COURSE DESCRIPTION

Introductory Micro Economics For Class 11 or व्यष्टि अर्थशास्त्र for Class XIth, provides a wide range of concepts and advanced information regarding the subject which includes all the questions provided in the CBSE Class 11 Economics Syllabus.

This course is designed after keeping pace with the changes introduced by CBSE. It is based on the latest syllabi prescribed by CBSE for the year 2022-2023 and onwards. The course also contains Multiple-Choice, Value-Based, Evaluation, and Multi-Disciplinary Questions as introduced by CBSE.

Economics concentrates on how Consumers, Producers, Market, households, societies, and individuals make choices about when, where, and how to use their natural resources at its best. It is a study that deals with many abstract and ideal blueprints to study the action and foretell how Consumers, Producers, and Market will acknowledge to given changes in Demand or Supply.

Micro Economics for class 11 is a lower and base level for class 12th’s Macro Economics. In class 11th book Micro Economics, we will study the basic fundamental aspects of the subject. And, in class 12 we will study a progressed degree of concepts.

OBJECTIVES:

• Understanding of some basic economic concepts and development of economic reasoning which the learners can apply in their day-to-day life as citizens, workers, and consumers.
• Realization of learners’ role in nation-building and sensitivity to the economic issues that the nation is facing today.
• Equipment with basic tools of economics and statistics to analyze economic issues. This is pertinent for even those who may not pursue this course beyond the senior secondary stage.
• Development of understanding that there can be more than one view on any economic issue and necessary skills to argue logically with reasoning.

Why This Course?

• Due to Covid-19 pandemic, schools couldn’t open in 2020 – 2021 & 2021-2022 session.
• This year many students are facing problems in Commerce subjects especially in Micro Economics For Class 11.
• Students have less time to complete maximum syllabus.
• If any student couldn’t study whole year or facing less confidence in Micro Economics For Class 11th, then within remaining period we can complete the entire syllabus.
• To make students feel confident in Micro Economics For Class 11.
• To help students with real-life applications of MICRO Economics.
• To help students understand each and every topic deeply.
• To help students in scoring the maximum score.

To Join Crash Course – Micro Economics For Class 11 Call/WhatsApp us at: 9540177026

To Fix a DEMO – Economics For Class 11 : CLICK HERE

SALIENT FEATURES OF COURSE:

• Each Topic has been written and explained in accordance with the latest guideline issued by CBSE.
• The Concepts have been systematically explained through the use of Diagrams, tables, and examples.
• HOTS Questions with answers have been given at the end of each chapter to enhance the student’s understanding, analytical ability, and interpretation.
• A Quiz of Multiple Choices Questions (MCQ) with answers has been given at the end of Lecture.
• Questions of NCERT TEXTBOOK also discussed with explanations.
• VALUE-BASED Questions with answers have been given in the revision section.
• Practical Problems have been a weightage of 20 to 30 marks in the board examination. To have a Complete edge, a large number of comprehensive solved and unsolved practical problems have been discussed in our lectures.
• Power Booster Section has been provided for the knowledge enrichment of the students.
• This course consist also revision section in which we discuss:

1. Last year’s CBSE Question Papers Of Different Schools.
2. List of important Questions.
3. Value-based, Evaluation, and Multi-Disciplinary Questions.
4. Latest CBSE Sample Paper with Marking Scheme.

DETAILED SYLLABUS: ECONOMICS CLASS 11th  (New Syllabus in 2022-2023 after delete)

CLASS – XI (2022-23)           Theory: 80 Marks             Duration:3 Hours                  Project: 20 Marks

Units		Marks	Periods
Part A	Statistics for Economics
	Introduction	15	10
	Collection, Organisation, and Presentation of Data		30
	Statistical Tools and Interpretation	27	50
		40	100
Part B	Introductory Microeconomics
	Introduction	4	10
	Consumer’s Equilibrium and Demand	15	40
	Producer Behaviour and Supply	15	35
	Forms of Market and Price Determination under perfect competition with simple applications	06	25
		40	100
Part C	Project Work	20	20

DETAILED SYLLABUS FOR MICROECONOMICS CLASS XI CBSE :

Part B: Introductory Microeconomics

Unit 4: Introduction

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

Consumer’s equilibrium – meaning of utility, marginal utility, the 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.

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

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, the average variable cost, and marginal cost-meaning and their relationships.

Revenue – Total, average 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 the supply curve, price elasticity of supply; measurement of price elasticity of supply – percentage-change method.

Unit 7: Forms of Market and Price Determination under Perfect Competition with simple applications.

Perfect competition – Features; Determination of market equilibrium and effects of shifts in demand and supply. Other Market Forms – Monopoly, Monopolistic Competition, – Their meaning and features.

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

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