Economics Class 10 ICSE CISCE Topics and Syllabus

• Concept for Demand and Supply 
• Concept for 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

• Introduction of Inflation 
  • Meaning of Inflation
  • Features of Inflation 
• Effects of Inflation 
  • Positive and negative effects of inflation on production.
  • Positive and negative effects of inflation on distribution with reference to fixed income group and business income group only.

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.

• Elasticity of Demand and Elasticity of Supply 

  meaning, types, percentage method of measuring the elasticity of demand and elasticity of supply, factors affecting the elasticity of demand and supply.

• Elasticity of Demand 

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).

• Concept for Barter System 
• Evolution of Money 
  • Barter system
  • Major stages of Evolution of Money
  • Commodity Money
  • Metallic Money
  • Paper Money
  • Credit Money or Bank Money
  • Near Money
  • Recent forms of Money

  • Plastic Money
  • E-Money
  • Online Banking (Net Banking)
  • E-Banking
• Meaning and Functions of Money 
  • Legal definition of money
  • Function of Money

  1. Medium of exchange
  2. Measure of value
  3. Standard of deferred payment
  4. Store of value
• Function of Money - Secondary Functions 

Barter system. Evolution of Money, meaning  and  functions of Money; Inflation- meaning, 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.

• Commercial Banks: Functions 
  • Meaning of Commercial Bank
  • Functions of Commercial banks

  1. Accepting deposits (a brief understanding of the types of deposits);
  2. Advancing loans (a brief understanding of the types of loans, methods of advancing loans);
  3. Credit creation (a brief understanding of credit creation on the basis of Primary and derivative deposits).
• Nationalisation Vs. Privatisation of Banks 
• Quantitative and Qualitative Credit Control Measures Adopted by RBI 
• Concept of Credit Creation 

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.

• Central Bank: Functions 
  • Meaning of Central Bank
  • Functions of Central Bank (A brief understanding of the functions)

  1. Monopoly of Note issue
  2. Bankers Bank
  3. Banker
  4. Agent and Advisor to the Government
  5. Custodian of Foreign Exchange
  6. Lender of the Last Resort

  • Difference between the Central Bank and Commercial Banks
• Quantitative and Qualitative Credit Control Measures Adopted by RBI 
• Central Bank Function - Banker's Bank 
• Central Bank Function - Goverment Bank 

• Demonetisation 

• Meaning and Scope of Public Finance 
• Concept of Public Revenue 
  • Sources of Public Revenue:

  1. 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
  2. Non-tax revenue: Meaning with examples
• Concept for Taxes and Types 

  Taxes types: direct and indirect taxes

• Merits and Demerits of Taxes 
• Progressive Tax 
• Concept for Proportional Tax 
• Concept for Regressive Tax 
• Concept for Degressive Tax 
• Concept for Public Expenditure 
  • Meaning of public expenditure
  • Revenue and Capital expenditure with examples
  • Reason for the growth of public expenditure in India
• Concept for Public Debt 
  • Meaning and types of Public debts