Curriculum structure
CBSE specifies 80 theory marks and 20 project marks. The seven units cover three Statistics units and four Microeconomics units.
Verified syllabus units (7)
Statistics for Economics · Introduction
Economics studies choices under scarcity. Statistics provides methods to collect, organise, present and interpret economic information. A statistic without source, definitions and context can mislead.
Collection, Organisation and Presentation of Data
Distinguish primary/secondary data and census/sample. Specify population, variable and sampling method. Organise observations in frequency distributions, then select tables, bar or pie diagrams, histograms, frequency polygons, ogives or time-series graphs suited to the data.
Statistical Tools and Interpretation
Choose arithmetic mean, median or mode to suit the distribution. For paired ungrouped observations, examine scatter diagrams, Karl Pearson correlation and Spearman rank correlation (including ties); correlation describes association and does not establish causation. A simple aggregative price index is Σp₁/Σp₀×100. Interpret CPI, WPI and IIP with their base period and coverage.
Introductory Microeconomics · Introduction
Microeconomics studies individual decision-makers and markets; macroeconomics studies economy-wide aggregates. Scarcity forces choices about what, how and for whom to produce. A production possibility frontier shows feasible combinations and opportunity cost.
Consumer’s Equilibrium and Demand
Utility is satisfaction; marginal utility is the change from one additional unit. Under marginal utility analysis, equilibrium requires equal marginal utility per rupee across goods (with the budget used). Indifference-curve analysis uses preferences, a budget line and a tangency condition. Demand relates price and quantity demanded, other things equal. Price changes cause movement along the curve; income, tastes and related-good prices can shift it. Measure elasticity by percentage-change or total-expenditure method.
Producer Behaviour and Supply
Relate the production function, total/average/marginal product and returns to a factor. Short-run costs include TFC, TVC, TC, AFC, AVC, AC and MC; revenue includes TR, AR and MR. Producer equilibrium uses MR=MC with MC rising through MR. Supply and price elasticity of supply depend on price and other determinants; distinguish movement along the curve from a shift.
Perfect Competition, Price Determination and Applications
Perfect competition has many buyers and sellers, homogeneous products, free entry/exit and firms that accept the market price. In the short run, market price is determined where demand equals supply. A binding ceiling below equilibrium can create shortage; a binding floor above equilibrium can create surplus. Explain effects with labelled curves and equilibrium points.