How to Study Economics for Class 12: Score-boosting tips & strategies

Overview: You can easily score 80/80 in the Economics theory exam if you plan your preparation correctly. Get insights into 'How to Study Economics for Class 12' by discovering short tricks, important questions, and preparation tips in the article. 

The CBSE class, 12th Economics subject, has 80 marks for theory and 20 marks for project. As you learn how to study Economics for Class 12, you must remember that: 

• A balanced study plan is a must to prepare each part thoroughly. 
• Learning short tricks and important topics to save time and improve speed is an add-on. 

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How to Study Economics for Class 12? 

Before preparing, you should check the detailed Class 12 Economics Syllabus. This will help you understand the important topics to score good marks in the exam.
Class 12th Economics is divided into two parts. They are:

• Introductory Macroeconomics
• Indian Economic Development

While learning how to study Economics for Class 12, it is essential to divide your time for each part. Your study schedule should take a balanced approach to both parts. 

1. Thoroughly understand the core concepts and theories in the economics syllabus. Focus on developing a solid conceptual understanding rather than only learning.
2. Work on your writing skills to ensure your answers are well-structured and concise, and answer all parts of the question.
3. Regularly revise through your notes, focusing on key definitions, formulas, and significant case studies.
4. Attend doubt-clearing sessions or seek guidance from subject matter experts to clarify any doubts or gaps in your understanding.
5. Prepare a timetable that covers all the concepts as per the latest syllabus.
6. Collect required study material and books that include many examples and straightforward explanations.
7. Solve mock exams to ensure you can complete the paper within the allocated time.
8. Solve Class 12 Economics Sample Papers to know the paper's difficulty level and the type of questions asked in the exam.

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How to prepare for Economics class 12? 

You must first focus on studying the high-weightage or important topics while preparing for the Economics board exam.

The important topics per the expert's analysis and trends for previous years' papers that you must prepare for the upcoming exam are: 

Introductory Macroeconomics	Indian Economic Development
Basic concepts in macroeconomics	Economic Reforms since 1991
Aggregates related to National Income	Goals of Five-Year Plans
Methods of calculating National Income	Human Capital Formation & Employment
Aggregate demand and its components	Sustainable Economic Development:
Government Budget and the Economy	Development Experience of India: A Comparison with Pakistan & China
Balance of payments- Surplus & Deficit	Economic Issues: growth, population, sectoral development
Forms of Market and Price Determination	Human Development Indicators

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How to learn Economics class 12? 

As you learn how to study Economics for Class 12, short tricks can help you understand and recall formulas, concepts and definitions. These tricks to score 90+ marks in class 12 Economics exam are: 

1. Connect economic theories with real-world examples. For instance, to understand demand, consider how your desire for a new phone changes with price.
2. Create catchy phrases or Mnemonics to remember lists or steps. For example, to recognise the factors affecting demand (Price, Income, Taste, etc.), use the acronym "PITT".
3. Create mental images or diagrams to represent complex ideas. For example, a circular flow model can be drawn to understand the economy's flow of goods and money.
4. Connect related ideas visually through mind maps.
5. Break into smaller parts if a formula seems complex.
6. Summarize essential formulas into an Excel sheet for quick reference.

How to Score Well in CBSE Class 12 Economics Exam?

You can follow the simple tips below while preparing for class 12 economics. These tips will help you better plan your preparation.

• Firstly, go through the exam pattern and syllabus for class 12 Economics, in and out. 
• Avoid mugging up definitions and formulas. Instead, understand each concept properly and use logic and reasoning.
• Make sure to practice drawing graphs regularly, as this will help you draw the correct shapes of various curves in the exam.
• Avoid writing answers in paragraphs. Write answers in points to fetch more marks.
• Practice as many numeric and application-based questions as possible from books and papers from previous years.
• Prepare your notes for each chapter, including definitions, important points, formulas, and relationships between different economic variables.
• Mark the important points with different-coloured pens while making the notes, which will help during your revision time.
• Solve at least the last ten previous-year question papers, as this will help improve your time management skills, speed, and accuracy.

Unlock sample papers for Economics (Class 12th) right away!

Expected Questions from Class 12 Economics Syllabus

As you learn how to study Economics for Class 12, these expected questions for class 12 economics can help you determine what type of questions will be asked in the exam.

1. "Infrastructure contributes to the economic growth of the country”. Do you agree? Explain with reason.
2. Write the difference between the formal sector and the informal sector of employment.
3. What are the steps needed for sustainable development in India?
4. Briefly explain India and its neighbours' common strategies for their respective development paths.
5. What are the main impacts on India’s agriculture and industrial sector during the colonial period?
6. Why and how is the private sector regulated under IPR 1956?
7. Why were economic reforms introduced in 1991?
8. Define poverty and explain the different causes of poverty.
9. Define human capital and how it differs from human capital and development.
10. Rate of economic growth and consumption of Energy are directly related”. Comment.
11. Do you think outsourcing is good for India, and why are developing countries opposing it?
12. Explain three-dimensional attacks on poverty adopted by India.
13. What are the major factors responsible for the growth of the service sector in India?
14. What will the impact of GST and demonetization be on the Indian economy?
15. Explain growth and Equity as a planning objective.

Preparing for CUET & boards together? Check prep tips here!  

Key Takeaways

In your journey of how to study Economics for Class 12, keep in mind to:

• Finish the entire syllabus. During preparation, go over every topic again and practice answering every kind of question.
• Start by reviewing all the topics with the highest weightage and those that are shorter and require less time to complete.
• Make sure your notes are concise and simple to read.
• Give each section the appropriate amount of time.
• Ask instructors or classmates for clarification on any doubts you may have.