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.
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.
Impact of Agricultural practices on the
Ecosystem.
Construction of dams- loss of habitat species.
Loss of top soil and desertification.
Indiscriminate use of fertilizers and pesticides.
Measures to check the ecosystem;
Governmental initiatives: not building large dams
for generating hydroelectric power which leads to
less land being submerged and less displacement
of people.
Alternative cropping for checking loss of topsoil
and desertification. Plantation and conservation
of grasslands to check soil erosion. Use of
manure, bio-fertilizers and bio-pesticides green
manuring, compost. These are eco-friendly
alternatives to pesticides and fertilizers.
Role of Industries in the Indian Economy.
Impact of industrial practices on the ecosystem.
Mining, industries, energy generation,
automobiles, urbanisation leading to defacement
of land, deforestation, deterioration of
hydrological resources.
Industrial waste: mining operations, cement
factories, oil refineries, construction unit.
Spoilage of landscape, pollution, health hazards,
effect on terrestrial, aquatic (fresh water and
marine) life.
Measures to check the ecosystem.
Improving efficiency of existing technologies and
introducing new eco-friendly technologies.
Methods of safe disposal of waste segregation,
dumping, composting, drainage, treatment of
effluents before discharge.
Abatement of pollution.
Air: setting standards and implementing them,
using technical devices to reduce pollution.
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.
4. Consumer Awareness
Ways in which consumer is exploited. Reasons for
exploitation of consumers; Growth of consumer
awareness; consumer behaviour in the market;
consumer rights. Legal measures available to
protect consumers from being exploited
(COPRA, RTI).
Understanding the importance of educating
consumers of their rights awareness of food
adulteration and its harmful effects.
. Globalization
Meaning and factors enabling Globalization
WTO, impact of Globalization.
Meaning of globalization.
Factors enabling
globalization
technology and liberalization
(removal of trade barriers).
WTO (main objectives), favourable impacts of the
globalization - starting of MNC's and benefits to
Indian companies.
NOTE: It is suggested that case studies may be
discussed on the following topics:
Globalization
Consumer Awareness
Bhopal Gas Tragedy
• Chernobyl Disaster
INTERNAL ASSESSMENT
Candidates will be required to do a minimum of four
assignments during the year, as assigned by the
teacher.
Suggested list of assignments:
1. Identify 100 consumers of major brands of edible
oils in a locality/area where you live. Draw up the
pattern of their monthly expenditure on this
product and compare it with the other household
expenditure. Make a presentation of your findings
in class.
2. Identify the major brands of bathing soaps that are
available in the market in your area. Select a
sample of 10 shops/ department stores that sell
these brands and collect the sales of these brands
over a period of one week at these shops. Identify
the brands that sell the most and make a
presentation for your class.
3. Make a presentation on the central problems an
economy faces. Explain these with reference to the
Indian economy.
4. Take a developed country such as the USA and a
developing country such as India. Analyze the
main characteristics of these economies.
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.
INTERNAL ASSESSMENT - 100 Marks
Candidates will be required to do a minimum of four
assignments during the year, as assigned by the
teacher.
Suggested list of assignments:
1. Identify 100 consumers of major brands of edible
oils in a locality/area where you live. Draw up the
pattern of their monthly expenditure on this
product and compare it with the other household
expenditure. Make a presentation of your findings
in class.
2. Identify the major brands of bathing soaps that are
available in the market in your area. Select a
sample of 10 shops/ department stores that sell
these brands and collect the sales of these brands
over a period of one week at these shops. Identify
the brands that sell the most and make a
presentation for your class.
3. Make a presentation on the central problems an
economy faces. Explain these with reference to the
Indian economy.
4. Take a developed country such as the USA and a
developing country such as India. Analyze the
main characteristics of these economies.
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.
6. Take a table of food grain production in India from
any textbook on Indian economy or any other
secondary source such as internet. Interpret the
changes in the production over a given period of
time.
7. Given a table of population growth for period
between 1971 and 2001 and table of contribution
of agriculture, industry and services sector for the
same period, compare the two tables and present
your findings in the form of a presentation.
8. Make a presentation of the major trading partners
of India in the last 15 years. Specify the major
changes that have taken place in the last five years.
9. What are the major items of export and imports
from India in the last five years? Use secondary
data sources and make out the changes that have
taken place in this context.
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