This course is designed to provide students with a comprehensive understanding of the fundamental concepts of economics, as outlined in the Class 11 CBSE syllabus. Through a combination of theory, practical applications, and real-world examples, students will develop critical thinking skills and an appreciation for economic principles.

Course Duration

• Total Duration: 2 months
• Classes per Week: 3
• Class Duration: 1 hour

Course Structure

Unit 1: Statistics for Economics

1. Introduction to Statistics:

   • Meaning and importance of statistics in economics
   • Collection of data
   • Presentation of data: tabular and graphical forms

2. Measures of Central Tendency:

   • Mean, Median, Mode
   • Interpretation and application of each measure

3. Measures of Dispersion:

   • Range, Quartile Deviation, Mean Deviation, Standard Deviation
   • Importance of dispersion in data analysis

Unit 2: Microeconomics

1. Introduction to Microeconomics:

   • Meaning, scope, and significance
   • Concepts of scarcity, choice, and opportunity cost

2. Consumer Behavior:

   • Utility, total and marginal utility
   • Law of diminishing marginal utility
   • Consumer equilibrium and demand curves

3. Demand and Supply:

   • Concept of demand and its determinants
   • Concept of supply and its determinants
   • Market equilibrium and changes in equilibrium

4. Elasticity of Demand:

   • Price elasticity, income elasticity, and cross elasticity
   • Factors affecting elasticity

5. Production and Costs:

   • Factors of production
   • Short-run and long-run production
   • Concepts of cost: total, average, and marginal costs

6. Market Structures:

   • Perfect competition, monopolistic competition, monopoly, and oligopoly
   • Features and pricing strategies in different market structures

Unit 3: Indian Economic Development

1. Overview of the Indian Economy:

   • Economic development vs. economic growth
   • Major economic sectors: primary, secondary, and tertiary

2. Developmental Goals:

   • Poverty, inequality, and unemployment
   • Sustainable development and human development index (HDI)

3. Economic Planning in India:

   • Objectives and strategies of planning
   • Role of public sector in economic development

4. Globalization and its Impact:

   • Meaning and features of globalization
   • Effects of globalization on Indian economy

Teaching Methodology

• Interactive lectures and discussions
• Case studies and real-life examples

Course Materials

• CBSE prescribed textbooks
• Supplementary readings and resources
• Access to online economic databases and articles