Economic Theory 12

Big Ideas

  1. Contemporary economic theory, practice, and terminology are grounded in centuries of economic theory.
  2. Observing, interpreting, and judging past economic conditions from different perspectives and worldviews gave rise to competing theoretical approaches.
  3. The implementation of economic theories has profound effects on social and political decision making and movements.
  4. Economic systems have underlying and often opposing ethical standards and implications.


  • Economic practice from money to mercantilism
  • Classical theories of value, growth, and distribution
  • Classical theories of money, banking, and government economic policy
  • Marxist economics
  • Neoclassical economics and theories of markets
  • Keynesian theory of money, investment, and cycles
  • Contemporary economic thought

Curricular Competencies

  • Use Social Studies inquiry processes and skills to ask questions; gather, interpret, and analyze ideas; and communicate findings and decisions
  • Assess the significance of theoretical developments at particular times and places (significance)
  • Assess the justification for competing economic theories after investigating the adequacy of facts, interpretation, and evidence (evidence)
  • Compare and contrast continuities and changes within and between economic theories (continuity and change)
  • Assess how historical conditions influenced the development of economic theories (cause and consequence)
  • Assess how economic theories affected social and political change (cause and consequence)
  • Explain different perspectives on past and present economic theories by considering prevailing norms, values, worldviews, and beliefs (perspective)
  • Make reasoned ethical judgments about the past and present application of economic theories in economic, social, and political policy and decision making (ethical judgment)

BC Curriculum Overview

The Content

The course runs for a total of 110 hours. The lessons outlined below are all structured for 100 minutes of instruction time, unless otherwise stated.

The 110 hours also includes additional time that may be allocated for assignments at the teacher’s discretion.

The first and second lesson are free! Then individual lessons are priced at $5 or the whole course at $95

$95.00Add to cart


Available within the relevant lessons:

  • Assignment 1.1 The PPC
  • Assignment 1.2 Franchise Infographic
  • Assignment 1.3 Battle Royale
  • Assignment 2.1 Budgeting
  • Assignment 2.2 Investing
  • Assignment 3.1 Supply and Demand
  • Assignment 3.2 Collective Bargaining Simulation
  • Assignment 3.3 Externalities DME
  • Assignment 3.4 Unemployment Essay
  • Assignment 4.1 Monopoly Game
  • Assignment 4.2 Social Inequity Essay
  • Assignment 5.1 The Impact of COVID-19
  • Assignment 5.2 Business Decision Making Exercise
  • Assignment 5.3 International Agreements and Organisations