# Economics Class 11 Term-II Syllabus

The syllabus is divided into three parts: (A) Statistics for Economics (B) Introductory Microeconomics (C) Project Work.

Exam Structure

 Units Title Marks Part A Statistics for Economics 3. Statistical Tools and Interpretation 17 Part B Introductory Microeconomics 6. Producer Behaviour and Supply 13 7. Forms of Market and Price Determination under perfect competition 10 Total 40

## Part A: Statistics for Economics

### Unit 3: Statistical Tools and Interpretation

Measures of Dispersion - absolute dispersion (standard deviation); relative dispersion (co-efficient of variation)

Correlation - meaning and properties, scatter diagram; Measures of correlation - Karl Pearson's method (two variables ungrouped data)

Introduction to Index Numbers - meaning, types - wholesale price index, consumer price index, uses of index numbers; Inflation and index numbers.

## Part B: Introductory Microeconomics

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

Revenue - total, average and marginal revenue - meaning and their relationship.

Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in 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.

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