30-Day Study Plan: Economics Class 11 | Economics Class 11 - Commerce PDF Download

Week 1: Building Foundations in Microeconomics

Day 1: Introduction to Economics

Start with the basics of Economics, understanding its meaning and scope. Learn about the difference between Microeconomics and Macroeconomics.

• Read: Chapter Notes - Introduction to Microeconomics
• Watch: Meaning of Economics
• Task: Revise notes and focus on weak areas.
• Practice: Attempt Test: Introduction To Economics - 1

Day 2: Central Problems of an Economy

Explore the central problems of an economy: what to produce, how to produce, and for whom to produce.

• Read: Central Problems of an Economy
• Study: Scanner - Central Problem
• Task: Write a short note explaining the three central problems.
• Practice: Solve Important Questions: Introduction to Microeconomics

Day 3: Opportunity Cost and Production Possibility Frontier

Understand the concept of opportunity cost and the Production Possibility Frontier (PPF).

• Watch: Introduction to Opportunity Cost
• Read: Production Possibility Frontier
• Task: Draw a PPF diagram and explain marginal opportunity cost.
• Practice: Complete Worksheet: Introduction to Microeconomics- 1

Day 4: Consumer Equilibrium and Utility

Learn about consumer equilibrium, utility, and the law of diminishing marginal utility.

• Read: Consumer Equilibrium - Microeconomics
• Watch: Law of Diminishing Marginal Utility
• Task: Create flashcards for key terms like marginal utility and total utility.
• Practice: Attempt Test: Theory Of Consumer Behaviour - 1

Day 5: Demand and Law of Demand

Study the concept of demand, individual and market demand, and the law of demand.

• Read: Chapter Notes - Theory Of Demand
• Watch: Law of Demand and Demand Curve
• Task: Draw a demand curve and explain factors affecting demand.
• Practice: Solve Short and Long Questions With Answers - Theory Of Consumer Behaviour

Day 6: Elasticity of Demand

Explore price elasticity of demand and its determinants.

• Watch: PPT: Demand and Elasticity of Demand
• Study: Scanner - Elasticity of Demand
• Task: Solve numerical problems on price elasticity.
• Practice: Revise with Mind Map: Introduction to Microeconomics and Mindmap: Theory of Consumer Behaviour

Week 2: Deepening Microeconomics Concepts

Day 8: Indifference Curve Analysis

Learn about indifference curves and their role in consumer behavior.

• Read: Indifference Curve - Microeconomics
• Watch: What is an Indifference Curve?
• Task: Draw an indifference curve and explain its properties.
• Practice: Solve Passage Based Questions: Theory of Consumer Behaviour

Day 9: Budget Line and Consumer Equilibrium

Understand the budget line and how it relates to consumer equilibrium.

• Watch: Introduction to Budget Line
• Study: Chapter Notes - Consumer's Equilibrium and Demand
• Task: Solve problems on consumer equilibrium using indifference curves.
• Practice: Complete Worksheet: Theory of Consumer Behaviour- 1

Day 10: Production Function

Explore the production function and the relationship between total, average, and marginal product.

• Read: Production Function - Microeconomics
• Watch: Relation Between TP, AP and MP and their Curves
• Task: Create a table showing TP, AP, and MP relationships.
• Practice: Attempt Test: Production And Costs - 1

Day 11: Law of Diminishing Marginal Returns

Study the law of diminishing marginal returns and its implications.

• Watch: Law of Diminishing Marginal Products
• Read: Chapter Notes - Production and Costs
• Task: Explain the three stages of production in your own words.
• Practice: Solve Short Questions With Answers - Production And Costs

Day 12: Cost of Production

Understand different types of costs and cost curves in production.

• Read: Cost of Production - Microeconomics
• Watch: Understanding: Costs of Production (with example)
• Task: Draw cost curves (TC, AC, MC) and explain their shapes.
• Practice: Complete Worksheet: Production and Costs- 1

Day 13: Returns to Scale

Learn about returns to scale and their impact on production.

• Watch: Return to Scale - Economics
• Study: Scanner - Production function
• Task: Write a short note on increasing, constant, and diminishing returns to scale.
• Practice: Attempt Test: Production and Costs- Case Based Type Questions

Day 14: Revision and Practice Test

Revise concepts from Days 8-13 and take a practice test.

• Review: Mindmap: Production and Costs
• Task: Focus on weak areas and revise notes.
• Practice: Attempt Test: Production And Costs - 2

Week 3: Advanced Microeconomics and Introduction to Statistics

Day 15: Producer Equilibrium

Study producer equilibrium under perfect competition.

• Read: Producer Equilibrium - Microeconomics
• Watch: Revenue and its Curves
• Task: Explain how a firm achieves equilibrium using MR and MC.
• Practice: Solve Scanner - Producer Equilibrium

Day 16: Supply and Elasticity of Supply

Understand the concept of supply and price elasticity of supply.

• Watch: Fun Video: Understanding - Supply and Demand
• Read: Price Elasticity of Supply
• Task: Solve numerical problems on elasticity of supply.
• Practice: Attempt Test: Theory Of The Firm Under Perfect Competition - 1

Day 17: Market Equilibrium

Learn about market equilibrium, excess demand, and excess supply.

• Read: Chapter Notes: Market Equilibrium
• Watch: The Equilibrium Price and Equilibrium Quantity
• Task: Draw demand and supply curves to show equilibrium.
• Practice: Complete Worksheet: Market Equilibrium- 1

Day 18: Introduction to Statistics for Economics

Start with the basics of statistics, its meaning, and scope in economics.

• Read: Chapter Notes - Introduction (Statistics for Economics)
• Watch: Introduction: Statistics for Economics
• Task: Create a mind map of statistical tools and their uses.
• Practice: Attempt Test: Introduction To Statistics - 1

Day 19: Collection of Data

Understand methods of collecting primary and secondary data.

• Read: Chapter Notes - Collection of Data
• Watch: Methods of collecting Primary Data
• Task: List differences between primary and secondary data.
• Practice: Solve Worksheet: Collection of Data- 1

Day 20: Organisation of Data

Learn about classification and organization of data for analysis.

• Read: Chapter Notes - Organisation of Data
• Watch: Organisation and Classification of Data
• Task: Create a frequency distribution table from sample data.
• Practice: Attempt Test: Organisation of Data - 1

Day 21: Revision and Practice Test

Revise concepts from Days 15-20 and take a practice test.

• Review: Mind Map: Market Equilibrium and Mind Map: Collection of Data
• Task: Focus on weak areas and revise notes.
• Practice: Attempt Test: Market Equilibrium - 2

Week 4: Statistical Tools and Exam Practice

Day 22: Presentation of Data

Study tabular and graphical methods of data presentation.

• Read: Chapter Notes - Presentation of Data
• Watch: Introduction on Graphical Representation of Data
• Task: Create a bar graph and pie chart using sample data.
• Practice: Complete Worksheet: Presentation of Data- 1

Day 23: Measures of Central Tendency

Learn about mean, median, and mode, and their applications.

• Read: Chapter Notes: Measures of Central Tendency
• Watch: Introduction: Mean Median and Mode
• Task: Solve numerical problems on mean, median, and mode.
• Practice: Attempt Test: Measures of Central Tendency - 1

Day 24: Correlation

Understand correlation, types, and methods like Karl Pearson’s coefficient.

• Read: Chapter Notes - Correlation
• Watch: What Is Correlation?
• Task: Calculate Karl Pearson’s coefficient using sample data.
• Practice: Solve Test: Correlation

Day 25: Index Numbers

Study index numbers, including consumer price index and weighted index numbers.

• Read: Chapter Notes - Index Numbers
• Watch: Consumer Price Index
• Task: Solve problems on constructing index numbers.
• Practice: Attempt Test: Index Numbers - 1

Day 26: Use of Statistical Tools

Explore the application of statistical tools in economic analysis.

• Read: Chapter Notes - Use of Statistical Tools
• Watch: Use of Statistical Tools
• Task: Write a note on the importance of statistical tools in economics.
• Practice: Complete Worksheet: Use of Statistical Tools

Day 27: Revision of Statistical Concepts

Revise statistical concepts from Days 18-26.

• Review: Mind Map: Measures of Central Tendency and Mind Map: Correlation
• Task: Summarize key statistical concepts in your own words.
• Practice: Attempt Test: Index Numbers - 2

Day 28: Previous Year Papers

Practice with previous year CBSE Economics papers to understand the exam pattern.

• Solve: Class 11 Economics Previous Year Paper - 1
• Solve: Class 11 Economics Previous Year Paper - 2
• Task: Analyze mistakes and review related concepts.

Day 29: Sample Papers

Solve CBSE sample papers to simulate exam conditions.

• Solve: CBSE Class 11 Economics Sample Paper - 1
• Solve: CBSE Class 11 Economics Sample Paper - 2
• Task: Time yourself to improve speed and accuracy.

Day 30: Final Revision and Mock Test

Revise all topics, focus on weak areas, and take a final mock test.

• Review: Syllabus: Economics for Class 11
• Task: Revise all mind maps and notes.
• Practice: Attempt CBSE Class 11 Economics Sample Paper - 4

Tips for Effective Preparation

• Be Consistent: Study 2-3 hours daily and stick to the schedule to cover all topics.
• Use Visual Aids: Create mind maps, diagrams, and flashcards to reinforce concepts like PPF, demand curves, and statistical graphs.
• Practice Regularly: Solve worksheets, tests, and past papers to build confidence and improve problem-solving skills.
• Revise Actively: Summarize concepts in your own words and teach them to a friend to enhance retention.
• Stay Positive: Take short breaks, stay motivated, and maintain a positive mindset to avoid burnout.