Chapter 1: Introduction to Macroeconomics What is Macroeconomics? Macroeconomics studies the economy as a whole, focusing on broad economic questions that concern all citizens: Will prices rise or fall overall? Is employment improving or worsening? What indicates economic health? What steps can the State take to improve the economy? Key Difference from Microeconomics Microeconomics: Studies …
Gist of the Chapter 1: Development Policies and Experience (1947–90) This NCERT Class 11 Economics chapter reviews India’s economic policies and achievements in the first four decades after independence. In 1947, India inherited an economy marked by colonial exploitation, poverty, low agricultural and industrial productivity, and inadequate infrastructure. To address these challenges, the government adopted …
Gist of NCERT Class 11: Indian Economic Development Read More »