CBSE Class 11 NCERT Books for Economics PDF – Free Download
CBSE Class 11 Economics Book Free PDF on Extramarks
Students are introduced to various economic ideas throughout the course of the NCERT Class 11 Economics Book PDF, which also helps students in developing a deeper understanding of issues about production and consumption. Students who are interested in furthering their education in either macroeconomics or microeconomics will find that the NCERT book for Class 11 Economics PDF is quite beneficial to their endeavours.
The PDF version of the economics books for Class 11 and the NCERT syllabus in general will facilitate a less burdensome learning experience. These can be easily accessed. They will be able to make the most of the special layout and begin a productive learning session at any time and any location, regardless of location or time.
In light of this, let’s take a cursory glance at the various topics that are discussed throughout the book!
NCERT Economics Class 11 Book PDF for CBSE
Chapter 1: Indian Economy on the Eve of Independence
The first chapter of economics textbooks for class 11 provides a comprehensive overview of the state of the Indian economy immediately following the country’s declaration of independence. The chapter focuses on the difficulties that a failing economy and a lack of development brought about after 1947. Students will learn in great detail about the elements responsible for the stagnation of agriculture and the state of the industrial sector during the time that the British ruled.
In addition, this chapter discusses a variety of themes, including the following: the outflow of India’s riches; the demographic condition, the occupational structure; and the infrastructure. In addition, discussing issues such as India’s national and per capita income provides a reasonable understanding of Bengal’s textile industry and the state of foreign trade.
1) Stagnant Economy
At the time of independence, the Indian economy had not developed to its full potential. The economy had reached a standstill. It is believed that an economy is said to be stagnant when there is very little income or no growth in the economy.
2) Backward Economy
The economy was backwards, and the per capita income was extremely low.
3) Industrial Backwardness
There was a decline in the number of small-scale industries. The nation suffered from an inadequate supply of industrial goods.
4) Rampant Poverty
Because of unemployment and illiteracy, a significant portion of the population was extremely anxious. People could not even obtain enough food for two meals a day and did not have a place to live or clothes to wear.
5) Negligible Development of Infrastructure
The development of infrastructures, such as means of communication and transportation, as well as the production of electricity and other forms of energy, was quite limited at that time.
6) Heavy Dependence On Imports
Because the country could not produce its own machinery or other production equipment, it was forced to rely on imports.
7) Limited Urbanisation
When India first gained independence, most of its inhabitants still resided in rural areas. In 1948, cities were home to only 14% of the population, while villages were home to 86% of the population.
Chapter 2: Indian Economy (1950-1990)
More information for students regarding the state of the Indian economy after 1947 can be found in this section. Chapter 2 of the NCERT Economics Textbook for Class 11 gives us an overview of India’s 5-year plans and other modifications responsible for formulating various industry-specific developmental plans.
Students will receive succinct instruction in socialist economics, planned economies, and mixed economies. In addition, fundamental ideas like the objectives of 5-year plans and the significance, challenges, and potential solutions for agriculture are discussed within their context.
In addition to this, it familiarises us with other programmes, such as the Green Revolution. It helps us better understand the various types of economies and their characteristics. In turn, this will help in improving our understanding of how the policies and changes influence the economy as it is currently structured.
The Five Year Plans include the following objectives as their primary focus:
Achieving certain strategies and objectives is necessary to successfully complete each five-year plan.
- high growth rate
- modernization of the Economy
- Social equality
High Growth Rate: The term “growth” refers to an increase in the capacity of a country to generate goods and services and an increase in the total amount of those goods and services produced, i.e., an increase in the capacity of both productive capital and services, as well as a multi-stock of producer capital, supplementary services (such as transportation and banking), or other services. The growth of a nation’s economy can be measured by looking at the country’s gross domestic product. The Gross Domestic Product (GDP) is the market worth of all the products and services that are produced in a given year.
If we take the analogy of a piece of chocolate or cake, we can see that if we make the chocolate or cake larger, then more people will be able to enjoy eating it. According to the First Five Year Plan, if the standard of living of the people of India is going to improve and they will have more prosperity, then there needs to be a greater output of commodities and services.
The Gross Domestic Product considers contributions from the economy’s agricultural, service, and manufacturing sectors. These three different parts of the economy make up the structure of the overall economy. Various countries’ economies are supported to varying degrees by various economic sectors, the most important of which in some countries is the service sector. In contrast, in others, it is the agricultural sector.
Modernization of Economy: The producers have come around to the idea that new technology can help them increase their output of goods and services. Utilising recently developed methods constitutes modernisation. Changes in a nation’s ideological and social attitude, such as granting equal rights to women, are as important as the adoption of new technologies, such as the use of newly developed seed varieties in place of older ones to boost crop production. One example of this would be the substitution of old seeds for newer, more advanced seed varieties.
In more traditional societies, women were restricted to performing primarily domestic labour; however, in more recent societies, women have begun to receive opportunities to work in various economic fields. A society can only become civilised and rich once it has undergone modernization.
Self-Reliance: There are two strategies that can be implemented to speed up the process of the nation’s economic development and modernisation:
The utilisation of resources imported from many other nations
Use of one’s own resources
The first seven five-year plans placed greater emphasis on self-sufficiency, and they discouraged the importation of goods and services from other countries that might be produced domestically rather than purchasing them from other countries.
The primary effect of this approach was to lessen our reliance on the agricultural output of other nations. And there was no other option. Because there is a risk that our dependency on other countries could undermine our sovereignty, a country that has recently attained its independence must develop its capacity for self-sufficiency.
Similarity: If equality is not achieved, none of the three goals listed above will be able to raise the overall quality of life for the people who live in a nation. If less fortunate parts of the country cannot participate in modernisation, economic expansion, and increased self-reliance, then only wealthy people will reap the benefits of economic prosperity.
Therefore, for growth, self-sufficiency, and participation in modernisation, every Indian must have access to his primary needs such as food, housing, clothing, health, and education so that economic prosperity and inequality in the distribution of wealth are reduced. These primary needs include food, housing, clothing, health, and education.
NITI Ayog was established as the National Institute for Transforming the Nature of India (often known as NITI, or the National Institution of Transforming India).
Its objective is to ensure that decentralised decision-making plays a role in policymaking.
Chapter 3: Liberalisation, Privatisation and Globalisation – An Appraisal
The chapter above provides an overview of the historical context surrounding the transformative measures that were implemented to resuscitate the Indian economy. Students will get an understanding of the significance of economic reforms as well as the necessity of their implementation.
After that, students will understand fundamental ideas such as liberalisation, privatisation, and globalisation and the associated goals. In turn, the NCERT Economics Class 11 PDF helps students better understand topics such as direct taxes, indirect taxes, disinvestment, and policy initiatives regarding globalisation.
This chapter highlights the World Trade Organization’s roles and provides essential facts regarding that organisation. In addition, one will gain knowledge regarding the catastrophe that occurred at Sircilla and the broader failure of economic reforms.
Chapter 4: Poverty
After reading this chapter, students gain a better understanding of the notion of poverty and its influence on the economy of India as a whole. It is regarded as an important idea in the context of the NCERT Class 11 Economics Book PDF and the discipline of economics itself.
The notion of absolute and relative poverty and the correct definition of the poverty line will be presented to the class in a condensed form for the students to study. In addition, readers will have a greater understanding of the various classifications of poverty and the factors that contribute to it.
One will also become aware of the many different measures that prove effective in successfully battling the effects of poverty. The reader will also be able to have a more in-depth understanding of the many poverty alleviation programmes that the government of India has launched.
Chapter 5: Human Capital Formation in India
The idea of human resources and the process of creating them plays an important part in both the growth of the human population and the economy. In addition to elucidating the meaning of “human capital” and describing the steps involved in its production, this chapter helps readers differentiate between “financial capital” and “physical capital.”
The reader will understand the many factors that contribute to building human capital and the direct impact that these factors have on the economy. Take, as an illustration, what occurs when the productivity of physical capital goes up; one will learn about this.
The issues that are plaguing the nation’s human capital are discussed in this chapter as well. Nevertheless, the expansion of India’s educational system is another topic that is covered in the Economics NCERT Class 11 PDF book. In addition to this, having a better understanding of the RTE Act is helpful.
Chapter 6: Rural Development
In the fifth chapter of the NCERT Class 11 Economics PDF book, topics such as rural development, rural lending, and agriculture marketing are discussed in considerable detail. For example, students will understand rural credit, including the various forms it might take and the different places it can be obtained.
In addition, subjects such as organic farming, sustainable development, and the Golden Revolution are discussed in detail throughout this chapter. In addition, there is a discussion of rural banking, highlighting its primary benefits and significant downsides.
Similarly, they will understand the concept of sustainable development and the advantages and disadvantages of organic farming. Students will be able to increase their understanding of all of these areas by giving this chapter, which is available for download as a PDF, a brief read, which will be of major use to their preparation for the exam.
Chapter 7: Employment Growth, Informalisation and Other Issues
In this chapter of the NCERT Class 11 Economics Book PDF, students are introduced to the notion of employment growth, formalisation, and other themes linked to employment. For instance, readers will gain an understanding of the various forms of unemployment as well as suitable methods for overcoming each one.
When students read this book after downloading it in PDF format, they will have useful knowledge of the significant categories of workers in the world. Understanding the distribution of jobs according to rural versus urban areas and gender will also be helpful in this regard.
In addition, the chapter offers a detailed explanation of how to compute the unemployment rate and the labour participation rate in an organised and step-by-step format. It will help gain a better grasp of the distribution, which will, in turn, come in handy when attempting to answer problems based on the same.
Chapter 8: Infrastructure
It covers all those problems that can potentially affect India’s social and economic infrastructure. Students are provided with vital information regarding the many forms of infrastructure in the country and the relevance of this infrastructure after a brief reading of the NCERT 11 Economics PDF.
The text provides readers with specific information on the basic, secondary, and tertiary healthcare sectors in India, as well as an overview of the entire health infrastructure in the country. In addition to this, a brief overview of medical tourism in the country will be provided to them.
The PDF book can be downloaded from the website by students who want to learn more about the ideas and subjects that are related to them in general. They will also be given a concise overview of the current situation of women’s health.
Chapter 9: Environment and Sustainable Development
Students are given a concise explanation of the significance of the environment to the economy’s expansion in the ninth chapter of the economics textbook for the eleventh grade. This chapter focuses on the functions of the environment. In addition to this, the chapter places emphasis on the fundamental issues that are associated with the environment, such as pollution and excessive exploitation. Students can acquire knowledge about effective strategies for sustainable development by downloading the NCERT Class 11 Economics Book in PDF format and reading it.
However, for readers to understand and put into practice the idea of sustainable development in their own lives, they should first become familiar with the significant indicators of a major environmental crisis. For instance, a crisis such as global warming, which contributes to the depletion of the ozone layer and land degradation, has emerged as one of the primary causes of the loss of biodiversity.
Chapter 10: Comparative Development: Experiences of India and its Neighbours
The final chapter of the Economics NCERT Class 11 PDF book helps understand and compare the development of India’s neighbouring countries, such as Pakistan, China, Bangladesh, and others.
It will be helpful to better understand the comparison indicators if you have read the chapter in its entirety. On the other hand, it will help assess the development of functional strategies adopted by nearby countries.
The students will further familiarise themselves with the foreign direct investment landscape and the demographic profile of neighbouring countries. The reader will be able to better understand the country’s developmental strategies and policy-oriented failures as a result of reading this.
Why Refer to Economics Book Class 11 by NCERT?
It is common practice to find that referring to NCERT Class 11 Economics Book PDF downloads improves students’ overall learning experience. NCERT books are the books that are preferred by the majority of subject teachers and students to improve their understanding of the subject’s curriculum. In turn, this makes it significantly easier for them to prepare for their exams and helps them achieve better results in those exams.
The following is a list of the many reasons why every student should download the Class 11 Economic book in PDF format and incorporate it into their study routine:
- Students at all levels of education benefit from the 11th Economics NCERT PDF book’s use of language that is simple and straightforward, which enables them to understand difficult ideas and terms with greater ease. It is useful in helping them better grasp the fundamental ideas presented in the chapter and allows them to better remember the information they have studied.
- Each PDF for NCERT Economics Class 11 covers all 10 chapters in depth and provides helpful information on each concept and theory covered in those chapters. In addition, each book is compiled by industry professionals and academics with years of experience and in-depth knowledge of the economy’s fundamentals. These individuals have contributed to the writing of all of the books.
- Students benefit greatly from access to subject specialists who can simplify complex concepts in a manner that is readily accessible to them. The difficult concepts of liberalisation, privatisation, and globalisation are explained in a manner that is easily understandable in the NCERT Class 11 Economics Book PDF downloads. Students are given a comprehensive understanding of how to more effectively approach various subjects through examining each concept presented in the books.
- After each chapter, there is a set of critical thinking questions based on the concepts covered in that chapter. This allows students to more effectively test their understanding of the fundamentals. In addition, the Economics book for Class 11 offers a comprehensive guide that explains in great detail how students can successfully approach various kinds of questions to do well on CBSE examinations.
In addition to these features, the fact that the PDF version of the NCERT Class 11 Economics book can be easily downloaded online makes it a practical instrument for beginning exam preparation. Not only will it help students in beginning their study sessions anywhere they choose, but it will also help students in improving their study methods.
Step By Step Instructions To Study Economics
Examining and depicting the production, distribution, and utilisation of scarce labour and goods is the primary focus of the study of financial matters. This is the essential point of concentration. Because sociology seeks to explain the behaviour of individuals, groups, and organisations, some consider the study of finance to be a subfield of sociology. Despite this, in contrast to many sociologies, the financial aspects heavily depend on mathematics and insights. The truth is that to study economics at the undergraduate level, most students must complete several advanced maths and insights courses.
Economics will be one of the more challenging subjects for students in general. Still, it will be especially challenging for students in their first and second college years who didn’t pay much attention to financial topics in their secondary education. If you have the opportunity to focus on financial topics while you are still in secondary school, you should definitely take advantage of it. It will prepare you for the rigorous academic work required for financial aspects classes in college.
Students need to demonstrate one of these four levels of academic performance to advance in their study of the financial aspects of the economy. These are the following:
Information gathering is the academic equivalent of the first degree of execution in investigating financial matters. Learning and remembering specific information, such as facts, definitions, and clarifications, are essential components of the information-gathering process. Questions of this type require very little investigation, if any at all, and are very common in courses on the topic of financial aspects taught at the secondary school level. In any event, acquiring knowledge is the foundation of education and is essential to progress through the various levels of academic performance.
In the investigation of financial matters, perception is the second degree of scholarly execution that must be accomplished. Appreciation is centred on the process of gaining an understanding of the significance of the material, in contrast to information, which is centred on the acquisition of the material. Concerning monetary concerns, the most important methods for demonstrating perception are
(1) the transfer of components from one building to another (for example, words to numbers),
(2) the process of deciphering material (such as by clarifying), and
(3) analyse the various patterns (for example, anticipating future impacts and suggestions).
The term “perception” refers to the most fundamental level of comprehension contained within the scope of “economics.”
Application constitutes the third and final degree of academic execution in the research into the various aspects of finance. When students have attained sufficient knowledge and comprehension of monetary concepts, standards, laws, and hypotheses, it is expected of them that they will be able to utilise and apply the material in real-world scenarios.
When it comes to the investigation of financial matters, the fourth and final degree of scholarly execution is analysis. The ability to dissect information (including monetary hypothesis) into its component parts to comprehensively understand its overall hierarchical structure is an essential part of the examination process. In most cases, the investigation includes differentiating the evidence of the parts, gaining an understanding of the relationship(s) between the parts, and having the ability to recognise the authoritative standards and laws that are involved are all important steps.
Survival Strategies for Economics
Although economics is a subfield of sociology, studying it is typically just as challenging and time-consuming as studying any other seriously challenging academic fields, such as mathematics, science, etc. Time, dedication, and a strong habit of review are all necessities if one wishes to succeed in monetary matters. The next step in the process of learning economics is to concentrate on the processes, strategies, and tendencies that lead to success.
- Get your assignments ready before heading to class.
It is essential to attend each class having successfully completed the tasks assigned to you. You will be able to understand the discussion and pose relevant questions if you have your assignments planned out BEFORE class. It is likely that your instructor will not get through all of the material that is designated and presented in your textbook. In class, he will discuss more complicated monetary hypotheses and applications and expect you to explain anything in the text or your assignment that you didn’t understand.
- Read for understanding.
Read your text on financial aspects while paying attention to whether or not you understand it. To begin, spend the first ten to fifteen minutes reading any structure or list that can be found that corresponds to the designated section. Make an effort to identify and recall the most important points that were covered in this section. Next, read the presentation that was given. The presentation will typically include a concise rundown of the topics that will be discussed and a recording of the section goals. Examine each of the topics one after the other. Check that you understand the connections between the various topics covered in this chapter.
Most topics will be presented verbally, mathematically (through tables), and visually (charts). Since each of the three modes of correspondence is utilised in monetary aspects and will most likely be utilised in the introduction of test questions, it is essential to understand the information presented within each setting.
When you have finished reading about each topic, you should have the option to
(1) refresh your memory on the main idea and key terms,
(2) have an understanding of the information presented,
(3) establish connections between the relevant terms, and
(4) connect each theme to a variety of other themes that are hidden throughout the chapter.
- Participate in every discussion and class.
Because economics is such a challenging subject, you simply cannot afford to miss any of the class sessions. Most of the information, comprehension, and assistance you’ll need to successfully complete the course of your financial matters will come directly from your instructor in the form of his lectures and discussions. Try not to fool yourself into thinking that you can skip class, copy our travelling companions’ notes, and breeze through any concerns regarding your finances. It is not going to take place.
- Learn the material as you go and master it.
In the same way that mathematics is a subject that is obtained through aggregation, so too is economics. Learning everything there is to know about finances is necessary to achieve comprehension. It is essential that you have a firm grasp of what you realised in class the previous week to understand what the instructor and message are introducing today. If you fall behind in your exams, it will become progressively more difficult for you to understand the new standards and ideas being presented and discussed. Before you can dominate new material, you must first dominate each new idea regarding its information, perception, and application. As a result, the strategy of “packing” does not work very well for learning about financial matters and preparing for examinations.
During the course of the lecture, you won’t have enough time to take notes or record everything the instructor says because you’ll need to pay attention to the topic being covered. During the time you have in class, you need to focus on acquiring an understanding of, and a capacity for using the monetary concepts and standards that are being presented. The most effective way to get started with this is to show up to each talk (1) having completed all of the assigned readings and tasks and (2) having a fundamental understanding of the topics that will be examined. It is important that the notes you take in class do not include everything that the instructor says. They should not include any definitions or concepts that you are already familiar with or explained in detail in the text you are using. Your notes should add to what you have learned from your own review and explain anything you don’t quite understand. Be very specific regarding the information you need to remember for your notes.
- Use the four different ways to study.
To make the most of your time in class to improve your understanding of and ability to apply financial concepts, you need to carefully combine the following four homeroom activities:
(1) tuning in,
(2) posing inquiries,
(3) responding to inquiries, as well as
(4) taking notes.
You must be prepared for class to pay attention and ask questions. If you show up to a class unprepared, you will not have the essential information and comprehension required to follow along and understand the material. If you do not have at least some level of perception, you will not have the ability to ask or respond to questions that lead to a deeper comprehension of the topic. In conclusion, keep in mind what I just said, then elaborate and add to the depth of your understanding of the concepts that are being examined.
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Extramarks is a one-stop solution for students who want to improve their overall learning experience and serves as a one-stop solution. Students are given access to the most recent educational resources, such as the NCERT Class 11 Economics Book PDF and chapter-based study solutions, through the e-learning portal. These resources are intended to help students in expanding their knowledge.
In addition, students have access to free PDF downloads of chapter-based notes that can be used to further strengthen their preparation for exams. They also have the choice to enrol in free live online classes taught by subject matter experts, allowing them to learn about fundamental economic concepts in a more direct setting.
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FAQs (Frequently Asked Questions)
1. What are the most important units in the economics book for Class 11?
The fundamental topics covered in the economics curriculum for class 11 can be broken down into the following units:
- Development Policies and Experiences
- Economic Reforms since 1991
- Current Challenges Facing the Indian Economy
- Development Experiences of India
These chapters cover various important economic topics and concepts, and there are ten total chapters in this unit.
2. What is meant by the term workforce participation rate? Which chapter provides a more detailed explanation of this concept?
The Workforce Participation Rate, or WPR, is easily defined as the ratio of a country’s total population to the number of people who are actually employed in that country. Additionally, it can be stated as –
Participation ratio = Total workforce/ Total population x 100
The NCERT textbook for economics class 11 explains this chapter in chapter 7, which also helps apply the formula to a real-world scenario.
3. Who should download the PDF version of the NCERT Class 11 Economics book?
Students can get the class 11 NCERT economics book PDF online to improve their educational experience and make it easier. Thanks to this, they can access learning resources whenever they choose and improve their fundamental understanding of diverse ideas. It will then be beneficial for improving their exam preparation.