ECONOMICS-std. 11th

Economics is a social science which deals with the fulfillment of human wants with limited available resources. As an academic subject, it includes consumer behavior, producer behavior, price determination, national income, the role of government in the economy, banking, concept, and evolution of money, international trade, etc. Economics is broadly divided into two branches – microeconomics and macroeconomics. Microeconomics deals with an individual component of the economy whereas macroeconomics is concerned with the economy as a whole. The microeconomic analysis is important for business decisions while macroeconomics is important for national-level policymaking. Economics seeks answers to the questions like, why does the inflation occur? Is it good or bad? Why unemployment rises? Whether the high population is a blessing or a curse? etc. It’s pretty interesting to learn the science behind the economic phenomena happening around us and I am going to teach this subject in the most possible comprehensive way.