Economics subject of class 12 CBSE board is divided into two parts: Macroeconomics and Indian Economic Development. Both the parts are very different and need all your efforts to understand the concepts and topics.
In order to help the students score more than 90% marks in class and complete the 12th syllabus in 1 month, we have prepared the ultimate guide. This guide includes the latest 2024 CBSE Class 12 Economics Syllabus, Sample Paper 2024 with other question papers, NCERT solutions, NCERT Books, projects and case studies, MCQ, Important questions for you.
The guide for class 12th is a compiler of all the updated and required study material, streamlining your study time and getting the best result.
Introductory macroeconomics textbook and Indian Economic Development book are covered in this blog along with the important ideas on project works. We have shared the pdf files of Economics book 1 and book 2, chapter-wise notes, sample papers, and previous year question papers with solutions to practice the right way of answering the questions.
We suggest you to join the best 12th commerce classes for better preparation of the Economics exam. All the Best for your exams!
Economics
Subject Code No. 030
The Economics syllabus for class 12 is different from what you have studied before. The CBSE Class 12 Economics Syllabus introduces you to the higher level topics of the real-life economic system at a national level. CBSE has designed the higher secondary curriculum of CBSE to help you in further studies for professional courses like Chartered Accountancy.
Every year CBSE revises and updates the syllabus. For the 2023-24 session as well, CBSE has made changes in the syllabus. The new CBSE class 12 Economics syllabus is available for you on CA Wizard. You can also get the syllabus of other subjects. You should note that CBSE has reduced 30% of the syllabus for the 2023-24 exams. The change is made to give students some relaxation as they face many challenges in the online classes
CA Wizard is an online education library for students in class 11th,12th, CA foundation, CA intermediate, CA final, CS, CAM, and more. We have all the necessary resources for Commerce Stream students. Visit our website if you want the latest syllabus of commerce subjects, ebooks, and papers for all the main commerce subjects (Accountancy, business studies, Maths), English and Hindi syllabus, and more. CA Wizard also provides you with all the latest information on the CA course- the best career option after class 12.
The objective of the Subject
Economics is a subject that majorly focuses on the capabilities of individuals as consumers or producers in the market and deals in finding solutions to their problems. It includes topics like basic problems of economy and market, price mechanism, the theory of demand and supply, production and cost, and business cycles.
CBSE Class 12 Economics Syllabus 2024
Economics is more of a theoretical subject that requires an explanation of the answers in a point-to-point manner. No extra philosophy will be taken into consideration while writing in the answer sheet. The CBSE Syllabus for Class 12th Business Studies is divided into 3 parts.
Part A: Introductory Macroeconomics
The student should consider the Introductory Macroeconomics book to cover the part A syllabus. This part of the syllabus has 5 units with a total weightage of 40 marks.
Part B: Indian Economic Development
The student should consider the Indian Economic Development book to cover the part B syllabus. This part of the syllabus has 10 chapters with a total weightage of 40 marks.
Part C Project Work
Students are supposed to select one unit out of four and are required to make only ONE project from the selected unit. (Consist of one project of 20 marks)
Students can download the revised syllabus from below. CBSE has ensured that the syllabus change makes minimal to no impact on the students who will study Economics in their higher education programs.
Deleted Topics of Economics Syllabus for 2024
- Control of Credit through Bank Rate, CRR, SLR, Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.
- Balance of payments deficit-meaning. Determination of exchange rate in a free market.
- Growth of Education Sector in India alternative farming – organic farming
- Infrastructure: Energy
- Entire Chapter 5 from the book Introductory Macroeconomics can be avoided,
Download CBSE Class 12th Economics Syllabus PDF
You can download the PDF files of the syllabus and deleted topics if you want to keep a copy for future reference. Below are the links to the officially published syllabus of economics class 12th by CBSE.
- Download Revised CBSE Class 12 Economics Syllabus 2023-24 PDF
- Download the Project syllabus list for Class 12 Economics syllabus 2023-24 PDF
Detailed Marking Scheme for Economics Syllabus 2024
The CBSE class 12 marking scheme will help the students to set their timetable on the basis of which chapters have high weightage and which chapters can be left for the last minutes quick sneak peek.
CBSE Class 12 Economics Marking Weightage
| Topics | Marks |
| Part A: Introductory Macroeconomics | |
| National Income and Related Aggregates | 10 |
| Money and Banking | 6 |
| Determination of Income and Employment | 12 |
| Government Budget and the Economy | 6 |
| Balance of Payments | 6 |
| 40 | |
| Part B: Indian Economic Development | |
| Development Experience (1947-90) and Economic Reforms since 1991 | 12 |
| Current Challenges facing Indian Economy | 22 |
| Development Experience of India – A Comparison with Neighbours | 6 |
| 40 | |
| Part C: Project Work | 20 |
| Total Marks | 100 |
Question Paper Design
| Typology of Questions | Marks | Percentage |
| Remembering and Understanding | 44 | 55% |
| Applying | 18 | 22.5% |
| Analyzing, Evaluating, and Creating | 18 | 22.5% |
| Total | 80 | 100% |
Detailed Marking Scheme for Economics Project Syllabus 2024
Students are supposed to select one unit out of four and are required to make only ONE project from the selected unit. (Consist of one project of 20 marks). Our practical guide can help you to prepare projects in the best possible way.it will also help you with project ideas.
Students can create a project file by referring to both the Economics book published by NCERT.
| S.No | Evaluation Scheme | Marks |
| 1 | The relevance of the topic | 3 |
| 2 | Knowledge Content/Research Work | 6 |
| 3 | Presentation Technique | 3 |
| 4 | Viva-voce | 8 |
| Total | 20 |
CBSE prescribed Book for 2024 exam:
Students can now download the CBSE class 12 commerce books and can study anywhere in both offline and online mode. The books are available in 3 different languages Hindi, English, and Urdu.
Students can download the book chapter-wise and can also download the full book with that for the practical subjects in the course.
Students who are appearing for CBSE class 12th Economics exam in English should follow these books
- Indian Economic Development, NCERT
- Introductory Macroeconomics, NCERT
- Supplementary Reading Material in Economics, CBSE
Note: The above publications are also available in Hindi Medium.
Students who are appearing for CBSE class 12th Economics exam in Hindi should download class 12th economics book pdf in Hindi
- Vyashti Arthashastra book in economics for class 12 NCERT
- Bhartiya Airthvavstha Ka Vikash in economics for class 12 NCERT
CBSE Class 12th 2024 Economics Syllabus Chapter Wise Book PDF
Macro Economics
- Download Macroeconomics Introduction Chapter PDF
- Download Money and Banking Chapter PDF
- Download Determination of Income and Employment Chapter PDF
- Download Government Budget Chapter PDF
- Download Balance of Payments Chapter PDF
Indian Economic Development
- Development Experience (1947-50) and Economic Reforms since 1991 Chapter PDF
- Development Experience (1950-90) and Economic Reforms since 1991 Part B
- Poverty Chapter PDF
- Human Capital Formation Chapter PDF
- Rural development Chapter PDF
- Employment Chapter PDF
- Infrastructure Chapter PDF
- Environment and Sustainable Development Chapter PDF
- Development Experience of India Chapter PDF
- Liberalisation, Privatisation And Globalisation _ An Appraisal
CBSE Class 12 Economics Chapter Wise Notes PDF Download
These notes will greatly benefit you in your studies. They are made on the latest syllabus released by CBSE. These notes are made in a simple manner to help you understand and revise the chapters quickly. These CBSE economics notes are more than sufficient, and you don’t have to read any other material during your revisions.
Below are the links for CBSE Class 12th Economics Chapter Wise Notes PDF Download for Part A (Macroeconomics) and Part B (Indian Economic Development). Click download links of the PDFs and start your preparation to score high marks in the class 12th CBSE Economics exam.
Macro Economics
| CBSE Class 12 Economics Chapter Wise Notes PDF Download Links |
| Download Macroeconomics Introduction Chapter Notes |
| Download Money and Banking Notes |
| Download Determination of Income and Employment Notes |
| Download Government Budget Notes |
| Download Balance of Payments Notes |
Indian Economic Development
Download CBSE Class 12 Economics Sample Papers & Previous Year Question Papers
The sample question papers of CBSE are a similar version of the actual Board exam. Solving MCQ-type questions and short types of answers will help you know the pattern of questions in the upcoming exams. When you have a better understanding of the question papers, you will feel more at ease while giving your board exams.
Download CBSE Class 12 Previous Year Question Papers of Economics
Use the links given below to download all the sets of CBSE Class 12 Economics Question Paper. The answer keys of the papers given by CBSE is also available in PDF formats. You can download the solution files based on your study medium (English/Hindi).
Download CBSE Class 12 Model Test Paper of Economics
Model test paper is issued by NCERT and can help students to understand the basic structure of the upcoming paper in 2024. Students should not consider the questions asked in a model test paper as important questions.
Download the PDF of CBSE Class 12 Model Test Paper of Economics.
CBSE Class 12 Economics Question Paper 2024 General Instructions:
General Instructions: The sample paper will help students to know how many MCQ, CQB, and Long-type answers will be asked.
The question paper contains two parts:
Part A – Macro Economics (40 marks)
Part B – Indian Economic Development (40 marks).
- 2 Marks for questions are indicated against each question.
- 3 Question No. 1-10 and Question No. 18 – 27 (including two Case-Based Questions) are 1 mark questions or MCQ and are to be answered in one word/sentence.
- 4 Case-Based Questions (CBQ’s) are Question No. 7-10 and Question No. 25-27.
- 5 Question No. 11-12 and Question No. 28 – 29 are 3 marks questions and are to be answered in 60 – 80 words each.
- 6 Question No. 13-15 and Question No. 30 – 32 are 4 marks questions and are to be answered in 80-100 words each.7 Question No. 16-17 and Question No. 33 – 34 are 6 marks questions and are to be answered in 100-150 words each.
- 8 Answers should be brief and to the point and the above word limit be adhered to as far as possible.
Preparation Tips for Class 12th Economics 2024 Exams
- To help you score well in your Economics exam, here are some preparation tips:
- The two parts of the Economics syllabus are very different. You will need more preparation time in Part A of the Economics syllabus because Macroeconomics has topics related to the national economy. Part B, i.e., Indian Economic Development, is very theoretical so that you can finish it quickly.
- Even though the class 12 exam preparation can be done in one month, you must plan your study schedule to cover both the parts on time as they have equal weightage in the marks. Refer to the marking weightage above.
- Stick to studies from one or two books only. Precisely use NCERT books first and then select any other books.
- After completing the syllabus, solve the latest sample papers for economics, which are released by CBSE. Refer to previous year’s question papers also and solve them.
- Continue your regular revisions.
How to Use CA Wizard Subject Guides?
The guides or the compilers are an easy and handy help of assembling all the necessary documents required to prepare for the exams. The CA wizard guide for Economics paper will be effective for the students if they wisely follow the pattern of using it.
- First Divide your CBSE Class 12 Economics Syllabus into small sections and then download the syllabus for each section.
- Refer to the marking scheme given above to know which topics are more important.
- Create a register or file for each chapter and mark them important, very important, not important, and also mark the deleted topics of particular chapters.
- Take a print out or download the pdf for each chapter’s notes, syllabus, charts, diagrams
- Set the chapters and a timeline and then start preparing.
- After completing the syllabus, download or take the printout of the sample papers, question papers with solutions, and model test papers and practice them with the solution and answer keys.
- Simultaneously continue your revisions.
The Takeaway of the Blog
Now, at this time, students should not leave any stone unturned in their preparation. They should burn the midnight oil to score good marks in the 2024 CBSE Economics Exams. Students who fail to obtain the passing marks in 2024 will get another opportunity by appearing for the compartmental exams.
The easiest way to clear the compartment exam is by solving the previous year’s compartment exam papers. Doing so will give the student an idea of important topics and the paper’s difficulty level.
To help them prepare well, we also provided the CBSE compartment exam question papers with the marking scheme for class 10 and 12. The marking scheme contains the answers to the compartment papers
Frequently Asked Questions
Q1. How many parts and chapters are there in class 12 economics?
Ans:- The complete syllabus is divided into two parts—Macroeconomics and Indian Economic Development. There are a total of eight chapters in the class 12 economics syllabus.
Q2. Is the project work compulsory in class 12 for economics?
Ans:- Yes, the project work carries 20 marks in your class 12 exams.
Q3. Is Economics hard in class 12?
Ans:- Economics is not a difficult subject. Part B in the Class 12 Economics syllabus is very easy, and Part A has a moderate difficulty level. Though Part A’s questions can be tricky, you should only focus on the basics of the topics to solve them.
Q4. Will CBSE reduce the syllabus for class 12?
Ans:- Yes, CBSE has reduced 30% of the syllabus of all subjects. You can get the complete syllabus on our website.
Q5. Is there any change in CBSE 12th Economics Syllabus 2023-24?
Ans:- Yes, CBSE has removed some of the topics from the Economics syllabus for class 12.
Q6. Where can I download PDFs of chapter-wise notes of class 12 Macroeconomics?
Ans. Get the complete Macroeconomics notes at CA Wizard.
Q7. Where can I download PDFs of chapter-wise notes of class 12 Indian economic development?
Ans. Get the complete Indian Economics Development notes at CA Wizard.
Q8. What is the change in the CBSE class 12 Economics Syllabus?
Ans. CBSE has reduced 30% of the Class 12 Economics Syllabus for 2024. Visit the above links to get the new syllabus.
Q9. What will be the level of Economics exam 2024 of the CBSE board?
Ans. CBSE will keep the difficulty level at moderate. However, the exam pattern is already made easier, as you can see in the sample papers.
Q10. What are the important questions of the CBSE Economics class 12 paper?
Ans. See the chapter-wise notes and sample papers given on CA Wizard for all the important questions.