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# CBSE Class 11 Economics Syllabus 2023-24

CBSE Class 11 Economics Syllabus 2023-24 contains all connected chapters of the subjects of this Academic year. CBSE has released the syllabus for this academic session. CA Wizard brings you the new syllabus of Class 11 Economics. Monetary issues are the human science that focuses on the creation, transport, and usage of work and items. Student can download full syllabus and Marking scheme of class 11 Economics in PDF.

## CBSE Class 11 Economics Marking Scheme 2023-24

 Units Marks Part A Statistics  for Economics Introduction 15 Collection, Organisation and Presentation of Data Statistical Tools and Interpretation 25 40 Part B Introductory Microeconomics Introduction 04 Consumer’s Equilibrium and Demand 15 Producer Behaviour and Supply 15 Forms of Market and Price Determination under perfect competition with simple applications 06 40 Part C Project Work 20

### Section 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, Organization, 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.

### Section 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

It means 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 revenue marginal 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.

### Section C: Project in Economics

 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%

## Guidelines for Project Work in Economics (Class XI)

• The goals of the undertaking work are to empower students to:
• Test further into hypothetical ideas learned in classes and XI
• Dissect and assess certifiable financial situations utilizing hypothetical builds and contentions
• Show the learning of financial hypothesis
• Follow up parts of financial matters in which students have an interest
• Foster the relational abilities to contend intelligently
• The assumptions for the venture work are that:
• Students will finish just ONE venture in every scholastic meeting
• The undertaking ought to be of 3,500-4,000 words (barring outlines and diagrams), ideally manually written
• It will be an autonomous, self-coordinated piece of study
• The Job of the Instructor: The educator assumes a basic part in fostering the thinking abilities of the students. An educator has to:
• Assist every student with choosing the theme dependent on as of late distributed concentrates from the news media, government arrangements, RBI notice, NITI Aayog reports, IMF/World Bank reports, and so forth, after definite conversations and consultations of the subject.
• Assume the part of a facilitator and chief to screen the venture work of the student through intermittent conversations.
• Guide the examination work as far as hotspots for the significant information.
• Instruct students about literary theft and the significance of citing the wellspring of the data to guarantee the legitimacy of exploration work.
• Ø  Set up the student for the introduction of the undertaking work.
• Organize a show of the venture record.

With this descriptive Syllabus for the CBSE class 11 Economics subject, you will gather excellent marks from any school or college if you follow the guidelines and principles described in the article. Do not bother with your career prospects CAwizard is there to study and learn more even after passing the Class 11 & 12 examinations.

## Frequently Asked Questions for CBSE Class 11 Economics

Q1. How many chapters are there in Class 11 Economics?

Ans: There are 7 Chapters in Class 11 Economics in both books, Introduction to Statistics and Microeconomics.

Q2. Is Economics hard in Class 11?

Ans: Class 11 Economics is very easy and Scoring. All you need to do is understand the concept and Practice.

Q3. How many books are there in class 11 Economics?

Ans: There are 2 Books in Class 11 Economics Statistics and Microeconomics.