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Saturday 17 October 2020

ECONOMICS REDUCED SYLLABUS, CLASS 11, 2021

 

fbise HSSC REDUCED SYLLABUS

ECONOMICS-XI

I. Nature and Scope of Economics

A. Introduction

 1. Wants and satisfaction

 2. Goods and services

 3. Utility and scarcity

 4. Economic problems and its nature.

 5. Definition by:

 a) Adam Smith

 b) Alfred Marshall

 c) Lionel Robbins.

II. Consumer’s Behaviour and its Analysis

1. Definition

2. Meaning

3. Rationale

4. The law of diminishing marginal utility with table and graph.

5. The law of equimarginal utility or law of substitution with formula and diagram.

6. Indifference curve.

7. Definitions and Characteristics (graphical presentation).

III. Basic Tools of Statistics and Mathematics in Economics

i.) Variables:

 Continuous discontinuous, independent dependent.

ii.) Liner equation with group.

iii.) Quadratic equation.

iv.) Simultaneous equations.

IV. Demand

1. Definition.

2. Law of demand.

3. Demand function and functional equation of demand.

4. Movement along the demand curve and shift in demand curve.

5. Price elasticity of demand (Arc & point) and methods of measurement.

6. Concepts of income elasticity and cross-elasticity of demand.

7. Factors influencing the elasticity of demand.

8. Practical uses of the concept of elasticity of demand.

V. Supply

1. Definitions stock and supply.

2. Law of supply.

3. Supply functional equation of supply.

4. Movement along the supply curve and shift in supply curve.

5. Elasticity of supply and its measurement.

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6. Factors influencing the elasticity of supply.

7. Practical uses of the concepts.

VI. Equilibrium

1. Concept of equilibrium.

2. Equilibrium of demand and supply.

3. Equilibrium in price and equilibrium in output.

4. The effects on equilibrium in price and output due to change in demand and

supply.

IX. Cost of Production

1. Definition, classification, Fixed and variable.

2. Total, average and marginal cost.

3. Relationship between total average and marginal cost. X. Revenue Analysis

1. Definition.

2. Total marginal and average revenue under perfect competition and monopoly.

3. Price and output determination and short and long run under perfect competition

and monopoly.

XI. Market

Meaning and significance of market.

1. Perfect competition and monopoly.

2. Short run and long run in perfect competition and monopoly.

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