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, basic concepts are covered and an overview of advanced concepts gives you a fine grounding in the subject and prepares 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:

21. Principles of Management
22. Foreign Exchange Market
23. Exchange Rate System
24. Development of the Indian Economy
25. Money Multiplier
26. Government Budgets and its Components
27. Basic Principles of
28. Taxation
29. Price Determination
30. Evolution of the Barter System
31. 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:

32. Reduction of Statutory Liquidity Rate (SLR)and Cash Reserve Ratio (CRR)
33. Deregulation of interest rates 
34. Allowing foreign banks to open branches in India with regard to the liberalisation policy
35. 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 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. The key topics of the project are the following: 

36. India’s fiscal policy
37. Types of taxes (Indirect and direct taxes)
38. Change in tax rates 
39. Simplification of the fiscal system
40. 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: 

41. Awareness of the Digital India project
42. Adoption of the digital India policy by people coming from rural areas
43. Effectiveness of digitalisation
44. Digital India and foreign trade 
45. The 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: 

46. Phases of Export Promotion
47. Export promotion council of India
48. Objectives behind the export promotion
49. Export promotion policies
50. History of import substitution
51. Objectives behind import substitution
52. 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: 

53. Inflation rate
54. Balance of payment
55. Tax rate
56. Import and export value
57. 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, their structures, graphs and other data related to price determination. The key topics that you can include in the project are the following: 

58. Types of market
59. Perfect competition and price determination
60. Monopoly market and price determination
61. Monopolist market and price determination
62. Oligopoly and price determination

Opportunity Cost

A project on opportunity cost must cover the following topics. 

63. What is the opportunity cost
64. Opportunity cost graph
65. Examples of opportunity cost
66. How to calculate opportunity cost
67. Applications of opportunity cost (Determining factor prices, Determining economic rent, Consumption pattern decisions, Determining factor prices, Product plan decisions, Decisions about national priorities)
68. 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:

69. What is demand
70. Demand curve and schedule
71. Law of demand
72. Exceptions of the law of demand
73. An Introduction to Determinants of Demand
74. 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:

75. What are the factors of production
76. Variable factors
77. Fixed factors
78. Diminishing returns to scale
79. Total/Average/Marginal productivity

Monopoly

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

80. What is a monopoly market and its features
81. Reasons for an emergency of monopoly
82. Types of monopoly
83. Can a monopoly market be harmful to the economy
84. 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

Economics is a fascinating subject that has bright career prospects. With two Nobel Laureates in Economics Amartya Sen and Abhijeet Banerjee belonging to India, the subject has seen many takers. The 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.