The curriculum for Economics Class 12 typically covers a broad range of topics divided into two main sections: Microeconomics and Macroeconomics. Below is a general outline of the topics covered in each section. Please note that the specific content and organization can vary depending on the educational board (e.g., CBSE, ICSE, state boards in India, or international curricula like IB or A-Level).

Microeconomics

1. Introduction to Microeconomics
   • Understanding Economics as a discipline
   • Microeconomics and Macroeconomics
2. Theory of Consumer Behavior
   • Utility analysis: Total and Marginal Utility
   • Law of Diminishing Marginal Utility
   • Budget constraint
   • Consumer’s equilibrium: Utility maximization and Indifference curve analysis
3. Theory of Demand and Supply
   • Demand, supply, and market equilibrium
   • Elasticity of demand and supply
   • Applications of elasticity in real-world scenarios
4. Production and Costs
   • Concept of production function
   • Short-run and long-run costs
   • Law of Variable Proportions and Returns to Scale
5. Market Structures
   • Forms of market: Perfect competition, Monopoly, Monopolistic competition, and Oligopoly
   • Price and output determination under different market forms
   • Efficiency and welfare implications

Macroeconomics

1. Introduction to Macroeconomics
   • Basic concepts in Macroeconomics: GDP, GNP, NDP, NNP, etc.
   • Circular flow of income
2. National Income Accounting
   • Methods of measuring National Income
   • Real and Nominal GDP
   • GDP Deflator and CPI
3. Money and Banking
   • Functions of money
   • Supply of money
   • Banking system and the role of central banks
4. Income Determination
   • Aggregate demand and aggregate supply
   • Determinants of aggregate demand
   • Concepts of multiplier and accelerator
5. Government Budget and the Economy
   • Government budget: Components and objectives
   • Fiscal policy and its impact on the economy
6. Open Economy Macroeconomics
   • Balance of payments
   • Foreign exchange rate determination
   • Trade policies

This curriculum is designed to provide students with a solid foundation in economic theory and its applications, preparing them for further education in economics or related fields, as well as for informed citizenship.