Economics Syllabus for CBSE Class 12 , 2014

 

 

Economics  Syllabus for CBSE Class 12 , 2014

Economics Syllabus for CBSE Class 12 , 2014 Details:

Part A : Introductory Microeconomics

Unit I: Introduction

Meaning of Microeconomics and Macroeconomics

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 II: Consumer 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, movement along and shifts in the demand curve; price elasticity of demand - factors affecting price elasticity of demand; measurement of price elasticity of demand – (a) percentage-change method and (b) geometric method (linear demand curve); relationship between price elasticity of demand and total expenditure.