ICSE Economics Syllabus Class 10: The Council for the Indian School Certificate Examinations (CISCE) Board has made available the complete syllabus for the Indian Certificate of Secondary Education (ICSE) Class 10 for the session 2024-25. The syllabus has been released on the official website, cisce.org. In this article, we have provided the details of the syllabus of Class 10 Economics.
The CISCE Board is responsible for conducting three examinations- ICSE Class 10, The Indian School Certificate (ISC -Class 12) and the Certificate of Vocational Education ( CVE- Year 12). The curriculum of ICSE enables students to choose from a vast range of subjects. Since the Board examination will be conducted as per the latest syllabus, students should go through the complete syllabus for information on exam pattern, course structure and internal assessment. The syllabus PDF is attached to this article for free download.
ICSE Class 10 Economics Syllabus Aims are as follows:
- To acquire the knowledge of terms, facts, concepts, trends, principles, assumptions, etc. in Economics.
- To develop familiarity with the basic terminology and elementary ideas of Economics.
- To acquire knowledge of contemporary economic problems and to appreciate the efforts being made to solve these problems.
- To develop an understanding of the Nation’s physical and human resources and how to avoid their misuse.
- To understand the various economic processes that help in improving our standard of living.
ICSE Class 10 Guidelines are as follows:
- There will be one paper of two hours duration carrying 80 marks and an internal assessment of 20 marks.
- The paper will be divided into two sections A and B.
- Section A will have questions which will require short answers and will cover the complete syllabus. Candidates will have no choice of questions.
- Section B will have questions which will require long answers. Candidates will be required to answer four questions.
ICSE Class 10 Economics Syllabus 2024-25:
- The Productive Mechanism
Factors of production: Land, labour, capital and entrepreneur: their impact on the production structure in an economy.
(i) Land: meaning and characteristics, the productivity of land – meaning only; factors affecting the productivity of the land.
(ii) Labour: meaning and characteristics; division of labour: meaning, type and advantages; efficiency of labour; meaning, reasons for the low efficiency of Indian labour.
(iii)Capital: meaning and characteristics and types: physical and financial capital- meaning with examples; Capital Formation; meaning, Process of capital formation; Need for capital formation;
(iv) Entrepreneur: meaning, functions and role of the entrepreneur in economic development.
- Theory of Demand and Supply
(i) Meaning and concept of Demand and Supply.
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; the concept of Demand, types of demand and concept of supply to be explained (with examples). A basic understanding of the law of demand and supply in which demand and supply schedules 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. The concept of movement and shift of Demand and Supply curves are to be explained. Determinants of demand and supply are to be specified. Exceptions to the law of demand are to be discussed.
(ii) 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 supply. The concept of price elasticity of demand and elasticity of supply are to be explained with the percentage method. Factors affecting the elasticity of demand and supply are to be specified. (Numerical problems are not for testing).
- Market
Meaning and types.
Meaning of Market; Types of Markets: Perfect competition, Monopoly, Monopolistic Competition, Oligopoly - meaning with examples; a brief understanding of the features of the different types of markets along with differences.
- Banking in India
(i) Money
A basic understanding of the inconvenience of the barter system and the evolution of money; legal definition of money; functions of money: medium of exchange, measure of value; standard of deferred payment, store of value.
(ii) Commercial banks:
Meaning and functions. Meaning. Functions of Commercial banks: Accepting deposits (a brief understanding of the types of deposits); Advancing loans (a brief understanding of the types of loans, and methods of advancing loans); Credit creation (a brief understanding of credit creation on the basis of Primary and derivative deposits).
(iii)Central Bank
Meaning. Functions of Central Bank: monopoly of Note issue; Bankers Bank; Banker, Agent and Advisor to the Government; Custodian of Foreign Exchange; Lender of the Last Resort: A brief understanding of the functions.
(iv) Monetary Policy of the Central Bank
(a) Qualitative Credit control measures: margin requirements; credit rationing; moral suasion.
(b) Quantitative Credit control measures: Bank Rate, Open Market Operations, Cash Reserve Ratio (CRR), Statutory Liquidity Ratio.
A brief understanding of the above.
(v) Demonetisation A brief understanding.
(vi) Public Finance
(a) Meaning of Public Finance.
(b) Sources of Public Revenue:
Tax Revenue.
Direct Tax (meaning, merits and demerits); Indirect Tax (meaning, merits and demerits); difference between direct and indirect taxes. Goods and Services Tax (GST) - Meaning and objectives; Progressive, proportional, regressive and degressive taxes - meaning only.
Non-tax revenue.
Meaning with examples.
(c) Public Expenditure. Meaning of public expenditure, Revenue and Capital expenditure with examples; reason for the growth of public expenditure in India.
(d) Public Debt.
Meaning and types of Public debts.
- Inflation
(i) Inflation, Wholesale Price Index (WPI), Consumer Price Index (CPI), Food Basket.
Meaning of the above.
(ii) Stages of Inflation Creeping, Walking, Running and Hyper – meaning only.
(iii) Types of Inflation: Cost-push inflation and demand-pull inflation
Meaning, causes and differences only (diagram not required). Positive and negative effects of inflation on production. Positive and negative effects of inflation on distribution with reference to fixed income group and business income group only.
- Consumer Awareness
(i) Consumer Exploitation and Consumer awareness.
Meaning of consumer exploitation; a brief understanding of the forms of consumer exploitation; reasons for exploitation of consumers in India - a brief understanding. Meaning of Consumer Awareness.
(ii) Consumer Rights & Duties.
A brief understanding of the above. COPRA - meaning and features; RTI - meaning and significance.
(iii)Food adulteration.
Meaning and harmful effects.
(iv) Technical and Administrative measures for Consumer Protection:
A brief understanding of Public Distribution System (PDS); Bureau of Indian Standards (BIS); AGMARK, ECOMARK.
INTERNAL ASSESSMENT
The minimum number of assignments:
One project/assignment as prescribed by the teacher from the syllabus.
Suggested Assignments:
- A visit to a local industrial unit and analysis of the combination of the factors of production being used in the production process.
- Survey 15 people from your neighbourhood about the type of taxes they pay. From your survey conclude which type of tax is easier to pay and why.
- Visit a nearby store. Select five items of regular consumption. Study the following: the impact of GST on these five products; how this has impacted the demand for these products; and how it has benefitted the producer, consumer and the government.
To get the complete syllabus click on the link below to download the PDF
ICSE Syllabus Class 10 Economics 2024-25 PDF
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