CBSE Class 11 Economics Detailed Syllabus
Part A: Statistics for Economics
Unit 1: Introduction (10 Periods)
- What is Economics?
- Meaning, scope, functions, and importance of statistics in Economics
Unit 2: Collection, Organisation, and Presentation of data
- Collection of data – sources of data – primary and secondary; how basic data is collected with concepts of Sampling; methods of collecting data; some important sources of secondary data: Census of India and National Sample Survey Organisation.
- Organization of Data: Meaning and types of variables; Frequency Distribution.
- Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data:
- Geometric forms (bar diagrams and pie diagrams),
- Frequency diagrams (histogram, polygon, and ogive) and
- Arithmetic line graphs (time series graph).
Unit 3: Statistical Tools and Interpretation
- Measures of Central Tendency- Arithmetic mean, median, and mode
- Correlation – meaning, properties, scatter diagram; Measures of correlation – Karl Pearson’s method (two variables ungrouped data) Spearman’s rank correlation.
- Introduction to Index Numbers – meaning, types – wholesale price index, consumer price index and index of industrial production, uses of index numbers; Inflation and index numbers.
Part B: Introductory Microeconomics
Unit 4: Introduction
- Meaning of microeconomics and macroeconomics; positive and normative economics
- What is an economy? Central problems of an economy: what, how, and for whom to produce; concepts of production possibility frontier and opportunity cost.
Unit 5: Consumer’s Equilibrium and Demand
- Consumer’s equilibrium – meaning of utility, marginal utility, the law of diminishing marginal utility, conditions of consumer’s equilibrium using marginal utility analysis.
- Indifference curve analysis of consumer’s equilibrium-the consumer’s budget (budget set and budget line), preferences of the consumer (indifference curve, indifference map), and conditions of consumer’s equilibrium.
- Demand, market demand, determinants of demand, demand schedule, demand curve, and its slope, movement along and shifts in the demand curve; price elasticity of demand – factors affecting price elasticity of demand; measurement of price elasticity of demand – percentage-change method and total expenditure method.
Unit 6: Producer Behaviour and Supply
- Meaning of Production Function – Short-Run and Long-Run
- Total Product, Average Product, and Marginal Product. Returns to a Factor
- Cost: Short run costs – total cost, total fixed cost, total variable cost; Average cost; Average fixed cost, average variable cost, and marginal cost meaning and their relationships.
- Revenue – total, average and marginal revenue – meaning and their relationship.
- Producer’s equilibrium meaning and its conditions in terms of marginal revenue marginal cost. Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in the supply curve, price elasticity of supply; measurement of price elasticity of supply – percentage-change method.
Unit 7: Forms of Market and Price Determination under Perfect Competition with simple applications.
- Perfect competition – Features; Determination of market equilibrium and effects of shifts in demand and supply.
- Simple Applications of Demand and Supply: Price ceiling, price floor.
Part C: Project in Economics
CBSE Class 11 Syllabus 2024-25
CBSE Class 11 Syllabus for the academic year 2023-24. This Class 11 Syllabus has been designed to provide students with a strong foundation for higher studies as it covers major subjects such as Mathematics, Science, Social Science, Languages, and Skill-Based subjects. In this guide, we will provide you with all the relevant information regarding the CBSE Class 11 Syllabus. The latest Class 11 NCERT Syllabus has been released on the official website, and it is crucial for students to go through it to get an idea about the topics they will be studying.
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