CBSE-2022 Syllabus for Economics Classes XI and XII

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Economics is one of the social sciences, which has great influence on every human being. As economic life and the economy go through changes, the need to ground education in children՚s own experience becomes essential. While doing so, it is imperative to provide them opportunities to acquire analytical skills to observe and understand the economic realities.

At senior secondary stage, the learners are in a position to understand abstract ideas, exercise the power of thinking and to develop their own perception. It is at this stage, the learners are exposed to the rigour of the discipline of economics in a systematic way.

The economics courses are introduced in such a way that in the initial stage, the learners are introduced to the economic realities that the nation is facing today along with some basic statistical tools to understand these broader economic realities. In the later stage, the learners are introduced to economics as a theory of abstraction.

The economics courses also contain many projects and activities. These will provide opportunities for the learners to explore various economic issues both from their day-to-day life and also from issues, which are broader and invisible in nature. The academic skills that they learn in these courses would help to develop the projects and activities. The syllabus is also expected to provide opportunities to use information and communication technologies to facilitate their learning process.


  1. 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.
  2. Realisation of learners ā€² role in nation building and sensitivity to the economic issues that the nation is facing today.
  3. Equipment with basic tools of economics and statistics to analyse economic issues. This is pertinent for even those who may not pursue this course beyond senior secondary stage.
  4. Development of understanding that there can be more than one views on any economic issue and necessary skills to argue logically with reasoning.

Class XI ( 11th )

One paper of 3 Hours and 100 Marks

Part a: Statistics for Economics

Introduction5 Periods3 Marks
Collection, Organisation and Presentation of Data25 Periods12 Marks
Statistical Tools and Interpretation64 Periods30 Marks
Developing Projects in Economics10 periods5 Marks
Total104 Periods50 Marks

Part B: Indian Economic Development?

Development Policies and Experience (1947 āˆ’ 90)18periods10 Marks
Economic Reforms since 199114periods8 Marks
Current Challenges facing Indian Economy60periods25 Marks
Development experience of India-Acomparison with neighbours12periods7 Marks
total104periods50 Marks

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-5 Periods

What is Economics?

Meaning, scope and importance of statistics in Economics

Unit 2: Collection, Organisation and Presentation of Data-25 Periods

Collection of data-sources of data-primary and secondary; how basic data is collected; methods of collecting data; Some 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:

  1. Geometric forms (bar diagrams and pie diagrams)
  2. Frequency diagrams (histogram, polygon and ogive)
  3. Arithmetic line graphs (time series graph)

Unit 3: Statistical Tools and Interpretation-64 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-mean (simple and weighted) , median and mode Measures of Dispersion-absolute dispersion (range, quartile deviation, mean deviation and standard deviation) ; relative dispersion (co-efficient of quartile-deviation, co-efficient of mean deviation, co-efficient of variation) ; Lorenz Curve: Meaning and its application.

Correlation-meaning, scatter diagram; Measures of correlation-Karl Pearson՚s method (two variables ungrouped data) Spearman՚s rank correlation.

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.

Some Mathemetical tools used in Economics: Equation of a line, scope of a line, scope of a curve.

Unit 4: Developing Projects in Economics-10 Periods

The students may be encouraged to develop projects, which have primary data, secondary data or both. Case studies of a few organisations/outlets may also be encouraged. Some of the examples of the projects are as follows (they are not mandatory but suggestive) :

  1. A report on demographic structure of your neighborhood
  2. Consumer awareness amongst households
  3. Changing prices of a few vegetables in your market
  4. Study of a cooperative institution: Milk cooperatives

The idea behind introducing this unit is to enable the students to develop the ways and means by which a project can be developed using the skills learned in the course. This includes all the steps involved in designing a project starting from choosing a title, exploring the information relating to the title, collection of primary and secondary data, analysing the data, presentation of the project and using various statistical tools and their interpretation and conclusion.

Part B: Indian Economic Development

Unit 5: Development Policies and Experience (1947 āˆ’ 90) : 18 Periods

A brief introduction of the state of Indian economy on the eve of independence. Common goals of Five Year Plans. Main features, problems and policies of agriculture (institutional aspects and new agricultural strategy, etc.) , industry (industrial licensing, etc,) and foreign trade.

Unit 6: Economic Reforms Since 1991: 14 Periods

Need and main features-liberalisation, globalisation and privatisation; An appraisal of LPG policies

Unit 7: Current Challenges Facing Indian Economy: 60 Periods

Poverty-absolute and relative; Main programmes for poverty alleviation: Acritical assessment; Rural development: Key issues-credit and marketing-role of cooperatives; agricultural

diversification; alternative farming-organic farming

Human Capital Formation: How people become resource; Role of human capital in economic development; Growth of Education Sector in India Employment: Formal and informal, growth and other issues: Problems and policies. Inflation: Problems and Policies

Infrastructure: Meaning-and Types: Case Studies: Energy and Health: Problems and Policies-A critical assessment.

Sustainable Economic Development: Meaning, Effects of Economic Development on Resources and Environment, including global warming.

Unit 8: Development Experience of India: 12 Periods

A comparison with neighbours India and Pakistan India and China

Issues: Growth, population, sectoral development and other developmental indicators.

Class XII ( 12th )

One paper of 3 Hours and 100 Marks

Introduction10 Periods4 Marks
Consumer Equilibrium and Demand32 Periods18 Marks
Producer Behaviour and Supply32 Periods18 Marks
Forms of Market and Price Determination22periods10 Marks
Simple applications of Tools of demand and supply8periodsN/A
Total104 Periods50 Marks

Introductory Macroeconomics

National Income and Related Aggregates30 Periods15 Marks
Money and Banking18 Periods8 Marks
Determination of Income and Employment25 Periods12 Marks
Government Budget and the Economy17 Periods8 Marks
Balance of Payments14 Periods7 Marks
total104 Periods50 Marks

Part a: Introductory Microeconomics

Unit 1: Introduction-10 Periods

Meaning of microeconomics and macroeconomics

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 2: Consumer Equilibrium and Demand-32 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. Demand, market demand, determinants of demand, demand schedule, demand curve, movement along and shifts in the demand curve; price elasticity of demand-factors affecting price elasticity of demand; measurenment of price elasticity of demand- (a) percentage-change method and (b) geometric method (linear demand curve) ; relationship between price elasticity of demand and total expenditure.

Unit 3: Producer Behaviour and Supply-32 Periods

Production function: Total Product, Average Product and Marginal Product. Returns to a Factor.

Cost and Revenue: Short run costs-total cost, total fixed cost, total variable cost; Average fixed cost, average variable cost and marginal cost-meaning and their relationship.

Revenue-total, average and marginal revenue.

Producer՚s equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost. Supply, market supply, determinants of supply, supply schedule, supply curve, movements along and shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply-percentage-change method and geometric method.

Unit 4: Forms of Market and Price Determination-22 Periods

Perfect competition-Features; Determination of market equilibrium and effects of shifts in demand and supply.

Other Market Forms-monopoly, monopolistic competition, oligopoly-their meaning and features.

Unit 5: Simple Applications of Tools of Demand and Supply-8 Periods (Not to be Examined)

Part B: Introductory Macroeconomics

Unit 6: National Income and related aggregates-30 Periods

Some basic concepts: Consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation.

Circular flow of income; Methods of calculating National Income-Value Added or Product method, Expenditure method, Income method. Aggregates related to National Income:

Gross National Product (GNP) , Net National Product (NNP) , Gross and Net Domestic Product (GDP and NDP) -at market price, at factor cost; National Disposable Income (gross and net) , Private Income, Personal Income and Personal Disposable Income; Real and Nominal GDP.

GDP and Welfare

Unit 7: Money and Banking-18 Periods

Money-its meaning and functions. Supply of money-Currency held by the public and net demand deposits held by commercial banks. Money creation by the commercial banking system.

Central bank and its functions (example of the Reserve Bank of India) .

Unit 8: Determination of Income and Employment-25 Periods

Aggregate demand and its components. Propensity to consume and propensity to save (average and marginal) . Short-run equilibrium output; investment multiplier and its mechanism. Meaning of full employment and involuntary unemployment. Problems of excess demand and deficient demand; measures to correct them-change in government spending, availability of credit.

Unit 9: Government Budget and the Economy-17 Periods

Government budget-meaning, objectives and components.

Classification of receipts-revenue receipts and capital receipts; classification of expenditure-revenue expenditure and capital expenditure. Measures of government deficit-revenue deficit, fiscal deficit, primary deficit: Their meaning. Fiscal Policy and its role (non evaluative topic)

Unit 10: Balance of Payments-14 Periods

Balance of payments account-meaning and components; balance of payments deficit-meaning. Foreign exchange rate-meaning of fixed and flexible rates and managed floating. Determination of exchange rate in a free market. Recommended textbooks

  1. Indian Economic Development, Class XI, NCERT
  2. Introductory Micro Economics, Class XII, NCERT
  3. Macro Economics, Class XII, NCERT
  4. Supplimentary Reading Material in Economics, Class XII, CBSE

Note: The above publications are also available in Hindi Medium