PSEB 12th Class Economics Book Solutions Guide in Punjabi English Medium

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Punjab State Board Syllabus PSEB 12th Class Economics Book Solutions Guide Pdf in English Medium and Punjabi Medium are part of PSEB Solutions for Class 12.

PSEB 12th Class Economics Guide | Economics Guide for Class 12 PSEB

Economics Guide for Class 12 PSEB | PSEB 12th Class Economics Book Solutions

PSEB 12th Class Economics Book Solutions in Hindi Medium

PSEB 12th Class Economics Book Solutions: Punjab Economy

PSEB 12th Class Economics Book Solutions in English Medium

  • Chapter 1 Macro Economics
  • Chapter 2 Basic Concepts in Macro Economics
  • Chapter 3 Circular Flow of Income
  • Chapter 4 Concepts of National Income
  • Chapter 5 Measurement of National Income
  • Chapter 6 Money, Supply of Money and Functions
  • Chapter 7 Banking
  • Chapter 8 Aggregate Demand
  • Chapter 9 Propensity to Consume and Propensity to Save
  • Chapter 10 Determination of Income and Employment
  • Chapter 11 Investment Multiplier
  • Chapter 12 Problems of Excess and Deficient Demand
  • Chapter 13 Measures to Correct Deficient and Excess Demand
  • Chapter 14 Government Budget and the Economy
  • Chapter 15 Balance of Payments
  • Chapter 16 Foreign Exchange Rate
  • Chapter 17 Indian Economy on the Eve of Independence
  • Chapter 18 Objectives of Economic Planning
  • Chapter 19 Agriculture in India
  • Chapter 20 Industrial Development Policy and Licensing in India
  • Chapter 21 Economic Reforms since 1991 or New Economic Policy
  • Chapter 22 Problem of Poverty
  • Chapter 23 Rural Credit
  • Chapter 24 Marketing of Agricultural Produce
  • Chapter 25 Co-operatives, Diversification in Agriculture and Organic Farming
  • Chapter 26 Role of Human Capital in Economic Development
  • Chapter 27 Education, Health and Unemployment in India
  • Chapter 28 Infrastructure and Energy
  • Chapter 29 Sustainable Economic development, Effect of Economic Development on Environment and Global Warming
  • Chapter 30 Correlation
  • Chapter 31 Index Numbers

Punjab Economy

  • Chapter 32 Man Power and Physical Resources of Punjab
  • Chapter 33 Agriculture Development of Punjab Since 1966
  • Chapter 35 Industrial Development of Punjab Since 1966
  • Chapter 35 Financial Position of Punjab Government

PSEB 12th Class Economics Syllabus

Class – XII (PB.)
Economics
Time Allowed: 3 Hours

Theory: 80 Marks
Internal Assessment: 20 Marks
Marks Total: 100 Marks

Part – A
Introductory Macro Economics

Unit 1 National Income and Related Aggregates
What is Macro Economics? Classical and Keynesian views about Macro Economics. Scope, Importance, and Limitations of Macro Economics. Concept of Equilibrium: Partial Equilibrium and General Equilibrium. Basic concepts in Macro Economics: consumption goods, capital goods, final goods, intermediate goods, stock and flow variables, etc. Circular flow of income and output (two-sector economy model). Real flow and Monetary flow. Concept of Injections and withdrawals in Circular flow of Income and Output. Aggregates related to National Income: Gross National Product (GNP), Net National Product (NNP), Gross and Net Domestic Product (GDP and NDP) – at market price, at factor cost. Methods of calculating National Income – Value Added or Product method, Expenditure method, Income method with numerical questions.

Unit 2 Determination of Income and Employment
Aggregate Demand-Aggregate Supply and their components. Consumption function, Saving function, Investment function. Propensity to consume and propensity to save (average and marginal). Short-run equilibrium output. Meaning full employment and involuntary unemployment. Investment multiplier and its mechanism. Problems of excess demand and deficient demand. Measures to correct excess and deficient demand through Monetary and Fiscal policies of the government along with the instruments of monetary and fiscal policies.

Unit 3 Money and Banking
Money – Barter System of Exchange: Meaning and Limitations. Money: Meaning, Importance, and Functions of Money. Concept of Supply of Money and its measurement.
Banking: Meaning and Functions of Commercial Banks. Meaning and functions of Central bank (example of the Reserve Bank of India). Control of Credit by Central Bank through quantitative and qualitative measures.

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. Financial Position of Punjab Government. Measures of government deficit – revenue deficit. fiscal deficit, primary deficit their meaning,

Unit 5 Foreign Exchange Rate and Balance of Payments
Foreign exchange rate – Meaning of fixed and flexible rates and methods of their determination along with their advantages and limitations. Foreign Exchange market – Meaning and Functions. Balance of Payments – Meaning and components. Various types of accounts in Balance of Payment. The deficit in Balance of Payment: Meaning and measures to correct it.

Part – B
Indian Economic Development

Unit 6 Development Experience (1947-90) and Economic Reforms Since 1991
A brief introduction of the state of the Indian economy on the eve of independence. Five Year Plans and NITI Aayog; the rationale behind the adoption of five years economic plans, common goals of five-year economic plans with their success and failures. NITI AAYOG; A brief introduction, structure, and it’s working. Agriculture: Meaning, Importance, main features, problems and policies of agriculture (institutional aspects and new agricultural strategy), Agriculture Development of Punjab since 1966. Industry: Meaning, Importance, problems, and policies for industrial development industrial licensing, etc.), Industrial Development of Punjab since 1966. Economic Reforms since 1991: Features of Liberalisation, Globalisation, and Privatisation (LPG policy)

Unit 7 Current challenges Faced by the Indian Economy
Poverty – absolute and relative. Causes of Poverty and main programmes for poverty alleviation: A critical assessment.
Unemployment: Meaning, types, and causes. Main programmes for the solution of the problem of unemployment in India.
Rural development: Key issues – credit and marketing – the role of cooperatives; agricultural diversification; organic farming.
Human Capital Formation: How people become resources; Role of human capital in economic development; Growth of Education Sector in India. Manpower Resources of Punjab.
Infrastructure: Meaning and Types; Energy and Health; Problems and Policies; A critical assessment. Physical Resources of Punjab.
Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming.

Part – C
Statistics in Economics

Unit 8 Correlation and Index Numbers
Coefficient of Correlation – meaning and properties. Methods for the measurement of coefficient of correlation: scatter diagram method, Karl Pearson’s method (only by direct method) (two variables ungrouped data) Spearman’s rank correlation (in case of untied ranks only).
Index Numbers – Meaning, methods of constructing; Unweighted Index (Simple aggregative and simple average of price relative method). Weighted Index Numbers (Weighted aggregative methods including only Laspeyre’s, Pasche’s, and Fisher’s Index Numbers). Wholesale price index, Consumer price index, and index of industrial production. Uses of index numbers: Inflation and index numbers.

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