ICSE Class 10 Economics Syllabus

ICSE Class 10 Economics Syllabus is available here for students. They can go through the ICSE Class 10 Economics syllabus right at the beginning of the academic session and plan their studies accordingly. Referring to the syllabus will give a good understanding of the topics, paper pattern and assessment topics. Also, the 10th ICSE economics syllabus will work as a study guide while preparing for the Economics exam. Students can download the ICSE Class 10 Syllabus for Economics in pdf format 2022-23 from the link below.

ICSE Class 10 Economics Syllabus PDF for the Year 2023 – Download Revised PDF

We have provided the exam pattern of Economics subject. Knowing the paper pattern will provide a comprehensive understanding of the subject and help students in preparing well for the board exam.

ICSE Class 10 Economics Paper Pattern 2022-2023

ICSE Class 10 students will have one paper of Economics subject of 2 hours of duration.

  1. Theory Paper – 80 Marks
  2. Internal Assessment – 20 Marks

The theory paper will be divided into two sections A and B, as shown in the table below.

Paper Topics
Section A Consist of questions requiring short answers and will cover the entire syllabus. There will be no choice of questions.
Section B Consist of questions which will require detailed answers. There will be a choice and candidates will be required to answer four questions from this section.

Revised ICSE Class 10 Economics Syllabus for the Year 2023

1. 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, productivity of land – meaning only; factors affecting productivity of land.

(ii) Labour: meaning and characteristics; division of labour: meaning, type (product, process and geographical based division of labour) and advantages; efficiency of labour; meaning, reasons for low efficiency of Indian labour.

(iii) Capital: meaning and characteristics

Types of capital: physical and financial capital- meaning with examples.

Capital Formation; meaning, Process of capital formation; Need for capital formation;

(iv) Entrepreneur: meaning, functions, qualities of an entrepreneur and role of entrepreneur in economic development.

2. 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 (extension and contraction) and shift (increase and decrease) of the demand and supply curve; determinants of demand and supply.

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. 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. (Numerical problems are not for testing).

3. 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.

4. 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, 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

  • Qualitative Credit control measures: margin requirements; credit rationing; moral suasion.
  • 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 growth of public expenditure in India.

(d) Public Debt
Meaning of public debt and types of public debts (Internal, External, Productive, Unproductive, Funded, Unfunded, Redeemable, Irredeemable, Voluntary, Compulsory, Gross and Net debts).

5. Inflation

Inflation; Stages of Inflation; Types of Inflation:

Meaning of inflation; Stages of inflation – Creeping, Walking, Running and Hyper (meaning and differences only).

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 farmers only.

6. 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:

Technical measures for Consumer Protection Bureau of Indian Standards (BIS); AGMARK, ECOMARK.

Administrative measures for Consumer Protection A brief understanding of: Public Distribution System (PDS).

ICSE Class 10 Economics Internal Assessment

The minimum number of assignments:

One project/assignment as prescribed by the teacher from the syllabus.

Suggested Assignments:

  1. A visit to a local industrial unit and analyse the combination of the factors of production being used in the production process.
  2. 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.
  3. 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; how it has benefitted the producer, consumer and the government.

We have also compiled the syllabus of all subjects at a single place. Students can access them easily by visiting the ICSE Class 10 Syllabus page. Download the BYJU’S App and fall in love with learning.

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