Everything You Need to Know About Economics Class 11

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Economics Class 11

Economics is a division of social science, which studies the way to use scarce resources to produce valuable commodities and distribute them among different sections of society. It is among the choicest subjects for those willing to opt for Commerce or Humanities in class 12th. The most sought outboard of examination in India, Central Board of Secondary Education (CBSE) provides a very comprehensive syllabus of Economics class 11 by providing a basic understanding of the need and general economic terms. In this blog, we will bring light on the modules covered in the syllabus of Economics class 11th.

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Class 11 Economics Syllabus 2021-2022

Tabulated below is the class 11 Economics syllabus for the academic year 2021-2022:

 Units Chapters Marks  Periods
Part A Statistics for Economics    
Unit 1 Introduction 13* 07
Unit 2 Collection, Organisation and Presentation of Data 13* 27
Unit 3 Statistical Tools and Interpretation 27 66
    40 100
Part B Introductory Microeconomics    
Unit 4 Introduction   4   8
Unit 5 Consumer’s Equilibrium and Demand   13   32
Unit 6 Producer Behaviour and Supply   13   32
Unit 7 Forms of Market and Price Determination under Perfect Competition with Simple Applications   10   28
      40 100
Part C Project Work   20   20

* Unit 1 and 2 of Part A together hold a weightage of 13 marks.

Check Out: Rural Development Courses

Class 11 Economics Syllabus: Deleted Section 

For the academic session 2020- 2021, the following topics have been removed from the syllabus of class 11 Economics-

Part A: Statistics for Economics 

Unit 3: Statistical Tools and Interpretation

  • Measures of Dispersion – (range, quartile deviation, mean deviation and); (coefficient of range, coefficient of quartile-deviation, co-efficient of mean deviation
  • Correlation –Spearman’s rank correlation
  • Index Numbers – index of industrial production

Part B: Introductory Microeconomics 

Unit 4: Introduction

  • Concepts of production possibility frontier

Unit 6: Producer Behaviour and Supply

  • Producer’s equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost.

Unit 7: Forms of Market and Price Determination

  • Other Market Forms: monopoly, monopolistic competition – their meaning and feature

Also Read: Career in Financial Economics

Economics Class 11

Chapters in Class 11 Economics Syllabus

Here is the list of chapters covered under the Part A and B of the class 11 Economics syllabus-

Part A: Statistics for Economics

  • Chapter 1 – Indian Economy on the Eve of Independence
  • Chapter 2 – Indian Economy (1950 – 1990)
  • Chapter 3 – Liberalisation, Privatisation and Globalisation: An Appraisal
  • Chapter 4 – Poverty
  • Chapter 5 – Human Capital Formation In India
  • Chapter 6 – Rural Development
  • Chapter 7 – Employment Growth, Informalisation and Other Issues
  • Chapter 8 – Infrastructure
  • Chapter 9 – Environment And Sustainable Development
  • Chapter 10 – Comparative development Experiences Of India and Its Neighbors

Part B: Introductory Microeconomics

  • Chapter 1 – Introduction
  • Chapter 2 – Collection of Data
  • Chapter 3 – Organisation of Data
  • Chapter 4 – Presentation of Data
  • Chapter 5 – Measures of Central Tendency
  • Chapter 6 – Measures of Dispersion
  • Chapter 7 – Correlation
  • Chapter 8 – Index Numbers

Chapter 9 – Use of Statistical Tools

Also Read: PhD in Economics

Class 11 Economics Sample Paper 2020-21

To help you score better in your upcoming examinations, here are some of the saple paper for class 11 Economics-

Study Tips for Economics Class 11

Economics Class 11 plays an essential role in building the foundation of major economic theories and concepts that are further studied at an advanced level in Class 12 Economics. To help you prepare for the economics exam, here are the major study tips and strategies you can utilise to get a higher score:

  • Master all the major concepts of Indian Economic Development and Statistics through NCERT Books as they can be your essential guide in understanding every topic in a simple manner as well as practising important questions.
  • There are many reference Economics books you must have while exploring different concepts and some of the popular ones for Class 11 & 12 are by T.R. Jain, T.S. Grewal, V K Ohri and CB Sachdeva.
  • Don’t cram up definitions but understand them thoroughly and explain in your own language.
  • Make sure to create tables to explain the difference between any two concepts asked in the exam.
  • For formulas and economics theories, use graphic presentation like tables, charts, graphs, etc. as they can help you achieve better scores.
  • For numericals, practice as many questions as possible before the exam as this will help you remember the formulas better and understand the type of questions that might come in the exam.

For those of you who want to take up higher education in the subject after completing high school, have an array of specializations to signup for. Here are some of the leading subdivisions of BA Economics that can become your dream course:

Agricultural Economics Business Economics
Managerial Economics Financial Economics

FAQs

Is Class 11 Economics difficult?

Class 11 Economics is not everyone’s cup of tea. But with constant practice and revision, you can ace the subject.

What are the chapters of Class 11 economics?

The chapters covered under Class 11 Economics are-
Part A: Statistics for Economics
Chapter 1 – Indian Economy on the Eve of Independence
Chapter 2 – Indian Economy (1950 – 1990)
Chapter 3 – Liberalisation, Privatisation and Globalisation: An Appraisal
Chapter 4 – Poverty
Chapter 5 – Human Capital Formation In India
Chapter 6 – Rural Development
Chapter 7 – Employment Growth, Informalisation and Other Issues
Chapter 8 – Infrastructure
Chapter 9 – Environment And Sustainable Development
Chapter 10 – Comparative development Experiences Of India and Its Neighbors

Part B: Introductory Microeconomics
Chapter 1 – Introduction
Chapter 2 – Collection of Data
Chapter 3 – Organisation of Data
Chapter 4 – Presentation of Data
Chapter 5 – Measures of Central Tendency
Chapter 6 – Measures of Dispersion
Chapter 7 – Correlation
Chapter 8 – Index Numbers
Chapter 9 – Use of Statistical Tools

Who is the father of economics?

Adam Smith is known as the father of Economics.

Why do we study economics class 11?

In order to learn how one can achieve social welfare and get maximum satisfaction with limited resources, it is important for one to study the course of Economics.

This was all about Economics class 11 chapters and important topics. If you are planning to make a career in Economics, but are not sure about the ways to do it, seek help from Leverage Edus AI-based tool and explore a wide range of programs and universities to find a suitable combination that fits your interests. Book your free career counselling session with us to make a great career ahead!

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