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Economics
Class 11-
30Lectures
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11:6:11Duration
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Course description
CBSE Syllabus for Class 11 Economics
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 pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools to analyze and interpret any economic information and draw appropriate inferences. In this process, the 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 interpretation for the results derived.
Measures of Central Tendency – Arithmetic mean, median and mode.
Measures of Dispersion – absolute dispersion standard deviation); relative dispersion co-efficient 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.
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, 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.
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.
TERM 1 - MCQ BASED QUESTION PAPER of 40 marks of 90 minutes
Part A Statistics for Economics
Introduction
Collection, Organisation and Presentation of Data
Statistical Tools and Interpretation – Arithmetic Mean, Median and Mode
Part B Introductory Microeconomics
Introduction
Consumer's Equilibrium and Demand
Part C Project Work (Part 1): 10 Marks
TERM 2 - SUBJECTIVE QUESTION PAPER of 40 marks of duration 2 hrs.
Part A Statistics for Economics
Statistical Tools and Interpretation – Measures of Dispersion, Correlation, Index Number
Part B Introductory Microeconomics
Producer Behaviour and Supply
Forms of Market and Price Determination under perfect competition with simple applications
Part C Project Work (Part 2): 10 Marks
Tags
Statistics for Economics, Introductory Microeconomics
Course content
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2CHAPTERS
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30Videos
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0Pdfs
Unit 1- Introduction - Statistics In Economics, Organization and Presentation of Data - Lecture 1
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Course Features
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LanguageEnglish
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CategoryClass 11
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AvailablityFull Time
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Training Assessment No
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Certification No
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Last updated02 May,2023
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Course by:Hunar India
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