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Regenerative Economics x CBSE (India) Mapping
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This spreadsheet indicates possible footholds in the CBSE syllabus for Regenerative Economics content.
Note: This is a living document. More Regenerative Economics content will be added as we develop the work 2025
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Year XI
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CBSE Economics SyllabusRegenerative Economics Textbook SectionsAdditional comments
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Part A: Statistics for Economics
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Unit 1: Introduction
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What is Economics? Meaning, scope, functions and importance of statistics in Economics1.1.1 The economy and you

1.1.2 The embedded economy		The concept of scarcity is one that can and should be challenged at the start of the AP Macroeconomics course

Scarcity assumes that resources are limited, which is true. Some are stock limited (as in fossil fuels) and others are flow limited (hydro, solar, wind, food harvests, etc). But scarcity also assumes that human needs and wants are unlimited, which is not true. Human needs are quantifiable and limited. Human wants are socially shaped. So the assumption of scarcity should not be treated as fact.

The scarcity assumption has a number of damaging consequences. It complements another damaging assumption, that human beings aim to maximise personal utility (and that this is rational behaviour). It assumes that we need to compete to get 'our share'. It undermines cooperation and reciprocity. The narrative also shifts the power dynamic between consumers and producers. If everything is scarce and people have to compete to get what they need and want, it gives firms more pricing power.

Later in the course, you could challenge students to consider how different the economics course might look if it started with the concept of sufficiency, rather than scarcity.

Students need to have a better understanding of how the economy is embedded in social and ecological systems. It's not enough to just say that we use land, labour, capital and entrepreneurship as factors of production. We are completely dependent on energy and matter from Earth's systems, and are depleting these and disturbing planetary processes at such an alarming rate that we threaten our own existence. These sections provide students some understanding of basic ecology to get this point across.

You could also provide more context about the factors of production by looking more closely at the energy and matter resources needed for production. Subtopic 1.2 has sections that explain basic ecology to help students understand how dependent we are on ecosystems, and the negative impact of our economies on those ecosystems.
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Unit 2: Collection, Organisation and Presentation of data
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Collection of data - sources of data - primary and secondary; how basic data is collected with concepts of Sampling; methods of collecting data; some important sources of secondary data: Census of India and National Sample Survey Organisation.
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Organisation of Data: Meaning and types of variables; Frequency Distribution.
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Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: (i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams (histogram, polygon and Ogive) and (iii) Arithmetic line graphs (time series graph).
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Unit 3: Statistical Tools and Interpretation

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Measures of Central Tendency - Mean, Median, Mode.
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Correlation – meaning and properties, scatter diagram; measures of correlation - Karl Pearson's method (two variables ungrouped data) Spearman's rank correlation (Non-Repeated Ranks and Repeated Ranks).
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Introduction to Index Numbers - meaning, types - Wholesale Price Index, Consumer Price Index and index of industrial production, uses of index numbers; Inflation and Index Numbers, Simple Aggregative Method.
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Part B: Introductory Microeconomics
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Unit 4: Introduction
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Meaning of microeconomics and macroeconomics; positive and normative economics 1.1.1 The economy and you

1.1.2 The embedded economy

1.1.3 Degenerative economies

1.1.4 Regenerative economies

1.3.1 Human nature

1.3.2 Values in the economy

1.3.3 Human needs

All of Subtopic 1.2 Ecology and the economy

1.2.1 Human-nature relationship

1.2.2 Energy basics

1.2.3 The impact of the fossil fuel energy pulse

1.2.4 Matter in the economy

1.2.5 Ecosystems: energy, interactions, stability

1.2.6 Biogeochemical flows

1.2.7 Planetary boundaries		The concept of scarcity is one that can and should be challenged at the start of the Economics course

Scarcity assumes that resources are limited, which is true. Some are stock limited (as in fossil fuels) and others are flow limited (hydro, solar, wind, food harvests, etc). But scarcity also assumes that human needs and wants are unlimited, which is not true. Human needs are quantifiable and limited. Human wants are socially shaped. So the assumption of scarcity should not be treated as fact.

The scarcity assumption has a number of damaging consequences. It complements another damaging assumption, that human beings aim to maximise personal utility (and that this is rational behaviour). It assumes that we need to compete to get 'our share'. It undermines cooperation and reciprocity. The narrative also shifts the power dynamic between consumers and producers. If everything is scarce and people have to compete to get what they need and want, it gives firms more pricing power.

Later in the course, you could challenge students to consider how different the economics course might look if it started with the concept of sufficiency, rather than scarcity.

Students need to have a better understanding of how the economy is embedded in social and ecological systems. It's not enough to just say that we use land, labour, capital and entrepreneurship as factors of production. We are completely dependent on energy and matter from Earth's systems, and are depleting these and disturbing planetary processes at such an alarming rate that we threaten our own existence. These sections provide students some understanding of basic ecology to get this point across.

You could also provide more context about the factors of production by looking more closely at the energy and matter resources needed for production. Subtopic 1.2 has sections that explain basic ecology to help students understand how dependent we are on ecosystems, and the negative impact of our economies on those ecosystems.
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What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of Production Possibility Frontier and Opportunity Cost.
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Unit 5: Consumer's Equilibrium and Demand
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Consumer's equilibrium - meaning of Utility, Marginal Utility, Law of Diminishing Marginal Utility, conditions of consumer's equilibrium using marginal utility analysis. 1.3.1 Human nature

1.3.2 Values in the economy

1.3.3 Human needs		Other sections of Subtopic 1.3 Society and the economy may be interesting for students, to see the social factors that impact human decision-making (other than individual preferences)
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Indifference curve analysis of consumer's equilibrium-the consumer's budget (budget set and budget line), preferences of the consumer (indifference curve, indifference map) and conditions of consumer's equilibrium.
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Demand, market demand, determinants of demand, demand schedule, demand curve and its slope, movement along and shifts in the demand curve; price elasticity of demand - factors affecting price elasticity of demand; measurement of price elasticity of demand – percentage-change method and total expenditure method.
3.1.2 Demand and supply

3.1.3 Elasticity		See comment below on the approach to demand and supply
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Unit 6: Producer Behaviour and Supply



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Meaning of Production Function – Short-Run and Long-Run
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Total Product, Average Product and Marginal Product.
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Returns to a Factor
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Cost – Short run costs - Total Cost, Total Fixed Cost, Total Variable Cost; Average Cost; Average Fixed Cost, Average Variable Cost and Marginal Cost - meaning and their relationships.
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Revenue – Total Revenue, Average Revenue and Marginal Revenue - meaning and their relationship.
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Producer's Equilibrium - meaning and its conditions in terms of Marginal RevenueMarginal Cost.
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Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply - percentage-change method. 3.1.2 Demand and supply
See comment below on the approach to demand and supply
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Unit 7: Perfect Competition - Price Determination and Simple Applications

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Perfect competition - Features; Determination of market equilibrium and effects of shifts in demand and supply. (Short Run Only) 3.1.1 The market as a system

3.1.4 Uses and limitations of markets

3.2.1 Capitalism: definition and development

3.2.2 Capitalism: an evaluation

3.2.3 Law and markets

3.2.4 Market power

3.2.5 Moral limits of markets		Regenerative Economics does not use linear demand/supply analysis. Instead the materials use causal loops with balancing and reinforcing feedback to illustrate the relationships between demand/supply, price and non-price factors.

This approach gives students a more complex and dynamic understanding of markets. It is, however, a significant departure from the syllabus so must be used carefully, especially as students can lose many marks on the exam for nitpicky graphing errors.

Here is a research paper that compares using linear supply and demand analysis with causal loop diagrams with secondary students. https://www.researchgate.net/publication/343092493_Using_Visual_Representations_to_Enhance_Students%27_Understanding_of_Causal_Relationships_in_Price

The introduction to markets is also an opportunity to present some critiques of markets as a provisioning institution. Section 3.2.5 references Micheal Sandel's work on the Moral Limits of Markets to help students understand where markets do and do not belong in our economies. The two sections on capitalism help students understand what the difference between markets and how the profit maximising behavior of businesses under capitalism undermines social and ecological systems.
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Simple Applications of Demand and Supply: Price ceiling, Price floor.
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Part C: Project in Economics
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Guidelines as given in Class XII curriculum
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