The NIOS (National Institute of Open Schooling) Class 12 Economics textbook is designed to help students understand various aspects of the Indian and global economy. The subject is primarily divided into two parts:
Part 1: Microeconomics
This section focuses on individual economic units such as households and firms. Key topics include:
Introduction to Microeconomics: Understanding basic concepts and the scope of microeconomics.
Consumer Behavior: Studying how consumers make choices based on their preferences and budget constraints.
Demand and Supply: Examining the laws of demand and supply, market equilibrium, and price determination.
Production and Costs: Exploring how firms produce goods and services, including concepts of production functions, costs, and revenue.
Market Structures: Analyzing different types of market structures like perfect competition, monopoly, monopolistic competition, and oligopoly.
Price Determination: Understanding how prices are determined in different market conditions.
Part 2: Macroeconomics
This section deals with the economy as a whole. Key topics include:
Introduction to Macroeconomics: Basic concepts and the scope of macroeconomics.
National Income Accounting: Methods of measuring national income and related aggregates.
Money and Banking: Functions of money, the role of commercial banks, and the central bank in the economy.
Income Determination: Theories of income and employment, including Keynesian theory.
Government Budget and the Economy: Understanding government budgets, fiscal policy, and public finance.
Balance of Payments: Studying the structure of the balance of payments and foreign exchange markets.
Economic Reforms in India: Discussing economic reforms introduced in India since 1991 and their impact on various sectors.
The NIOS Economics curriculum aims to provide a comprehensive understanding of both theoretical and practical aspects of economics, preparing students for higher education and competitive exams.