MASTERMIND SENIOR SECONDARY HIGH SCHOOL, SARANGPUR

SUBJECT ECONOMICS CLASS 11TH

FACULTY ALFIYA KHAN
PART "A" STATISTICS FOR ECONOMICS

Unit -1 Introduction
S.NO TOPIC LEARNING OBJECTIVES " To Learn About" DATE/ PERIOD
1
2 What is Economics? Economics defination and its concept by economists
3 Meaning, scope Economics defination and its concept by economists
4 functions and importance of statistics in Economics presentation , forecasting, decision making

Unit - 2 Collection, Organisation and Presentation of data

1 Collection of data - sources of data data collection, raw, finished, methods of data collection
2 primary and secondary sources of data collection raw data , etc
3 how basic data is collected with concepts of Sampling random selection of data under sampling , methods of sampling
4 methods of collecting data interview, questionnarie, surveys etc
5 some important sources of secondary data census, govt, tax reords, various departments
6 Census of India and National Sample Survey Organisation population count, agency which conducts surveys
7 Organisation of Data: Meaning and types of variables systematic arrangements of data
8 Frequency Distribution number, quantity , characterstics etc.
9 Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data ploting of data on graph
10 (i) Geometric forms (bar diagrams and pie diagrams) methods of data presentation
11 (ii) Frequency diagrams (histogram, polygon and Ogive) a methods of data presentation
12 (iii) Arithmetic line graphs (time series graph) methods of data presentation

Unot - 3 Statistical Tools and Interpretation

1 Numericals General
2 Measures of Central Tendency mean, mode , median
3 Correlation – meaning and properties measurement & expression of two variables, relationship
4 scatter diagram; Measures of correlation strength, direction, & form of the relationship of two quantitative variables.
5 Karl Pearson's method (two variables ungrouped data) method of calculating correlation with two variables
6 Spearman's rank correlation strenght & direction of assocaition between two ranked variables.
7 Introduction to Index Numbers - meaning, types value, quantity , price index
8 wholesale price index, consumer price index and index of industrial production average change in price at whole market and at consumer market.
9 uses of index numbers; Inflation and index numbers cost inflation index

PART "B" INTRODUCTORY MICROECONOMICS

Unit - 4 Introduction
1 Meaning of microeconomics and macroeconomics Diff. of I & A in both economic concepts
2 positive and normative economics economy based on facts & values , should be or ought to be.
3 What is an economy? definition, -structure , conditions of economic life of a country.
4 Central problems of an economy what, when, how, whom to produce
5 what, how and for whom to produce production in an economy based on needs & wants.
6 concepts of production possibility frontier and opportunity cost illustration of opportunoity cost using PPF

Unit - 5 Consumer's Equilibrium and Demand

1 Consumer's equilibrium state of maximum satisfaction
2 meaning of utility, marginal utility, law of diminishing marginal utility relationship between consumption and satisfaction from a commodity
3 conditions of consumer's equilibrium using marginal utility analysis behaviour of consumer on spending & satisfaction
4 Indifference curve analysis of consumer's equilibrium maximizing satisfaction at given level of income
5 the consumer's budget (budget set and budget line) maximun amount individual can spent on purchasing goods.
6 preferences of the consumer (indifference curve, indifference map) combination of two goods gives equal satisfaction to consumer
7 conditions of consumer's equilibrium three conditions
8 Demand, market demand, determinants of demand concept of demand, meaning, role of demand in pricing & vice versa
9 demand schedule, demand curve and its slope relationship of price and demand
10 movement along and shifts in the demand curve change in qty demanded when change in price
11 price elasticity of demand change in consumption of a productwith change in price
12 factors affecting price elasticity of demand substitute, luxry goods, income etc.
13 measurement of price elasticity of demand comparision of expenses ona good before & after change in price.
14 percentage-change method and total expenditure method methods to meaure ED

Unit - 6 Producer Behaviour and Supply

1 Meaning of Production Function – Short-Run and Long-Run factors of production, fixed in short term & variable in long run
2 Total Product, Average Product and Marginal Product Total Product, Average Product and Marginal Product
3 Returns to a Factor increase in production when one only factor is increased
4 Cost: Short run costs - total cost, total fixed cost, total variable cost fixed, variable, semi variable cost .
5 Average cost; Average fixed cost, average variable Average cost; Average fixed cost, average variable
6 marginal cost-meaning and their relationships change in cost when additional unit produced
7 Revenue - total, average and marginal revenue - meaning and their relationship change in revenue when additional unit is sold
8 Producer's equilibrium-meaning and its conditions in terms of marginal revenue - marginal cost maximum profit , minimum losses
9 Supply, market supply amount of an item producer willing & able to sell in the market
10 determinants of supply, supply schedule price, seller, taxes, technology etc
11 supply schedule, supply curve and its slope relationship between price and quantity supplied of goods
12 movements along and shifts in supply curve change in qty supplied when only change in price occurs
13 price elasticity of supply; measurement of price elasticity of supply - ratio of change in supply due to change in price
14 percentage-change method method to calculate price elasticity of demand

Unit - 7 Forms of Market and Price Determination under Perfect Competition with simple
1 Perfect competition - Features large buyer, knowledge, freddom, factors of production
2 Determination of market equilibrium qty demanded equals to oty supplied
3 shifts in demand and supply change in qty demanded when no change in price
4 Simple Applications of Demand and Supply price control, rent, black market, msp etc
5 Price ceiling, price floor fixation of price of goods at certain levels upper and lower caps.