Economics, one of the Class 11 subjects deals with the studies of the functioning of the entire economy at a national and international level and the basic elements in the economy.  ICSE and CBSE boards have released their respective circulars, highlighting that the curriculum for the session 2020-21 has been revised from class 9 to class 12. Candidates can go through the complete post to know more details about Class 11 Economics Syllabus 2020.

  • Before starting with preparation, it is important for candidates to be aware of the Class 11 Commerce Syllabus. as this will help increase your preparation levels.
  • Students must have in-depth knowledge of all the concept of economic subject to score good marks in the exam.
  • Candidates can view or download the Class 11 Economics Syllabus PDF by clicking on the direct link provided in this post and start their preparation accordingly.

Class 11 Economics Syllbaus 2020-21

Many students will have doubts about why commerce after the 10th. Here is the complete answer. Currently, Commerce is one of the trending subjects across the globe and there is a lot of scope in the coming days. Hence, being aware of the commerce subjects and all the topics will help students to clear the exam easily. Economics is one of the important subjects in the curriculum of both CBSE and ISC. As per the revised class 11 economics syllabus, students will be taught the reduced topics to the extent required to connect the different topics.

  • Knowing the syllabus will help candidates to know the important topics as the exam point of view and score good marks in the exam.
  • The syllabus of Class 11 Economics is divided into two parts: Statistics for Economics and Indian Economic Development.
  • In this article, we have provided the revised syllabus of economics as finalized by both CBSE and ICSE. 

CBSE Class 11 Economics Syllabus 2020-21

As per the latest notice, the Central Board of Secondary Education has revised the syllabus of Class 11 Economics for the year 2020-21.

  • Candidates appearing for the exam must be aware of the revised syllabus to score good marks in the exam.
  • As per the revised Class 11 Economics Syllabus CBSE, few topics have been deleted form each unit.
  • Solving Class 11 Economics Sample Papers will help candiadtes to know the difficulty level of the paper and type of questions asked in the exam.
  • There are a total of 7units in the revised business studies syllabus of Class 11. Hence, it is important for candidates to prepare all the topics as per the latest syllabus.
Part Unit Topics
A- Statistics for Economics Statistics for Economics What is Economics?
Meaning, scope, functions, and importance of statistics in Economics
Collection, Organisation, and Presentation of data sources of data – primary and secondary, methods of collecting data, sources of secondary data
Meaning and types of variables; Frequency Distribution
Tabular Presentation and Diagrammatic Presentation of Data: Geometric, Frequency diagrams, and Arithmetic line graphs
Statistical Tools and Interpretation Measures of Central Tendency – Arithmetic mean, median, and mode.
Measures of Dispersion – absolute dispersion, relative dispersion
Correlation – meaning, and properties, scatter diagram; Measures of correlation – Karl Pearson’s method
Introduction to Index Numbers – meaning, types – wholesale price index, consumer price index, uses of index numbers; Inflation and index numbers
B - Introductory Microeconomics Introduction Meaning of microeconomics and macroeconomics; positive and normative economics
Consumer’s Equilibrium and Demand meaning of utility, marginal utility, law of diminishing marginal utility, conditions of consumer’s equilibrium using marginal utility analysis
Producer Behaviour and Supply Meaning of Production Function – Short-Run and Long-Run, Total Product, Average Product and Marginal Product, Returns to a Factor
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. Simple Applications of Demand and Supply: Price ceiling, price floor

Let have a look at the below CBSE Class 11 Economics syllabus PDF 2020 to know the complete details of the revised syllabus.

cbse 11th commerce syllabus

cbse 11th commerce syllabus

List of Deleted Topics from CBSE Class 11 Economics Syllabus 2020

The list of topics deleted from the Class 11 Economics Syllabus as decided CBSE for the academic session 2020-21 is as follows. Economics is one of the optional subjects among all the 11th Commerce Subjects. The deleted topics include the chapters on federalism, citizenship, nationalism, secularism, and the growth of local governments in India. It is noted that few topics are deleted from the Economics syllabus of both Part A and Part B. Here is the list of deleted topics from the 11th Class Economics Syllabus.

Part Unit Topics
A Statistical Tools and Interpretation Measures of Dispersion, Correlation, Index Numbers
B Introduction Concepts of production possibility frontier
Producer Behaviour and Supply Producer’s equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost
Forms of Market and Price Determination under Perfect Competition with simple applications Other Market Forms – monopoly, monopolistic competition – their meaning and features

Click here to download the deleted portion of the CBSE Class 11 Economics Syllabus PDF

ICSE Class 11 Economics Syllabus 2020-21

The reduced syllabus of ICSE Class 11 Economics Syllabus includes units like understanding economics, Indian economic development, and statistics. Before starting the preparation, it is advised to go through the detailed ISC Syllabus PDF. The syllabus for class 11 economics as decided by the ICSE is as follows:

Part Unit Topics
1 Understanding Economics Definition of Economics: Adam Smith, Alfred Marshall, Lionel Robbins, Samuelson.
Micro and Macro Economics - Meaning and Difference. Basic concepts; utility, price, value, wealth, welfare, money, market, capital, investment, income, production, consumption, saving, Business cycle, Aggregate demand and Aggregate supply
Basic problems of an economy: what to produce; how to produce; for whom to produce; efficient use of resources.
Types of economies: developed and developing; Economic systems: capitalism, socialism and mixed economy; mechanism used to solve the basic problems faced by each economy.
2 Indian Economic Development Parameters of Development
Planning and economic development in India
Structural Changes in the Indian Economy after liberalization
Current challenges facing Indian Economy
Sustainable Development
3 Statistics Statistics: definition, scope and limitations of statistics
Measures of Central Value
Correlation
Index numbers
Some Mathematical Tools used in Economics

Download the detailed Class 11 Economics Syllabus ISC board here. Candidates can view or download the PDF and start their preparation accordingly.

commerce syllabus for 11th CBSE

commerce syllabus for 11th CBSE

List of Deleted Topics in ICSE Class 11 Economics Syllabus 2020

The list of deleted topics in ICSE class 11 syllabus for economics are:

Part Unit Topics
2 Indian Economic Development Introduction
Economic Growth and Development
3 Statistics Collection, organization and presentation of data
Measures of Dispersion

Important Questions For Class 11 Economics Syllabus 2020

Some of the important questions asked in Unit 1 of Class 11 Economics are:

  1. What type of economy is followed in India?
  2. Define the economy.
  3. What are the focus points of the first and second five-year plan?
  4. What is a socialist economy?
  5. What is the other name of the World Bank?
  6. What is Privatisation?
  7. What are indirect taxes?
  8. What is the benefit that the domestic industries get by reducing the tariff?
  9. What are the Navratnas Companies of India?
  10. What is outsourcing? How is India benefited?

For Unit 2 covering topics including sources of data, Meaning and types of variables, etc. following questions are important:

  1. What is the primary and secondary data?
  2. What are the sources of secondary data?
  3. How is a questionnaire formed and what are its qualities?
  4. What are the individual and discrete series?
  5. What is the class limit?
  6. What do you mean by frequency distribution or frequency series?
  7. What are simple, complex and derived tables?
  8. How many types of complex tables are there? Define them.
  9. What are the different forms of presentation of data?
  10. What are the two principal parts of a table?

cbse syllabus for 11th commerce

cbse syllabus for 11th commerce

For unit 3, i.e Statistics, these are the important questions.

  1. Define Mean, Median and Mode.
  2. What is positional average?
  3. Define the central tendency.
  4. What are the different kinds of statistical average?
  5. What are the methods of calculating simple arithmetic mean?
  6. What is the coefficient of dispersion?
  7. What is the coefficient of quartile deviation formula?
  8. What is a Lorenz curve?
  9. Define partial correlation.
  10. What is the difference between negative and positive correlation?
  11. Coefficient of correlation is between -1 and +1. How would you express it arithmetically?
  12. What are the multiple correlations?

Part B, i.e. Macroeconomics covers questions like:

  1. How is total utility derived from the marginal utility?
  2. Which curve shows the various combinations of two products that give the same amount of satisfaction to the consumer?
  3. State the law of equi-marginal utility.
  4. What will be the MU when TU is maximum?
  5. Which direction does the indifference curve slope?
  6. What does the law of diminishing utility say?
  7. State the proportionate /percentage methods of evaluating price elasticity of demand?
  8. Explain four determinants of demand for a commodity.
  9. Describe the assumption which is made to determine the consumer’s equilibrium position.
  10. Product differentiation is in which market form?
  11. What is a patent right?
  12. What is cooperative oligopoly?
  13. What is unusual or abnormal profit?
  14. What will be the marginal product when the total product is maximum?
  15. Increase in Total Physical Product indicates that there are increasing returns to a factor.
  16. Why does the Average Fixed Cost curve never touch the “x” axis though lies very close to the x-axis?
  17. Define cost concept. What are the different types of cost?
  18. Explain the effect of a ‘price ceiling’.
  19. A Market for a good is in equilibrium. Demand for good ‘increases’. Explain the chain effects of this change.
  20. Name two features of the monopoly market.

Which are the best Economics Books for Class 11?

For the preparation of the exams, students must consider the textbooks recommended by NCERT and ISC. However, additionally, these books can help students ace their economics exams in class 11. Choosing the right books that cover the 11th class economics syllabus will help candiadtes to boost their preparation level for the upcoming exam. Go through the table below to know the best 11th Commerce Books.

Name of the book Author
Introductory Microeconomics for Class 11 Sandeep Garg
Statistics for economics - class 11 TR Jain
Frank ISC Economics Class 11 Frank Brothers
CBSE All in One Economics Class 11th Akanksha Sharma, Shalu Nayyar
Indian Economic Development Textbook for Class 11 NCERT
Statistics for Economics APC
Statistics for Economics Saraswathi

Class 11 Economics Syllabus 2021-22

Students must be aware that the reduced economics syllabus is applicable only for this year. The 11th class Economics syllabus of both CBSE and ISC boards for next academic years will remain the same as the previous one. Hence, students must ensure to study all the topics. There won't be any deletion of topics from next year. 

Download the Class 11 Economics Syllabus PDF for ISC and CBSE boards for the academic year 2021-22 from the table below.

Board Download PDF
CBSE Class 11 Economics Syllabus Download PDF
ISC Class 11 Economics Syllabus Download PDF

FAQ's

How can I better prepare for Class 11th Economics syllabus?

Begin your preparation by studying from the right class 11 commerce subject books which covers all the concepts and topics according to the latest exam pattern and syllabus 2020. One of the best methods to score more marks in the exam is to practice as many previous year question papers as possible and taking up mock tests.

What is the Part A revised Class 11 Econimics Syllabus?

The Part A revised Class 11 Econimics Syllabus include topics like Statistics for Economics, Collection, Organisation and Presentation of data, Statistical Tools and Interpretation.

What is the list of deleted topics from CBSE class 11 economics syllabus?

The following topics are deleted from CBSE class 11 economics syllabus: Concepts of production possibility frontier, Measures of Dispersion, Correlation, Index Numbers, Producer’s equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost, Other Market Forms – monopoly, monopolistic competition – their meaning and features.

What is the revised ICSE Class 11 Economics syllabus?

The revised ICSE Class 11 Economics syllabus includes Understanding Economics, Indian Economic Development, and Statistics.

Which is the best Class 11th commerce books for the preparation of economics syllabus?

The following are some of the best books for the preparation of Class 11th Economics syllabus.

  • Economic Statistics by NCERT Class 11th Economics Book
  • Indian Economic Development by NCERT Class 11th Economics Book
  • Introductory Microeconomics for Class 11 by Sandeep Garg