CBSE Class 11 Economics Syllabus 2022-23

CBSE Class 11 Economics Syllabus 2022-23 includes Collection, Organisation and Presentation of Data, Statistical Tools and Interpretation, Consumer’s Equilibrium and Demand, Forms of Market and Price Determination under perfect competition with simple applications etc for the session 2022 – 2023. Here is the detailed syllabus. To download class 11 Economics CBSE latest sample question papers for the 2023 exams, please install the myCBSEguide App which is the best mobile app for CBSE students. The myCBSEguide app not only provides you the CBSE class 11 Economics model question papers but it also provides class 11 Economics chapter-wise test papers, class 11 Economics best revision notes and other study material for class 11 Economics students.

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CBSE Class – 11
Economics (Code No. 030)
Syllabus (2022-23)

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Theory: 80 Marks (3 Hours)
Project: 20 Marks

Units		Marks	Periods
Part A	Statistics for Economics
	Introduction	15	10
	Collection, Organisation and Presentation of Data		30
	Statistical Tools and Interpretation	25	50
		40
Part B	Introductory Microeconomics
	Introduction	04	10
	Consumer’s Equilibrium and Demand	15	40
	Producer Behaviour and Supply	15	35
	Forms of Market and Price Determination under perfect competition with simple applications	06	25
		40	200
Part C	Project Work	20	20

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 (10 Periods)

• What is Economics?
• Meaning, scope, functions and importance of statistics in Economics

Unit 2: Collection, Organisation and Presentation of data (30 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:

1. Geometric forms (bar diagrams and pie diagrams),
2. Frequency diagrams (histogram, polygon and ogive) and
3. Arithmetic line graphs (time series graph).

Unit 3: Statistical Tools and Interpretation (50 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- 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.

Part B: Introductory Microeconomics

Unit 4: Introduction (10 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; concepts of production possibility frontier and opportunity cost.

Unit 5: Consumer’s Equilibrium and Demand (40 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 and total expenditure method.

Unit 6: Producer Behaviour and Supply (35 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.
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. (25 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 XI curriculum

Suggested Question Paper Design
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%

Guidelines for Project Work in Economics

The objectives of the project work are to enable learners to:

• probe deeper into theoretical concepts learnt in classes XI and XII
• analyse and evaluate real-world economic scenarios using theoretical constructs and arguments
• demonstrate the learning of economic theory
• follow up aspects of economics in which learners have interest
• develop the communication skills to argue logically

The expectations of the project work are that:

• learners will complete only ONE project in each academic session
• project should be of 3,500-4,000 words (excluding diagrams & graphs), preferably hand-written
• it will be an independent, self-directed piece of study

Role of the teacher:

The teacher plays a critical role in developing thinking skills of the learners. A teacher should:

• help each learner select the topic based on recently published extracts from the news media, government policies, RBI bulletin, NITI Aayog reports, IMF/World Bank reports etc., after detailed discussions and deliberations of the topic
• play the role of a facilitator and supervisor to monitor the project work of the learner through periodic discussions
• guide the research work in terms of sources for the relevant data
• educate learner about plagiarism and the importance of quoting the source of the information to ensure authenticity of research work
• prepare the learner for the presentation of the project work
• arrange a presentation of the project file

Scope of the project:

Learners may work upon the following lines as a suggested flow chart:

Expected Checklist:

• Introduction of topic/title
• Identifying the causes, consequences and/or remedies
• Various stakeholders and effect on each of them
• Advantages and disadvantages of situations or issues identified
• Short-term and long-term implications of economic strategies suggested in the course of research
• Validity, reliability, appropriateness and relevance of data used for research work and for presentation in the project file
• Presentation and writing that is succinct and coherent in project file
• Citation of the materials referred to, in the file in footnotes, resources section, bibliography etc.

Mode of presentation/submission of the Project:

At the end of the stipulated term, each learner will present the research work in the Project File to the External and Internal examiner. The questions should be asked from the Research Work/ Project File of the learner. The Internal Examiner should ensure that the study submitted by the learner is his/her own original work. In case of any doubt, authenticity should be checked and verified.

Marking Scheme:

Marks are suggested to be given as –

S.No.	Heading	Marks Allotted
1.	Relevance of the topic	3
2.	Knowledge Content/Research Work	6
3.	Presentation Technique	3
4.	Viva-voce	8
	Total	20 Marks

Suggestive List of Projects:

• Effect on PPC due to various government policies
• Invisible Hand (Adam Smith)
• Opportunity Cost as an Economic Tool (taking real-life situations)
• Effect of Price Change on a Substitute Good (taking prices from real-life visiting local market)
• Effect on equilibrium Prices in Local Market (taking real-life situation or recent news)
• Effect of Price Change on a Complementary Good (taking prices from real-life visiting local market)
• Solar Energy, a Cost-Effective Comparison with Conventional Energy Sources
• Bumper Production- Boon or Bane for the Farmer
• Any other newspaper article and its evaluation on basis of economic principles
• Any other topic