ICSE Syllabus Economic Application A

ICSE Syllabus Economic Application 2012. Download the latest syllabus to do your studies as per the latest guidelines issued by CBSE NCERT. The syllabus, weightage of chapters, blue print of question papers and the design of question papers is issued every year for the benefit of students. Access all syllabus for all subjects here.

  Economic Application

1. To familiarize students with the basic concepts of economics and economic phenomenon.

2. To develop their analytical skills.

3. To provide students with hands-on-experience in analyzing economic problems that they normally come across.

CLASS IX

There will be one theory paper of two hours duration of 100 marks and Internal Assessment of 100 marks.

The paper will consist of Part I and Part II.

Part I (compulsory) will contain short answer questions on the entire syllabus.

Part II will consist of questions that will require detailed answers. There will be a choice of questions.

THEORY – 100 Marks

1. Basic Concepts of Economics

(i) Meaning and definition of Economics;

Economic entities: Consumer, Producer, Households and Government. The importance of these economic entities. The meaning of an economy and role of the economic entities.

A basic understanding of the concepts of economics. The definitions of economics with reference to allocation of resources and scarcity of resources (Robbins, Samuelson). Basic explanation of the role of consumer, producer, government and households in an economy.

(ii) Three major problems of an economy: What to produce? How to produce? For whom to produce? Efficient use of resources; basic understanding of the terms: economic growth and economic development

A brief introduction to the basic problems of an economy - What to produce? How to produce? For whom to produce? needs to be emphasized irrespective of the type of an economy. Manner in which economics as a subject helps us to allocate scarce resources in an efficient way needs to be explained. The concept of economic growth and economic development should be explained. 

(iii) The nature and the classification of an economy: developed, underdeveloped and developing economy; Capitalistic, Socialistic, Mixed economies- main features.

A basic understanding of the features of capitalistic, socialistic and mixed economies is required. Meaning and classification of economies into developing and developed should be explained.

2. An Overview of Indian Economy

The nature of Indian economy: the main sectors of Indian economy - Agriculture, Industry and Services. Role of these sectors in Indian economy and their interrelationship. The sectors according to ownership- private and public; the sectors according to type of economy- rural and urban.

Role of agriculture in India and its problems.

Role of Industries in the Indian Economy. Importance of Service Sector – National Income, Employment and Regional Development (in brief, no statistical data required). Interdependence of all three sectors (Primary, Secondary and Tertiary).

Meaning of Private and Public sector with examples. Meaning of Rural and Urban sector with examples.

3. Infrastructure of the Indian Economy

Economic and social infrastructure of Indian economy. Social infrastructure- education, health, family welfare and housing.

A basic understanding of the economic and social infrastructure and its role in India’s economic development. The problems pertaining to lack of such infrastructure and their adverse impact on the economy to be discussed.

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