ECONOMIC APPLICATIONS (87)

Candidates offering Economics (Group II) are not eligible to offer Economic Applications (Group III).

Aims: 3. To provide students with hands-on-experience in

analyzing economic problems that they normally
1. To familiarize students with the basic concepts
come across.
of economics and economic phenomenon.
2. To develop their analytical skills.
CLASS IX

There will be one theory paper of two hours duration A basic understanding of the features of
of 100 marks and Internal Assessment of 100 marks. capitalistic, socialistic and mixed economies
THEORY – 100 Marks is required. Meaning and classification of
economies into developing and developed
1. Basic Concepts of Economics should be explained.

(i) Meaning and definition of Economics; 2. An Overview of Indian Economy

Economic entities: Consumer, Producer, The nature of Indian economy: the main sectors of
Households and Government. The importance Indian economy - Agriculture, Industry and
of these economic entities. The meaning of an Services. Role of these sectors in Indian economy
economy and role of the economic entities. and their interrelationship. The sectors according
A basic understanding of the concepts of to ownership- private and public; the sectors
economics. The definitions of economics with according to type of economy- rural and urban.
reference to allocation of resources and Role of agriculture in India and its problems.
scarcity of resources (Robbins, Samuelson).
Impact of Agricultural practices on the
Basic explanation of the role of consumer,
Ecosystem.
producer, government and households in an
economy. Construction of dams- loss of habitat species.
(ii) Three major problems of an economy: What Loss of top soil and desertification.
to produce? How to produce? For whom to Indiscriminate use of fertilizers and pesticides.
produce? Efficient use of resources; basic Measures to check the ecosystem;
understanding of the terms: economic growth
and economic development Governmental initiatives: not building large dams
for generating hydroelectric power which leads to
A brief introduction to the basic problems of less land being submerged and less displacement
an economy - What to produce? How to of people.
produce? For whom to produce? Needs to be
Alternative cropping for checking loss of topsoil
emphasized irrespective of the type of an and desertification. Plantation and conservation
economy. Manner in which economics as a of grasslands to check soil erosion. Use of
subject helps us to allocate scarce resources manure, bio-fertilizers and bio-pesticides green
in an efficient way needs to be explained. The manuring, compost. These are eco-friendly
concept of economic growth and economic alternatives to pesticides and fertilizers.
development should be explained.
Role of Industries in the Indian Economy.
(iii) The nature and the classification of an
economy: developed, underdeveloped and Impact of industrial practices on the ecosystem.
developing economy; Capitalistic, Socialistic, Mining, industries, energy generation,
Mixed economies- main features. automobiles, urbanisation leading to defacement
of land, deforestation, deterioration of
hydrological resources.

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 Industrial waste: mining operations, cement 5. Globalization
factories, oil refineries, construction unit.
Meaning and factors enabling Globalization, WTO,
Spoilage of landscape, pollution, health hazards, impact of Globalization.
effect on terrestrial, aquatic (fresh water and
marine) life. Meaning of globalization. Factors enabling
globalization – technology and liberalization
Measures to check the ecosystem. (removal of trade barriers).
Improving efficiency of existing technologies and WTO (main objectives), favourable impacts of the
introducing new eco-friendly technologies. globalization – starting of MNC’s and benefits to
Methods of safe disposal of waste - segregation, Indian companies.
dumping, composting, drainage, treatment of
effluents before discharge. NOTE: It is suggested that case studies may be
discussed on the following topics:
Abatement of pollution. • Globalization
Air: setting standards and implementing them, • Consumer Awareness
using technical devices to reduce pollution. • Bhopal Gas Tragedy
Importance of Service Sector – National Income, • Chernobyl Disaster
Employment and Regional Development (in brief,
no statistical data required). Interdependence of INTERNAL ASSESSMENT – 100 Marks
all three sectors (Primary, Secondary and Candidates will be required to do a minimum of four
Tertiary). assignments during the year, as assigned by the
Meaning of Private and Public sector with teacher.
examples. Meaning of Rural and Urban sector
with examples. Suggested list of assignments:
1. Identify 100 consumers of major brands of edible
3. Infrastructure of the Indian Economy oils in a locality/ area where you live. Draw up the
Economic and social infrastructure of Indian pattern of their monthly expenditure on this
economy. Social infrastructure- education, health, product and compare it with the other household
family welfare and housing. expenditure. Make a presentation of your findings
A basic understanding of the economic and social in class.
infrastructure and its role in India’s economic 2. Identify the major brands of bathing soaps that are
development. The problems pertaining to lack of available in the market in your area. Select a
such infrastructure and their adverse impact on sample of 10 shops/ department stores that sell
the economy to be discussed. these brands and collect the sales of these brands
over a period of one week at these shops. Identify
4. Consumer Awareness the brands that sell the most and make a
Ways in which consumer is exploited. Reasons for presentation for your class.
exploitation of consumers; Growth of consumer 3. Make a presentation on the central problems an
awareness; consumer behaviour in the market;
economy faces. Explain these with reference to the
consumer rights. Legal measures available to
protect consumers from being exploited – Indian economy.
(COPRA, RTI). 4. Take a developed country such as the USA and a
developing country such as India. Analyze the
Understanding the importance of educating
main characteristics of these economies.
consumers of their rights - awareness of food
adulteration and its harmful effects. 5. Outline the main modes of transport in the
district/city you live. What problems do you and
other citizens face pertaining to the availability of
public transport? Analyse.

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6. Take a table of food grain production in India from 8. Make a presentation of the major trading partners
any textbook on Indian economy or any other of India in the last 15 years. Specify the major
secondary source such as internet. Interpret the changes that have taken place in the last five years.
changes in the production over a given period of 9. What are the major items of export and imports
time. from India in the last five years? Use secondary
7. Given a table of population growth for period data sources and make out the changes that have
between 1971 and 2001 and table of contribution taken place in this context.
of agriculture, industry and services sector for the
same period, compare the two tables and present
your findings in the form of a presentation.

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 CLASS X

There will be one theory paper of two hours duration Labour- meaning and characteristics. Division of
of 100 marks and Internal Assessment of 100 marks. labour - meaning, types, advantages and
THEORY – 100 Marks disadvantages. Efficiency of labour - meaning,
reasons for low efficiency of Indian labour.
1. Demand and Supply: Basic Concepts
Capital - meaning, types and characteristics.
Demand - Meaning and Types of Demand Capital formation - meaning, factors affecting
Supply - Meaning
capital formation.
Law of demand and supply: demand and supply
schedule and curve (both individual and market); Entrepreneur - meaning, functions and role of
movement and shift of the demand and supply entrepreneurs in economic development.
curve; determinants of demand and supply;
exceptions to the law of demand. 3. Alternative Market Structures: Basic Concepts
Meaning of Demand and Supply. Types of Nature and structure of markets- Perfectly
Demand (Joint Demand, Derived Demand and competitive market, Monopoly market,
Composite Demand).
monopolistically competitive market, concept of
A basic understanding of the law of demand and product differentiation, Monopsony market.
supply in which demand and supply schedules are
to be used to explain the demand and supply The main features of the following market
curves. The individual demand and supply curves structures are to be discussed in the context of
must be distinguished from market demand and present business scenario –
supply curves. Determinants of demand and
Perfectly competitive market, Monopoly market,
supply are to be specified. Exceptions to the law of
demand are to be discussed. monopolistically competitive market,

Elasticity of demand and elasticity of supply Monopsony market (meaning to be highlighted).

Meaning, types; percentage, method of measuring
elasticity of demand and elasticity of supply, 4. The State and Economic Development
Factors affecting elasticity of demand and The role of State in promoting development; the
elasticity of supply.
instruments of State intervention- fiscal policy and
The concept of price elasticity of demand and monetary policy; The Public sector enterprises -
supply are to be explained with percentage their role and problems; the issue of privatization
method. The factors affecting the elasticity of
of public enterprises.
demand and supply are to be specified. (Simple
numericals should be taught) A basic understanding of the role of the State in
the economy needs to be highlighted in the context
2. Factors of Production: Basic Concepts of Indian economy. The meaning of fiscal policy.
Factors of production- Land, Labour, Capital and Direct and Indirect Taxes (meaning, merits and
Entrepreneur. demerits), Types of Taxes (progressive,
Land- meaning and characteristics, functions and regressive, proportional and degressive- meaning
its importance, factors affecting productivity of with examples). Monetary Policy – meaning only.
land. Public sector - its role and problems. Reasons for
Destruction of ecosystem due to changing patterns Privatization.
of land use, migration, industrialization, shifting 5. Money and Banking: Basic Concepts
cultivation, dwelling units, mining, urbanization,
construction of dams, etc. Money: meaning, functions of Money; Inflation -
meaning, effects of inflation on the functioning of
the economy (in brief). Banking: Commercial

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 Banks - functions; Central Bank - functions; Analyze the pros and cons of such an exercise
quantitative and qualitative credit control undertaken by the government. (The case of
measures adopted by RBI. VSNL or BALCO can be taken up).
A basic understanding of the concepts of money, 5. Take a case of a nationalized bank – visit any one
its functions. Meaning and types of inflation to be of its branches in your city. Analyze the main
discussed (Creeping, Walking, Running and functions of this bank’s branch. Make a
Hyper-inflation). The impact of inflation on presentation to this effect.
various economic entities such as debtors and 6. Recently rates of interests have been reduced on
creditors, fixed income groups and producers are all the saving instruments. Carry out a survey of
to be explained very briefly. Functions of 30 people in your area as to what is their reaction
commercial banks and functions of RBI - to this cut. The sample may consist of salaried
qualitative and quantitative controls used by the people, business people and professionals.
RBI as part of its credit control measures should
be explained. 7. Take a case of five FMCGs – fast moving
consumer goods - bathing soaps, toothpastes,
NOTE: It is suggested that case studies may be facial creams, shampoos, ball pens. Analyze as to
discussed on the following topics: how the market for these products is characterized
by product differentiation.
• Factors of Production
• Banking 8. Take the case of a company and analyze the
• Inflation production process in which all the factors that
you studied in your class, are used by the company
INTERNAL ASSESSMENT – 100 Marks to produce a product.
Candidates will be required to do a minimum of four EVALUATION
assignments during the year, as assigned by the
The project work is to be evaluated by the subject
teacher.
teacher and by an External Examiner. The External
Suggested list of assignments: Examiner shall be nominated by the Head of the
1. Take a fast moving consumer good (FMCG) like school and may be a teacher from the faculty, but not
washing machine detergent. Analyze the factors teaching the subject in the relevant section/class.
that determine the demand of this product. Present For example, a teacher of Economics of Class XI may
your findings in form of a class presentation. be deputed to be the External Examiner for Class X
2. Develop a hypothetical table of information for Economic Applications project work.
coffee that shows quantity demanded at various The Internal Examiner and the External Examiner
prices and supply of coffee at these prices. Draw a will assess the candidate’s work independently.
demand curve and supply curve and show an
equilibrium price at which market is cleared of its Award of marks (100 marks)
supplies. Subject Teacher (Internal Examiner) 50 marks
External Examiner 50 marks
3. Make a list of products for which you think
demand is price inelastic and price elastic. Specify The total marks obtained out of 100 are to be sent to
the reasons you may think relevant for your CISCE by the Head of the School. The Head of the
analysis. school will be responsible for the online entry of marks
on CISCE’s CAREERS portal by the due date.
4. Take a case of public enterprise which is about to
be privatized or has been recently privatized.

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 INTERNAL ASSESSMENT IN ECONOMIC APPLICATIONS - PROPOSED GUIDELINES FOR MARKING WITH GRADES

Criteria Preparation Procedure Observation Inference Presentation Marks

Grade I Excellent choice of Originality and Systematic record of data; Information fitted Methodical, precise and 4 marks
firm, appropriate to relevance; creative, good arrangement of correctly to model; work clear expression; neat for each
project; clear rational and structured data; independent market indicates understanding, and tidy presentation; criterion
identification of aspect thinking; effective survey; creative good comprehension of optimum utilisation of
to study; good research. model; good representation. subject. skills.
questionnaire.
Grade II Relevant choice of firm; Originality and Able to record data, but Can judge and grasp Work neat and tidy and 3 marks
identified aspect to structured thinking; not step-by-step; able to information correctly; clearly presented; for each
study; adequate adequate framing of grasp information; conclusion quantitatively methodical and criterion
research. questions; good insight. independent market evaluated. appropriate techniques
survey. used.

Grade III Adequate choice of Records information Assistance required in Requires some assistance Reasonably clear but 2 marks
firm; some idea of what correctly but lacks presenting, recording and to relate data to model; work disorganised in for each
to study; some originality; independent arranging data; can able to relate to economic places; writing untidy criterion
information gathered. framing of questions. conduct market survey. scenario. in places.

Grade IV Firm selected but Unable to form a correct Tends to make mistakes Assistance required in Sequence of work 1 mark for
continuous assistance model; requires in organising data; some order to grasp the relevant acceptable but not very each
required for collection assistance to prepare ability to conduct market and validity of neat; poor presentation. criterion
of information. questionnaire. survey. information; tends to
make errors.

Grade V Lack of perception of Not able to comprehend Faulty survey and Cannot process results; Data presentation 0 marks
the subject and concept of a model; mistakes in data; not able faulty conclusions in untidy and for each
objective; lack of effort. unable to prepare to proceed even with spite of assistance disorganised; effort and criterion
questionnaire even with assistance. provided. initiative lacking.
assistance.

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