Live Economics Classes for XII




This Course is designed by the ‘Kapil Dev Dhand’ Author of an e-Book “Economania-Story of
Economics” for Class XI and XII Economics Students of CBSE and ICSE
Course Contains Two Books ‘Micro Economics’ and ‘Macro Economics’. This course is developed by
the India’s Top Most Faculties and caters the need of Concept Clarity and High Scoring
Live Lectures are Beautifully designed in systematic sequence and in form of Questions and Answers
along with well designed illustration which make students fall in love with economics.
E-book along with QRT(Quick Revision Techniques) notes are provided with this course.
All the Live Lectures are also available for students 24×7 after the class so that students can revise
the class according to his own convenience.

Timing : 8pm to 9pm (Tuesday, Thursday, Saturday)

About Author-
Prof. Kapil Dev Dhand is an educationist and currently acting as Director- Delhi Institute of
Commerce Education, He has done his Graduation and Masters from Delhi University and in
teaching since 1996, He took Live sessions of Economics in “PATHSHALA” and “PRO-EDUCATION”.
He is an Author and wrote “Economania-Story of Economics” and conducted lots of workshops on
economics. He Created lots of technique to teach Accountancy which is followed by many teachers
For Example “R.A.T” is one of the Technique he developed to teach Partnership of class XII ,that was
later used as a model for many schools . R.A.T is an interactive experience for students to make
“Partnership” more Easy and Enjoyable.
Under his guidance “Delhi Institute of Commerce Education” twice received award of “Best
Commerce Institute in Delhi” by Dr Shashi Tharoor and Renowned Author Chetan Bhagat.
Kapil sir guided numerous students to unlock their potential and to realise their dream and helps
them to score “Perfect 100”. He believes that “Enjoyment is the Key to Success” and his students
starts enjoying studies.

Class  Part A: Introductory Microeconomics Part B: Introductory Macroeconomics
XII Unit 1: Introduction
Unit 2: Consumer’s Equilibrium and Demand
Unit 3: Producer Behaviour and Supply
Forms of Market and Price Determination
Unit 5:National Income and Related Aggregates
Unit 6: Money and Banking
Unit 7: Determination of Income and Employment
Unit 8: Government Budget and the Economy
Unit 9: Balance of Payments

Part A: Introductory Microeconomics
Unit 1: Introduction
Meaning of microeconomics and macroeconomics; positive and normative economics
What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of production possibility frontier and opportunity cost.

Unit 2: Consumer’s Equilibrium and Demand
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) and conditions of consumer’s equilibrium.
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.

Unit 3: Producer Behaviour and Supply
Meaning of Production Function – Short-Run and Long-Run
Total Product, Average Product, and Marginal Product.
Returns to a Factor
Cost: 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 relationships.
Revenue – total, average and marginal revenue – meaning and their relationship.
Producer’s equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost. 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.

Unit 4: Forms of Market and Price Determination under Perfect Competition with simple applications.
Perfect competition – Features; Determination of market equilibrium and effects of shifts in demand and supply.
Other Market Forms – monopoly, monopolistic competition, oligopoly – their meaning and features.
Simple Applications of Demand and Supply: Price ceiling, price floor.

Part B: Introductory Macroeconomics

Unit 5: National Income and Related Aggregates
Some basic concepts: consumption goods, capital goods, final goods, intermediate goods; stocks and
flows; gross investment and depreciation.
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 and Net Domestic Product (GDP and NDP) – at market price, at factor cost; Real and Nominal
GDP and Welfare
Unit 6: Money and Banking
Money – meaning and supply of money – Currency held by the public and 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): Bank of issue, Govt. Bank,
Banker's Bank, Control of Credit through Bank Rate, CRR, SLR, Repo Rate and Reverse Repo Rate,
Open Market Operations, Margin requirement.
Unit 7: Determination of 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 – changes in government spending, taxes and money supply.

Unit 8: 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.
Measures of government deficit – revenue deficit, fiscal deficit, primary deficit their meaning.
Unit 9: Balance of Payments
Balance of payments account – meaning and components; balance of payments deficit-meaning.
Foreign exchange rate – meaning of fixed and flexible rates and managed floating. Determination of
exchange rate in a free market.

Course Features

  • Lectures 0
  • Quizzes 0
  • Skill level Beginner
  • Language English
  • Students 0
  • Assessments Yes