ICSE Class 10 Economic Applications Syllabus 2022-23

CISCE has released the Latest Updated Syllabus of the New Academic Session 2022-23, for class 10.

Class 10th Syllabus has been revised and changed many times during the Covid situation but finally it released. It’s very important for both Teachers and Students to understand the changes and strictly follow the topics covered in each subject for Class 10th.

We have also updated Oswal Gurukul Books as per the Latest Paper Pattern prescribed by CISCE Board for each Subject Curriculum.

Students can directly access the ICSE Economic Applications Syllabus for Class 10 of the academic year 2022- 23 by clicking on the link below.

PDF download links to the latest reduced Class 10 Economic Applications Syllabus for 2022-23 academic session

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ICSE Economic Applications Class 10 Reduced Syllabus 2022-23

S.No. Unit Topics Sub -Topics Marks
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. The concept of price elasticity of demand and supply are to be explained with percentage method. (Simple numerical problems should be taught). The factors affecting the elasticity of demand are to be specified
2 Factors of Production: Basic Concepts
Factors of production- Land, Labour, Capital and Entrepreneur. Land- meaning and characteristics, 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-Simple & Complex, Horizontal & Vertical, advantages and disadvantages. Efficiency of labour - meaning, reasons for low efficiency of Indian labour.
Capital - meaning, types - Fixed and Circulating; Sunk and floating; Real, Money and Debt; 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 instruments of State intervention- fiscal policy and monetary policy; The Public sector enterprises - Types of Public Sector their role and problems; Difference between Public and Private Sector, the issue of privatization of public enterprises. 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 – types, Its role and problems. Private Sector definition and examples. Difference between Public and Private Sector, 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 (elaborate explanation of primary and secondary functions and a brief explanation of Contingent functions).
Meaning and types of inflation to be discussed (Creeping, Walking, Running and Hyperinflation). The impact of inflation on various economic entities such as debtors and creditors, fixed income groups and producers are to be explained very briefly.
Definition of Commercial and Central Banks and differences between the two; 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:
1.Factors of Production
3. Inflation
Internal Assessment Candidates will be required to do a minimum of four assignments during the year, as assigned by the teacher Suggested list of assignments
1. Take a fast moving consumer good (FMCG) like washing machine detergent. Analyze the factors that determine the demand of this product. Present your findings in form of a class presentation. 100
2. Develop a hypothetical table of information for coffee that shows quantity demanded at various prices and supply of coffee at these prices. Draw a demand curve and supply curve and show an equilibrium price at which market is cleared of its supplies
3. Make a list of products for which you think demand is price inelastic and price elastic. Specify the reasons you may think relevant for your analysis.
4. Take a case of public enterprise which is about to be privatized or has been recently privatized. Analyze the pros and cons of such an exercise undertaken by the government. (The case of VSNL or BALCO can be taken up).
5. Take a case of a nationalized bank – visit any one of its branches in your city. Analyze the main functions of this bank’s branch. Make a presentation to this effect.
6. Recently rates of interests have been reduced on all the saving instruments. Carry out a survey of 30 people in your area as to what is their reaction to this cut. The sample may consist of salaried people, business people and professionals.
7. Take a case of five FMCGs – fast moving consumer goods - bathing soaps, toothpastes, facial creams, shampoos, ball pens. Analyze as to how the market for these products is characterized by product differentiation.
8. Take the case of a company and analyze the production process in which all the factors that you studied in your class, are used by the company to produce a product.
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