CBSE Class 11 Economics Syllabus 2024-25

CBSE Class 11 Economics Syllabus 2024-25

The CBSE Class 11 Economics syllabus for the academic session 2024-25 provides a comprehensive foundation in economics, covering both microeconomic and statistical concepts. This syllabus equips students with the theoretical knowledge and analytical skills necessary to understand economic principles and their real-world applications. The syllabus includes topics ranging from the collection and presentation of data to the study of consumer behavior, market structures, and price determination. Students must follow the updated CBSE syllabus to ensure they are aligned with the official curriculum. With the most recent syllabus, students can focus on important topics, manage their study time effectively, and prepare for their exams with confidence using myCBSEGuide App.

Key Topics in the Class 11 Economics Syllabus 2024-25:

1. Collection, Organisation, and Presentation of Data:

• Data Collection: Understanding the process of gathering data from primary and secondary sources.
• Data Organisation: Learning how to organize data in tables, diagrams, and charts for better interpretation.
• Presentation of Data: Mastering the skills to present data effectively using graphs, histograms, and frequency distributions.

2. Statistical Tools and Interpretation:

• Measures of Central Tendency: Mean, median, and mode – learning how to calculate and interpret these central values.
• Measures of Dispersion: Range, variance, and standard deviation to understand the spread of data.
• Correlation and Regression: Basic concepts of correlation and regression analysis for understanding the relationships between economic variables.
• Interpretation of Data: Developing the ability to interpret statistical data for informed decision-making.

3. Consumer’s Equilibrium and Demand:

• Consumer’s Equilibrium: Understanding the concept of utility, law of diminishing marginal utility, and the consumer’s equilibrium.
• Theory of Demand: Studying the law of demand, factors influencing demand, and the concept of elasticity of demand.
• Demand Curve and Shifts: Analysis of demand curves and how various factors can lead to shifts in the demand curve.

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

• Market Structures: Understanding different forms of markets such as perfect competition, monopolistic competition, oligopoly, and monopoly.
• Perfect Competition: Detailed study of perfect competition, where a large number of firms sell identical products, and the role of supply and demand in price determination.
• Price Determination: The process of price determination under perfect competition, including the concept of equilibrium price and quantity.

5. Basic Concepts of Microeconomics:

• Production and Cost: Introduction to the factors of production and cost analysis, including fixed and variable costs.
• Supply Curve and its Determination: Understanding how supply is affected by various factors and the derivation of the supply curve.
• Market Equilibrium: Analyzing the equilibrium in the market where the demand and supply curves intersect.

Importance of the Economics Syllabus:

The Economics syllabus for Class 11 is designed to help students understand the basic economic theories and concepts that form the backbone of various economic systems. It equips students with analytical tools for interpreting economic data and understanding how markets function. By mastering these topics, students gain insights into the broader world of economics, helping them develop the necessary skills for further studies in economics or related fields. Download the syllabus from our website myCBSEguide now to start preparing and ensure success in your exams.

Preparation Tips for Class 11 Economics:

1. Understand the Core Concepts: Economics is a subject that requires a deep understanding of theoretical concepts. Make sure to thoroughly study and understand the fundamental theories related to demand, supply, consumer behavior, and market structures.
2. Practice Graphical Representations: A significant part of economics involves interpreting and drawing graphs. Regularly practice drawing supply and demand curves, production possibility curves, and other economic graphs to ensure accuracy.
3. Solve Numerical Problems: The statistical portion of the syllabus involves solving problems related to measures of central tendency, dispersion, and correlation. Practice these numerical problems to build your confidence and improve your calculation skills.
4. Keep Up with Current Affairs: Economics is a dynamic subject, and understanding real-world applications is important. Stay updated with current economic events and trends that may relate to the concepts you’re learning.
5. Use NCERT Textbooks and Sample Papers: The NCERT Economics textbooks for Class 11 provide a structured approach to the subject, with detailed explanations of all concepts. Additionally, solving sample papers and previous year question papers will help you become familiar with the exam pattern and improve your time management skills.
6. Regular Revision: Make a habit of revising the chapters regularly. This will help reinforce your understanding of the subject and reduce last-minute stress before exams.

Class 11 Economics Mobile App

CBSE Class – 11
Economics (Code No. 030)
Syllabus (2024-25)

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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	14	40
	Producer Behaviour and Supply	14	35
	Forms of Market and Price Determination under perfect competition with simple applications	08	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 (Non-Repeated Ranks and Repeated Ranks).

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. Simple Aggregative Method.

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 Revenue, Average Revenue 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: Perfect Competition – Price Determination and simple applications. (25 Periods)

Perfect competition – Features; Determination of market equilibrium and effects of shifts in demand and supply. (Short Run Only)

Simple Applications of Demand and Supply: Price ceiling, Price floor.

Part C: Project in Economics (20 Periods)
Guidelines as given in Class XII 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
  

  CBSE Syllabus 2024-25

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  How to Download the CBSE Class 11 Economics Syllabus 2024-25:

  1. Visit myCBSEguide website.
  2. Use the search bar to find “Class 11 Economics Syllabus.”
  3. Click on the relevant syllabus link for the 2024-25 session.
  4. Download the syllabus in PDF format by clicking the download button.

  Alternatively, install the myCBSEguide App from Google Play or the App Store, log in, and download the syllabus directly from the app.

  Frequently Asked Question:

• When will the CBSE 2025 syllabus be released?

  The CBSE 2025 syllabus has already been released by the board. Students can now access the updated syllabus for all subjects, including the CBSE Class 11 Economics Syllabus 2024-25. This syllabus is available in PDF format, offering a convenient way for students to download and review the topics they need to focus on in preparation for their exams.

  For those aiming to excel in their studies, it’s essential to stay informed and use reliable study resources. The myCBSEguide website provides the latest syllabus for all CBSE subjects, helping students stay aligned with the curriculum. The myCBSEguide App platform also offers a range of educational materials such as sample papers, chapter-wise test papers, NCERT solutions, and revision notes, all designed to streamline exam preparation.

  Additionally, educators can take advantage of the Examin8 App and Examin8 Website to create customized mock tests and practice papers tailored to their students’ needs.