Economics Project for Class 12

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Economics Project for Class 12

Economics is a branch of Social Sciences that has a great influence on society. One of the fast-changing fields, Economics demands a deeper study of current economic trends that influence the financial stability of a country. In senior secondary education, basics concepts are covered and an overview of advanced concepts gives you a fine grounding in the subject and prepare you for higher education in the field. Project work comprises an important part of the class 12 Economics syllabus. Besides studying the theoretical aspect of the subject, it is imperative to understand the practical aspect of it by studying case studies and examining current economic trends in various countries. If you are looking for an idea for an Economics project for class 12, read on to know all about it.

Best Topics for Economics Project for Class 12

The core objective of the project work is to equip you with the skills to observe and understand economics. At the senior secondary stage, you will understand the abstract ideas, exercise the power of critical thinking and develop a perception that is unique to you. At this stage, you will be exposed to the rigour of the subject in a systematic way. The economics project for class 12th is aimed at helping you probe deeper into the application part of the subject. Besides this, it is to lay emphasis on the role of Economics in nation-building and tackling the issues faced in the field.

Economics is a vast subject and needs an in-depth study of each concept. One of the most dynamic subjects, Economics Studies GDP, Taxation, Import and Export, Budget, etc. When it comes to making an Economics project for class 12th, there are a number of options but choosing a topic can be an exhausting task. Take a look at the table below to know the best topics for Economics Project for Class 12 CBSE 2020-21:

  1. Banking Sector Reforms
  2. Tax Reforms
  3. Digital India Movement in India
  4. Import Substitution vs Export Promotion
  5. Impact of Macroeconomic Variables on Values of Currencies
  6. Price Determination
  7. Opportunity Cost
  8. Demand and its Determinants
  9. Production – Returns to a Factor
  10. Monopoly
  11. Monopolistic Competition
  12. Supply and its Determinants
  13. Demonetization in India
  14. Price Discrimination
  15. Budget Deficit
  16. Cost Function and Cost Curve
  17. Credit Creation
  18. Balance of Payment
  19. Production Possibility Curve
  20. The Central Bank and its Functions

Before you check more Economics project topics for class 12,
find out the difference between Macro and Micro Economics!

More Topics for Economics Project for CBSE 2020-21

Along with the aforementioned ones, here are some more topics for Economics Project for Class 12:

  1. Principles of Management
  2. Foreign Exchange Market
  3. Exchange Rate System
  4. Development of Indian Economy
  5. Money Multiplier
  6. Government Budgets and its Components
  7. Basic Principles of
  8. Taxation
  9. Price Determination
  10. Evolution of Barter System
  11. Cashless Economy

Description of Economics Project for Class 12

We have explained some of the above-mentioned topics in detail here:

Banking Sector Reforms

Under the banking sector reforms, you need to talk in detail about the reforms that the banking sector underwent and the impact of it on the economy as a whole. Starting with how the economic policy of liberalisation changed the financial scenario of India, you need to bring in a detailed study of every reform and the thinking behind these reforms. Also, before getting into the reforms, a brief overview of what triggered these reforms should be given.  The key points that you can talk about are the following:

  1. Reduction of Statutory Liquidity Rate (SLR)and Cash Reserve Ratio (CRR)
  2. Deregulation of interest rates 
  3. Allowing foreign banks to open branches in India with regard to the liberalisation policy
  4. How the reforms changed the position of RBI from being a regulator to a facilitator 

Tax Reforms

In a project on Tax reforms, you need to talk about three important things. Firstly, what are tax reforms? Secondly, why there was a need for tax reforms in India. Thirdly, what were these reforms that were brought in. And fourthly, what was the impact of these reforms on the economy and if this impact was what the government was planning to achieve through the reforms. Key topics of the project are the following: 

  1. India’s fiscal policy
  2. Types of taxes (Indirect and direct taxes)
  3. Change in tax rates 
  4. Simplification of the fiscal system
  5. Tax evasion

Digital India Movement

Under the topic digital India movement you need to chart the whole teleology of the digital India Movement. Basically, you need to give an overview of how this movement started, yeh thought process behind it, the impact of this movement and also what is your take on this entire movement. Some key topics that you can include are the following: 

  1. Awareness of digital India project
  2. Adoption of the digital India policy by people coming from rural areas
  3. Effectiveness of digitalisation
  4. Digital India and foreign trade 
  5. Overall impact of the Digital India Movement

Import Substitution vs Export Promotion

Important substitution and export promotion are the two key trade policy reforms and both of them are quite different from one another. So, in the project you need to discuss the trade policy reforms in detail, then go on to talk about what is import substitution and export promotion and how both of them are different from one another. To conclude you need to bring it all together and throw light on what did the government hope to achieve by bringing in these two policies. So key topics that you can include in the project are the following: 

  1. Phases of Export promotion
  2. Export promotion council of India
  3. Objectives behind export promotion
  4. Export promotion policies
  5. History of import substitution
  6. Objectives behind import substitution
  7. Measures for important substitution

Impact of Macroeconomic Variables on Values of Currencies

For this project, you need to talk in detail about how different economic variables impact the values of currencies or the exchange rate. Some key economic variables that you need to discuss in relation to the value of currency are as follows: 

  1. Inflation rate
  2. Balance of payment
  3. Tax rate
  4. Import and export value
  5. Monetary policy

Price Determination

In this project, you need to discuss how the prices are determined in different forms of the market. It will involve a detailed understanding of different forms of market, its structures, graphs and other data related to price determination. The key topics that you can include in the project are the following: 

  1. Types of market
  2. Perfect competition and price determination
  3. Monopoly market and price determination
  4. Monopolist market and price determination
  5. Oligopoly and price determination

Opportunity Cost

A project on opportunity cost must cover the following topics. 

  1. What is opportunity cost
  2. Opportunity cost graph
  3. Examples of opportunity cost
  4. How to calculate opportunity cost
  5. Applications of opportunity cost (Determining factor prices, Determining economic rent, Consumption pattern decisions, Determining factor prices, Product plan decisions, Decisions about national priorities)
  6. Types of opportunity cost (Explicit cost, implicit cost and marginal opportunity cost?

Demand and its Determinants

A project on demand and its determinants must cover the following keys topics:

  1. What is demand
  2. Demand curve and schedule
  3. Law of demand
  4. Exceptions of law of demand
  5. An introduction to determinants of demand
  6. Different determinants of demand ( price of the product , income of the consumer, taste and preference of the consumer, price of related goods , etc.) and how they impact the demand of a commodity. 

Production – Returns to a Factor

Returns to factor is an important law of production, making it one of the important components of economic study. A project on returns to factor must cover the following topics:

  1. What are factors of production
  2. Variable factors
  3. Fixed factors
  4. Diminishing returns to scale
  5. Total/Average/Marginal productivity

Monopoly

The project must cover all the topics related to the monopoly market. In short, a protect on monopoly market must cover all the below-mentioned topics:

  1. What is a monopoly market and its features
  2. Reasons for an emergency of monopoly
  3. Types of monopoly
  4. Can a monopoly market be harmful to the economy
  5. Market structures related to a monopoly market

Sample Economics Project for Class 12

To help you create a high-score economics project, here is a useful sample you can refer to for Economics Project for Class 12:

FAQs

Which topic is best for Economics Project Class 12?

Apart from the Economics project class 12 topics mentioned above, here are some additional topics that can help you with the making of an excellent project: 

Contemporary employment situation in India
Aftermath of the COVID-19 pandemic 
Micro and small scale business
Food supply channel in India
Disinvestment Policy
Health expenditure (You can pick a district or a small state for this analysis)
Good and Service tax
Inclusive growth strategy
Human development index

How do I write a project economic file?

Different schools and examination boards follow separate guidelines for Economics project class 12. The best option is to take advice from your teachers on the same. Make sure your project is 100% authentic. To get some additional points, try to target an ongoing Economic issue. 

How can I make a class 12 project?

To make a class 12 project, you need to follow the guidelines issued by the official board of examination. Get your project topic approved by your teacher before you start working on it. And try to keep the project original, avoid copying other people’s ideas!

Economics is a fascinating subject that has bright career prospects. With two Nobel Laureates in Economics like Amartya Sen and Abhijeet Banerjee belonging to India, the subject has seen many takers. Economics project for class 12th will give you a practical understanding of the subject and prepare you for higher education in the field. While you prepare for your 12th class exams, you can plan your future education with Leverage Edu. Our experts will prepare a career map for your educational plans and help you get admission to your desired university. 

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7 comments
    1. Hey Tejashree!

      You can use the sample project shown in the blog as a guide for your own project. Thank you!

    1. Hi Sameer,
      We are thrilled and glad to know that our blog has managed to help you out with an interesting topic selection for your Class 12th Economics Project. We would like to wish you all the best for your upcoming Board exams. Here are some top searches listed below that we would like to recommend you:
      https://leverageedu.com/blog/class-10th-and-class-12th-date-sheet/
      https://leverageedu.com/blog/cbse-board-exam/
      https://leverageedu.com/blog/class-12-economics/

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