Economics is a branch of social science and has a great influence on society. It is one of the fast-changing fields and needs a deeper study of economic trends that influence the financial stability of a country. In senior secondary education, basics are covered whereas learning advanced concepts helps you to have strong fundamentals on the subject and prepares for higher-level education.
In addition to the theoretical aspects of the subject, one needs to learn practical concepts such as case studies, being aware of current economic trends in various countries, etc. Economics Project of Class 12 existing will assist you to understand What an Economic Project for Class 12 looks like. You can find answers to all your questions regarding the Class 12 Economics Project Topics. If you are looking for help on Economics Project for Class 12 continue reading the article till the end.
- More Topics for Economics Project of Class 12 Students
- Economics Project for Class 12 Descriptions
- Economics Projects Guidelines
- What are the Project Topics in Economics?
- How can I make a Class 12 Economics Project?
- Where do I get the 12th Std Economics Project Ideas for free?
Best Topics for Economics Project for Class 12
Class 12 Economics Project plays a crucial role in students’ life. Certain Students might feel nervous about what to prepare for the project. Uncertainty of how to achieve Project work will always lead to imitating of the project from peers. It is a general issue and students feel the project a burden at the beginning of the project itself. If you are one of them don’t panic and utilize the Best Economic Project Ideas for Class 12 Students.
Economics is a vast subject and has numerous topics to choose from for a project. However, choosing a topic for your Economics Project can be a hectic task. Class 12th Economics Project is designed to dive deeper into the application part of the subject. Have a glance at the below-listed Topics to learn about various Economics Project Ideas for the 12th Class.
- Tax Reforms
- Price Determination
- Cost Function and Cost Curve
- Credit Creation
- Impact of Macroeconomic Variables on Values of Currencies
- Production Possibility Curve
- Demonetization in India
- Monopolistic Competition
- Price Discrimination
- The Central Bank and its Functions
- Opportunity Cost
- Banking Sector Reforms
- Budget Deficit
- Supply and its Determinants
- Import Substitution vs Export Promotion
- Demand and its Determinants
- Production – Returns to a Factor
- Balance of Payment
- Digital India Movement in India
In addition to the aforementioned Economics Project Topics for Class 12 here are few more topics to keep an eye. They are along the lines
- Principles of Management
- Exchange Rate System
- Foreign Exchange Market
- Development of Indian Economy
- Government Budgets and its Components
- Price Determination
- Money Multiplier
- Cashless Economy
- Basic Principles of Taxation
Refer to the Economics Project Ideas for Class 12 and each one of the topics is explained in detail. Use them as references and learn what to include in those particular topics. For your comfort, we have provided the key points to be mentioned in each and every Economics Project Topic.
Banking Sector Reforms
In the Banking Sector Reforms, you need to talk about the changes Banking Sector Underwent and the Impact it has created on the Economy as a Whole. Begin with how the economic policy of liberalization changed the financial scenario of India, detailed study of all the reforms. Before studying these reforms give an overview of what triggered these reforms. Key Points to be talked about are as follows
- Reduction of Statutory Liquidity Rate (SLR)and Cash Reserve Ratio (CRR)
- Deregulation of interest rates
- How the reforms changed the position of RBI from being a regulator to a facilitator
- Allowing foreign banks to open branches in India with regard to the liberalization policy
When it comes to a Project of Tax Reforms you need to talk about the following points. Firstly, learn what are tax reforms and why there is a need for reforms in India and why were they bought in India. Later you need to discuss what impact does the reforms created on the Economy and if it what the government has aimed for, etc. Major points of the Project are explained below
- India’s fiscal policy
- Simplification of the fiscal system
- Types of taxes (Indirect and direct taxes)
- Tax evasion
- Change in tax rates
Digital India Movement
Under the Topic Digital India Movement, you need to cover right from What Digit India Movement means. Give an overview of how it all started and the thought process behind it. Impact the movement has created and your take on the entire movement. Some Key Points to be included in the Digital India Movement are as follows
- Awareness of digital India project
- Digital India and foreign trade
- Adoption of the digital India policy by people coming from rural areas
- Effectiveness of digitalization
- The overall impact of the Digital India Movement
Import Substitution vs Export Promotion
Import Substitution and Export Promotion are the two key trade policy reforms and both of them are completely different from each other. In your project, you need to talk about trade policy reforms in detail, what is Import substitution and export Promotion and how they differ from one another. At last, you need to conclude and bring to light what the government wished to achieve by bringing these policies. The Key Points to be included in the project are along the lines
- Phases of Export promotion
- Export promotion council of India
- Objectives behind the export promotion
- Export promotion policies
- History of import substitution
- Measures for important substitution
- Objectives behind import substitution
Impact of Macroeconomic Variables on Values of Currencies
In this project, you need to discuss how various economic variables created an impact on the value of currencies and exchange rates. Few Key Points to be discussed in relation to the value of currency are along the lines
- Inflation rate
- Tax rate
- Balance of payment
- Monetary policy
- Import and export value
In this project, you need to talk about how prices are determined in different forms of the market. Include different forms of market, its structures, graphs, and other data related to price determination. Major Points to be included in the Price Determination are as follows
- Types of market
- Monopoly market and price determination
- Perfect competition and price determination
- Oligopoly and price determination
- Monopolist market and price determination
An Economics Project on the Opportunity Cost should include the following points
- What is the opportunity cost?
- Examples of opportunity cost
- How to calculate the opportunity cost
- Opportunity cost graph
- Applications of opportunity cost (Determining factor prices, Consumption pattern decisions, Determining economic rent, Product plan decisions, Decisions about national priorities, )
- Types of opportunity cost (Implicit cost, Explicit cost, and marginal opportunity cost)
Demand and its Determinants
Project on Demand and its Determinants should cover the following points
- What is demand
- Demand curve and schedule
- An introduction to determinants of demand
- Law of demand
- Exceptions of the law of demand
- Different determinants of demand (income of the consumer, the price of the product, price of related goods, taste, and preference of the consumer, etc.) and how they impact the demand of a commodity.
Production – Returns to a Factor
Returns to a Factor is an Important Law of Production and is also one of the key components of economic study. Project on Returns to a Factor must cover the following topics in it.
- What are the factors of production?
- Fixed factors
- Variable factors
- Total/Average/Marginal productivity
- Diminishing returns to scale
Project on Monopoly should include all the points related to the Monopoly Market. In short, Monopoly Market should cover the following topics
- What is a monopoly market and its features?
- Types of monopoly
- Reasons for an emergency of monopoly
- Market structures related to a monopoly market
- Can a monopoly market be harmful to the economy?
While choosing your Project of Economics you need to keep certain points in mind and they are listed below
- Be aware of what you are doing
- Make Sure your project is different and cut short it.
- Don’t Exaggerate and try to include all the necessary points regarding the topic. However, a topic on demand might lead you to behavioral economics and that’s not so important. Concentrate on specific features and don’t make it lengthy.
- Take Proper Guidelines from your Faculty.
FAQs on Economics Project for Class 12
Some of the Important Project Topics in Economics are given as under
- Imperfect competition and Market failure.
- Theories of the Long-run supply curve (Not recommended if you aren’t thoroughly versed in Macroeconomics basics)
- Non-Performing Asset and Central Bank’s procedures to recover it
- Central Bank’s functions with special reference to RBI
- RBI’s policies to curb inflation and appreciate currency value.
- Causes and Potential Solutions for Adverse Balance of payments.
- Theories of utility (Ordinal and cardinal Approach)
- The shift of India’s growth parameters from agricultural to manufacturing and service sectors over 50 years period.
- Derivation of the Demand curve from Hicksian and Slutsky Income and Substitution Effects.
- Banking Sector Reforms
In order to make the 12th Standard Economics Project, you need to follow the guidelines issued by the official board of examination. Before you begin working on the Project confirm with your teacher. Try to keep the project original and avoid copying project ideas from other people.
You can find the 12th Std Economics Project Ideas for free on Learncram.com a trusted portal for all your needs.