ECONOMICS (Code No. 030) (2018-19) Rationale Economics is one ofthe socialsciences, which has grea influence on every human being, As economic life andthe economy go through changes, the need to ground education in ehldren’s own experience becomes escent, While doing so, its imperative to provide them opfortunites to aequie analytical shils observe and understand the economic realitis, At senor secondary stag, the learners are in a postion to understand abstract ideas, exercise the power of thinking and 10 develop thet own perception. Isat this sage, the leamers are exposed (othe igout Df the dsepine of economics in a ystematic way ‘The economics courses ae intodced in such way that in the iil stage, the learners ae intodced to the economic reaies thatthe nation is facing today along with some basic statistical tools to pee ee sag te Tern a saeco ‘The economics courses also contain many projects and activities. These will provide opportunities for the leamers to explore various economic issbes both from their day-oday Ife and also ftom isso, ‘which are broader and invisible i nature, The academic skill hat the; Team in these courses would help to develop the projects and ‘The syllabus is also expected to provide opprtaitics to use ‘nfrmtion and commncation tocnangrs forte thei ening ess Objectives: Undestanding of sour basic economic concepts and development of economic seasoning which the lamers can apply in ther day-to-day fea citizens, vorkers and consumers. ‘+ Realisation of learners’ role in nation building and sensitivity tthe economic isues that the noni facing today ‘+ Equipment with basic tools of economies and sities to andyse economic issues. This is erinent for even those who may not pursue this course beyond senior secondary sage. + Development of understanding that there canbe more thin ane view on any economic issue and ECONOMICS (030) Session 2018.19 Glass XT Part A: Inzodactory Microeconomics Part B: Statistics for Economics (Class XI Pat A Inzodactory Microeconomics Part B: Inoductory Macroeconomics Session 2019-20 Glass XT Part A: tnzoductory Microeconomics Pat B; Statistics for Economics Glass XII Part A: Inoductory Macroeconomics Part B: Indian Feonomie Development ECONOMICS CLASS — XI (2018-19) ‘Theory: 80 Marks Project: 20 Marks 3 Hours Unite Nias | Period 7 5 ‘Consumer's Fquiibam and Demand F 3 Producer Behavicar and Supply 5 Ey "Forms of Market and Price Dewan under parost | 10 # competition wit simple applications a Tor Part _| Staite for Pecnomice 2 Collecuon, Orguisaion ad Presentation of Daa i 2 3 Sutistical Took and Inerpettion a 6 w 100) Part _| Project Wark mw cy Part As Introductory Microcconomies Unit 1: Introduction 8 Periods “Meaning of microeconomics and macroeconomics: positive and normative economics ‘What is an economy? Cental problems of en economy: what, how sad for whom to produce concepts of preduction possibility frontier and opportunity cos. 2: Consumer's Equlitvium and Demand 32 Periods ‘Consume’ equilibrum ~ meaning of wily. marsinal uit, law of diminishing marginal ‘conditions of consune’eqiliriun using marginal ulity analysis. Indifference curve alysis of consumer's oquilibrium-te consumer's budget (budget set and ‘budget ine), preferences ofthe consumer (indierence cuve, indifference mp) and conditions ‘of consumers equim. Demand, market demand, determinants of demand, demand schodule, demand curve and is slope, movement along and shill i the demnd curve, pre elasticity of demand = Factors affecing price oltcity of demand, measurement of price olaicity of demand — Percentagerchange nthodUnit 3: Producer Behaviour and Supply 232 Periods “Meaning of Production Function ~ Shoct-Run and Long-Run Total Produc, Average Product and Marginal Product. Reruns to Factor (Cost: Short run costs - total ost, total fixed cost, total variable cost; Average cost: Average fixed cost, average variable cost and marginal costmeaning ander relationships Revenve - total. average and marginal revenue - meaning andthe relationship Producers equilibrium meaning and its conditions in terms of marginal revenue-maginal cos Supply, market supply, determinants of suply, supply schediue, supply curve and is slope, ‘movements along and shifts in supply curve price elasticity of supply: measurement of price elasticity of supply -percentoge-change method Unit 4: Forms of Market and Price Determination under Perfect Competition with simple applications. 128 Periods Perfect competition - Features: Dstemnintion of markst equilbsium and effects of shifts in demi and spy Other Market Forms ~ monopoly, monopolistic competition, oligopoly their meaning and features, Simple Applications of Demand and Supply: Price ceiling, price Toot Part B: Statistics for Economics 1m this course, the leamers are expected to acquire skills ia collection, organisation and ‘presentation of quantitative and quaatve information pertaining to various simple economic ‘specs systomaticaly. I also intends to provide some basic satistical fools t analyse and Interpeet any economic information and draw appropiate inferenes, In this process, the learners ar also expected to understand the behaviour of varius economic data, Introduction 07 Pesiods Whats Economies? Meaning, scope, functions and impornce of statistics in Econoies Unit 2: Collection, Organisation and Presentation of data 27 Periods Collection of data - sources of data - primary and secondary; how basic data is collected, with concepts of Sampling: Sampling and Non-Samplingetors: mahods of collecting dats: some Sreportant sors af evry data Conan ef India and National Sample Sarery Organisation Organisation of Data: Meaning and types of variables; Froqueney Distribution. Presentation of Data: Tabular Prevention and Diagrammatic Presentation of Data: () Geometric forms (bar diagrams and pie diagrams), (i Frequency diagrams (histogram, polygon sd ogi) and (i) Arthmeti ine graphs (time series graph), Unit 3 Statistical Tools and Interpretation 66 Peviods (for all the numerical problems and soltions, the appropriate ecenomic interpretation may be attempted. Thi means, the stents nos o solve the problems and provide interpretation for the results Aerived) “Measures of Central Tendency- mean (simple and weighted), modian and mode Measures of Dispersion - absolute dispersion (range, quartile deviation, mean deviation and standard deviation): relative dispersion (co-efficient of range, coefficient of quarle-deviaton, eoeicient of ‘mean deviation, co-eivient of Variation), Lorene Curve Meaning, comscdction and its aplication Correlation ~ meaning and popertcs,sctirdigram: Measures ofconelation - Karl Pearson's method (v0 variables ungrouped da) Spearman’ rank correlation. Introduction to Index Numbers - meaning, types - wholesale pice index, consumer price index and index of industrial production, uses of index numbers: Inflation and index numbers. Part C: Developing Project in Economics 20 Periods The students may be encowaged to develop projects. as per the suggested project guidelines. Case studies of a few ongansition outlets may also be encouraged. Under this the students wil do only ONE comprehensive project using concepts fom both part A end part B, Somme ofthe examples ofthe projets area follows (thy are not mandatory but suggestive) (0) A report on demoaaphic sucture of You eighboriood. (i) Changing consumer awareness amongst ousehols (i) Dissemination of price information fr grower and its impact on consumers (iv) Study ofa cooperative institution: milk cooperatives, marketing cooperatives, ec (@) Case stdies on pubs perinte partnership outsourcing and outward Foreign Dios Investment. (2) Global warming (Gi) Designing eeo-endly projects applicable in shoo! such as paper and water recycle, ‘The de tind introducing this ni o cable the weds to develop the ways and means by which ‘project cam be developed sing the shill Tetoed in he course. This includes al the steps involved in ‘esigning «project staring from choosing a tile, exploring the information relating to the title, collection of primary and secondary data. analysing the data, presentation of the project and using ‘various statistical tols and ter interpretation and conclusion.Suggested Question Paper Design ‘Economies (Code No. 030) (Class XI (2018-19) March 2019 Examination ‘Theory: 80 marks + Project: 20 Mar Dur ‘S| Typology of Questions Ne vay Store none Mar. Short ‘Anever | 3s Toms Gators T | Rene Rowing based Siaple reall questions, 1 Know semi of spac Tat em, once, pensples, oF tzases dant nforaton) ? = ae 7 [Uadestina( compre {0 undarsand" conoeply. Jute, compare, cola, ‘pti, parphee, or pee Sefton) Te | Applicaton — (Use abst ‘norman in const ston, te apt hala 10 Inet sina, rosie an example or solve soblen 7 7] iia Orie Thing SE (Anatyss& Syuhess Classi ‘cape, cots different Tecteen difrea pices of Sifomution, Organize ane lntgrate wigs ples of fnforation fom a vanty of w 17% sou =] ithaca ad Wa Disciplinary (Appraise, odes tnd just te tae oe Worth ft 2 desion oF oxen, or 10 prt ntcmes sed oles) 1 “otal a Theory 080 rect ero marks To ‘There will be Internal Choice in questions of 3 mars, 4 marks and 6 marks in both sections (A and Bi). (Total 3 internal choices in section A\ and total 3 internal choices i section B). ECONOMICS CLASS - XII 018-19) “Thcory: Marks Projet: 20 Marke 3 Hours Units Waris | Periods Part A [ Tatroductory Microeconomic Tatroducion 7 ¥ ‘Consumers Pquilium and Demand F = Producer Behaviour and Supply 3 Forms of Market and Price Detrminaton andar perect [10 w competition with simple applications o 100 Part B | Introductory Macroeconomics ‘National income and Related Avwreoniss iw a ‘Money and Banking 5 1s ‘Determination of some and Employment Ea ‘Government Bdge andthe Eeonomy @ 1s Balance oF Payments o 1 o 100 Parte | Projet Work Ww w Part A: Introductory Microeconomics Unit: Introduction 8 Periods ‘Meaning of microzenomics and macroesonomics; postive and normative economics ‘What i an economy? Cental problems of sn economy: what, how and for whom vo produce ‘concepts of production possibilty frontier and opportunity cos. Unit Consumer's Equilibrium and Demand 32 Periods Consume’ eqtilibcum ~ meaning of wily, marsina uit, law of diminishing marginal ‘lity, conditions of sonsumer’ equilibria using marginal uit analysis. Indifference curve alysis of consumer's equiibriam-the consumer's budget (budget set and ‘budgct ine), references ofthe consumer indiference curve, indifference map) and conditions ‘of consumers equi. ‘Domund, market demand, determinant of demand, demand schodule, demand curve and its slope, movement along and shifts i the demand curve: price elastin of demand » Factors Miecing price eaticty of demand: measurement of price clastiity of demand — percentagechange nthod, int 3: Producer Behaviour and Supply 32 Periods “Meaning of Producti Funct ~ Shor-Ram snd Long-Run Total Product, Averoge Product and Marginal Product Reruns to Factor