Economics – Class 11 Curriculum
Part A: Statistics for Economics (40 Marks)
📊 Unit 1: Introduction
Topics Covered:
What is Economics?
Meaning, scope, functions & importance of statistics in economics
Learning Focus:
Understand the role of statistics in economic analysis
🗂️ Unit 2: Collection, Organisation & Presentation of Data
Topics Covered:
Collection of Data:
Primary & secondary data
Census of India, NSSO
Sampling and methods of collection
Organisation of Data:
Variables, frequency distribution
Presentation of Data:
Tabular
Diagrammatic: Bar diagrams, pie charts, histograms, polygons, ogives
Graphs: Time series (line graphs)
Learning Focus:
Develop skills for collecting and presenting real-world economic data
📚 Unit 1: Introduction to Microeconomics
Part B: Introductory Microeconomics (40 Marks)
Topics Covered:
Meaning of Micro and Macroeconomics
Positive and Normative Economics
Central Problems of an Economy: What, How, For Whom
Production Possibility Frontier (PPF) & Opportunity Cost
Learning Focus:
Build foundational understanding of how economies operate and allocate resources
Part C: Project Work (20 Marks)
🧪 Suggested Project Topics:
Effects on PPC due to government policies
Adam Smith’s “Invisible Hand”
Opportunity Cost in Real Life
Price Changes in Substitute/Complementary Goods (field survey)
Equilibrium Prices in Local Markets
Solar Energy vs Conventional Energy Comparison
Bumper Crop Production: Boon or Bane
Evaluation of news articles using economic principles
Any other relevant economic topic
📈 Unit 3: Statistical Tools and Interpretation
Topics Covered:
Measures of Central Tendency: Mean, Median, Mode
Correlation:
Meaning, properties
Scatter Diagram
Karl Pearson’s Method (Ungrouped data)
Spearman’s Rank Correlation (Repeated and Non-Repeated Ranks)
Index Numbers:
Meaning and types: WPI, CPI, IIP
Inflation and Index Numbers
Simple Aggregative Method
Learning Focus:
Analyze and interpret economic data using statistical tools
💸 Unit 2: Consumer's Equilibrium and Demand
Topics Covered:
Utility, Marginal Utility, Law of Diminishing Marginal Utility
Consumer's Equilibrium using marginal utility analysis
Demand & Market Demand:
Determinants, schedule, curve, slope
Movements vs Shifts in the Demand Curve
Price Elasticity of Demand:
Factors affecting it
Measurement: Percentage-change method, Total expenditure method
Learning Focus:
Understand consumer behavior and responsiveness to price changes
🏭 Unit 3: Producer Behaviour and Supply
Topics Covered:
Production Function – Short-run and Long-run
Laws of Returns: Total, Average, Marginal Product
Cost Concepts: TC, TFC, TVC, AC, AFC, AVC, MC
Revenue Concepts: TR, AR, MR
Producer’s Equilibrium – MR=MC
Supply & Market Supply:
Determinants, curve, elasticity (percentage method)
Learning Focus:
Learn how firms make production and supply decisions
💹 Unit 4: Markets and Price Determination
Topics Covered:
Perfect Competition:
Features, price determination (short-run only)
Effect of shifts in demand/supply
Applications of Demand & Supply:
Price Ceiling
Price Floor
Learning Focus:
Explore market functioning and real-life policy applications
📂 Project Guidelines:
Submit a project file at term end
Presentation and Viva based on project work
Economics – Class 12 Curriculum
Part A: Introductory Macroeconomics (40 Marks)
🧩 Unit 1: National Income and Related Aggregates (10 Marks)
Topics Covered:
What is Macroeconomics?
Basic concepts: consumption goods, capital goods, final & intermediate goods, stocks & flows
Gross vs Net Investment, Depreciation
Circular Flow of Income (Two-sector model)
National Income Methods:
Value Added/Product Method
Expenditure Method
Income Method
National Income Aggregates: GDP, NDP, GNP, NNP (Market Price & Factor Cost)
Real vs Nominal GDP, GDP Deflator, GDP and Welfare
💰 Unit 2: Money and Banking (6 Marks)
Topics Covered:
Money: Meaning & Functions
Supply of Money: Currency + Demand Deposits
Money Creation by Commercial Banks
Central Bank Functions (RBI):
Bank of Issue, Government’s Bank, Banker’s Bank
Credit Control: Bank Rate, CRR, SLR, Repo, Reverse Repo, OMO, Margin Requirements
💸 Unit 6: Development Experience (1947–90) and Economic Reforms Since 1991
(12 Marks)
Part B: Indian Economic Development (40 Marks)
Topics Covered:
State of Indian Economy at Independence
Goals & Role of Five Year Plans
Key Features, Problems & Policies:
Agriculture: Institutional Reforms, New Strategy
Industry: IPR 1956, SSI importance
Foreign Trade
Reforms Since 1991:
LPG Policy (Liberalisation, Privatisation, Globalisation)
Demonetisation
GST Overview
Part C: Project Work (20 Marks)
📁 Project Development Guidelines
Steps:
Choose a Topic
Research & Data Collection
Data Organisation
Presentation & Interpretation
Analysis & Conclusion
Final Report Preparation
📈 Unit 3: Determination of Income and Employment (12 Marks)
Topics Covered:
Aggregate Demand & Components
Consumption and Saving: APC, MPC, APS, MPS
Short-run Equilibrium Output
Investment Multiplier & its Mechanism
Full Employment vs Involuntary Unemployment
Problems of Excess and Deficient Demand
Corrective Measures: Fiscal & Monetary Policies
🔍 Unit 7: Current Challenges Facing Indian Economy (20 Marks)
Key Focus Areas:
Human Capital Formation: Role in Development, Education Growth
Rural Development: Credit, Cooperatives, Diversification, Organic Farming
Employment: Formal vs Informal, Policy Measures
Sustainable Development: Impact on Resources & Environment, Global Warming
💼 Unit 4: Government Budget and the Economy (6 Marks)
Topics Covered:
Budget: Meaning, Objectives, Components
Receipts: Revenue vs Capital
Expenditure: Revenue vs Capital
Budget Types: Balanced, Surplus, Deficit
Measures of Government Deficit
🌍 Unit 5: Balance of Payments (6 Marks)
Topics Covered:
Meaning & Components
Surplus vs Deficit in BOP
Exchange Rate Systems:
Fixed, Flexible, Managed Floating
Exchange Rate Determination
Pros & Cons of Exchange Systems
🌏 Unit 8: Development Experience of India – Comparison with Neighbours (8 Marks)
Comparison Parameters:
India vs China vs Pakistan
Economic Growth
Population Trends
Sectoral Composition
Human Development Indicators
✅ Project File Checklist
Clear Topic Introduction
Identification of Causes, Consequences & Remedies
Impact on Various Stakeholders
Pros & Cons of Economic Issues
Short-term vs Long-term Impacts
Use of Relevant & Valid Data
Proper Citations (Footnotes, Resources, Bibliography)
📌 Suggested Project Topics
Goods & Services Tax (GST) and its Impact
Human Development Index
Digital India
Sustainable Development Goals (SDGs)
Waste Management in India
Exchange Rate Methods
Cashless Economy
Bumper Production: Boon or Bane
e-Rupee (e-₹)
Micro & Small Scale Industries
Silk Route – Revival and Trade
Government Budget Analysis
Trends in Indian Employment
Livestock and Rural Economy
Minimum Wage & Support Prices
Disinvestment Policy
Environmental Crisis
Comparative Economic Study (Max 3 countries)
Inclusive Growth Strategy
Role of Banks in Credit Control
Rainwater Harvesting
Organic & Vertical Farming
G-20: Action & Inclusivity
Any newspaper article evaluated with economic reasoning
