Economics Class 11 Syllabus 2024-25

CBSE Syllabus for Class 11 Economics 2024–25

The Economics courses are introduced in such a way that in the beginning, the students are exposed to the key issues facing the Indian economy, and to sensitise the students about the issues, critically analyse the role of the government in various economic spheres along with some fundamental statistical tools to understand them better. The learners are informed about the concept of economics as an abstract theory at a later level in the CBSE Class 11 Economics syllabus. 

Numerous projects and activities are included in the Economics curriculum as well. These will give students the chance to investigate a range of economic challenges which pertain to their daily lives.

Economics Syllabus Class 11

The CBSE Class 11 Economics syllabus 2024-25 has been released by the CBSE board. Students can access the syllabus from the Extramarks website or smartphone app in the PDF format. Extramarks has created an easy-to-read version of the latest Class 11 Economics syllabus for the students’ benefit.

CBSE Class 11 Economics 2024-25 Course Structure

Here is the detailed structure of CBSE class 11 economics for the year 2024-25 is mentioned below in table:

CBSE Class 11 Economics Syllabus 2024-25

The detailed CBSE syllabus for Class 11 Economics is given below.

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

• Measures of Central Tendency – Arithmetic mean, median and mode
• Measures of Dispersion – 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

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; 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.

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.
• 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: Perfect Competition – Price Determination and 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.

Part C: Project Work

Only ONE Project is to be done throughout the session. The 20 marks assigned for Project Work can be divided into two terms. Students may work upon the following lines as a suggested flow chart: 

1. Choose a title/topic
2. Collection of the research material/data 
3. Organisation of material/data Present material/data
4. Analysing the material/data for conclusion 
5. Draw the relevant conclusion 
6. Presentation of the Project Work

• The project work can be in the form of PowerPoint Presentation/Exhibition/Skit /albums/files/song and dance or culture show /story telling/debate/panel discussion, paper presentation and so on. 
• Any of these activities which are suitable to visually impaired/differently abled candidates can be performed as per the choice of the student
• Project Work has broadly the following phases: Synopsis/ Initiation, Data Collection, Data Analysis and Interpretation, Conclusion

CBSE Class 11 Economics Question Paper Design 2024–25

CBSE Class 11 Economics 2025 exam paper will have questions that will assess students’ memory, comprehension, application, analysis, and evaluation skills. Each component will assist pupils in achieving the marks assigned for that specific type. For further details, see the stuff below:

How to Score Good in Class 11 Economics?

Economics can be a tough subject to score well in in exams. However, the experts at Extramarks have compiled a list of time tested and proven tips to stand out in these exams. Students can incorporate them into their preparation strategy to score high grades.

Some of the useful tips are as follows:

• Make a habit of studying the Economics subject NCERT Books daily. Read at least 4-5 pages every day.
• Try to practice answer writing from CBSE sample papers after learning any new topic or after completion of any chapter from the CBSE syllabus.
• Try to cover the microeconomics portion first and then proceed to statistics.
• Students must focus more on the numerical portion of statistics and learn the formulas for mean, median, mode, correlation, standard deviation, etc. to master the topic.
• Evaluate the CBSE previous year question papers and integrate them into daily study sessions.
• Include examples, diagrams and flowcharts while answering questions.
• Check out the CBSE extra questions on Extramarks to be prepared for any type of questions from the CBSE syllabus. 

Learning Definitions and Meanings

Definitions and meanings are an important part of preparation. Some of the useful tips are given below:

• In order to learn definitions, students must first understand the meaning of the terms involved in the economic context and not in the literal sense.
• Definitions require a formal structuring of the sentence and thus, learners are expected to memorise them.
• Make a list of definitions in a separate notebook and revise it often to commit it to memory.
• The correct definition will guarantee good grades in the exams.

Difference Between Questions:

Some questions can be highly scoring while others may be difficult to get right. Students should keep the following points in mind when attempting questions during exams:

• Questions that require the direct statement of facts will fetch high marks.
• Make a neat and clean table to explain details while answering questions.
• The answers should be adequately spaced.
• Give relevant examples wherever applicable.
• All points must be valid and to the point because examiners tend to dislike answers that beat around the bush.
• Students should use tabulations, graphs and flowcharts to accentuate their answers.
• Refer to CBSE important question papers provided by Extramarks to note which questions to attempt and how to write better answers.
• Make use of CBSE revision notes from Extramarks to draft answers.

The subject of Economics is broadly demarcated into four types. 

Namely

• Traditional Economy
• Market Economy
• Command Economy
• Mixed Economy

Benefits of Economics Class 11 Syllabus

Every student should access the CBSE Class 11 Economics syllabus before starting to learn new topics. Extramarks has made the syllabus easily accessible in a PDF format, so students can access the same.

• Going through the syllabus will narrow down the topics to be read.
• It highlights the high scoring topics as weightage of the units are mentioned.
• It also has relevant information about the marks’ distribution in both terms.
• The syllabus contains all guidelines regarding the project work, methods of submission and presentation.
• The syllabus has provided information about viva voce to be conducted by both internal and external examiners.
• Students often tend to memorise the entire text which has little relevance with relation to the examinations, so adhering to the syllabus helps avoid those irrelevant material and cuts down unnecessary stress.
• Adhering to the syllabus is helpful in providing a bird’s eye view of the examination and that saves time.