Class 11 Economics Syllabus 2021-22
In the latest update from Central Board of Secondary Education (CBSE), a circular has been issued where the syllabus for academic year 2021-22 has been updated. This syllabus has been updated for Class 11th Economics.
Earlier a notice was issued where it was stated that from 2022 onwards, there will be two term exams for Class 11th. This decision has been taken on the based on this year board exams condition. Which had to be cancelled due to covid-19.
For the academic year 2021-22, the board is also aiming to make internal assessment, practical, project work more credible and valid for ensuring the fair distribution of marks, an official statement said.The revised syllabus will have two terms, term 1 and term 2. Both the terms will have 50% of the total syllabus. This will reduce the final exam pressure on the students and the parents. Teachers can easily cover 50% of the syllabus in 6 months.
Class 11 Economics Syllabus 2021-22 Pdf Download
The first term exam will be based on MCQ type question and it will be conducted from November to December. The second term exam will have mixed type questions like long answers, short answers, MCQ’s, True or False, etc. It will be conducted from March to April.
Class 11 Economics Syllabus 2021-22 for Term 1 & Term 2
Economics is one of the social sciences, which has great influence on every human being. As economic life and the economy go through changes, the need to ground education in children’s own experience becomes essential. While doing so, it is imperative to provide them opportunities to acquire analytical skills to observe and understand the economic realities.
● Understanding of some basic economic concepts and development of economic reasoning which the learners can apply in their day-to-day life as citizens, workers and consumers.
● Realisation of learners’ role in nation building and sensitivity to the economic issues that the nation is facing today.
● Equipment with basic tools of economics and statistics to analyse economic issues. This is pertinent for even those who may not pursue this course beyond senior secondary stage.
● Development of understanding that there can be more than one view on any economic issue and necessary skills to argue logically with reasoning
Both term syllabus divided into 3 parts. Part A Statistics for Economics and part B Introductory Microeconomics. Both cover 40 marks and part C cover 10 mark which is a project work
Subject – Economics
Class Xi -Term wise curriculum
Students would prepare only ONE project in the entire academic session, which is divided into 2 terms i.e. Term I and Term II. Project work marks – 10
Class 11 Economics Syllabus Term 1
Part A: Statistics for Economics (23 marks)
Unit 1: Introduction – this unit cover what is Economics? Meaning, scope, functions and importance of statistics in Economics
Unit 2: Collection, Organisation and Presentation of data Collection of data – this unit cover 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 Measures of Central Tendency- this unit cover Arithmetic mean, median and mode
Part B: Introductory Microeconomics (17 marks)
Unit 4: Introduction Meaning of microeconomics and macroeconomics; this unit cover positive and normative economics What is an economy? Central problems of an economy: what, how and for whom to produce; opportunity cost.
Unit 5: Consumer’s Equilibrium and Demand Consumer’s equilibrium – this unit include
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.
Part C: Project in Economics – Guidelines of project given below
Part A: Statistics for Economics (17 marks)
Unit 3: Statistical Tools and Interpretation Measures of Dispersion – this unit includes absolute dispersion standard deviation); relative dispersion coefficient of variation) Correlation – meaning and properties, scatter diagram;
Measures of correlation – Karl Pearson’s method (two variables ungrouped data)
Introduction to Index Numbers – meaning, types – wholesale price index, consumer price index, uses of index numbers; Inflation and index numbers.
Class 11 Economics Syllabus Term 2
Part B: Introductory Microeconomics (23 marks)
Unit 6: Producer Behaviour and Supply Meaning of Production Function –this unit cover
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. 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. This unit includes-
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 for a project as given below
Guidelines for Project Work: 20 Marks
Only ONE Project is to be done throughout the session
TERM-I PROJECT WORK (Part 1): 10 Marks and the teacher will assess the progress of the project work in the term I in the following manner:
TERM- II – PROJECT WORK (Part 2): 10 Marks and the teacher will assess the progress of the project work in the term II in the following manner:
In the project work Expected Checklist will be:
· 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.
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CBSE Class 11 Economics Syllabus 2021-22 for Term 1 & Term 2: FAQs
Q.1. What are the key skills that student attains from Economics course?
Answer: The study of economics uniquely enriches the student with analytical and problem
solving skills in addition to the knowledge of functioning of markets, agent’s behaviour, and
economy at large.
Q.2. How many courses of Economics will the student need to study if she chooses
Economics as main option in BA Program?
Answer: Student with Economics as main subject in BA program, studies one course of
economics in each of the first four semesters.
Principles of Microeconomics (I and II) and Principles of Macroeconomics (I and II) are taught
in first and second year respectively.
Q.3. Is the student required to have Economics and/or Mathematics in class 11th or 12th to
opt for Economics as main subject in BA program?
Answer: Unlike honors course, studying Economics in BA Program does not require student to
have studied Mathematics or Economics up to Class 12.
Q.4. If student does not opt for Economics as main subject, is there any other way of
attaining training in Economics?
Answer: BA program and BCom program students can also choose Economics as their Generic
Elective in third year, wherein they can study Economic Development course and
Microeconomics (and Macroeconomics) courses respectively.
Q.5. What kind of opportunities can a BA program student with Economics option expect
for higher studies?
Answer: Choosing Economics as main subject in BA program can be a passport to an array of
related Master’s courses, the most obvious being M.A. Economics. Also other relevant
postgraduate courses including Business Administration (MBA), Finance, Management,
International Relations, Political Science or Public Policy can be studied.
Q.6. How does Economics study expand student’s career options?
Answer: The interdisciplinary nature of the subject, compounded with its rigor, opens a plethora
of doors for an Economics graduate in areas spanning from Academics, Indian Economic
Services (IES), Public Policy, Management, Consulting, Analytics, Finance, Actuarial Science.