COMPLETE COURSE OF CBSE CLASS 12TH ECONOMICS

WHAT DO YOU UNDERSTAND BY MICRO ECONOMICS?

• Meaning of microeconomics 
• What is an economy? 
• Central problems of an economy: what, how and for whom to produce 
• Concepts of production possibility frontier and opportunity cost  

  WHAT DO YOU UNDERSTAND BY UTILITY ANALYSIS, CONSUMER EQUATION?

   
• Consumer's equilibrium − §  Meaning of utility §  Marginal utility §  Law of diminishing marginal utility §  Conditions of consumer's equilibrium using marginal utility analysis 
• Indifference curve analysis of consumer's equilibrium − §  The consumer's budget (budget set and budget line) §  Preferences of the consumer (indifference curve, indifference map) §  Conditions of consumer's equilibrium  

  WHAT DO YOU UNDERSTAND BY DEMAND?

   
• Market demand 
• Determinants of demand 
• Demand schedule ·
• Demand curve and its slope 
• Movement along and shifts in the demand curve 
• Price elasticity of demand - factors affecting price elasticity of demand 
• Measurement of price elasticity of demand − §  percentage-change method §  geometric method (linear demand curve) 
• Relationship between price elasticity of demand and total expenditure

  WHAT DO YOU UNDERSTAND BY SUPPLY?

   
• Market supply 
• Determinants of supply 
• Supply schedule 
• Supply curve and its slope 
• Movements along and shifts in supply curve 
• Price elasticity of supply 
• Measurement of price elasticity of supply − §  Percentage change method and §  Geometric method  

  WHAT DO YOU UNDERSTAND BY COST AND REVENUE?

   
• Cost and Revenue − §  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 relationship 
• Revenue − §  Total revenue §  Average revenue §  Marginal revenue - meaning and their relationship  

  WHAT DO YOU UNDERSTAND BY MARKET?

   
• Perfect competition − o   Features o   Determination of market equilibrium o   Effects of shifts in demand and supply 
• Other Market Forms − o   Monopoly o   Monopolistic competition o   Oligopoly - their meaning and features  

  WHAT DO YOU UNDERSTAND BY NATIONAL INCOME?

   
• Some basic concepts − o   Consumption goods o   Capital goods o   Final goods o   Intermediate goods o   Stocks and flows o   Gross investment o   Depreciation 
• Circular flow of income − o   Methods of calculating National Income − §  Value Added or Product method §  Expenditure method §  Income method  

  WHAT DO YOU UNDERSTAND BY MONEY AND BANKING?

   
• Money - its meaning and functions 
• Supply of money − o   Currency held by the public o   Net demand deposits held by commercial banks 
• Money creation by the commercial banking system 
• Central bank and its functions (example of the Reserve Bank of India) − o   Bank of issue o   Govt. Bank o   Banker's Bank o   Controller of Credit through Bank Rate o   CRR o   SLR o   Repo Rate o   Reverse Repo Rate o   Open Market Operations o   Margin requirement  

  WHAT DO YOU UNDERSTAND BY INCOME AND EMPLOYMENT?

   
• Aggregate demand and its components 
• 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 - change in government spending, taxes and money supply  

  WHAT DO YOU UNDERSTAND BY GOVERNMENT BUDGET?

   
• Government budget − o   Meaning o   Objectives o   Components 
• Classification of receipts − o   Revenue receipts o   Capital receipts 
• Classification of expenditure − o   Revenue expenditure o   Capital expenditure 
• Measures of government deficit − o   Revenue deficit o   Fiscal deficit o   Primary deficit  

  HOW WE HELP THE STUDENTS???

    These video lectures will make the subject easy for students. The free lecture is available as a demo. We provide mock exams after completion of the full course. These lectures are recording of the live session taken. It will include question and answers of the students undertaken during the class. CBSE Class 12th previous question papers and sample papers are also given to the students for practice. Video Lectures classes are taken by Study Khazana’s best faculties. Video lectures contain examples and formulas related to different topics. We have doubt sessions on YouTube related to students queries asked on WhatsApp. These classes are based on NCERT Syllabus. We offer pen drives and online-offline study mode to the students. We also have Android and IOS Study Khazana mobile app for helping students to study anywhere at any time.