Class 10 2023-24 Economic Applications syllabus ICSE: Syllabus is mandatory whether it is the beginning or end of the academic year. The new academic year 2023-24 is all set to fly and students need to have syllabi for all their subjects. At the beginning of the academic year syllabus plays important role in giving an understanding of what needs to be covered in the book. At the end of the academic year, it helps students to avoid wasting time on unnecessary topics. This article is for students who have opted for Economic Applications as one of their elective subjects. Here you will find the well elaborated ICSE Class 9 Economic Applications 2023-24 syllabus for ICSE Class 9. The pdf of the syllabus is also attached for free download. Read the complete article to more about the ICSE Class 9 Economic Applications syllabus 2023-24.
ICSE Class 10 Economic Applications Aims:
- To familiarize students with the basic concepts of economics and economic phenomenon.
- To develop their analytical skills.
- To provide students with hands-on experience in analyzing economic problems that they normally come across.
ICSE Class 10 Economic Applications Syllabus Key Pointers
- There will be one theory paper of two hours duration of 100 marks and an Internal Assessment of 100 marks.
- The paper will consist of Part I and Part II.
- Part I (compulsory) will contain short answer questions on the entire syllabus.
- Part II will consist of questions that will require detailed answers. There will be a choice of questions.
ICSE Class 10 Economic Applications Syllabus 2023-24
THEORY – 100 Mark
| 1. Demand and Supply: Basic Concepts |
| Demand - Meaning and Types of Demand Supply - Meaning Law of demand and supply: demand and supply schedule and curve (both individual and market); movement and shift of the demand and supply curve; determinants of demand and supply; exceptions to the law of demand. Meaning of Demand and Supply. Types of Demand (Joint Demand, Derived Demand and Composite Demand). A basic understanding of the law of demand and supply in which demand and supply schedules are to be used to explain the demand and supply curves. The individual demand and supply curves must be distinguished from market demand and supply curves. Determinants of demand and supply are to be specified. Exceptions to the law of demand are to be discussed. Elasticity of demand and elasticity of supply Meaning, types; percentage, method of measuring elasticity of demand and elasticity of supply, Factors affecting elasticity of demand and elasticity of supply. The concept of price elasticity of demand and supply are to be explained with percentage method. The factors affecting the elasticity of demand and supply are to be specified. (Simple numericals should be taught) |
| 2. Factors of Production: Basic Concepts |
| Factors of production- Land, Labour, Capital and Entrepreneur. Land- meaning and characteristics, functions and its importance, factors affecting productivity of land. Destruction of ecosystem due to changing patterns of land use, migration, industrialization, shifting cultivation, dwelling units, mining, urbanization, construction of dams, etc. Labour- meaning and characteristics. Division of labour - meaning, types, advantages and disadvantages. Efficiency of labour - meaning, reasons for low efficiency of Indian labour. Capital - meaning, types and characteristics. Capital formation - meaning, factors affecting capital formation. Entrepreneur - meaning, functions and role of entrepreneurs in economic development. |
| 3. Alternative Market Structures: Basic Concepts |
| Nature and structure of markets- Perfectly competitive market, Monopoly market, monopolistically competitive market, concept of product differentiation, Monopsony market. The main features of the following market structures are to be discussed in the context of present business scenario – Perfectly competitive market, Monopoly market, monopolistically competitive market, Monopsony market (meaning to be highlighted). |
| 4. The State and Economic Development |
| The role of State in promoting development; the instruments of State intervention- fiscal policy and monetary policy; The Public sector enterprises - their role and problems; the issue of privatization of public enterprises. A basic understanding of the role of the State in the economy needs to be highlighted in the context of Indian economy. The meaning of fiscal policy. Direct and Indirect Taxes (meaning, merits and demerits), Types of Taxes (progressive, regressive, proportional and degressive- meaning with examples). Monetary Policy – meaning only. Public sector - its role and problems. Reasons for Privatization. |
| 5. Money and Banking: Basic Concepts |
| Money: meaning, functions of Money; Inflation - meaning, effects of inflation on the functioning of the economy (in brief). Banking: Commercial Banks - functions; Central Bank - functions; quantitative and qualitative credit control measures adopted by RBI. A basic understanding of the concepts of money, its functions. Meaning and types of inflation to be discussed (Creeping, Walking, Running and Hyper-inflation). The impact of inflation on various economic entities such as debtors and creditors, fixed income groups and producers are to be explained very briefly. Functions of commercial banks and functions of RBI - qualitative and quantitative controls used by the RBI as part of its credit control measures should be explained. NOTE: It is suggested that case studies may be discussed on the following topics:
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| INTERNAL ASSESSMENT – 100 Marks |
| Candidates will be required to do a minimum of four assignments during the year, as assigned by the teacher. |
Economic Applications Internal Assessment: Proposed Guidelines For Marking With Grades
| Criteria | Preparation | Procedure | Observation | Inference | Presentation | Marks |
| Grade I | Excellent choice of firm, appropriate to project; clear identification of aspect to study; good research. | Originality and relevance; creative, rational and structured thinking; effective model; good questionnaire. | Systematic record of data; good arrangement of data; independent market survey; creative representation. | Information fitted correctly to model; work indicates understanding, good comprehension of subject. | Methodical, precise and clear expression; neat and tidy presentation; optimum utilisation of skills | 4 marks for each criterion |
| Grade II | Relevant choice of firm; identified aspect to study; adequate research. | Originality and structured thinking; adequate framing of questions; good insight. | Able to record data, but not step-by-step; able to grasp information; independent market survey. | Can judge and grasp information correctly; conclusion quantitatively evaluated. | Work neat and tidy and clearly presented; methodical and appropriate techniques used. | 3 marks for each criterion |
| Grade III | Adequate choice of firm; some idea of what to study; some information gathered. | Records information correctly but lacks originality; independent framing of questions. | Assistance required in presenting, recording and arranging data; can conduct market survey | Requires some assistance to relate data to model; able to relate to economic scenario. | Reasonably clear but work disorganised in places; writing untidy in places | 2 marks for each criterion |
| Grade IV | Firm selected but continuous assistance required for collection of information. | Unable to form a correct model; requires assistance to prepare questionnaire. | Tends to make mistakes in organising data; some ability to conduct market survey. | Assistance required in order to grasp the relevant and validity of information; tends to make errors. | Sequence of work acceptable but not very neat; poor presentation. | 1 mark for each criterion |
| Grade V | Lack of perception of the subject and objective; lack of effort. | Not able to comprehend concept of a model; unable to prepare questionnaire even with assistance. | Faulty survey and mistakes in data; not able to proceed even with assistance. | Cannot process results; faulty conclusions in spite of assistance provided. | Data presentation untidy and disorganised; effort and initiative lacking. | 0 marks for each criterion |
Students must be aware of the list of suggested assignments by the CISCE as these will add to the grades of internal assessment. You can check and download the complete syllabus of Economic Applications and see the list of all suggested assignments in the pdf provided in the link below:
| Download ICSE Class 10 Economic Applications Syllabus 2023-24 PDF |
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