ICSE Board Class 9 Syllabus for Economic-Applications

The ICSE Board syllabus for Class 9 Economic Applications is designed to introduce students to the basics of economics, focusing on fundamental economic concepts, the functioning of economies, and the application of economic principles in real life. The syllabus is structured to give students an understanding of how economies operate and the role of individuals, businesses, and governments in economic activities. Below is an overview of the topics typically covered in the ICSE Class 9 Economic Applications syllabus:

1. Introduction to Economics

• Definition of Economics: Understanding the nature and scope of economics as a social science.
• Basic Economic Problems:
  • What to produce?
  • How to produce?
  • For whom to produce?
• Types of Economies:
  • Market economy
  • Command economy
  • Mixed economy
• Microeconomics and Macroeconomics:
  • Difference between microeconomics (study of individual economic units) and macroeconomics (study of the economy as a whole).

2. Basic Economic Entities

• Consumers:
  • Role and functions of consumers in an economy.
  • Concept of consumer behavior and decision-making.
• Producers:
  • Role of producers in the production process.
  • Understanding the factors of production: land, labor, capital, and entrepreneurship.
• Government:
  • The role of government in economic activities.
  • Government's intervention in the economy through policies, taxation, and subsidies.

3. Demand and Supply

• Concept of Demand:
  • Definition and factors affecting demand.
  • Law of demand: relationship between price and quantity demanded.
  • Movement along the demand curve and shifts in the demand curve.
• Concept of Supply:
  • Definition and factors affecting supply.
  • Law of supply: relationship between price and quantity supplied.
  • Movement along the supply curve and shifts in the supply curve.
• Price Determination:
  • Equilibrium price: intersection of demand and supply.
  • Effects of changes in demand and supply on equilibrium price and quantity.

4. Factors of Production

• Land:
  • Characteristics of land as a factor of production.
  • Importance and role of land in production.
• Labor:
  • Definition and types of labor.
  • Division of labor and specialization.
  • Factors affecting the efficiency of labor.
• Capital:
  • Types of capital: physical capital and human capital.
  • Importance of capital in production.
  • Concept of capital formation.
• Entrepreneurship:
  • Role of entrepreneurs in the economy.
  • Functions and qualities of an entrepreneur.

5. Economic Infrastructure

• Infrastructure:
  • Importance of infrastructure in economic development.
  • Types of infrastructure: physical (roads, bridges, electricity) and social (education, healthcare).
• Role of Transport and Communication:
  • Importance of transportation and communication systems in economic growth.
  • Impact of efficient transport and communication on trade and commerce.
• Banking:
  • Role of banks in the economy.
  • Functions of commercial banks: accepting deposits, providing loans, and facilitating payments.
  • Introduction to the central bank and its role in controlling the money supply.

6. Economic Development

• Economic Growth and Development:
  • Difference between economic growth and economic development.
  • Indicators of economic development: GDP, HDI, per capita income.
• Sustainable Development:
  • Concept of sustainable development.
  • Importance of balancing economic growth with environmental protection.
• Poverty and Unemployment:
  • Causes and consequences of poverty and unemployment.
  • Government measures to reduce poverty and unemployment.

7. Globalization

• Introduction to Globalization:
  • Definition and features of globalization.
  • Impact of globalization on the Indian economy.
• International Trade:
  • Importance of international trade.
  • Difference between imports and exports.
  • Trade barriers and their impact on international trade.
• Multinational Corporations (MNCs):
  • Role of MNCs in the global economy.
  • Advantages and disadvantages of MNCs.

8. Consumer Awareness

• Consumer Rights:
  • Understanding the rights of consumers: right to safety, right to be informed, right to choose, right to be heard.
• Consumer Protection:
  • Importance of consumer protection.
  • Introduction to the Consumer Protection Act.
• Ethical Consumerism:
  • Concept of ethical consumerism.
  • Importance of making informed and ethical purchasing decisions.

9. Internal Assessment

• Project Work:
  • Conducting research or surveys on economic topics, such as consumer behavior, demand analysis, or the impact of globalization.
  • Preparing reports on selected economic issues.
• Case Studies:
  • Analysis of real-life case studies related to economic principles and concepts.
• Presentations and Debates:
  • Participating in presentations and debates on current economic issues and topics.

Download PDF of the ICSE Board Syllabus For Class 9 Economic Applications