Syllabus: Economics for Class 11 | Economics Class 11 - Commerce PDF Download

 Page 1


 2
ECONOMICS (030) 
CLASS – XI (2023-24) 
           
Theory: 80 Marks           3 Hours  
Project: 20 Marks 
Units  Marks Periods 
Part A Statistics for Economics   
 Introduction 
15 
10 
 Collection, Organisation and Presentation of Data 30 
 Statistical Tools and Interpretation 25 50 
  40  
    
Part B  Introductory Microeconomics   
 Introduction 04 10 
 Consumer's Equilibrium and Demand 14 40 
 Producer Behaviour and Supply 14 35 
 Forms of Market and Price Determination under 
perfect competition with simple applications 
08 25 
  40  
   200 
Part C Project Work 20 20 
 
Part A: Statistics for Economics 
In this course, the learners are expected to acquire skills in collection, organisation and 
presentation of quantitative and qualitative information pertaining to various simple 
economic aspects systematically. It also intends to provide some basic statistical tools 
to analyse, and interpret any economic information and draw appropriate inferences. In 
this process, the learners are also expected to understand the behaviour of various 
economic data. 
 
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    30 Periods 
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. 
 
Organisation of Data: Meaning and types of variables; Frequency Distribution. 
Page 2


 2
ECONOMICS (030) 
CLASS – XI (2023-24) 
           
Theory: 80 Marks           3 Hours  
Project: 20 Marks 
Units  Marks Periods 
Part A Statistics for Economics   
 Introduction 
15 
10 
 Collection, Organisation and Presentation of Data 30 
 Statistical Tools and Interpretation 25 50 
  40  
    
Part B  Introductory Microeconomics   
 Introduction 04 10 
 Consumer's Equilibrium and Demand 14 40 
 Producer Behaviour and Supply 14 35 
 Forms of Market and Price Determination under 
perfect competition with simple applications 
08 25 
  40  
   200 
Part C Project Work 20 20 
 
Part A: Statistics for Economics 
In this course, the learners are expected to acquire skills in collection, organisation and 
presentation of quantitative and qualitative information pertaining to various simple 
economic aspects systematically. It also intends to provide some basic statistical tools 
to analyse, and interpret any economic information and draw appropriate inferences. In 
this process, the learners are also expected to understand the behaviour of various 
economic data. 
 
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    30 Periods 
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. 
 
Organisation of Data: Meaning and types of variables; Frequency Distribution. 
 3
Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: 
(i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams 
(histogram, polygon and Ogive) and (iii) Arithmetic line graphs (time series graph). 
 
Unit 3: Statistical Tools and Interpretation      50 Periods 
For all the numerical problems and solutions, the appropriate economic interpretation may be 
attempted. This means, the students need to solve the problems and provide interpretation for 
the results derived. 
 
Measures of Central Tendency- Arithmetic mean, Median and Mode 
 
Correlation – meaning and properties, scatter diagram; measures of correlation - Karl 
Pearson's method (two variables ungrouped data) Spearman's rank correlation 
(Non-Repeated Ranks and Repeated Ranks). 
 
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, 
Simple Aggregative Method. 
 
Part B: Introductory Microeconomics 
Unit 4: Introduction          10 Periods 
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      40 Periods 
Consumer's equilibrium - meaning of Utility, Marginal Utility, 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.  
Page 3


 2
ECONOMICS (030) 
CLASS – XI (2023-24) 
           
Theory: 80 Marks           3 Hours  
Project: 20 Marks 
Units  Marks Periods 
Part A Statistics for Economics   
 Introduction 
15 
10 
 Collection, Organisation and Presentation of Data 30 
 Statistical Tools and Interpretation 25 50 
  40  
    
Part B  Introductory Microeconomics   
 Introduction 04 10 
 Consumer's Equilibrium and Demand 14 40 
 Producer Behaviour and Supply 14 35 
 Forms of Market and Price Determination under 
perfect competition with simple applications 
08 25 
  40  
   200 
Part C Project Work 20 20 
 
Part A: Statistics for Economics 
In this course, the learners are expected to acquire skills in collection, organisation and 
presentation of quantitative and qualitative information pertaining to various simple 
economic aspects systematically. It also intends to provide some basic statistical tools 
to analyse, and interpret any economic information and draw appropriate inferences. In 
this process, the learners are also expected to understand the behaviour of various 
economic data. 
 
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    30 Periods 
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. 
 
Organisation of Data: Meaning and types of variables; Frequency Distribution. 
 3
Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: 
(i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams 
(histogram, polygon and Ogive) and (iii) Arithmetic line graphs (time series graph). 
 
Unit 3: Statistical Tools and Interpretation      50 Periods 
For all the numerical problems and solutions, the appropriate economic interpretation may be 
attempted. This means, the students need to solve the problems and provide interpretation for 
the results derived. 
 
Measures of Central Tendency- Arithmetic mean, Median and Mode 
 
Correlation – meaning and properties, scatter diagram; measures of correlation - Karl 
Pearson's method (two variables ungrouped data) Spearman's rank correlation 
(Non-Repeated Ranks and Repeated Ranks). 
 
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, 
Simple Aggregative Method. 
 
Part B: Introductory Microeconomics 
Unit 4: Introduction          10 Periods 
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      40 Periods 
Consumer's equilibrium - meaning of Utility, Marginal Utility, 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.  
 4
 
Unit 6: Producer Behaviour and Supply       35 Periods 
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 Revenue, Average Revenue 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 supply curve, price elasticity of supply; 
measurement of price elasticity of supply - percentage-change method. 
 
Unit 7: Perfect Competition - Price Determination and simple applications.  
           25 Periods 
Perfect competition - Features; Determination of market equilibrium and effects of 
shifts in demand and supply. (Short Run Only)  
 
Simple Applications of Demand and Supply: Price ceiling, Price floor. 
         
Part C: Project in Economics              20 Periods 
Guidelines as given in Class XII curriculum  
 
Page 4


 2
ECONOMICS (030) 
CLASS – XI (2023-24) 
           
Theory: 80 Marks           3 Hours  
Project: 20 Marks 
Units  Marks Periods 
Part A Statistics for Economics   
 Introduction 
15 
10 
 Collection, Organisation and Presentation of Data 30 
 Statistical Tools and Interpretation 25 50 
  40  
    
Part B  Introductory Microeconomics   
 Introduction 04 10 
 Consumer's Equilibrium and Demand 14 40 
 Producer Behaviour and Supply 14 35 
 Forms of Market and Price Determination under 
perfect competition with simple applications 
08 25 
  40  
   200 
Part C Project Work 20 20 
 
Part A: Statistics for Economics 
In this course, the learners are expected to acquire skills in collection, organisation and 
presentation of quantitative and qualitative information pertaining to various simple 
economic aspects systematically. It also intends to provide some basic statistical tools 
to analyse, and interpret any economic information and draw appropriate inferences. In 
this process, the learners are also expected to understand the behaviour of various 
economic data. 
 
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    30 Periods 
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. 
 
Organisation of Data: Meaning and types of variables; Frequency Distribution. 
 3
Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: 
(i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams 
(histogram, polygon and Ogive) and (iii) Arithmetic line graphs (time series graph). 
 
Unit 3: Statistical Tools and Interpretation      50 Periods 
For all the numerical problems and solutions, the appropriate economic interpretation may be 
attempted. This means, the students need to solve the problems and provide interpretation for 
the results derived. 
 
Measures of Central Tendency- Arithmetic mean, Median and Mode 
 
Correlation – meaning and properties, scatter diagram; measures of correlation - Karl 
Pearson's method (two variables ungrouped data) Spearman's rank correlation 
(Non-Repeated Ranks and Repeated Ranks). 
 
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, 
Simple Aggregative Method. 
 
Part B: Introductory Microeconomics 
Unit 4: Introduction          10 Periods 
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      40 Periods 
Consumer's equilibrium - meaning of Utility, Marginal Utility, 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.  
 4
 
Unit 6: Producer Behaviour and Supply       35 Periods 
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 Revenue, Average Revenue 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 supply curve, price elasticity of supply; 
measurement of price elasticity of supply - percentage-change method. 
 
Unit 7: Perfect Competition - Price Determination and simple applications.  
           25 Periods 
Perfect competition - Features; Determination of market equilibrium and effects of 
shifts in demand and supply. (Short Run Only)  
 
Simple Applications of Demand and Supply: Price ceiling, Price floor. 
         
Part C: Project in Economics              20 Periods 
Guidelines as given in Class XII curriculum  
 
 5
Suggested Question Paper Design 
Economics (Code No. 030) 
Class XI (2023-24) 
March 2024 Examination 
 
Marks: 80          Duration: 3 hrs. 
 
SN Typology of Questions Marks Percentage 
1 
Remembering and Understanding:  
Exhibit memory of previously learned material by recalling 
facts, terms, basic concepts, and answers. 
Demonstrate understanding of facts and ideas by 
organizing, comparing, translating, interpreting, giving 
descriptions, and stating main ideas 
44 55% 
2 
Applying: Solve problems to new situations by applying 
acquired knowledge, facts, techniques and rules in a 
different way. 
18 22.5% 
3 
Analysing, Evaluating and Creating:  
Examine and break information into parts by identifying 
motives or causes. Make inferences and find evidence to 
support generalizations.  
Present and defend opinions by making judgments about 
information, validity of ideas, or quality of work based on a 
set of criteria. 
Compile information together in a different way by 
combining elements in a new pattern or proposing 
alternative solutions. 
 
18 22.5% 
 Total 80 100%