Economics - XI

  The Class XI Economics syllabus (2024-25) is organized into two main parts, Statistics for Economics and Introductory Microeconomics, along with a project component.

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Part A: Statistics for Economics

1. Unit 1: Introduction

   • Understanding Economics and its importance.
   • Role and significance of statistics in Economics.

2. Unit 2: Collection, Organisation, and Presentation of Data

   • Data collection: Primary and secondary sources.
   • Sampling methods and major data sources like the Census of India and NSSO.
   • Organizing data: Types of variables and frequency distribution.
   • Data presentation: Tabular, diagrammatic, and graphical methods (bar, pie charts, histograms, polygons, ogives, and line graphs).

3. Unit 3: Statistical Tools and Interpretation

   • Measures of Central Tendency: Arithmetic mean, median, and mode.
   • Correlation: Meaning, scatter diagrams, and measurement methods (Karl Pearson's and Spearman's rank correlation).
   • Index Numbers: Types (Wholesale Price Index, Consumer Price Index, and industrial production index), uses, inflation, and simple aggregative method.

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Part B: Introductory Microeconomics

1. Unit 4: Introduction

   • Concepts of microeconomics and macroeconomics.
   • Central problems of an economy and the Production Possibility Frontier.

2. Unit 5: Consumer's Equilibrium and Demand

   • Utility analysis: Marginal Utility and Law of Diminishing Marginal Utility.
   • Indifference curve analysis: Consumer’s budget, preferences, and equilibrium.
   • Demand analysis: Market demand, determinants, demand schedule, and elasticity of demand.

3. Unit 6: Producer Behaviour and Supply

   • Production Function and Returns to a Factor.
   • Cost and revenue concepts: Short-run costs, total and average costs, and their relationships.
   • Producer’s equilibrium and supply: Determinants, elasticity, and shifts in supply curves.

4. Unit 7: Forms of Market and Price Determination under Perfect Competition

   • Perfect competition: Features, market equilibrium, and effects of shifts in demand and supply.
   • Applications of demand and supply: Price ceiling and price floor.

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Part C: Project Work

• Practical application projects such as real-life case studies, market analysis, and economic impacts of policies are part of the curriculum.