Understanding I.S.C. Economics Class- XII

It is an introductory textbook in economics especially prepared for the students of Class XII based on the latest syllabus of the Indian School Certificate (I.S.C.) examination.

Though the book is primarily written for the students, I am confident that it will prove equally useful for the general readers also.

The entire subject-matter has been divided into four units. Unit-I begins with the general introduction to micro economic theory. Unit-II explains the concept and methods of measurement of national income. Unit-III deals with the theory of international trade and balance of payments. And the last unit (i.e., Unit-IV) examines the various aspects of public finance¾public revenue, public expenditure, public expenditure, public debt, fiscal policy, deficit financing and the budget.

No originality can be claimed in writing a textbook like this. Hence, the stress throughout the book has been on the clear exposition of the subject in hand. Due care has been taken in lucid linguistic presentation and intelligible graphical analysis. Special attention has been given to make the meaning of economic terms and concepts understandable to the beginners with the help of various examples.

Hints for revision are given towards the end of each chapter which will serve as class-noted to the teachers and will help the students to review and recollect their understanding. Appended to each chapter is a representative selection of questions on its subject-matter. These will serve both as tests of the student’s understanding of the subject-matter and as indication of the types of questions they are likely to face in the examination room.