Class 11 Economics should be paid great attention by students to score in their class 12 Board Exams as it will act as a base for class 12 economics. Previously, Economics was just a part of your Social Science subject but now you will have to study economics deeply and lots of new and interesting concepts. So, keep your curiosity high for studying a new kind-of subject in your Class 11.
Class 11 Economics will be divided into two parts namely theory and practical. Further, your theoretical part will be also divided into two parts namely microeconomics and statistics. Microeconomics consists of all the graphs of curves and theories. You must have studied the second part of economics, which is statistics, in your previous class maths subject. So, microeconomics will be a completely new and scoring subject for all the students. Furthermore, Microeconomics and Statistics will contribute 60 marks and 40 marks to your final Economics exam respectively. It is recommended to students that they should start with statistics as they are quite familiar with its concepts like mode, mean, median, range, pie chart, histogram, bar graph, etc. so as to have a firm grip on at least 40 marks in your exam. To help you out, here are some super helpful tips for preparing for your class 11 economics subject.
• Microeconomics
In microeconomics, there are 1,3,4 and 6 marks questions. For one marker, you have to do a thorough study of your NCERT Books Class 11 Economics. Here are some of the questions which can be asked for one markers:
~ Very Short Questions in which you have to write one word or one sentence.
For example:
Question: What is the basic reason for economic problems?
Answer: Limited resources/ The basic reason for economic problems are limited resources.
In every case, you have to underline the main keyword of your answer in order to make it easy for the checker.
~ Multiple Choice Questions in which you have to select the correct option. It is recommended to be very careful while writing down the correct option.
For example:
Question: Which of these is an economic problem?
A) Limited resources
B) Unlimited human wants
C) Alternate usage of resources
D) All of the above
Answer: D) All the above.
You have to first write the option number or alphabet and then write the answer in order to avoid any confusion.
~ True/False in which you will be given a statement and you have ro determine if the given statement is true or false. After writing if the statement is true or false, you have to write the reason why the given statement is true or false and underline the main keyword of your answer.
For 3 marks questions, you have to write your answer in three lines 30 to 40 words. If the answer to this question includes a diagram too, draw it very simply with minimal labelling. There is no need to make schedules or tables to make your answer more lengthy for the examiner.
For 4 marks questions, you have to write your answer in 60 to 80 words along with the diagram and detailed explanation in tabular form to make the answer more understandable. Be very neat with tables by using pencil and scale. Also, never forget to make a separate column for serial numbers.
For 6 mark questions, your answer has to be very detailed and self-explanatory. Your answer has to be between 120-150 words along with a diagram, tabular form explanation, and a little conclusion of 2-3 lines. Don’t write your answer in paragraphs, instead use points. Don’t draw diagrams or tables at the end of your answer. Write an introductory paragraph and end that paragraph with a line that connects a link to your diagram. Draw the diagram and table (if required), and then continue your answer.
• Statistics
This part belongs to the practical area of your class 11 Economics and in your theory, you can lose marks due to some confusion but in practice, there are minimum or no chances to score less than 38-39 marks. You have to focus a lot while drawing graphs or bar graphs in this section. Try to solve previous years’ questions a lot for getting a rough idea, which curve is asked more frequently in the final exam. Also, try different sample papers from your reference books to boost up your confidence. This section mainly deals with numerical values so you have to be very attentive while calculation.
Maintain a separate formula sheet along with a little example of a basic question in which this particular formula is getting used. Don’t try to cram your formulas. Statistics also includes a little introductory theory at the starting of every chapter and many students tend to miss that. Read each and every word of your theory and try to understand it by writing it again and again. Before starting a new chapter, memorize previous chapters’ formulas and theories.
Measures of central tendency, Dispersion, and Correlation are some of the important topics that a student must complete from NCERT along with other reference books too. Don’t write stories in your Economics exam. You have to be precise and straight to the point of writing your answer. Avoid silly addition and subtraction mistakes. Double-check your calculations after every question with utmost dedication. It’s okay if you take more time than others for preparation, so focus on yourself and your studies. Take breaks and contact your teachers or tutors immediately if you get a doubt. Do not fill in sheets with doubts and don’t waste time with distractions. Economics can be a very scoring subject only if you get on with your preparation effectively.