Macroeconomics is an important part of the economics class 12 subject. We all know that economics is regarded as one of the core subjects for the commerce stream and Accountancy class 12 and Business Studies class 12. This puts extra pressure on students to prepare for this subject and score even more. The subject of Economics class 12, is divided into 2 parts: Part A, which is Introduction to Macroeconomics and Part B, called The Indian Economic Development. Here in this blog, you will be getting every unit name under macroeconomics class 12 along with their respective links for study or revision notes on these units.
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Know more about Class 12 Economics – CBSE Course Structure
Structure and Syllabus of Macroeconomics Class 12
As we all know that Macroeconomics class 12 is divided into a total of 5 units covering a plethora of aspects of the study of the economy as well as its vital constituents and related factors. Take a look at the enlisted units for macroeconomics class 12.
|National Income and Related Aggregates||10||28|
|Money and Banking||6||15|
|Determination of Income and Employment||12||27|
|Government Budget and the Economy||6||15|
|Balance of Payments||6||15|
Must Read: Difference Between Micro and Macro Economics
This is one of the most important units of macroeconomics class 12, which deals with the meaning of Macroeconomics, the meaning of Consumer goods such as final goods; capital goods; stocks and flows; gross investment and depreciation, methods of calculating National Income which is Value Added or Product method, Expenditure method and Income method, the Circular flow of income (Two sector model), the aggregates related to National Income: Net National Product (NNP), Gross National Product (GNP), Gross and Net Domestic Product (GDP and NDP)- at factor cost, at market price, and finally Real and Nominal GDP.
Do Read: Economics Project for Class 12
Unit 2: Money and Banking
This unit of macroeconomics class 12 covers topics such as what is Money? About the supply of money and its meaning, public currency and the deposits held by commercial by the commercial banks, the process of money creation by the commercial banking systems, functions of the central bank, control of credit through bank rate, banker’s bank, ratios such as CRR and SLR and much more. Check out the Macroeconomics class 12 notes on Money and Banking Class 12 Notes, Questions, Solutions.
Also read: Money Multiplier: Definition, Notes and Questions
Unit 3: Determination of Income and Employment
This unit of macroeconomics class 12 covers topics such as propensity to consume and the propensity to save (average and marginal), Investment multiplier and its mechanism, short-run Equilibrium output, the aggregate demand and its various components, detailed meaning of involuntary unemployment and full employment, diverse problems of excess demand and deficient demand, various measures and ways to correct them, changes in governmental spending, money and taxes supply.
Unit 4: Government Budget and the Economy
This unit of macroeconomics class 12 deals with topics such as the classification of Expenditure i.e., capital expenditure and revenue expenditure, the classification of Receipts i.e., capital receipts and revenue receipts, meaning, objective and components of Government Budget, multiple measures of government deficit i.e., fiscal deficit, revenue deficit along with primary deficit and their meaning.
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Unit 5: Balance of Payments
This unit of macroeconomics class 12 covers topics and subtopics such as the foreign exchange rate and its definition, the meaning of fixed and flexible rates and managed floating, determination of the exchange rate in the market, Balance of payments account and different components and meaning.
Also read: Economics Project for Class 12: Top 30 List of Ideas
Finally, we hope that this blog had made it easier for you to find relevant study notes on a particular unit and know about the important subtopics of all the units of the macroeconomics class 12. We wish you all the best, and good luck with your exams. These study notes will definitely prove to be helpful for that last moment revision before exams. So score higher with Leverage Edu.