Integrated Programme of Development Economics Grade 11 Course Plan INTEGRATED PROGRAMME OF DEVELOPMENT

Economics Grade 11 Course Plan

Long term plan

Subject: economics Grade: 11 Term 1 11.1A Basic economic ideas The subject matter and methods of economics The importance of choice and how this links to scarcity The concept of opportunity cost 11.1B Types of economic systems and economic measurement Different economic systems The nature and sources of economic data The difference between positive and normative economics 11.2B Elasticity of supply and demand The nature of elasticity Elasticity calculations Factors which influence elasticity Elasticity and the responsiveness of economic agents to changes Term 2 11.2A The functions of the market and supply and demand The role and functions of markets The laws of supply and demand The formation of an equilibrium price Term 3 11.3A Production activities of the enterprise and the firm The main aims of firms The main types of firms and their costs and revenues Legal aspects of organisations and anti-trust policies 11.3B Competitive markets Competition in different market structures Competition and efficiency Competition and monopolies 11.4B Market failure and government intervention Positive and negative externalities Private and public goods and their characteristics Governments and market failure Market failure and government intervention Term 4 11.4A Factor markets The factors of production The labour market Factors of production and changing market conditions