Click here to learn more about the Economics Syllabus for Standard 11th.

Provided below is the complete and latest (2022-23) class 11 syllabus for Economics, as set by the Central Board of Secondary Education. The primary objective of the syllabus is to inculcate a basic understanding of economic concepts and development of economic reasoning which students can apply in their everyday life as citizens and consumers.

Part A: Statistics for Economics  

Unit 1: Introduction 

  • Meaning of Economics
  • What is Economics? 
  • Functions of Economics
  • Scope of Economics
  • 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 
      • National Sample Survey Organisation
  • The Organisation of Data
    • Meaning and Types of Variables
    • Frequency Distribution
  • Presentation of Data
    • Tabular Presentation 
    • Diagrammatic Presentation of Data
      • Frequency diagrams (polygon, histogram, and ogive) 
      • Geometric forms (bar diagrams and pie diagrams)
      • Arithmetic line graphs (time series graph)

Unit 3: Statistical Tools and Interpretation 

  • Measures of Central Tendency-
    • Mode 
    • Arithmetic Mean
    • Median 
  • Correlation 
    • Scatter Diagram
    • Meaning and Properties
    • Spearman’s Rank Correlation
    • Karl Pearson’s Method (Two Variables Ungrouped Data) 
    • Measures of Correlation
  • Introduction to Index Numbers – 
    • Types 
    • Meaning
    • Uses of Index Numbers
    • Consumer Price Index and Index of Industrial Production
    • Wholesale Price Index
    • Inflation and Index Numbers

Part B: Introductory Microeconomics  

Unit 4: Introduction 

  • What is an economy? 
  • Meaning of microeconomics and macroeconomics
  • Positive and normative economics 
  • Concepts of production possibility frontier and opportunity cost
  • Central problems of an economy- what, how and for whom to produce 

Unit 5: Consumer’s Equilibrium and Demand 

  • Consumer’s Equilibrium 
    • Meaning of Utility
    • Law of Diminishing Marginal Utility
    • Marginal Utility
    • Conditions of Consumer’s Equilibrium Using Marginal Utility Analysis
  • Indifference curve analysis of consumer’s equilibrium
    • Preferences of the Consumer (Indifference Curve, Indifference Map) 
    • The Consumer’s Budget (Budget Set and Budget Line)
    • Conditions of Consumer’s Equilibrium
  • Market Demand
  • Demand
  • Demand Schedule
  • Determinants of Demand
  • Movement Along And Shifts in The Demand Curve
  • Price Elasticity of Demand 
  • Demand Curve And its Slope
  • Measurement of Price Elasticity of Demand 
  • Factors Affecting Price Elasticity of Demand
  • Total Expenditure Method
  • Percentage-Change Method 

Unit 6: Producer Behaviour and Supply 

  • Meaning of Production Function 
    • Long-Run 
    • Short-Run
  • Marginal Product
  • Average Product
  • Total Product
  • Returns to a Factor 
  • Cost
    • Total Cost
    • Short-Run Costs 
    • Total Variable Cost
    • Total Fixed Cost
    • Average Fixed Cost
    • Average Cost
    • Marginal Cost-Meaning and Their Relationships
    • Average Variable Cost 
  • Revenue 
    • It’s Meaning and Their Relationship
    • Total, Average and Marginal Revenue 
    • Supply
    • Producer’s Equilibrium-Meaning And Its Conditions in Terms of Marginal Revenue marginal Cost
    • Determinants of Supply
    • Market Supply
    • Supply Curve And Its Slope
    • Supply Schedule
    • Shifts in Supply Curve
    • Movements along Slope
    • Measurement of Price Elasticity of Supply
    • Price Elasticity of Supply
    • Percentage-Change Method

Unit 7: Forms of Market and Price Determination under Perfect Competition with simple applications. 

  • Perfect Competition and its Features
  • Determination of Market Equilibrium and Effects of Shifts in Demand and Supply. 
  • Simple Applications of Demand 
  • Supply 
    • Price Floor
    • Price Ceiling