YEAR 10 ECONOMICS COURSE SYLLABUS
Course Outline
Overview
The 9 Level Economics syllabus aims to enable students to understand economic terminology, concepts and theories, use basic economic numeracy and interpret economic data, use the tools of economic analysis, express economic ideas logically and clearly in a written form and apply economic understanding to current economic issues. This course also develops skills of communication, analysis, interpretation, and presentation of both qualitative and quantitative economics data information by creating a link to real-life examples.
Learning Outcomes
The aims are to enable students to:
- know and understand economic terminology, concepts, and theories
- use basic economic numeracy and interpret economic data
- use the tools of economic analysis
- express economic ideas logically and clearly in a written form
- apply economic understanding to current economic issues.
Unit Overviews
Term 1
Section 1 Basic economic problem
Approximate length: 4 weeks
This section introduces the fundamental ideas and concepts that underpin the study of economics including the basic economic problem, factors of production, opportunity cost and production possibility curves.
Cambridge International Curriculum Standards
To be able to define the nature of the economic problem in terms of finite (limited) resources and infinite (unlimited) wants.
- To be able to define the factors of production and their rewards.
- To be able to define opportunity cost and analyze circumstances to illustrate the concept.
- To be able to define and demonstrate how production possibility curves can be used to illustrate choice and resource allocation.
- To be able to evaluate the implications of courses of action in terms of opportunity cost
Section 2 The allocation of resources
Approximate length: 9 weeks
The fundamental principles of resource allocation are considered through the price mechanism in a market economy. The market forces of demand and supply, market equilibrium and disequilibrium, and elasticity form the core of this section.
Cambridge International Curriculum Standards
- To be able to demonstrate the principle of equilibrium price and analyze simple market situations with changes in demand and supply.
- To be able to describe the causes of changes in demand and supply conditions and analyze such changes to show effects in the market.
- To be able to define price elasticity of demand and supply and perform simple calculations.
- To be able to demonstrate the usefulness of price elasticity situations such as revenue changes, consumer expenditure.
- To be able to describe the allocation of resources in market and mixed economic systems.
- To be able to evaluate the merits of the market system. To be able to describe the concept of market failure and explain the reasons for its occurrence.
- To be able to define private and social costs and benefits and discuss conflicts of interest in relation to these costs and benefits in the short-term and long-term through studies of the following issues:
- conserving resources versus using resources
- public expenditure versus private expenditure.
General teaching methodologies will include Online and Face to Face (Blended) learning, Face to face students will be in class while online learners will log in remotely and follow the instructor, who will have the laptop camera facing the smartboard. Teaching will be done using a combination of writing and illustrating on the smartboard and PowerPoint presentations. This should include a combination of oral and visual methods to differentiate instruction modes to cater to student preferences effectively.
Use of Phoenix to allocate differentiated activities catering to varying learning abilities of the students – these online activities will include quizzes, assignments, research-based projects, digital group activities and formative tests.
Feedback to students will be given through the Gems Phoenix platform. Feedback will include rubrics, teacher, and peer marking.
Questions from students – time allocated to allow students the opportunity to ask questions and give written and oral feedback through digital platforms.
