ICSE Class 10 Economics Syllabus 2024: Check Marking Scheme and Chapter-Wise Topics

Sushmita Sundas

Updated on - Nov 14, 2023

The ICSE class 10 Economics syllabus will give a good understanding of the topics, paper pattern, and assessment topics for the upcoming board exam. Students must thoroughly use the updated Economics syllabus as it equips students to make better decisions and understand complex markets.

The ICSE class 10 Economics 2024 syllabus consists of 6 chapters: the theory paper contains 80 marks, and the internal assessment includes 20. Moreover, it also helps the students to understand the various aspects of the subject.

Table of Contents

ICSE Class 10 Economics Syllabus: PDF Download
ICSE Class 10 Economics 2024 Syllabus: Chapter-Wise Details
ICSE Class 10 Economics Syllabus 2024: Marking Scheme
ICSE Class 10 Economics Internal Assessment Syllabus
ICSE Class 10 Economics Syllabus: Evaluation Process

ICSE Class 10 Economics Syllabus: PDF Download

The board has released the ICSE class 10 Economics syllabus 2024 on the official website. Students can also refer to the link mentioned below to download the updated syllabus in PDF format.

ICSE Class 10 Economics Syllabus 2024

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ICSE Class 10 Economics 2024 Syllabus: Chapter-Wise Details

The ICSE class 10 Economics paper will be conducted for 2 hours in pen and paper mode. The class 10 Economics syllabus influences daily life and plays a significant role in the functioning of society. Therefore, students must adequately study this subject to ace the upcoming board exams.

ICSE Class 10 2024 Economics Syllabus: Chapter 1 The Productive Mechanism

Refer to the table mentioned below to understand the ICSE class 10 Economics syllabus for chapter 1.

ICSE Class 10 Chapter 1 The Productive Mechanism
Topics	Sub-Topics
Land	Meaning and characteristics Productivity of land – meaning only Factors affecting productivity of land
Labour	Meaning and characteristics Division of labour: meaning, type and advantages Efficiency of labour: meaning Reasons for low efficiency of Indian labour
Capital	Meaning and characteristics and types Physical and financial capital- meaning with examples Capital Formation; meaning Process of capital formation Need for capital formation
Entrepreneur	Meaning Functions and role of entrepreneur in economic development

ICSE Class 10 Economics Syllabus: Chapter 2 Theory of Demand and Supply

The chapter 2 ICSE class 10 Economics 2024 syllabus is mentioned below for the student's reference.

ICSE Class 10 Chapter 2 Theory of Demand and Supply
Topics	Sub-Topics
Meaning and concept of Demand and Supply	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.
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

ICSE Class 10 Economics Syllabus 2024: Chapter 3 Market

The ICSE class 10 Economics syllabus for chapter 3 is tabulated below for the student's reference.

ICSE Class 10 Chapter 3 Market
Topics	Sub-Topics
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

ICSE Class 10 Economics Syllabus: Chapter 4 Banking in India

Refer to the table mentioned below to understand chapter 4 of the ICSE class 10 Economics syllabus.

ICSE Class 10 Chapter 4 Banking in India
Topics	Sub-Topics
Money	A basic understanding of the inconvenience of the barter system and the evolution of money Legal definition of money f Functions of money: medium of exchange, measure of value Standard of deferred payment, store of value
Commercial Banks	Meaning Functions of Commercial banks: Accepting 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)
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
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.
Demonetisation	A brief understanding
Public Finance	Meaning of Public Finance Sources of Public Revenue: Tax Revenue. Direct Tax, Goods and Services Tax (GST), Non-tax revenue Public Expenditure. Meaning of public expenditure, Revenue and Capital expenditure with examples; reason for growth of public expenditure in India. Public Debt. Meaning and types of Public debts.

ICSE Class 10 2024 Economics Syllabus: Chapter 5 Inflation

Tabulated below is the ICSE class 10 Economics syllabus chapter 5 for student's reference.

ICSE Class 10 Chapter 5 Inflation
Topics	Sub-Topics
Inflation, Wholesale Price Index (WPI), Consumer Price Index (CPI), Food Basket	Meanings: Inflation, Wholesale Price Index (WPI), Consumer Price Index (CPI), Food Basket
Stages of Inflation	Meanings: Creeping, Walking, Running and Hyper
Types of Inflation	Cost push inflation and demand- pull inflation

ICSE Class 10 Economics Syllabus 2024: Chapter 6 Consumer Awareness

Chapter 6 of the ICSE class 10 Economics syllabus is given below for the student's reference.

ICSE Class 10 Chapter 6 Consumer Awareness
Topics	Sub-Topics
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
Consumer Rights & Duties	A brief understanding of the above COPRA - meaning and features RTI - meaning and significance
Food Adulteration	Meaning and harmful effects
Technical and Administrative measures for Consumer Protection	A brief understanding of: Public Distribution System (PDS) Bureau of Indian Standards (BIS); AGMARK, ECOMARK.

ICSE Class 10 Economics Syllabus 2024: Marking Scheme

Students must also consider the subject-wise marking scheme while preparing for the ICSE class 10 board exams 2024. It will help them to focus on the chapter, which carries more weight. Moreover, provided below are the detailed question paper

ICSE Class 10 Economics Marking Scheme
Marks	Details	Number of Questions
80 marks	Section 1: Short questions	Multiple
80 marks	Section 2: Long answer questions	6 Questions
20 Marks	Practical Assessment

Read More: ICSE Class 10 Passing Marks

ICSE Class 10 Economics Internal Assessment Syllabus

The board will conduct an Internal assessment for 20 marks in their respective schools. Students must complete one project or assessment as instructed by their teacher. Some of the suggested internal evaluation includes:

A visit to a local industrial unit and analysis of the combination of the factors of production being used in the production process.
Surveying 15 people from the neighbourhood about the type of taxes they pay. From the survey, students must conclude which type of tax is more accessible to pay and why.
To 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, and how it has benefitted the producer, consumer and the government.

ICSE Class 10 Economics Syllabus: Evaluation Process

The external examiner evaluates the projects or the assessment. The school authorities appoint these external examiners. Moreover, the Internal Examiner and the External Examiner will assess the assignments independently. Refer to the table mentioned below to understand the evaluation process of the ICSE class 10 Economics syllabus.