Big Ideas
- Contemporary economic theory, practice, and terminology are grounded in centuries of economic theory.
- Observing, interpreting, and judging past economic conditions from different perspectives and worldviews gave rise to competing theoretical approaches.
- The implementation of economic theories has profound effects on social and political decision making and movements.
- Economic systems have underlying and often opposing ethical standards and implications.
Content
- 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
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- Unit 1 – Fundamentals of Economics:
- Scarcity and Choice: analyse the relationship between scarcity and choice and how these considerations affect economic decision making.
- Economic Models: apply economic models to analyse economic choices and issues affecting Canada and Canadians.
- Political and Economic Systems: analyse how different political and economic systems and entities, including governments in Canada, make economic decisions.
- Lesson 2 – Scarcity and Choice (Free)
- Lesson 3 – Factors of Production
- Lesson 4 – The Role of the Consumer
- Lesson 5 – Production Possibilities Curve
- Lesson 6 – Comparative vs. Absolute Advantage
- Lesson 7 – The Business Cycle
- Lesson 8 – Types of Business
- Lesson 9 – Economic and Political Systems | Part 1
- Lesson 10 – Economic and Political Systems | Part 2
- Unit 2 – Financial Planning:
- Demonstrate an understanding of key considerations related to personal financial planning, and use economic data to analyse the costs and benefits of personal financial decisions.
- Unit 3 – Economic Challenges and Responsibilities:
- Market Systems: analyse how various factors, including the practices of different stakeholders, affect markets and the value of goods.
- Workers in Canada: explain the main roles, practices, and concerns of workers, both organized and unorganized, in Canada.
- Employment Patterns and Trends: analyse patterns and trends related to employment and unemployment in Canada, their causes, and their impact on individuals and society.
- Economic Inequality: analyse causes and measures of, as well as responses to, economic inequality in Canada.
- Lesson 2 – Demand and Supply | Part 2
- Lesson 3 – Demand and Supply | Part 3
- Lesson 4 – Public vs. Private Goods
- Lesson 5 – Government Intervention | Part 1
- Lesson 6 – Government Intervention | Assignment
- Lesson 7 – Working in Canada
- Lesson 8 – Rights and Responsibilities
- Lesson 9 – Employment Patterns
- Lesson 10 – Employment Trends
- Unit 4 – Economic Citizenship:
- Producers and Consumers: analyse ways in which producers and consumers participate in the Canadian economy and some ways in which governments affect this participation.
- Government Intervention: analyse various ways in which governments in Canada intervene in the economy as well as factors that influence this intervention.
- Economic Citizenship: explain the roles, perspectives, and influence of various economic citizens in Canada.
- Unit 5 – Economic Interdependence:
- Perspectives on Scarcity and Sustainability: analyse competing perspectives on scarcity and sustainability in Canada and assess their significance.
- Weighing Trade-offs, Making Choices: explain the criteria that governments and firms in Canada use to weigh trade-offs and make economic choices.
- Economic Globalisation: assess the impact of globalization, including international trade and investment, on the Canadian economy.
Assignments
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