* Based on New NCERT Textbook 2019-20 * According to the new examination pattern * Greater emphasis on 1 mark questions than before. Questions spread over the entire chapter include : ---> Multiple Choice Questions ---> Fill in the Blanks ---> Match the Following ---> True and False ---> Very Short Answer Type Questions * All topics have been thoroughly revised and updated with the latest available data on the subject. * Covers the recent schemes/programs undertaken by the Government of India in the relevant chapters. Some of the recent schemes include : Make in India, Mudra Yojana, Swachh Bharat Mission, Ayushman Bharat etc. * Important facts and events (data) of each chapter are summerised at one place. This will enable the students to learn only important data. * Additional coverage at the end consists of ---> Value Based Questions ---> Chapter-wise 1 Mark Questions

A Text book on Economics

Introductory Macroeconomics deals with the examination of the amount of economic activity and employment in the economy as a whole. Introductory Macroeconomics focuses at the key elements, such as the impact of national and international commerce, that affect the overall levels of output and employment in the economy. This methodology offers a deeper investigation of inflation, unemployment, and economic policy as well as an inquiry of money, interest rates, and financial markets. N It is expected that readers who complete this lesson have some background in mathematics. This book's prime focus is on the fundamentals of macroeconomics and public policy. Production and employment levels, inflation, prices, the exchange rate, interest rates, monetary and fiscal policies, the balance of payments, and economic growth are only some of the economic aggregates that will be discussed. The focus of this analysis is on the most pressing challenges and policy questions facing the macroeconomy today.

The thoroughly revised and updated edition of the book entitled ‘A-One Introductory Macroeconomics’ for examinations to be held in 2021and onwards. Distinct features of the Book ● Strictly designed according to the new examination pattern introduced by the C.B.S.E. ● Question-Answer Section has been re-designed and enriched. ● The number of numericals both solved and unsolved has been raised. ● A well designed chapter-wise summary under the heading ‘Key Points For Quick Revision’ has been provided. ● More Value Based Questions and Multidisciplinary Questions are given at end of the book.

Introductory Macroeconomics, Second Edition deals with national economic issues, such as unemployment, inflation, the aggregate demand-aggregate supply model of macroeconomics, government economic policy, exchange, rates, international trade, and finance. The book examines national economic problems, economic goals, the role markets play in the economy, price control, unemployment, and inflation. By using the Phillips curve trade-off, the text notes that inflation increases the demand for labor. In the long term, according to the long-run Phillips curve, increased inflation does not actually lessen unemployment levels (known as the natural unemployment rate hypothesis). The text also examines whether minimum wage laws are necessary (to fight poverty, prevent exploitation) or cause poverty (in which the imposition of minimum wage results in lower demand for unskilled labor). The book notes that politics and unions favor minimum wage laws. The poor, uneducated, and unskilled laborers are left out. The text also tackles goals and trade-offs: for example, that economic growth suffers from both inflation and unemployment, or the trade-off that preventing unemployment only results in worse inflation problems. Economists, sociologists, professors in economics, or policy makers involved in economic and social development will find the text valuable.

Restructured and revised in sync with the revised syllabus & updated guidelines by the CBSE board. A gist of major modifications: Brain Teaser blocks to test logical clarity and implication based learning. Test Your Understanding blocks to promote application, analysis & evaluation of concepts. Basic Numericals following hand-holding approach for budding economists. Categorisation & sub-classification of numericals for easy identification of nature of problem. HOTS: Each chapter is splashed with HOTS to promote clarity of the basics and provide some food for thought to the avid readers. ‘Did You Know’ blocks are provided in each chapter to highlight the significance of core concepts. Wide variety of questions: A wide variety of questions patterned along the CBSE released Sample Question Paper (2023) have been incorporated in each Chapter. The category of questions incorporated are: Competency-Based Learning: Objective Questions: Multiple Choice Questions Fill in the Blanks True-False alternatives Choose the Correct Pair of Statements/Identify the Correct Sequence of Alternatives One Liners: Answer with Reason Competency Based Learning: Data/Picture Based & Case-Study Based Questions Data/Picture Based Questions, Case-Study Based Questions Competency Based Learning: Descriptive Questions: Very Short Answer Type Questions HOTS & applications Analysis & Evaluation NCERT questions (with hints to answers) Miscellaneous Questions and Reference to the Text for Answers Solved Numericals Unsolved Numericals We have also added sample projects patterned along the latest CBSE format for the reference of the students. Sample Paper by “VK Global Study Group” based on the specimen paper woven along the same structure and blueprint as suggested in the CBSE released Sample Question Paper-2023 has been included. Harmony and Synchronisation: To maintain clarity of thought; the information in our book has been compiled and presented in a step by step manner so that students are able to comprehend things better. Comprehensive and elucidative tabular and diagrammatic presentation via flow charts etc. have been done wherever necessary.

1. Macro Economics : Meaning, 2. Circular Flow of Income, 3.Concepts and Aggregates related to Nationa Income, 4. Measurement of National Income, 5. Money : Meaning, Evolution and Functions, 6. Commercial Banking System and Credit Creation, 7. Central Bank : Meaning and Functions, 8. Recent Significant Reforms and Issues in Indian Banking System : Privatisation and Modernisation, 9. Aggregate Demand, Aggregate Supply and Related Concepts (Propensity to Consume, Propensity to Save and Investment), 10. Short Run Equilibrium Output, 11. Investment Multiplier and its Mechanism, 12. Problems of Deficient and Excess Demand, 13. Measures to Correct Deficient and Excess Demand, 14. Gvoernment Budget and Economy, 15. Balance of Payment Accounts : Meaning and Components, 16. Foreign Exchange Rate Project Report Examination Question Paper SYLLABUS Part A : Introductory Macroeconomics, Unit 1 : National Income and Related Aggregates Unit 2 : Money and Banking Unit 3 : Determination of Income and Employment Unit 4 : Government Budget and the Economy Unit 5 : Balance of Payments Part B : Indian Economic Development Unit 6 : Development Experience (1947-90) and Economic Reforms Since 1991 : Unit 7 : Current Challenges Facing Indian Economy Unit 8 : Development Experience of India PART C : Project in Economics

NCERT Class 12 Introductory Macroeconomics Summary Notes