# Revised CBSE Syllabus 2021 for Class 11 Economics

Revised CBSE Syllabus 2021 for Class 11 Economics

# ECONOMICS (030)

## CLASS – XI (2020-21)

#### Theory: 80 Marks                                                                                                      3 Hours

Project: 20 Marks

 Units Marks Periods Part A Statistics for Economics Introduction 13 07 Collection, Organisation and Presentation of Data 27 Statistical Tools and Interpretation 27 41 40 75 Part B Introductory Microeconomics Introduction 4 4 Consumer’s Equilibrium and Demand 13 32 Producer Behaviour and Supply 13 26 Forms of Market and Price Determination under perfect competition with simple applications 10 13 40 75 Part C Project Work 20 15

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                                                                                                  07 Periods

What is Economics?

Meaning, scope, functions and importance of statistics in Economics

Unit 2: Collection, Organisation and Presentation of data                                 27 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.

Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data:

• 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                                                           41 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– Arithmatic mean, median and mode

Measures of Dispersion – absolute dispersion standard deviation); relative dispersion co-efficient of variation)

Correlation – meaning and properties, scatter diagram; Measures of correlation – Karl Pearson’s method (two variables ungrouped data)

Introduction to Index Numbers – meaning, types – wholesale price index, consumer price index, uses of index numbers; Inflation and index numbers.

## Part B: Introductory Microeconomics

#### Unit 4: Introduction                                                                                                  4 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; opportunity cost.

Unit 5: Consumer’s Equilibrium and Demand                                                      32 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.

#### Unit 6: Producer Behaviour and Supply                                                                26 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, average and marginal revenue – meaning and their relationship. 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.                                                                                                              13 Periods

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                                                  20 Periods

Guidelines as given in class XII curriculum

### Suggested Question Paper Design Economics (Code No. 030)

Class XI (2020-21)

March 2021 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%

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