutional aspects and new agricultural strategy), and international commerce. 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 | The development of human capital: how individuals are turned into resources; the function of human capital in economic growth; and the expansion of the Indian education sector. Key concerns in rural development include lending and marketing, the function of cooperatives, agricultural diversification, organic farming, and alternative farming. Employment: Issues and strategies; growth and shifts in the percentage of people employed in the official and informal sectors. Meaning and Consequences of Sustainable Economic Development. Global warming is one aspect of resource and environmental development. |
Unit 8: Development Experience of India | A comparison with neighbours India and Pakistan India and China Issues: economic growth, population, sectoral development and other Human Development Indicators. |
