JAC Class 12 Economics Syllabus 2024-25: Check Jharkhand 12th Economics Syllabus

JAC Class 12 Economics Syllabus 2024-25 is divided into two different sections - Introductory Macroeconomics and Indian Economic Development. Both the parts are equally important and hold the same marks weightage. In each part, there are different topics such as National Income and Related Aggregates, Money and Banking, Determination of Income and Employment, Government Budget and the Economy, Balance of Payments, Development Experience (1947-90), Economic Reforms since 1991, Current Challenges Facing the Indian Economy and Development Experience of India. Check the topics in detail and divide the syllabus in order to prepare a schedule to complete the syllabus. Each topic has a different weightage of marks. Based on it, students can prepare the questions from the syllabus.

After completing the syllabus, students can start solving the JAC Board Class 12 Model Papers 2025 listed on the official website of the Jharkhand Academic Council. To learn more about the paper structure and syllabus, check out more details related to the JAC Class 12 Economics Syllabus 2025.

JAC Class 12 Economics Syllabus 2024-25: PDF

The direct PDF for the syllabus will help the students understand the details of the units and chapters included in the syllabus. You can check out the direct PDF from the link given here and refer to it when planning out your studies for the board exams:

How To Download JAC Class 12 Economics Syllabus 2024-25?

The PDF of the syllabus will be uploaded on the official website of the Jharkhand Academic Council to be downloaded by the students. It is important to understand the topics that will be included in the JAC Class 12 Economics Paper 2024-25. Check these steps to download the PDF of the syllabus from the pointers given below:

• Step 1: Students must first have to visit the official website of Jharkhand Academic Council at https://jac.jharkhand.gov.in/jac/
• Step 2: On the homepage, click on the Others option present on the menu bar.
• Step 3: Click on "Others" and a drop-down menu will open, click on the Syllabus option.
• Step 4: A new page will open. Now, click on the "Click here to View Syllabus".
• Step 5: Download the syllabus in a PDF format and refer to it when preparing for the board exams.

JAC Class 12 Economics Syllabus 2024-25

Students can check out the major information about the units and the chapters that will be included in the JAC Class 12 Economics Syllabus 2024-25 from the table given below. Make sure that you complete the syllabus at the beginning of your academic year to get enough time for an effective revision using the model papers:

Part A: Introductory Macroeconomics
Unit 1: National Income and Related Aggregates	What is Macroeconomics? Key terms in macroeconomics include stocks and flows, gross investment, depreciation, capital goods, final goods, and intermediate goods. Circular flow of income (two-sector model); Methods of calculating National Income - Value Added or Product method, Expenditure method, Income method. Aggregates related to National Income: 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 2: Money and Banking	Money's definition and uses, as well as its supply, which include both public currency and commercial banks' net demand deposits. Money creation by the commercial banking system. Central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker's 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 3: Determination of Income and Employment	Demand aggregate and its constituents. Consumption and saving propensities (marginal and average). Output of short-run equilibrium; the investment multiplier and how it works. Definitions of involuntary unemployment and full employment.Problems of excess demand and deficient demand; measures to correct them - changes in government spending, taxes and money supply.
Unit 4: Government Budget and the Economy	Government budget - meaning, objectives and components. Classification of receipts - revenue receipts and capital receipts; Classification of expenditure – revenue expenditure and capital expenditure. Balanced, Surplus and Deficit Budget – measures of government deficit.
Unit 5: Balance of Payments	Meaning and components of the balance of payments account; balance of payments: surplus and deficit Foreign exchange rate refers to both controlled floating and set, flexible rates. In a free market, the exchange rate is determined, Advantages and disadvantages of fixed and flexible exchange rates. Managed Floating exchange rate system.
Part B: Indian Economic Development
Unit 6: Development Experience (1947-90) and Economic Reforms since 1991	An overview of the Indian economy just before independence, in brief. The Five Year Plans' shared objectives and the Indian economic structure. Principal characteristics, issues, and policies about industry (IPR 1956; SSI – role & importance), agriculture (institutional aspects and new agricultural strategy), and international commerce. Economic Reforms since 1991: Features and appraisals of liberalisation, globalisation and privatisation (LPG policy); Concepts of demonetization and GST
Unit 7: Current challenges facing Indian Economy	The development of human capital: how individuals are turned into resources; the function of human capital in economic growth; and the expansion of the Indian education sector. Key concerns in rural development include lending and marketing, the function of cooperatives, agricultural diversification, organic farming, and alternative farming. Employment: Issues and strategies; growth and shifts in the percentage of people employed in the official and informal sectors. Meaning and Consequences of Sustainable Economic Development. Global warming is one aspect of resource and environmental development.
Unit 8: Development Experience of India	A comparison with neighbours India and Pakistan India and China Issues: economic growth, population, sectoral development and other Human Development Indicators.

JAC Class 12 Economics Internal Assessment

Check the table below to understand the marking scheme followed by the Jharkhand board. Prepare the topics according to it. Give more attention to the topics with the high marks weightage.

Units	Marks
Introductory Macroeconomics
National Income and Related Aggregates	10
Money and Banking	6
Determination of Income and Employment	12
Government Budget and the Economy	6
Balance of Payments	6
Indian Economic Development
Development Experience (1947-90) and Economic Reforms since 1991	12
Current Challenges facing the Indian Economy	22
Development Experience of India – A Comparison with Neighbours	6
Project Work	20
Total	100

JAC Class 12 Economics Question Paper Design

The students should check out the exam pattern in advance to get an idea of the types of questions and marks allotted to them. Following are the details that will help students to know the marks allotted to questions in different sections.

• The question paper is divided into 2 parts - Part A (including MCQ-type questions) and Part B (including subjective-type questions).
• Part A has 40 Multiple choice questions worth 1 mark each. The student will have to attempt all questions and no negative marking will be done for wrong answers.
• Part B has 3 sections: A, B, and C. The Total Number of questions in this part is 19.
  • Questions 1 to 7 are very short answer-type questions each worth 2 marks
  • Questions 8 to 14 are short answer type questions each question carries 3 marks
  • Questions 15 to 19 are long answer-type questions each question carries 5 marks.

Also Read - JAC Class 12 Economics Exam Pattern 2025

JAC Class 12 Economics Books

The students can refer to the following books to prepare for the Economics syllabus. The books also contain questions based on the JAC Class 12 Economics syllabus. Solving the questions will also help the students to prepare for the exams.

• JAC New Pattern Economics Class 12 (Brilliant)
• Exam Scorer by Rajeev Bansal

JAC Class 12 Economics Preparation Tips 2025

Students can follow the tips given here to prepare for the JAC Class 12 Economics syllabus. It will become easier for them to perform well in the board exams.

• Students should make a study schedule and follow it to complete the syllabus.
• Revise the syllabus at least twice before the commencement of board exams.
• Solve questions related to the syllabus. They can download the JAC Class 12 previous year question papers and model papers.
• Prepare graphs and draw the related diagrams.
• Provide the relevant data and figures in answers. This will help in scoring good marks.
• Practice writing answers for all types of questions. This will also improve the speed and accuracy.

JAC Class 12 Economics Syllabus 2024-25 is listed here to be considered by the students who are appearing for the board exams. Students must make sure that they are completing the syllabus on time and referring to the model test papers listed on the official website of the Jharkhand Academic Council for revision.