ICSE Economics Class 10 Syllabus
There is one paper of two hours duration carrying 80 marks and Internal Assessment of 20 marks. The paper is divided into two sections: A and B.
Section A consists of questions requiring
short answers and covers the entire syllabus. There is no choice of
questions. Section B consists of questions which require detailed answers.
There is a choice and you are required to answer four questions from this
section.
1. The Productive Mechanism
Factors of production - Land, labour, capital
and entrepreneur. their impact on the production structure in an economy.
Factors of production
1. Land: meaning and
characteristics, functions and its importance; factors affecting productivity
of land.
2. Labour: meaning and
characteristics; division of labour: meaning, types, advantages and
disadvantages; efficiency of labour; meaning, reasons for low efficiency of
Indian labour.
3. Capital: meaning, types and
characteristics; Capital Formation; meaning, factors affecting capital
formation; reasons for slow growth rate of capital formation.
4. Entrepreneur: meaning,
functions and role of entrepreneur in economic development.
2. Theory of Demand and Supply
(i) Meaning 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.
The concept of Demand, types of demand and
concept of supply are to be explained (with examples).
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. 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 percentage method. Factors
affecting the elasticity of demand and supply are to be specified. (Numericals
are not for testing).
3. Public
Finance
(i) Meaning and scope of Public Finance;
Public Revenue; Taxes, types: direct and indirect taxes with their merits and
demerits; Progressive, Proportional, Regressive and Degressive taxes (only
meaning).
Explanation of the concepts of direct and
indirect taxes along with examples. Comparison of the direct and indirect taxes
with reference to their respective merits and demerits. Only an introduction to
the concepts of progressive, proportional, regressive and degressive taxes is
to be given to the students.
(ii) Public Expenditure:
Meaning, and reasons for growth of public
expenditure in recent times.
(iii) Public Debt:
Meaning and types of public debt.
4. Money And
Banking
(i) Money: Barter system.
Evolution of Money, meaning and functions of Money; Inflationmeaning, types:
effects of inflation on the functioning of the economy (in brief).
A basic understanding of the inconvenience of
Barter system and evolution of money. Meaning and Functions of money, Meaning
of inflation and its variants - cost-push, demand-pull, creeping, walking,
running and hyperinflation are to be given (No graphs required). The impact of
inflation on various economic entities such as producers creditors, debtors,
fixed income groups are to be explained briefly.
(ii) Banking: Commercial Banks:
functions; credit creation (in brief); Nationalisation vs. Privatisation of
Banks. Central Bank: functions; Quantitative and Qualitative credit control
measures adopted by RBI.
An explanation of functions of a commercial
bank and the meaning of credit creation is needed (process not required). Types
of qualitative and quantitative controls used by the RBI as part of its credit
control measures are to be explained.
5.
Consumer Awareness:
Ways in which consumer is exploited. Reasons
for exploitation of consumers. Growth of consumer awareness - consumer rights -
Legal measures available to protect consumers from being exploited - (COPRA,
RTI).
Understanding the importance of educating
consumers of their rights - awareness of food adulteration and its harmful
effects.
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