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Liberalisation, Privatisation and Globalisation: An Appraisal — Study Plan

CBSE · Class 11 · Economics

A step-by-step study plan for Liberalisation, Privatisation and Globalisation: An Appraisal, CBSE Class 11 Economics: what to learn first, what.

123 questions72 flashcards5 concepts

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Study Plan

1
Day 1–2

Learn the Theory

Read the textbook chapter carefully. Note down definitions, formulas and key ideas. Focus on: 1. Background of the 1991 Economic Crisis and Reforms, 2. Liberalisation, 3. Privatisation and Public Sector Enterprises.

2
Day 3

Practise

Solve the textbook exercises and extra practice questions. There are 123 questions available for this chapter.

3
Day 4

Revise & Test

Revise key points without looking at your notes. Take a practice quiz and mark weak areas for another pass.

4
Day 7

Spaced Revision

Come back to Liberalisation, Privatisation and Globalisation: An Appraisal after a week. Use flashcards for quick recall and try past exam questions on this chapter.

What to Focus On

  • The 1991 crisis was linked to low foreign exchange reserves, high inflation and external debt.
  • Foreign exchange reserves were not enough for even a fortnight of imports.
  • India received $7 billion from the World Bank and IMF.
  • New Economic Policy is the reform package announced in 1991.
  • Stabilisation measures are short-term.
  • Structural reform measures are long-term.
  • Liberalisation means fewer controls on business activity.
  • Industrial licensing was removed for almost all industries.
  • RBI’s role in finance shifted from regulator to facilitator.

Common Mistakes to Avoid

Liberalisation, privatisation and globalisation are the same thing.

The 1991 reforms were only a set of short-term emergency steps to deal with the crisis.

The World Bank and the IBRD are two different institutions.

Memory Tips

1991 economic crisis and foreign exchange shortage

World Bank and IMF loan of 7 billion dollars

New Economic Policy and its broad nature

Two groups of reform policies: stabilisation and structural reform

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Frequently Asked Questions

What are the important topics in Liberalisation, Privatisation and Globalisation: An Appraisal for CBSE Class 11 Economics?
Key topics in Liberalisation, Privatisation and Globalisation: An Appraisal include Background of the 1991 Economic Crisis and Reforms, Liberalisation, Privatisation and Public Sector Enterprises, Globalisation and the World Economy. Study these first, then practise questions on each for Class 11 exams.
How should I revise Liberalisation, Privatisation and Globalisation: An Appraisal for Class 11 exams?
Learn the core ideas first, then work through the 123 practice questions on Liberalisation, Privatisation and Globalisation: An Appraisal. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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