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ECONOMICS SYLLABUS | AHSEC CLASS 12 SYLLABUS | 2020 - 21 | REVISED AND REDUCED

ECONOMICS

SYLLABUS FOR HIGHER SECONDARY FINAL YEAR COURSE

AHSEC SYLLABUS 2020-21 (REVISED AND REDUCED)

One Paper-Three Hours-Marks 100

Unit wise Distribution of Marks and Periods:

Unit No.

Title

Marks

Periods

Part-A

INTRODUCTORY MICROECONOMICS

 

 

Unit-I

Unit-II

Unit-III

Unit-IV

Unit-V

Introduction

Consumer Behaviour and Demand

Producer Behaviour and Supply

Forms of Market and Price Determination

Simple applications of Tools of demand and supply

04

13

15

10

08

10

25

32

20

12

PART-B

INTRODUCTORY MACROECONOMICS

 

 

Unit-VI

Unit-VII

Unit-VIII

Unit-IX

Unit-X

National Income and Related Aggregates

Determination of Income and Employment

Money and Banking

Government Budget and the Economy

Balance of Payments

12

12

08

12

06

25

25

17

20

14

 

Total

100

200

Unit wise Distribution of Course contents:

Part-A: INTRODUCTORY MICROECONOMICS

This course introduces the learner to economics as a science of abstraction and reasoning. It introduces some basic concepts and tools to understand economic issues of an individual or a firm and how decisions are taken in variety of markets. It also intends to provide exposure to the learners on how choices are mare and how a variety of statistical tools are used to optimally allocate the resources.

Unit-I Introduction

v  What is microeconomics?

v  Central problems of an economy, production possibility curve and opportunity cost.

Unit-II Consumer Behaviour and Demand

v  Consumer’s Equilibrium: meaning and attainment of equilibrium through Utility Approach: One and two commodity cases. Indifference curve approach.

v  Demand: Concept of demand, determinants of demand, demand schedule, demand curve, market demand, movement along and shifts in demand curve, price elasticity of demand, measurement of price elasticity of demand– percentage, total expenditure and geometric methods.

Unit-III Producer Behaviour and Supply

v  Production function: returns to factor and returns to scale.

v  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 methods.

v  Cost and Revenue: Concepts of costs, short-run cost curves (fixed and variable costs; total, average and marginal costs); concepts of revenue– total, average and marginal revenue and their relationship. Producer’s equilibrium– with the help of MC and MR.

Unit-IV Forms of Market and Price Determination

v  Forms of market– perfect competition, monopoly, monopolistic competition– their meaning and features.

v  Price determination under perfect competition– equilibrium price, effects of shifts in demand and supply.

Unit-V Simple applications of Tools of demand and supply Curves

Change in cost conditions and its impact on the form’s and market supply.

v  Geometric method to determine the elasticity of supply.

v  Effects of taxation: Per unit tax, lump sum tax Price ceilings and price floor.

Part-B: INTRODUCTORY MACROECONOMICS

The overall working of an economy and some of its economic theorisation are introduced in this course. The learners will get some basic idea of how the government regulates the functioning of economic aspects of a country though accounting of the production activities, running financial institutions, budgeting and the accounting of its economic interaction with other countries. The impact it will have on citizens is also briefly introduced.

Unit-VI National Income and Related Aggregates– Basic Concepts and Measurement

v  Macroeconomics: meaning.

v  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.

v  Measurement of National Income– Value Added method, Income method and Expenditure method.

Unit-VII Determination of Income and Employment

v  Aggregate demand, aggregate supply and their components.

v  Propensity to consume and propensity to save (average and marginal)

v  Meaning of involuntary unemployment and full employment.

v  Determination of income and employment: two sector model.

v  Concept of investment multiplier and it’s working.

v  Problems of excess and deficient demand.

v  Measures to correct excess and deficient demand– availability of credit, change in government spending.

Unit-VIII Money and Banking

v  Money : meaning, evolution and functions

v  Central bank: meaning and functions.

v  Commercial banks : meaning and functions

v  Credit Control by RBI

v  Recent significant reforms and issues in Indian Banking System: privatisation and modernisation.

Unit-IX Government Budget and the Economy

v  Government budget– meaning and its components.

v  Objectives of government budget.

v  Classification of receipts– revenue and capital; classification of expenditure– revenue and capital, plan and non-plan and developmental and non-developmental.

v  Balanced budget, surplus budget and deficit budget: meaning and implications.

v  Revenue deficit, fiscal deficit and primary deficit: meaning and implications; measures to contain different deficits.

v  Downsizing the role of government: meaning and implications.

v  The introduction of GST in the Indian Economy.

Unit-X Balance of Payments

v  Foreign exchange rate– meaning (fixed and flexible), merits and demerits; determination through demand and supply.

v  Balance of payments accounts– meaning and components.

v  A brief analysis about recent exchange rate issues.

v  Meaning of Balance of Payment deficit 

***

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