ISC Class 11 Economics Syllabus

ISC Class 11 Economics Syllabus for 2023-24

The Council conducts the Indian School Certificate or ISC Examination for Indian School Certificate Examinations. To be eligible for the ISC Examination, students should attend full-time Classes at any ISC affiliated school. The ISC Board is very dISCiplined and systematic in the way Examinations are conducted and results declared. The Board is also known for its comprehensive Syllabus and well-structured curriculum. ISC Board is more focused on overall growth and balanced with an equal focus on language, arts and science. 

Economics is regarded as both a science as well as an art. Economics practises its theoretical laws and applies them practically like arts. Economics is a science that enables learning of human behaviour, which focuses on allocating scarce resources so that producers can maximise their profits, consumers can maximise their satisfaction, and society can maximise its social wellbeing.

Economics is all about making choices in the existence of scarcity. The ISC Class 11 Economics Syllabus is exciting to study and familiarises you with the tools of Economics and gives clarity on the subject. You will learn to think strategically and make decisions to improve the outcome. Economics students generally choose careers such as

  • Market Research Analyst
  • Economist
  • Financial Risk Analyst

and many more.

Extramarks is here to assist students of ISC Economics Class 11 by providing all the information about ISC Examinations for Economics and other subjects as well. 

ISC Class 11 Economics Syllabus 2023-24 – Semester (1 & 2)

Begin your preparation by studying from the Notes created by Extramarks. According to the latest Examination Syllabus and pattern, all topics and concepts are covered. The best way to score high marks in the Examination is to practise ICSE Sample Question Papers, ICSE Important Questions and Past Year Question Papers by Extramarks.


(Marks: 40)


(Marks: 40)

Unit No.              Name of unit Unit No.                          Name of unit
1. Micro Economic Theory 2. Theory of Income and Employment
3. Money and Banking
4. Balance of Payment and Exchange Rate
5. Public Finance
6. National Income

The study of ISC Class 11 Economics Syllabus enables students to expand their understanding of concepts, facts, assumptions, hypotheses and processes in Economics. To realise the importance of economic problems and the implementation of practical solutions, students will have to learn the overall functioning of the economy. They will also have to learn to observe the economic structure of any country.

ISC Class 11 Economics: Paper Pattern

The ISC Class 11 Economics Syllabus is divided into two parts for Examinations:


Paper 1

Part 1 – 1 question – compulsory – 20 marks

Part 2 – 8 questions – answer any 5 questions – 60 marks

Paper 2

Project work – 20 marks


To know the detailed marking scheme, visit ISC Class 11 Economics Syllabus marking scheme page on Extramarks.

ISC Class 11 Economics Syllabus & Study Materials 2023-24

The Extramarks website presents you new and updated ISC Class 11 Economics Syllabus as per ISC regulations. The Extramarks also cater Syllabus of all other subjects for the Class 11 Indian School Certificate. Students can clear their doubts by clicking on the links to prepare for the upcoming Economics Board Examinations.

ISC Class 11 Economics Syllabus 

ISC Class 11 Economics – Textbooks 

ISC Class 11 Economics – Study Notes

ISC Class 11 Economics – Sample Papers

This was all about ISC Class 11 Economics Syllabus. Go through the Extramarks website to know elaborately on the subject where you can read all the content for free. You can always follow Extramarks to get expert guidance from some highly qualified professors and teachers. 

ISC Economics Class 11 Syllabus

Part 1 (20 marks) consists of compulsory short answer questions testing knowledge, application and skills relating to elementary / fundamental aspects of the entire syllabus.

Part II (60 marks) consists of eight questions out of which you are required to answer five questions, each carrying 12 marks.

1. Understanding Economics

(i) Definition of Economics: Adam Smith, Alfred Marshall, Lionel Robbins, Samuelson.

(ii) Micro and Macro Economics – Meaning and Difference. Basic concepts: utility, price, value, wealth, welfare, money, market, capital, investment, income, production, consumption, saving, Business cycle, Aggregate demand and Aggregate supply.

(iii) Basic problems of an economy: what to produce; how to produce; for whom to produce; efficient use of resources.

(iv) Types of economies: developed and developing; Economic systems: capitalism, socialism and mixed economy; mechanism used to solve the basic problems faced by each economy.

2. Indian Economic Development

(i) Introduction.

(ii) Parameters of Development.

(iii) Planning and economic development in India.

(iv) Structural Changes in the Indian Economy after liberalization.

(v) Current challenges facing Indian Economy.

(vi) Economic growth and development.

(vii) Sustainable Development.

3. Statistics

(i) Statistics: definition, scope and limitations of statistics.

(ii) Collection, organization and presentation of data.

(iii) Measures of Central Value: average defined; type of averages: arithmetic mean; simple and weighted; median and mode; ungrouped and grouped data; numericals, relationship between mean, median and mode.

(iv) Measures of dispersion: definition, methods of studying variation – range; standard deviation; quartile deviation; the mean or average deviation; coefficient of variation.

(v) Correlation: introduction, scatter diagram; Karl Pearson’s coefficient of correlation; Spearman’s coefficient of correlation.

(vi) Index numbers: simple and weighted – meaning, types and purpose. Problems involved in constructing a Price Index Number.

(vii) Some Mathematical Tools used in Economics.

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FAQs (Frequently Asked Questions)

1. Is Economics Class 11 challenging?

It’s more interesting to study 11th grade Economics because it covers all the basic concepts and facts according to the latest Examination pattern and Syllabus. Economics can be demanding like any other academic subject. Refer to ISC Class 11 Economics Syllabus and prepare with ICSE Revision Notes and ICSE Question Paper at Extramarks. Going through past years’ Question Papers and practicing mock tests will help you score good marks.


2. What is the significance of Economics Class 11?

Economics plays a vital role in our daily life. It teaches us how to achieve optimum satisfaction from scarce available resources. You can get the central idea behind all its concepts better by looking at figures and models in the ISC Class 11 Economics Syllabus on the Extramarks website.

3. How to score well in Class 11 Economics?

The Extramarks website provides ideas and strategies to score well in ISC Class 11 Economics. 

  • Highlight the essential points and write your answer in points to raise clarity.
  • Follow a pattern to write the answer. Draw or plan before you start to write.
  • Draw graphs wherever required to make the solution appear better and easier to understand.

4. Do Economics need mathematical calculations?

Statistics is used in Economics more than Mathematics. The calculations are effortless to follow. You will get detailed notes on ISC & ICSE Syllabus, ICSE Solutions, and ISC Class 11 Economics Syllabus from the Extramarks website. Extramarks’ proficient faculty has improved note visibility and readability to facilitate Examination preparations.