Midterm Syllabus: Economics (Class XI) 2020-21

Unit 1: Introduction

• Meaning, scope, and importance of statistics in economics.

Unit 2: Collection, Organisation, and Presentation of Data

• Collection of Data: Sources of data (primary and secondary); methods of data collection; census of India and National Sample Survey Organisation (NSSO).
• Organisation of Data: Meaning and types of variables; frequency distribution.
• Presentation of Data: Tabular presentation and diagrammatic presentation of data (bar diagrams, pie diagrams, and histograms).

Unit 3: Statistical Tools and Interpretation

• Measures of Central Tendency: Arithmetic Mean, Median, and Mode.

Unit 4: Introduction

• Meaning of microeconomics and macroeconomics.
• Basic concepts: positive and normative economics.
• Central problems of an economy: what, how, and for whom to produce; opportunity cost and Production Possibility Frontier (PPF).

Unit 5: Consumer's Equilibrium and Demand

• Consumer's Equilibrium: Meaning and attainment of equilibrium through Utility Analysis (one and two commodity cases).
• 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; measurement of price elasticity of demand (percentage method).