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ISC Economics Syllabus Class 11

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Last updated date: 22nd Mar 2024
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MVSAT 2024

ISC Class 11 Economics Syllabus - Free PDF Download

Vedantu website offers you to download the new and updated syllabus of ISC Class 11 Economics as per ISC guidelines. After opening the link, click on the “Download PDF” button. Vedantu also provides for syllabus all other subjects of the Class 11 Indian School Certificate (ISC) Exam.

 

Students can also register for the online ISC tuitions on Vedantu.com to clear your doubts and download the complete Syllabus for Class 11 Economics to prepare for the upcoming Board Examinations.

Tips for scoring good marks

  • During the exam, stick to a simple and neat answer format. It is important to ensure that your answer paper is easy for the examiner to read. 

  • Use bullet or numbered points to write your descriptive answers and give pictorial or graphical illustrations wherever possible.  

  • While answering the long answer type questions, before starting, frame a skeleton of the answer in the margin and then proceed to write.

  • Be crisp and always keep your answer to the point.

  • Solve multiple sample papers and worksheets during the preparation.

  • Keep referring to the syllabus to ensure that you have not missed anything.

  • Focus on the weightages to give more attention to topics with higher weightage.

  • Time management is key in completing the paper successfully. 

  • Prepare revision notes.

FAQs on ISC Economics Syllabus Class 11

1. List some of the challenges faced by the Indian Economy currently?

Over the last few years, the Indian Economy has been affected by a number of factors. The condition is only getting worse. Achieving consistent economic growth has been a major obstacle for India. It is because of many factors which we are suddenly facing in recent years. There are many challenges which are responsible for the steady growth of the Indian Economy. Some key factors are mentioned below- 

  • Tackling Poverty

  • Increasing Unemployment

  • Providing free and universal education

  • Providing decent healthcare facilities

  • Rising Inflation Rate

  • Weak Demand

  • Hurdles caused by the Pandemic

2. Define Statistics and its various scope and limitations.

Statistics refers to the science of collecting, verifying, interpreting and analyzing numerical data for the purpose of creating mathematical models. Based of the collected data, statisticians can predict trends, estimate population level, forecast weather conditions, analyse the stock market, etc.

Scope of Statistics:

  • Helps in long term economic planning

  • Forms the basis of research in all areas

  • Statistics is an important tool for formulating policies and forecasting future trends.

  • Helps in presenting data in simple numerical terms 

  • It helps in presenting complex fact in simple way

  • Helps in forecasting

  • Helps in developing hypotheses. 

Limitation of Statistics:

  • Results can’t be exact

  • Many methods exist to study a problem

  • Can be often misleading

  • Cannot estimate qualitative values

  • Requires expert knowledge to understand

  • Law of statistics are not exact

3. List the structural changes that took place in the Indian Economy post Liberalisation.

Economic liberalisation refers to the changes in economic policies of a country. The Indian Economic Liberalisation took place in the 1990s. It led to many monumental changes in the Indian Economy, which are as follows -

  • Reduced Government regulation and interference in private sector

  • Devaluation of the Indian Rupee

  • Reduction in import tariffs

  • Reduction in taxes

  • Increased foreign borrowings

  • Rise in Foreign investments

  • Abolition of export subsidies

  • Deregulation of Market

  • Disinvestment of Public Sector Enterprises

  • Expansion of Private Sector

  • Reduction in subsidies.

4. Define Economics and explain what type of Economy System is India.

Economics refers to the study of creation, transfer and usage of wealth. Economics gives you tools to predict market situations and price changes. By applying various Economics theories, economists can understand the movers and forces of the market. The study of Economics forms the basis of understanding the movement of goods and money. Economics can be divided into microEconomics and macroEconomics. 


The Indian Economic System is called the Mixed System. It consists of positive aspects of both Capitalist and Socialist Economic Systems.

5. What is MNREGA?

MNREGA is the abbreviation for Mahatma Gandhi National Employment Guarantee Act is a labour law that guarantees an individual's “right to work”. The Act guarantees hundred days of wage employment in a financial year, to rural households. In case if the work is not assigned to the applicant, then the wages shall be provided for unemployed days as well. It is one of the most commendable efforts by the Indian Government to reduce unemployment and poverty in the rural areas.