# Economics

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.

## 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

## 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