# CBSE Class 11 Economics Syllabus for 2021-22

Term-based Reduced Syllabus

We have also provided the syllabus for the 2021-22 session that was previously restored so that you can compare the deleted and added topics.

Syllabus Previously Restored

<red> Marked in red: <red> Topics <red> removed <red>for 2021-22

Units Unit Names Marks
Term I Term II
A Statistics for Economics
Introduction 04 -
Collection, Organisation and Presentation of Data 09 -
Statistical Tools and Interpretation - Arithmetic Mean, Median and Mode 10 -
Statistical Tools and Interpretation – Measures of Dispersion, Correlation, Index Number - 17
B Introductory Microeconomics
Introduction 04 -
Consumer's Equilibrium and Demand 13 -
Producer Behaviour and Supply - 13
Forms of Market and Price Determination under perfect competition with simple applications - 10
C PROJECT WORK
(Period Work (05) + Assessment (05))
10 10
TOTAL 100

NOTE: Students would prepare only ONE project in the entire academic session, which is divided into 2 terms i.e. Term I and Term II.

### TERM I

#### Part A: Statistics for Economics

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.
• 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

• <red> 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. <red>
• Measures of Central Tendency: Arithmetic mean, median and mode

#### Part B: Introductory Microeconomics

Unit 4: Introduction

• 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

• 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.

### TERM II

#### Part A: Statistics for Economics

Unit 3: Statistical Tools and Interpretation

• Measures of Dispersion: absolute dispersion (<red> range, quartile deviation, mean deviation and <red> standard deviation); relative dispersion (<red> coefficient of range, coefficient of quartile-deviation, coefficient of mean deviation, <red> coefficient of variation)
• Correlation: meaning and properties, scatter diagram; Measures of correlation - Karl Pearson's method (two variables ungrouped data) <red> Spearman's rank correlation. <red>
• 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 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: <red> Law of Variable Proportions <red>
• 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.
• <red> Producer's equilibrium: meaning and its conditions in terms of marginal revenue - marginal cost. <red>
• 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.

• Perfect competition: Features; Determination of market equilibrium and effects of shifts in demand and supply.
• <red> Other Market Forms: monopoly, monopolistic competition - their meaning and features. <red>
• Simple Applications of Demand and Supply: Price ceiling, price floor.