G.S.

PUBLIC SCHOOL
A Senior Secondary School, Affiliated To C.B.S.E., New Delhi, Upto 10+2
ISO 9001:2015 CERTIFIED SCHOOL
Add: - Opp. Domchanch Thana, Domchanch, Koderma , Jharkhand

ECONOMICS (Code No. 030)

CLASS – XI (2024-25)
Theory: 80 Marks 3 Hours
Project: 20 Marks
Units Marks Periods
Part A Statistics for Economics
Introduction 10
Collection, Organisation and Presentation of 15 30
Data
Statistical Tools and Interpretation 25 50
40

Part B Introductory Microeconomics

Introduction 04 10
Consumer's Equilibrium and Demand 14 40
Producer Behaviour and Supply 14 35
Forms of Market and Price Determination 08 25
under perfect competition with simple
applications
40

200
Part C Project Work 20 20

Part A: Statistics for Economics

In this course, the learners are expected to acquire skills in collection,
organisation and presentation of quantitative and qualitative information
pertaining to various simple economic aspects systematically. It also intends to
provide some basic statistical tools to analyse, and interpret any economic
information and draw appropriate inferences. In this process, the learners are
also expected to understand the behaviour of various economic data.

Unit 1: Introduction 10 Periods

What is Economics?
Meaning, scope, functions and importance of statistics in Economics

Unit 2: Collection, Organisation and Presentation of data 30 Periods

Collection of data - sources of data - primary and secondary; how basic data
is collected with concepts of Sampling; methods of collecting data; some
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 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 50 Periods 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

Correlation – meaning and properties, scatter diagram; measures of correlation - Karl

Pearson's method (two variables ungrouped data) Spearman's rank correlation (Non-
Repeated Ranks and Repeated Ranks).

Introduction to Index Numbers - meaning, types - Wholesale Price Index, Consumer Price
Index and index of industrial production, uses of index numbers; Inflation and Index
Numbers, Simple Aggregative Method.

Part B: Introductory Microeconomics

Unit 4: Introduction 10 Periods
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 40 Periods

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.

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 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 and total expenditure
method.

Unit 6: Producer Behaviour and Supply 35 Periods

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 Revenue, Average Revenue 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 supply curve, price elasticity of
supply; measurement of price elasticity of supply - percentage-change method.

Unit 7: Perfect Competition - Price Determination and simple applications.

25 Periods
Perfect competition - Features; Determination of market equilibrium and
effects of shifts in demand and supply. (Short Run Only)

Simple Applications of Demand and Supply: Price ceiling, Price floor.

Part C: Project in Economics 20 Periods

Guidelines as given in Class XII curriculum

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 Suggested Question Paper Design
Economics (Code No. 030)
Class XI (2023-24)
March 2024 Examination

Marks: 80 Duration: 3 hrs.

SN Typology of Questions Marks Percentage

Remembering and Understanding:
Exhibit memory of previously learned material by
recalling facts, terms, basic concepts, and answers.
1 44 55%
Demonstrate understanding of facts and ideas by
organizing, comparing, translating, interpreting,
giving descriptions, and stating main ideas
Applying: Solve problems to new situations by
2 applying 18 22.5%
acquired knowledge, facts, techniques and rules in a
different way.
Analysing, Evaluating and Creating:
Examine and break information into parts by
identifying motives or causes. Make inferences and
find evidence to support generalizations.
Present and defend opinions by making judgments
3 about information, validity of ideas, or quality of 18 22.5%
work based on a set of criteria.
Compile information together in a different way by
combining elements in a new pattern or proposing
alternative solutions.

Total 80 100%

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Part C: Project in Economics 20 Periods

Prescribed Books:
1. Statistics for Economics, NCERT
2. Indian Economic Development, NCERT
3. Introductory Microeconomics, NCERT
4. Macroeconomics, NCERT
5. Supplementary Reading Material in Economics, CBSE
Note: The above publications are also available in Hindi Medium.

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 Guidelines for Project Work in Economics (Class XI)
The objectives of the project work are to enable learners to:
 probe deeper into theoretical concepts learnt in classes XI and XII
 analyse and evaluate real world economic scenarios using theoretical
constructs and arguments
 demonstrate the learning of economic theory
 follow up aspects of economics in which learners have interest
 develop the communication skills to argue
logically The expectations of the project work are
that:
 learners will complete only ONE project in each academic session
 project should be of 3,500-4,000 words (excluding diagrams & graphs),
preferably hand-written
 it will be an independent, self-directed piece of study
Role of the teacher:
The teacher plays a critical role in developing thinking skills of the learners. A teacher
should:
 help each learner select the topic based on recently published extracts from
the news media, government policies, RBI bulletin, NITI Aayog reports,
IMF/World Bank reports etc., after detailed discussions and deliberations of the
topic
 play the role of a facilitator and supervisor to monitor the project work of the
learner through periodic discussions
 guide the research work in terms of sources for the relevant data
 educate learner about plagiarism and the importance of quoting the source of
the information to ensure authenticity of research work
 prepare the learner for the presentation of the project work
 arrange a presentation of the project file
Scope of the project:
Learners may work upon the following lines as a suggested flow chart:
Choose a title/topic

Collection of the research

material/data

Organization of

material/data Present

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 material/data

Analysing the material/data for

conclusion Draw the relevant

conclusion

Presentation of the Project Work

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Expected Checklist:
 Introduction of topic/title
 Identifying the causes, consequences and/or remedies
 Various stakeholders and effect on each of them
 Advantages and disadvantages of situations or issues identified
 Short-term and long-term implications of economic strategies suggested in
the course of research
 Validity, reliability, appropriateness and relevance of data used for
research work and for presentation in the project file
 Presentation and writing that is succinct and coherent in project file
 Citation of the materials referred to, in the file in footnotes, resources
section, bibliography etc.

Mode of presentation/submission of the Project:

At the end of the stipulated term, each learner will present the research work in
the Project File to the External and Internal examiner. The questions should be
asked from the Research Work/ Project File of the learner. The Internal Examiner should
ensure that the study submitted by the learner is his/her own original work. In case of
any doubt, authenticity should be checked and verified.

Marking Scheme:
Marks are suggested to be given as –
S. No. Heading Marks Allotted
1. Relevance of the topic 3
2. Knowledge Content/Research 6
Work
3. Presentation Technique 3
4. Viva-voce 8
Total 20 Marks
Suggestive List of Projects:
Class XI
 Effect on PPC due to various  Invisible Hand (Adam Smith)
government policies
 Opportunity Cost as an Economic  Effect of Price Change on a Substitute
Tool (taking real life situations) Good
(taking prices from real life
visiting local market)
 Effect on Equilibrium Prices in Local  Effect of Price Change on a
Market (taking real life situation or Complementary Good (taking prices
recent news) from real life visiting
local market)
 Solar Energy, a Cost-Effective  Bumper Production- Boon or Bane
Comparison with Conventional for the Farmer
Energy Sources
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 Any other newspaper article and its  Any other topic
evaluation on basis of economic
principles