Class 12 Economics Book ( Indian Economy + Macro Economics) Course code: 102
A most valuable investment for your bright future.
Instructor: Chandan Poddar
Validity Period: 365 days₹460 2% OFF
Class 12 Economics books by Chandan Poddar sir is the blessing of Maa Saraswati and Shree Kahtu Shyam Baba. It's one of the best books for class 12 students to prepare for class 12 economics. Exclusive features of writing are :
a) Student-friendly language.
b) Concept linkage with practical examples.
c) Authorised publication by Hope International.
d) Successfully running in various schools and coaching centres of India.
Unit 1: National Income and Related Aggregates
What is Macroeconomics? Basic concepts in macroeconomics: consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation. 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 and Net Domestic Product (GDP and NDP) - at market price, at factor cost; Real and Nominal GDP. GDP and Welfare.
Unit 2: Money and Banking
Money - meaning and supply of money - Currency held by the public and net demand deposits held by commercial banks. Money creation by the commercial banking system. The 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, CRR, SLR, Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.
Unit 3: Determination of Income and Employment
Aggregate demand and its components.
The propensity to consume and propensity to save (average and marginal). Short-run equilibrium output; investment multiplier and its mechanism. Meaning of full employment and involuntary unemployment. 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. Measures of government deficit - revenue deficit, fiscal deficit, primary deficit their meaning.
Unit 5: Balance of Payments
Balance of payments account - meaning and components; the balance of payments deficit meaning. Foreign exchange rate - meaning of fixed and flexible rates and managed floating. Determination of exchange rate in a free market.
Indian Economic Development
Unit: Development Experience (1947-90) and Economic Reforms since 1991: A brief introduction of the state of Indian economy on the eve of independence. Common goals of Five Year Plans.
Main features, problems and policies of agriculture (institutional aspects and new-agricultural strategy, etc.), industry (industrial licensing, etc.) and foreign trade. Economic Reforms since 1991: Features and appraisals of liberalisation, globalisation and privatisation (LPG policy); Concepts of demonetization and GST.
Unit: Current challenges facing Indian Economy: Poverty- absolute and relative; Main programmes for poverty alleviation: A critical assessment; Rural development: Key issues - credit and marketing - the role of cooperatives; agricultural diversification; alternative farming - organic farming
Human Capital Formation: How people become resource; Role of human capital in economic development; Growth of Education Sector in India
Unit: Employment: Formal and informal growth; problems and policies.
Infrastructure: Meaning and Types: Case Studies: Energy and Health: Problems and Policies- A critical assessment; Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming.
Unit: Development Experience of India: A comparison with neighbours India and Pakistan India and China Issues: growth, population, sectoral development and other Human Development Indicators.
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