UP Board Class 12 Economics Syllabus 2026-27: Chapters & Marks

The UP Board Class 12 Economics Syllabus 2026-27 is prescribed by the Uttar Pradesh Madhyamik Shiksha Parishad (UPMSP). The syllabus covers both Microeconomics and Macroeconomics, including consumer behaviour, demand and supply, production, national income, money and banking, income and employment, government budget and balance of payments.

As per the latest UPMSP syllabus for the 2026-27 academic session, Class 12 Economics has 9 units and the complete paper carries 100 marks. Students can check the unit-wise syllabus, important topics and marks distribution below.

UP Board Class 12 Economics Marks Distribution 2026-27

The official UPMSP syllabus is divided into two sections: Introductory Microeconomics and Introductory Macroeconomics. Each section carries 50 marks.

Part A: Introductory Microeconomics

Part B: Introductory Macroeconomics

Total Economics Marks: 100

UP Board Class 12 Economics Syllabus Part A: Microeconomics

Part A of the syllabus covers Introductory Microeconomics and includes Units 1 to 4.

Unit 1: Introduction

This unit introduces students to the basic concepts of microeconomics and the central problems of an economy.

Topics include:

• Microeconomics and Macroeconomics
• Meaning of economics
• Positive economics
• Normative economics
• What is an economy?
• Central problems of an economy
• What, how and for whom to produce
• Production possibility curve
• Opportunity cost
• Basic economic problems

Marks: 4

Unit 2: Consumer Equilibrium and Demand

This unit covers consumer behaviour, utility, consumer equilibrium, demand and price elasticity of demand.

Topics include:

• Consumer equilibrium
• Meaning of utility
• Marginal utility
• Law of diminishing marginal utility
• Consumer equilibrium using marginal utility analysis
• Consumer equilibrium through indifference curve analysis
• Budget set
• Budget line
• Consumer preferences
• Indifference curve
• Consumer equilibrium using indifference curve analysis
• Demand
• Market demand
• Determinants of demand
• Demand schedule
• Demand curve
• Movements along the demand curve
• Shift in the demand curve
• Price elasticity of demand
• Factors affecting price elasticity of demand
• Measurement of price elasticity of demand
• Percentage change method

Marks: 18

Unit 3: Producer Behaviour and Supply

This unit focuses on production, costs, revenue, producer equilibrium and supply.

Topics include:

• Production and production function
• Short-run and long-run production
• Total product
• Average product
• Marginal product
• Cost concepts
• Fixed cost
• Total fixed cost
• Variable cost
• Total variable cost
• Total cost
• Average fixed cost
• Average variable cost
• Average cost
• Marginal cost
• Relationship between different cost curves
• Revenue
• Total revenue
• Average revenue
• Marginal revenue
• Relationship between average and marginal revenue
• Producer equilibrium
• Meaning of supply
• Market supply
• Determinants of supply
• Supply schedule
• Supply curve
• Movements along the supply curve
• Shift in the supply curve
• Price elasticity of supply
• Measurement of price elasticity of supply
• Percentage change method

Marks: 18

Unit 4: Forms of Market and Price Determination under Perfect Competition

This unit covers market structures and price determination under perfect competition.

Topics include:

• Perfect competition
• Features of perfect competition
• Market equilibrium
• Determination of equilibrium price
• Effect of changes in demand and supply on equilibrium price
• Price ceiling
• Price floor
• Minimum price
• Simple applications of demand and supply

Marks: 10

UP Board Class 12 Economics Syllabus Part B: Macroeconomics

Part B covers Introductory Macroeconomics and includes Units 5 to 9.

Unit 5: National Income and Related Aggregates

This unit introduces national income accounting and related concepts.

Topics include:

• National income
• Basic concepts related to national income
• Consumer goods
• Capital goods
• Final goods
• Intermediate goods
• Stock and flow
• Gross investment
• Depreciation
• Circular flow of income
• Two-sector model
• Methods of calculating national income
• Product method
• Income method
• Expenditure method
• National income aggregates
• Gross National Product at market price
• Net National Product
• Gross Domestic Product
• Net Domestic Product
• GDP at market price
• GDP at factor cost
• Real and nominal GDP
• GDP and welfare

Marks: 12

Unit 6: Money and Banking

This unit explains the concept of money, banking and monetary control.

Topics include:

• Meaning of money
• Supply of money
• Money and commercial banks
• Money creation by commercial banks
• Central bank
• Functions of the central bank
• Reserve Bank of India as an example
• Bank rate
• Cash reserve ratio
• Statutory liquidity ratio
• Repo rate
• Reverse repo rate
• Open market operations
• Margin requirement
• Control of money supply
• Monetary policy tools

Marks: 8

Unit 7: Determination of Income and Employment

This unit covers aggregate demand, consumption, saving, investment and employment.

Topics include:

• Aggregate demand
• Components of aggregate demand
• Consumption function
• Average propensity to consume
• Marginal propensity to consume
• Saving function
• Average propensity to save
• Marginal propensity to save
• Short-run fixed-price equilibrium
• Total output and aggregate demand
• Full employment
• Involuntary unemployment
• Excess demand
• Deficient demand
• Measures to correct excess demand
• Measures to correct deficient demand
• Changes in government expenditure
• Taxation
• Money supply

Marks: 14

Unit 8: Government Budget and Economy

This unit focuses on government budgets, receipts, expenditure and fiscal deficits.

Topics include:

• Government budget
• Meaning of government budget
• Objectives of government budget
• Components of government budget
• Government receipts
• Revenue receipts
• Capital receipts
• Government expenditure
• Revenue expenditure
• Capital expenditure
• Revenue deficit
• Fiscal deficit
• Primary deficit
• Meaning and implications of government deficits

Marks: 8

Unit 9: Balance of Payments

This unit covers the balance of payments and foreign exchange.

Topics include:

• Balance of payments account
• Meaning of balance of payments
• Components of balance of payments
• Balance of payments deficit
• Foreign exchange
• Meaning of foreign exchange rate
• Fixed exchange rate
• Flexible exchange rate
• Managed floating exchange rate
• Determination of exchange rate
• Foreign exchange market
• Basic concepts related to exchange rate

Marks: 8

UP Board Class 12 Economics Unit Tests 2026-27

The official UPMSP Economics syllabus also specifies four unit tests under formative education. These tests are conducted at the school level, and their marks are not included in the examination result.

For the first unit test, the official syllabus specifies 10 marks for summer vacation homework and 10 marks for the unit test.

How to Prepare for UP Board Class 12 Economics 2026-27

Students can follow these strategies to prepare Economics effectively:

1. Understand both sections: Divide your preparation between Microeconomics and Macroeconomics.
2. Focus on high-weightage units: Consumer Equilibrium and Demand and Producer Behaviour and Supply each carry 18 marks.
3. Practise numerical questions: Regularly practise elasticity, national income, cost, revenue and related numerical problems.
4. Understand graphs and concepts: Pay attention to demand, supply, cost, revenue and equilibrium diagrams.
5. Revise definitions: Maintain short notes for important economic concepts and terms.
6. Practise answer writing: Write answers in a structured manner with appropriate diagrams wherever required.
7. Solve previous questions: Practise questions based on the prescribed syllabus to improve speed and accuracy.
8. Revise regularly: Revisit completed units to retain important concepts and formulas.

UP Board Class 12 Economics Syllabus 2026-27: Key Highlights

• The latest UPMSP Economics syllabus is for the 2026-27 academic session.
• Economics carries 100 marks.
• The syllabus has 9 units.
• Microeconomics carries 50 marks.
• Macroeconomics carries 50 marks.
• Consumer Equilibrium and Demand carries 18 marks.
• Producer Behaviour and Supply carries 18 marks.
• Determination of Income and Employment carries 14 marks.
• National Income and Related Aggregates carries 12 marks.
• Money and Banking, Government Budget and Economy, and Balance of Payments carry 8 marks each.
• Four school-level unit tests are specified under formative education. Their marks are not included in the examination result.