CIE3M - UNIT 1 OVERVIEW - ECONOMIC THEORY

Ongoing Curriculum Expectations

A:

Economic Inquiry and Skill Development

Overall Expectations
A1. Economic Inquiry: use the economic inquiry process and the concepts of economic thinking when investigating current economic issues in
Canada
A2. Developing Transferable Skills: apply in everyday contexts skills developed through economic investigation, and identify various careers in
which a background in economics might be an asset

Unit Specific Curriculum Expectations

B. Fundamentals of Economics
Overall Expectations &
Related Concepts of Historical
Thinking

Big Ideas

Framing Questions

B1. Scarcity and Choice: analyse the

relationship

Scarcity is a fundamental economic problem

and has a major impact on economic choices
and decisions.

Why are there trade-offs in any economic

decision?

between scarcity and choice and how these

considerations affect economic decision
making

How does scarcity affect the economies of

different Canadian communities?

(FOCUS ON: Economic Significance; Cause

and Effect)
B2. Economic Models: apply economic models
to analyse economic choices and issues

How do your personal wants and needs

influence your choices as a consumer?

Economists use models to illustrate theories

about how the economy works and to analyse

Why are there trade-offs in any economic

decision?

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affecting Canada and Canadians (FOCUS ON:
Cause and Effect; Stability and Variability)

and predict change.

How do your personal wants and needs

influence your choices as a consumer?

B3. Political and Economic Systems: analyse

how different political and economic systems
and entities, including governments in
Canada, make economic decisions (FOCUS
ON: Stability and Variability; Economic
Perspective)

Economic decision making is affected by

political values.Political decision making can
be affected by economic factors.

How do political values affect economic

decisions?

C. Economic Challenges and Responses

Overall Expectations &
Related Concepts of Historical
Thinking
C1. Market Systems: analyse how various
factors, including the practices of different
stakeholders, affect markets and the value of
goods (FOCUS ON: Cause and Effect;
Economic Perspective)

Big Ideas

Framing Questions

Different stakeholders can have different

perspectives about which economic course of
action is most appropriate.

How is the value of goods determined?

D. Interrelationships Among Economic Citizens

Overall Expectations &
Related Concepts of Historical
Thinking
D1. Producers and Consumers: analyse ways
in which producers and consumers participate
in the Canadian economy and some ways in

Big Ideas
Government policy affects the economic roles
and responsibilities of producers and

Framing Questions
Why does the federal government regulate
competition in Canada?

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which governments affect this participation
(FOCUS ON: Economic Significance; Cause
and Effect)

consumers.

Literacy Themes
Literacy

Environmental Education

Financial Literacy

Readings and analysis of a variety of

types of text, as well as final
culminating task and linkage of
concepts as the course progresses.

Discuss and analyse environmental

impacts of industries and tradeoffs
stakeholders make in their own interest
instead of sometimes benefit of the
environment and NGO expectations.

FCT assignment and introduction of

GDP, and other important financial
terms.

Unit Overview
Teaching and Learning Tools:
Green: e learn available ppt
Topics/
#
Lesson
s

Curricul
um
Objectiv
es

Learning Tasks

Assessment
Framework

Blue= demonstration /
simulation materials

6 Cs Focus

Orange = videos / Flipped

Classroom
Red = Handout to be prepared
Black =

As

Other

For Of
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CIE3M - UNIT 1 OVERVIEW - ECONOMIC THEORY

1.1

B1.1

Introduction to course,
outline, materials, KW
placemat activity
Introduction to
economics

1.2, 1.3

B1.2, B1.5

Introduce two major

economic questions
X

Review, introduce
second question and
activity
B3.1, B3.2

collaboration

Think pair share

communication

Two major questions video

communication

Lecture and powerpoint

Reflection &
application

1.4

Outline, overview, placemat for KW

activity

Review kahoot quiz

Introduction to
economic systems

Online assignment, ppt and video

review, reflection

Critical thinking

Carousel worksheet

Collaboration,
creativity

Online interactive quiz

Communication,
critical thinking

Online CIA factbook research &

analysis as a class

Citizenship,
communication

Assignment- economic systems

1.5

C1.1

Introduction and
review of supply
demand chart

Buyer & seller mock market

Citizenship,

Video and application,

equilibrium and
surplus/shortage

Completion of work and take up with

class

Communication,
citizenship, critical
thinking

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CIE3M - UNIT 1 OVERVIEW - ECONOMIC THEORY

Watch video review and questions
1.6

ALL
SPECIFIC

1.7

quiz
Introduction to
stakeholders

X
X

Quiz

Communication,
critical thinking,

Lecture and powerpoint

Character
education,
citizenship, critical
thinking

Handout of self/social interest of

stakeholders

Shell case sudy

Group work shell case study,

demonstration debate as class
Assignment - current events case
study

1.8

B1.3, B2.2

Introduction to trade
offs and opportunity
costs

Class activity demonstration of trade

offs and opportunity costs
Handout on PPF and opportunity costs

Communication,
collaboration,
creativity

Citizenship,
communication,
critical thinking

Video online review

1.9

B1.3, B2.1

Review of trade offs

and opportunity costs

Opportunity cost and PPF, carry over

example from 1.8 provide example to
class and take up

Communication,
collaboration,
critical thinking

Introduce PPF graphing

and all components; 2
reasons for economic
growth

Video follow along example

Communication,
citizenship, critical
thinking

Complete handout practice work,

reasons for econ growth

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1.10

B1.3

Review opportunity
cost and PPF

Introduce absolute and

comparative
advantages

Take up handout from 1.9

communication

Lecture and powerpoint, note taking

Communication,
creativity, critical
thinking,
collaboration,
character
edcation

Video and complete charts/graphs

related
Class activity and demonstration
Poll everywhere review and reflection

1.11

D1.1

Introduction of perfect,
monopoly and
oligopoly market types

Lecture ppt & examples

demonstration/simulation activity
Students create powtoon
presentations on market type

1.12

ALL

Review unit

1.13

ALL

quiz

Creativity,
communication,
critical thinking,
collaboration,
citizenship

Practice test and review handout

Critical thinking,
communication,
collaboration

quiz

Critical thinking,
communication

Note: Total teaching time will equal approximately (## This must align with the
course outline document) hours.
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End of Unit Teacher Checklist

o This section is for housekeeping of records such as Learning Skills and concluding the current unit and preparing
for the next unit.

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