CBSE (Central Board of Secondary Education) releases every year CBSE Class 11 Economics Syllabus 2023-24 for next year’s board exam. Students of class 11 who are preparing for the academic session 2023-24. They should download this latest CBSE Class 11th Economics Syllabus and read each and every topic mentioned in the latest syllabus.
CBSE Class 11 Students who are preparing for CBSE Board Exam 2023-24 can download the latest CBSE Class 11 Economics syllabus 2023-24 through the direct link given in the article or the official website of CBSE at cbseacademic.nic.in. Class 11 aspirants read the latest CBSE Economics Syllabus 2022-23 given below carefully and prepare according to the same syllabus for Board Exam 2024.
Importance of CBSE Class 11 Economics Syllabus 2023-24
Economics is one of the social sciences, which has a great impact on every human being. As economic life and the economy undergo changes, it becomes necessary to base education on children’s own experiences. While doing so, it is imperative to provide them with opportunities to acquire analytical skills to see and understand economic realities.
At the higher secondary level, learners are in a position to understand abstract ideas, exercise their thinking power, and develop their own perceptions. It is at this stage, that the learners are exposed to the rigors of the discipline of economics in a systematic manner.
Economics courses are offered in such a way that at the initial stage, the learners are introduced to the economic realities that the nation is facing today, along with some basic statistical tools to understand these macroeconomic realities. At a later stage, learners are introduced to economics as a principle of abstraction.
The economics curriculum also includes a number of projects and activities. These will provide opportunities for the learners to explore various economic issues in their daily lives and also those issues which are pervasive and invisible in nature. The academic skills they learn in these courses will help develop projects and activities. The curriculum is also expected to provide opportunities to use information and communication technologies to facilitate their learning process.
CBSE Class 11th Economics Syllabus 2023-24 Course Structure
|Statistics for Economics
|Introduction (10 Periods)
Collection, Organisation, and Presentation of Data (30 Periods)
|Statistical Tools and Interpretation (50 Periods)
|Introduction (10 Periods)
|Consumer’s Equilibrium and Demand (40 Periods)
|Producer Behaviour and Supply (35 Periods)
|Forms of Market and Price Determination under
perfect competition with simple applications (25 Periods)
|Project Work (20 Periods)
Part A: Statistics for Economics
In this course, learners are expected to acquire skills in the collection, organization, and presentation of quantitative and qualitative information relating to various simple economic aspects. It also intends to provide some basic statistical tools for analyzing, and interpreting any economic information and drawing appropriate conclusions. In the process, learners are also expected to understand the behavior of various economic data.
Unit 1: Introduction
What is Economics?
Meaning, scope, functions, and 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 and National Sample Survey Organisation.
Organization 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 interpretations for the results derived.
Measures of Central Tendency– Arithmetic mean, median, and mode
Correlation – meaning, 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 a production possibility frontier and opportunity cost.
Unit 5: Consumer’s Equilibrium and Demand
Consumer’s equilibrium – meaning of utility, marginal utility, the 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
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 the 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.
Part C: Project in Economics
Guidelines as given in the class XII curriculum
CBSE Class 11 Economics Syllabus PDF: Download
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