Education

How to prepare for Class 12 Economics

Economics is a subject that is mandatory for class 12th commerce students and can be added as one of the main five for other streams’ students also. It is basically the study of the economy and its relation to the production and distribution of goods. Economics in CBSE syllabus is mainly divided into two parts, Microeconomics and Macroeconomics. The class 12th course of economics also contains many projects and activities. Here we will look at the points which will help you prepare for your class 12 economics exam.

Marks Distribution

CBSE has released the official syllabus for the latest term which includes the marks distribution that we will see below. Both the terms contain a project which carries 10 marks each and the other 40 marks will be evaluated in the theoretical exam at the end of the term.

  • TERM 1:
TOPIC MARKS
Money and Banking 6
Government budget and the economy 6
Balance of Payments 6
Development experience(1947-90) and Economic Reforms since 1991 12
Current challenges facing Indian Economy(Poverty, Human Capital formation, Rural Development) 10
  • TERM 2:
TOPIC MARKS
National Income and Related Aggregates 10
Determination of Income and Employment 12
Current Challenges facing Indian Economy (Employment, Infrastructure, Sustainable Economic development) 12
Development Experience of India – A comparison with neighbors 6

Important Books

The most important book for class 12 economics is the NCERT books as they are the ones referred to in the official syllabus released by CBSE. You can buy the NCERT books offline as well as online. There are also pdfs available like the Class 12th Economics NCERT Books.

Also, make sure to refer to the CBSE sample papers available on their official website. You can also use some extra books if you have covered the NCERT well enough. Some of our suggestions are Jain and Ohri for Microeconomics and Macroeconomics, APC Introductory Micro and Macro Economics (Question Answer Form), S Chand’s Microeconomics and Macroeconomics, Sandeep Garg (Dhanpat Rai Publications) books for Economics, or any other suggested by your teacher.

Just make sure to cover the NCERT in a good way and whichever book you chose study it properly instead of trying to study from multiple books.

Preparation Tips

  • Attend your lectures actively and make notes as they will help in revision. As there is a lot of content it will be difficult at the end to go through everything so you will find your notes help if you made them in a well-consolidated manner.
  • Keep the definitions of words related to the subject at your fingertips as that will help you get the more complex stuff comparatively easier.
  • Do not disrespect the subject. You might tend to ignore Economics while focusing on your other subjects but make sure to give it a particular amount of time regularly.
  • Keep giving mock tests. It does not matter if your syllabus is not complete you should keep giving mocks to get a sense of improvement in your preparation. Otherwise, you will feel like you are not improving at all and might give up.
  • Keep note of your syllabus. Do not dwell on a topic so much that months later you realize you have not even touched the other topics yet. We suggest making a pre-planned schedule to help keep track of your progress and to make sure that you are going to finish the syllabus on time.
  • Be an active reader of some historical economic texts or related news articles. This might not help improve your knowledge for the exam but it will enlighten an interest for the subject inside you.
  • Never keep doubt in your head. Always make sure to clear your doubts just in case they are asked in the exams so if you do not clear them,, you might regret it later.

Final Days Strategy Tips

  • Give as much time as physically possible to your preparation. Economics is a theoretical subject so it is possible that you do not do well in the exam even if your concepts are cleared but you do not remember the correct wordings to put them down on the paper. So studying in the end days make sure that your exam day memory is fresh and you can formulate sentences to explain the thoughts inside your head in a presentable way.
  • Use the 15 minutes of reading time smartly instead of wasting it. Make a small strategy on how you are going to attempt the paper in these 15 minutes. Giving a lot of mocks will help you master this trick.
  • Do not be shy to make rough graphs if you need them to figure out something. Many times students try doing this inside their heads and thus mess up eventually. Make a small rough graph in the rough space to make sure you are in sync with your thoughts.
  • Attempt the questions you are most confident in first. You can devise a particular order strategy comfortable to yourself in the mocks and follow the same one in the final exam.
  • Practice a lot of numericals in the final days as they comprise a lot of marks in the final exam. Make sure you are VERY comfortable with them and not wasting chunks of time in the calculations.

Conclusion

Diligently following the above tips will help you score a 90+ at the very least. You need to observe the syllabus correctly and make a schedule or timetable suitable to you and then start studying and practicing as much as possible. Try not to go out of the syllabus and remain inside the demographic of content from which the questions will be asked. Make sure to nail your final days’ preparation which will help you massively in scoring a wonderful score. Be consistent with your preparation and we surely believe that you will do well in your class 12 economics exam. We wish you the best of luck for your class 12 economics exam and again, make sure to follow the above tips and you will definitely do well.

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