ICSE Class 10 Economics Syllabus

ICSE Class 10 Economics Syllabus For Academic Session 2025-2026

The ICSE Class 10 Economics syllabus aims to provide students with a foundational understanding of economic concepts, principles, and their applications in real-world scenarios. The syllabus covers various aspects of economics, including basic economic theories, the Indian economy, and economic challenges. Here's a detailed breakdown of the ICSE Class 10 Economics syllabus:

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ICSE Class 10 Economics Syllabus

1. Introduction to Economics

• Definition and Importance of Economics:
  • Understanding the basic definition of economics.
  • Importance and scope of economics in daily life and national development.
• Basic Concepts:
  • Goods and Services: Definition, types (consumer and capital goods), examples.
  • Wealth: Definition, characteristics, and types.
  • Welfare: Understanding economic welfare.
  • Utility: Concept of utility, types (total and marginal utility), and law of diminishing marginal utility.

2. Basic Economic Entities in an Economy

• Household Sector:
  • Role of households in an economy as consumers and resource suppliers.
  • Concept of savings, consumption, and investment by households.
• Producer Sector:
  • Role of producers in an economy, production activities, and resource allocation.
  • Concepts of production, costs, and revenues.
• Government Sector:
  • Role of the government in an economy: Providing public goods and services, regulation, and redistribution of income.
  • Understanding of taxes, subsidies, and government expenditure.
• External Sector:
  • Role of the external sector in an economy: Imports, exports, and balance of trade.

3. Types of Economies

• Capitalist Economy:
  • Characteristics, advantages, and disadvantages of a capitalist economy.
• Socialist Economy:
  • Characteristics, advantages, and disadvantages of a socialist economy.
• Mixed Economy:
  • Characteristics, advantages, and disadvantages of a mixed economy.
• Comparison of the Three Types of Economies:
  • Understanding the differences and similarities between capitalist, socialist, and mixed economies.

4. Main Sectors of the Indian Economy

• Agricultural Sector:
  • Importance of agriculture in the Indian economy, contribution to GDP, employment.
  • Issues in the agricultural sector: Low productivity, dependence on monsoons, fragmentation of land, lack of infrastructure.
  • Government measures to improve agriculture: Green Revolution, agricultural policies, minimum support prices.
• Industrial Sector:
  • Importance of the industrial sector, contribution to GDP, employment generation.
  • Classification of industries: Small-scale and large-scale industries, agro-based and mineral-based industries.
  • Problems faced by the industrial sector: Inadequate infrastructure, lack of skilled labor, pollution.
  • Government initiatives for industrial development: Make in India, industrial policies, special economic zones.
• Tertiary Sector:
  • Importance of the services sector, contribution to GDP, and employment.
  • Types of services: Banking, insurance, trade, transport, communication, information technology.
  • Growth of the service sector in India and its role in economic development.

5. Factors of Production

• Land:
  • Meaning, characteristics, and importance of land as a factor of production.
  • Factors affecting the productivity of land, land utilization, and land reforms.
• Labour:
  • Meaning, characteristics, and importance of labor as a factor of production.
  • Types of labor: Skilled, unskilled, semi-skilled.
  • Factors affecting labor productivity: Education, training, working conditions.
• Capital:
  • Meaning, types (fixed capital, working capital), and importance of capital as a factor of production.
  • Capital formation and its importance in economic development.
• Entrepreneurship:
  • Meaning and importance of entrepreneurship in an economy.
  • Role of entrepreneurs in innovation, risk-taking, and business development.

6. Economic Problems in India

• Poverty:
  • Definition and measurement of poverty.
  • Causes of poverty in India: Unemployment, population growth, economic disparity.
  • Government measures to reduce poverty: Poverty alleviation programs, employment generation schemes.
• Unemployment:
  • Definition, types (seasonal, cyclical, structural, frictional), and causes of unemployment in India.
  • Impact of unemployment on the economy and society.
  • Government initiatives to reduce unemployment: Skill development programs, employment schemes.
• Population:
  • Growth rate of population in India, causes, and consequences of overpopulation.
  • Impact of population growth on economic development, resources, and employment.
  • Measures to control population growth: Family planning, awareness campaigns.
• Inflation:
  • Definition and types of inflation (demand-pull, cost-push).
  • Causes and effects of inflation on the economy and individuals.
  • Measures to control inflation: Monetary policy, fiscal policy.

7. Developmental Issues in the Indian Economy

• Human Resource Development:
  • Importance of education and health in economic development.
  • Government initiatives in education and healthcare: Sarva Shiksha Abhiyan, National Health Mission.
• Environmental Degradation:
  • Causes of environmental degradation: Deforestation, pollution, over-exploitation of resources.
  • Impact of environmental degradation on the economy and society.
  • Measures to protect the environment: Sustainable development, environmental laws, conservation efforts.
• Globalization:
  • Meaning and impact of globalization on the Indian economy.
  • Advantages and disadvantages of globalization.
  • Role of international organizations (WTO, IMF, World Bank) in globalization.
• Sustainable Development:
  • Definition and importance of sustainable development.
  • Role of government, individuals, and organizations in promoting sustainable development.