Class 12 Economics
Class 12 Economics: NCERT Microeconomics and Macroeconomics
Quick answerClass 12 Economics uses two NCERT books with six chapters each: Introductory Microeconomics, on how consumers, firms and markets make choices, and Introductory Macroeconomics, on national income, money, the budget and trade. All 12 chapter pages are live, aligned to the 2026-27 syllabus year.
Reviewed and approved by Dr. Anamika ShrivastavaPublished Last updated
The two Class 12 books
Introductory Microeconomics (Part 1)
Six chapters on scarcity and choice, from the budget line to monopoly and oligopoly. See the Introductory Microeconomics book page.
- 1Read now
Introduction
Scarcity and choice, the production possibility frontier, planned and market economies, positive and normative economics.
- 2Read now
Theory of Consumer Behaviour
Budget line, indifference curves, the consumer's optimum, demand, market demand and price elasticity.
- 3Read now
Production and Costs
Production function, total, average and marginal product, returns to scale and cost curves.
- 4Read now
The Theory of the Firm under Perfect Competition
Revenue, profit maximisation, the firm's supply curve, shut-down point and elasticity of supply.
- 5Read now
Market Equilibrium
Demand and supply together, shifts, free entry and exit, wages, price ceilings and price floors.
- 6Read now
Non-Competitive Markets
Monopoly, monopolistic competition and how firms behave in oligopoly.
Introductory Macroeconomics (Part 2)
Six chapters on the whole economy, all available to read. See also the Introductory Macroeconomics book page.
- 1Read now
Introduction
Why macroeconomics emerged, the capitalist economy and its four sectors.
- 2Read now
National Income Accounting
Circular flow, value added, expenditure and income methods, GDP to national income, and GDP and welfare.
- 3Read now
Money and Banking
Functions and demand for money, M1 to M4, the money multiplier and RBI's tools.
- 4Read now
Income Determination
Aggregate demand, equilibrium output, the multiplier and the paradox of thrift.
- 5Read now
The Government: Functions and Scope
Public goods, the budget, revenue, fiscal and primary deficits, and fiscal policy.
- 6Read now
Open Economy Macroeconomics
Balance of payments, exchange rate systems and the open economy multiplier.
Class 12 Economics: common questions
What books are in Class 12 Economics?
Class 12 Economics uses two NCERT books: Introductory Microeconomics (Part 1) and Introductory Macroeconomics (Part 2). Each has six chapters, for 12 chapters in total.
Should I study microeconomics or macroeconomics first?
Most students start with microeconomics, because ideas such as demand, supply and equilibrium reappear in macroeconomics. If you are revising for an exam, begin with the book that carries more marks in your current CBSE pattern, then link the two.
Which Class 12 macroeconomics chapter has the most numericals?
National Income Accounting is the most numerical chapter: questions ask you to calculate GDP, national income and the GDP deflator from given data. Income Determination, with the multiplier, is the other chapter where practice with numbers matters most.
Do these pages replace the NCERT textbook?
No. The pages explain each chapter in different words and add examples and questions, but the NCERT textbook remains the official reference. Read the two side by side and check CBSE notices for the current syllabus.
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