CBSE Revised Syllabus for Class 11 Economics 2024-25

The economics syllabus Class 11 CBSE 2024-25 is divided into three parts - Part A, Part B and Part C. Part A deals with the statistical tools commonly used in the studies of Economics. These tools are used in the treatment and interpretation of data points. Part B lays the foundation for Microeconomics in the students, by providing critical knowledge of supply and demand, cost and revenue, market structures, Consumers and Producers behavior and economy. Part C is project work that engages students in applying the concepts to real-world structures and problems.

The syllabus is further divided into 7 sub-units. The unit-wise categorisation of the entire CBSE 11 Economics Syllabus as per the CBSE guidelines is given below:

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

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.

• Organisation of Data: Meaning and types of variables; Frequency Distribution. 

• 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

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.

• 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, 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 revenuemarginal 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: 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 

Guidelines as given in class XII curriculum 

Guidance to Score good in Class 11 Economics :

You should develop a careful comprehension of financial hypotheses, improvement in the review, and hypothetical math to score better in financial aspects. You can remain refreshed by understanding papers and magazines like the Financial Times and The Economist to comprehend the idea of financial aspects.

Students have to be thorough and be aware of  important topics. Now, let us know the method  for cracking this subject with a high score.

Learning Definitions and Meanings

• It is important to understand the Definitions clearly with the logic and reason behind the theory. This will help in answering relevantly to score well.

• Once the concept is clearly understood , you need to memorize the definitions so that you can write the accurate answers to the questions asked in the exam.

• Students can also refer  to other economics books to understand the concept more clearly.
  
  

Difference  Between Questions :

• The differences  among questions could be very useful because it highlights the vital factors which you want to know whilst forming the definitions and meanings.

• Learning  Graphs, Tables, and Formulas Hold Extremely Important Position

• The theories In Economics Are  defined with the assistance of Tabular and Graphical illustration alongside the formulation which make clear the ideas of economics in a smooth manner.

• You ought to exercise graphs on an ordinary foundation so that it will draw accurate diagrams of numerous curves as requested withinside the questions. Make certain to apply a sharpened pencil for this motive because it enables neatness. 

• Tables are very critical and include the calculations in addition to the use of formulation in step with the findings. You ought to exercise them alongside graphs.

• You don’t want to mug up the formulation, instead, ought to recognize how that system is acquired and what cause it's miles made for. Once you recognize the formulation, make a notice of it as a bankruptcy sensible system sheet and undergo them regularly.

• Tables, graphs, and formulation make your appearance extra fascinating and hence, provide higher assistance to perform the answer.

• To rating higher in economics magnificence eleven, cognizance on training graphs and tables.

• Get Benefits From The Numericals 

• In Economics, numericals are extra enormous for each Micro in addition to Macroeconomics.

• A wide variety of questions are requested withinside the examination from chapters like National income, the Elasticity of Demand and Supply, Revenues and Costs, etc.

• Aim to recognize the common sense among numbers in a mathematical trouble to make it less complicated whilst solving.

• Attending the numerical test is useful as it's very scoring. So, if the numerical efficiently solves the usage of the suitable system, it profits you complete marks on this query section. 

• You ought to exercise the numerical on an ordinary foundation to attain higher in economics magnificence.

• The concern economics is classed into four types. Each economic system has its very own powers and flaws, its sub-economies and propensities.
  
  

Namely:

• Traditional Economy

• Market Economy

• Command Economy

• Mixed Economy
  
  

Benefits of Economics Class 11 Syllabus

Class 11 CBSE Economics Syllabus is introductory in the concepts of statistical Economics, microeconomics Class 11 syllabus and macroeconomics. It deals with the studies of market types, supply and demand, producer’s equilibrium, cost, data representation. treatment and its interpretation.

With a better understanding of the course contents, you can plan your time accordingly which will allow you a better grasp of the course contents. Benefits of downloading the CBSE Class 11 Economics Syllabus PDF are:

• The syllabus is as per the CBSE guidelines and includes the revisions made in the syllabus.

• A list of important topics from each chapter prepared by our subject experts will help students in scoring well.

• A better understanding of course contents and weightage marks will allow for better planning of time for each topic.

• The categorisation of topics into units will allow students to highlight and bolster their weak points.