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Syllabus of Higher Secondary
Standard - 11 & 12
(General Stream - English Medium)
Implemented From June - 2004 in Standard - 11,
Implemented From June - 2005 in Standard - 12

Economics (022)

Standard: 11

1. Significance of statistical Details in the studies of Economic problems of India.

• Objects:
  a) From the point of view of determining the magnitudes (size) of any economic problem.
  b) From the point of view of comparative studies.
  c) From the point f view, of Logical inferences (conclusions).
  d) From the point of view of Diagrammatic Representation.

• Utility of Statistical Details : (in)
  a) Population b) Un employment
  c) Poverty
  The studies must be supported by graphs, diagrams & date schedules. (tables)

2. Economic Growth & Development

• Views of economic Development.

• Indicators of growth
  a) Per capital Income
  b) Rate of standard of living.
  c) Rate of Human capital Development.
  (Only introductory explanation)

• Difference between economic growth & economic Development.

• Sustainable living Std. & quality of life. (Std. of living)

• Features of Indian Economy as a developing economy.

3. Structure of Indian Economy

• Details about the conditions of Indian economy before Independence.

• Change brought about after the independence in planned economy.

• Occupational Structure in Indian economy

• Contribution of Agri, Manufacturing & services in the national income.

4. Infrastructure:

• Meaning & Nature

• Core sector: 1) Electricity 2) Transport 3) Communication.

• Social sector: 1) Education 2) Health 3) Accommodation (Resi.)

5. Development Programmes (up to 1991)

• economic planning - Meaning - main (general) objects - features of economic policies - Achievements & Failures.

6. Economic Reform: after 1991

• Need for economic reforms & their features. Liberalization. Globalization & Privatisation.

7. Population of India.

• Size & Rate of growth of population.

• Effects of population on economic Dev.

• Causes of high birth rate.

• Measures to control growth rate of population.

8. Poverty in India

• Concept of Absolute to Relative poverty. Main measure to alleviate poverty.

9. Un employment in India

• Meaning of Un employment - kinds Nature of Un employment - causes – Measures to remove un employment.

10. Other Problems in India.

• Problem of protection of ENVIRONMENT (Pollution)

• Problem of large differences in sex ratio.

• Problem of Migration to urban areas & Brain drain.

11. Urbanization

• Process of urbanization - positive & negative (Rackless) effects of Urbanization.

• Policy of Urbanization in India.

12. Agriculture sector

• Agri as the back bone of Indian economy.

• Growth & Dev. of Agri & its expansion impact.

• Productivity in Agri - Per Hectare &
  Labour productivity - problem of low productivity - Measures to improve the productivity.

13. Industry (MFG.) in India.

• Importance of Industrialisation in India.

• Basic Industry.

• Problems of medium & small industry.

• Measures of the Govt. to improve the S.S.I.S.

Standard : 11
PART - 1 (1) Micro Economies

(1) Economic Problem.

Nature causes m Emergence of economic activities.
Their Meaning & illustrations [nature of the problems of scarcity & Abundance (of means)

(2) Definitions of Economics.

Ideology of the eastern areas

• Views of kautilaya

Ideology of the Western Areas

• Adam Smith, Marshall Robbins.
  Over & above the definitions acclaimed Universally.
  (Is Economics a science or an Art or both. (Not based on being In formative but goal oriented)

2.1. Consumer behaviour & Demand.

Consumer Equlliriurn Meaning (Maximum Satisfaction) Views of Marshall Views of Prof. Hick Marshall

- Marginal Utility - Diminishing Marginal
- Dimishing Marginal - rate of returns.
- Utility & Price . - Equi marginal Utility. equilibrium

2. Demand

• Meaning - kind - determinant factors - Individual demand & market demand. Law of demand - demand schedule - Explanation through Downward falling DD Curve.

• Exceptions to the law of Demand m increase & Decrease (with a comparison of Expansion & contraction demand - Expan. & contract of D.D. (in relation to price.)

3. Elasticity of Demand

- Meaning -

1. Price elasticity of DID.

2. Income Elasticity of DD.

3. Unitary Elasticity of DD.
   Methods of measuring price elasticity of DD.
   a) Percentage Method.
   b) Total Expenditure Method.
   c) Geometric Method. (illustration based Explanation)

(1) Attitude of Producers & Supply -

• Equilibrium of Production - Meaning (maximum Profit)

• Meaning of supply - kind - Individual firm supply & Market supply.

• Factors determining supply.

(2) Law of supply.

• Supply Schedule m Upward rising SS curve - limitations.

• Expansion & Contraction of SS & Increase & Decrease of SS. (In relation to the price & other factors)

• Methods of measuring price Elasticity of SS.
  a) Percentage Method
  b) Geometric Method
  c) Total Income (revenue) Method

(3) Concept of production Cost.

• Real Cost

• Alternative Cost

• Financial Cost
  Classification of costs based on time factor.

• SHORT RUN COST

• LONG RUN COST
  In SHORT RUN COST the inter relationship between FIXED COST, VARIABLE COST, TOTAL COST, AVERAGE COST, MARGINAL COST.

(4) CONCEPT OF REVENUE
The Concept of TOTAL Revenue, AVERAGE Revenue, MARGINAL Revenue, & their Inter Relationship.

1. Nature of Market & Price determination.
   - Meaning of market m kinds m classification of Market. Limitations.

2. Kinds of Market
   a) Perfectly competitive Market.
   b) Monopoly Market.
   c) Imperfectly comparative Market.
   (Only meaning & their features are expected)

3. Price Determination
   - Price determination in perfectly competitive market
   - Equilibrium price & the effects of charges in DD & SS on price.

5. Determination of cost of production

• Meaning of factors of production.
  Four factors of production
  (LAND, LABOUR, CAPITAL & ORGANISATION)

• Factors Demand - Meaning

• Factors Supply - Meaning

• Factor Cost determination in competitive market (Diagrammatic presentation is expected)

Part-II (02) MACRO ECONOMICS

1. Macro economics - Meaning, features & Functions

- Inter relationship between unit oriented Economics & Universal oriented, Economics.

2. National Income (NI)

- Explanation of all concepts related to National Income.

3. Measurement of National Income & Related Studies.

1. Circular Flow of National Income.
   - Three Methods.
   a) Three Methods ( Income, Experdutery + Production)
   b) G.D.P
   c) G.N.P.
   d) N.D.P
   e) N.N.P
   (N.Y at Factor Cost & Market Price)
   - National Income at Factor cost
   - Total Income
   - Real Income
2. Methods of Measuring MY
   - Income
   - Expenditure
   - Production of output (some coin with three sides)

4. Income & Employment determination

1. Total DD & Total SS - The factors affecting them - spending Attitude & savings & Investment Attitude. “Average” & “Marginal” view)
2. Employment
   - Employment - Meaning & types
   - Unemployment- Meaning & types
   (voluntary & other kinds)
   - Boom (Max. DD) & the problem related to ft.
   - Scarcity of DD (“stack”) & the problem related to it.

5. Finance (money) & Banking

• Money - meaning & Functions

• Supply of Money - Meaning

• Demand for Money - Meaning

Banking

• Meaning, Commercial banks - Meaning & Function

• Central Bank (R.B.I.) Meaning & Function

Budget

Budget of the Government - Meaning, Area of its operation, significance & kinds of budget

• Surplus budget & Deficit budget

• object of Budgeting

Balance of Payment

• Foreign Exchange - Meaning & the methods of deteraining foreign exchange

• Foreign Exchange Rate & Points of Distinction.

• Balance of Trade & Balance of Payment - Meaning

Instructions:

1. In micro economics, you are expected to provide the explanation based on illustration, figures, schedules etc.

2. Observe the studies of Micro economics first.

3. Support your explanation of Macro economics with figures, schedules, graphs & diagrams.

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