JKBOSE 12th Syllabus 2025–26 Economics: Download PDF, Chapter-Wise Topics, and Marks Distribution

Component

Maximum Marks

Time Allowed

Theory

80

3 Hours

Internal Assessment

20

—

Total

100

3 Hours

Part

Unit

Marks

Part A

Introductory Microeconomics

40

Introduction

4

Consumer's Equilibrium and Demand

14

Producer Behaviour and Supply

14

Forms of Market and Price Determination under Perfect competition with simple applications

8

Part B

Introductory Macroeconomics

40

National Income and Related Aggregates

10

Money and Banking

6

Aggregate Demand & Aggregate Supply

12

Government Budget and the Economy

6

Balance of Payments & International Institutions

6

Theory Paper (Total of Part A and B)

80

Part C

Project Work

20

Grand Total

100

Unit

Topic/Concept

Details Covered

Part A: Introductory Microeconomics

Unit 01: Introduction

Introduction to Economics

Meaning of micro-economics and macro-economics; positive and normative economics.

Central Problems

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 02: Consumer Equilibrium and Demand

Consumer Equilibrium

Utility Approach: One and two commodity cases.

Demand

Market demand, determinants of demand, demand schedule, demand curve, movement along and shifts in demand curve.

Price Elasticity of Demand

Price elasticity of demand, measurement of price elasticity of demand: percentage, total expenditure, and geometric methods.

Unit 03: Producer Behaviour & Supply

Production

Meaning of Production Function (Short-Run and Long-Run); Total product, Average Product and Marginal Product; Returns to a factor.

Cost

Short run costs: Total Cost, Total Fixed Cost, Total Variable Cost; Average Cost; Average Fixed Cost, Average Variable Cost and Marginal Cost - meaning and their relationships.

Revenue

Total Revenue, Average Revenue and Marginal Revenue - meaning and their relationship.

Producer's Equilibrium

Meaning and its conditions in terms of Marginal Revenue-Marginal Cost approach.

Supply

Market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in supply curve.

Price Elasticity of Supply

Price elasticity of supply; measurement of price elasticity of supply - percentage change method.

Unit 04: Forms of Market and Price Determination

Market Forms

Perfect competition - Features; Determination of market equilibrium and effects of shifts in demand and supply. (Short Run Only)

Simple Applications

Simple Applications of Demand and Supply: Price ceiling, Price floor.

Part B: Introductory Macroeconomics

Unit 05: National Income and Related Aggregates

Introduction to Macroeconomics

What is macro-economics?

Basic Concepts

Consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation.

Circular Flow & Measurement

Circular flow of income (two sector model); Methods of calculating National Income: Value Added method, Expenditure and Income methods.

Related Aggregates

Gross National Product (GNP), Net National Product (NNP), Gross Domestic Product (GDP) and Net Domestic Product (NDP) - at market price, at factor cost; Real and Nominal GDP; GDP Deflator, GDP and Welfare.

Unit 06: Money and Banking

Money

Meaning and functions of money, supply of money (Currency held by the public and net demand deposits held by commercial banks).

Commercial Banking

Money creation by the commercial banking system.

Central Banking

Central bank and its functions (example of Reserve Bank of India): Bank of issue, Govt. Bank, Bankers Bank, Control of Credit through Bank Rate, Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR), Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.

Unit 07: Determination of Income and Employment

Aggregate Demand

Aggregate demand and its components.

Consumption & Saving

Consumption Function- Meaning; Propensity to consume and propensity to save (average and marginal).

Equilibrium & Multiplier

Short-run equilibrium output; investment multiplier and its mechanism.

Employment Concepts

Meaning of full employment and involuntary unemployment.

Problems & Measures

Problems of excess demand and deficient demand; measures to correct them - changes in government spending, taxes and money supply.

Unit 08: Government Budget and the Economy

Government Budget

Government budget - meaning, objectives and components.

Classification of Receipts & Expenditure

Classification of receipts - revenue receipts and capital receipts; Classification of expenditure - revenue expenditure and capital expenditure.

Budget Balances & Deficits

Balanced, Surplus and Deficit Budget; measures of government deficit.

Unit 09: Balance of Payments

Balance of Payments Account

Balance of payments account - meaning and components; Balance of payments Surplus and Deficit.

Foreign Exchange Rate

Foreign exchange rate - meaning of fixed and flexible rates and managed floating.

Determination & Systems

Determination of exchange rate in a free market, Merits and demerits of flexible and fixed exchange rate. Managed Floating exchange rate system.

Section

Type of Question

Number of Questions

Marks per Question

Total Marks

Word Limit (Approx.)

A

Objective Type/Multiple Choice Questions

10

1

10

N/A

B

Very Short Answer Type Questions

10

2

20

20-30 words

C

Short Answer Type Questions (With Internal Choice)

8

4

32

100-150 words

D

Long Answer Type Questions (With Internal Choice)

3

6

18

150-200 words

Total

31

80