ICSE Class 10 Economic Applications Syllabus for Semester (1 & 2) 2024-25

Economics application syllabus Class ICSE provides students with concepts so that students will be able to understand the subject. A lot of the time students find themselves in situations where they have to try and figure out the subject by themselves and try to self-study, so to help aid them with that they can use this application syllabus. Using this student will be able to relate the concepts that they study with how the real world functions, this will help them understand how different phenomenon takes place as an economic crisis, inflation, hyperinflation or how foreign direct investments help aid a country, these are just a few of the things to students will be able to have a basic understanding about. Students will also gain a whole of analytical skills which they will soon have to relate with the theoretical concepts in future Classes.

Students need to know of all the various aspects the subject includes such as the different concepts and topics in the subject. Here let us take a look at the syllabus of Class 10 Economic Applications to give students a better perspective so they know what they have to prepare for. So according to the ICSE board, there are 5 modules which have been listed below as follows:

Syllabus for ICSE Class 10 Economic Applications Semester (1 & 2) 2024-25 

Benefits of Class 10 Economic Applications Syllabus

The Class 10 Economic Applications has a whole host of benefits which provides students with the right amount of study material from Vedantu's notes. Students can use these notes to their benefit in several ways and these are as follows:

• The syllabus is updated following ICSE announcements for the year 2024-25. The syllabus is thus set according to the new regulations and guidelines set by the board.

• Students who use this syllabus will be the most benefited as they will have a more sound studying process which will enable them to be a step ahead of their peers.

• It is important that we study the application syllabus for economics because this will guide students through the entire subject and students will become more familiar with the various concepts in place.

• The syllabus for Economic Application streamlines the content of the subject, which includes enough information for you to find academic success. 

• When you study a subject by following the syllabus, you will never miss or overlook a concept. This way, you can cover the whole curriculum and know all the concepts like the back of your hand. 

• If you have a clear understanding of the sections mentioned in the syllabus, it will be much easier for you to ace your ICSE Economic Applications exam. 

What are the Important Topics of ICSE Class 10 Economic Applications? 

The Syllabus of ICSE Class 10 Economic Application comprises the five units that take you through crucial concepts such as Inflation, Economic Crisis, etc. Following are the important topics that you must learn before going for the Economic Applications exam: 

1. Unit 1: Demand and Supply - Basic Concepts 

• Meaning of Demand and Supply 

• Law of Demand and Supply  

• The elasticity of Demand and Supply 

2. Unit 2: Factors Affecting Production - Basic Concepts 

• Factors of Production 

• Division of labour

• Capital Formation 

3. Unit 3: Alternative Market Structures - Basic Concepts 

• Nature of markets 

• Structure of market 

• Product Differentiation 

• Monopsony Market

4. Unit 4: State and Economic Development 

• Roles of state in promoting the development 

• Fiscal and Monetary Policy

• Public Sector Enterprises 

• Direct and Indirect Taxes 

• Privatisation  

5. Unit 5: Money and Banking - Basic Concepts 

• Functions of Money

• Inflation 

• Credit Control 

• Functions of Commercial Banks 

Why should You follow the ICSE Class 10 Economic Applications Syllabus?

The syllabus of Class 10 Economic Applications consists of the different units you will study during the year. Here are a few reasons why you should follow this syllabus: 

• With hundreds of reference books, you might get confused as to which concepts you have to learn. The syllabus of Economic Applications will make it clearer and take you in the right direction of the learning process. 

• The syllabus helps you build an organized and effective study plan that helps you ace your ICSE exam.

• The syllabus makes your learning easy by giving you a summary of the course. This way, you will be able to cover every topic and subtopic that is important to the subject. 

• The ICSE Economic Applications Syllabus contains a semester-wise list of units. It helps you avoid confusion as to which chapters you should study in your current semester. 

How to score Well in Your ICSE Class 10 Economic Applications Exam?

Scoring big in the ICSE Class 10 Economic Applications Exam is not difficult if your concepts are clear. You will need an efficient study plan from the beginning to score good marks in this subject. Some of the concepts of economic Applications include diagrams and tables. You must have a clear and firm understanding of these structures, as they play a pivotal role in the exams. Prepare yourself for the exam with sample papers, past year papers, and other study material to secure a high score. While writing answers, make sure your presentation of the answer is neat and clean. Moreover, only write to-the-point answers that remain relevant to the question and do not go out of context. An effective strategy in the Economic Applications exam is to solve the questions that you know the answer to and start from the long answer type questions.