RBSE Class 12th Economics Syllabus 2023: Rajasthan's Board of Secondary Education (RBSE) has released the latest and updated syllabus for the 2023 Class 12 Economics exam. Economics (Code: 10) is a core subject for the RBSE Class 12 commerce stream, but students of all streams can choose Economics to study. It is also popular among students in the humanities stream. The RBSE Class 12 Economics syllabus covers all the essential topics of the subject, including micro- and macroeconomics. The RBSE board exams are fast approaching, so it’s important to go through the syllabus to make sure you haven’t missed preparing any topics. Check here the Rajasthan Board Class 12 Economics syllabus and examination scheme for the 2023 exams and download PDF.
RBSE Economics Class 12 Examination Scheme
Marks for the Paper
RBSE Class 12th Economics Syllabus 2023
Part A: Introductory Macroeconomics
Unit 1: Macroeconomics
Chapter 1. INTRODUCTION
Emergence of Macroeconomics, Context of the Present Book of Macroeconomics
Chapter 2. NATIONAL INCOME ACCOUNTING
Basic concepts in macroeconomics, Circular flow of income (two sector model); Methods of calculating National Income - Value Added or Product method, Expenditure method, Income method. Factor cost, basic prices and market prices, macreoeconomic identities, Real and Nominal GDP, GDP and Welfare.
Unit 2: Money and Banking
Chapter 3. Money and Banking
Functions of Money, demand for money, supply of money, Money creation by the banking system : Balance Sheet of a Fictional Bank, Limits to Credit Creation and Money Multiplier, policy tools to control money supply.
Unit 3: Income and Employment
Chapter 4. Determination of Income and Employment
Aggregate demand and its components-consumption, investment, determination of Income in two sector model, Determination of equilibrium with price level, fixed effect of an autonomous change in aggregate demand on income and output. The multiplier mechanism, other concepts.
Unit 4: Government Budget
Chapter 5. Government Budget and the Economy
Government budget - meaning, objectives and its components, Objectives of government budget, Classification of receipts , Classification of expenditure,Balanced, surplus, deficit Budget. Measures of government deficit.
Unit 5: Open Economy
Chapter 6. Open Economy-Macroeconomics
Balance of payments, current account, capital account, balance of payments surplus and deficit. Foreign exchange market, Foreign exchange rate, Determination of exchange rate , merits and demerits of flexible and fixed exchange rate systems, managed floating.
Part B :Introductory Microeconomics
Unit 1: Introductory Microeconomics
Chapter 1. INTRODUCTION
A Simple Economy , Central Problems of an Economy , Organisation of Economic Activities ,The Centrally Planned Economy,The Market Economy, Positive and Normative Economics, Microeconomics and Macroeconomics.
Unit 2: CONSUMER BEHAVIOUR
Chapter 2. THEORY OF CONSUMER BEHAVIOUR
Utility, Cardinal Utility Analysis, Ordinal Utility Analysis, The Consumer’s Budget, Budget Set and Budget Line, Changes in the Budget Set, Optimal Choice of the Consumer, Demand, Demand Curve and the Law of Demand, Deriving a Demand Curve from Indifference Curves and Budget Constraints, Normal and Inferior Goods, Substitutes and Complements, Shifts in the Demand Curve , Movements along the Demand Curve and Shifts in the Demand Curve, Market Demand, Elasticity of Demand, Elasticity along a Linear Demand Curve, Factors Determining Price Elasticity of Demand for a Good, Elasticity and Expenditure.
Unit 3: CONCEPTS of PRODUCTION AND COSTS
Chapter 3. PRODUCTION AND COSTS
Production Function. The Short Run and the Long Run. Total Product, Average Product and Marginal Product. The Law of Diminishing Marginal Product and the Law of Variable Proportions. Shapes of Total Product, Marginal Product and Average Product Curves. Returns to Scale, Costs, Short Run and Long Run Costs .
Unit 4: PERFECT COMPETITION
Chapter 4: THE THEORY OF THE FIRM UNDER PERFECT COMPETITION
Perfect Competition: Defining Features, Revenue , Profit Maximization , The Profit Maximization Problem: Graphical Representation, Supply Curve of a Firm, Short Run Supply Curve of a Firm. Long Run Supply Curve of a Firm, The Shut Down Point , The Normal Profit and Break-even Point , Determinants of a Firm’s Supply Curve, Technological Progress, Input Prices, Market Supply Curve, Price Elasticity of Supply.
Chapter 5: MARKET EQUILIBRIUM
Equilibrium, Excess Demand, Excess Supply, Market Equilibrium: Fixed Number of Firms, Market Equilibrium: Free Entry and Exit, Applications, Price Ceiling Price Floor.
Chapter 6. NON-COMPETITIVE MARKETS
Simple Monopoly in the Commodity Market, Market Demand Curve is the Average Revenue Curve, Total, Average and Marginal Revenues, Marginal Revenue and Price Elasticity of Demand, Short Run Equilibrium of the Monopoly Firm, Other Non-perfectly Competitive Markets , Monopolistic Competition, Oligopoly.
The prescribed books for RBSE class 12 Economics course are NCERT’s Introductory Microeconomics and Introductory Macroeconomics.
You can check and download RBSE class 12 Economics syllabus 2023 PDF below.
RBSE Class 12th Economics Syllabus 2023 Download PDF
Also Read: RBSE 12th English Syllabus 2023: Download Rajasthan Board Class 12 English Syllabus PDF
Also Read: RBSE 12th Mathematics Syllabus 2023: Download Rajasthan Board Class 12 Mathematics Syllabus PDF