Economics Year 4/5 – The Grammar School

PEARSON EDEXCEL IGCSE (9-1) ECONOMICS

COURSE PLANNER – CLASS 4:

Teaching Week	Topic	Key Learning Objectives
1	Course introduction Chapter 1: The Economic Problem Chapter 14: The Factors of Production and Sectors of Economy	Understand the problem of scarcity, opportunity cost and PPC. Understand the four factors of production and the diff erent sectors of the economy.
2-3	Chapter 11: The Mixed Economy Notes: Developed and Less-developed economies, Population	Understand the mixed economy, public and private sectors, government intervention. Understand the characteristics of developed and less-developed Economies, dependency ratio, aging population.
4-9	Chapters 3-10: Demand, Supply, Equilibrium and Elasticities	Understand how demand/supply is defined, the relation with price, causes of demand/supply shift, market equilibrium, elasticities.
10-11	Chapter 15: Productivity and Division of Labour	Understand productivity and division of labour
12-13	Chapter 16: Business Costs, Revenues and Profit	Understand various business costs, revenues and profit
14-15	Chapter 17: Economies and Diseconomies of Scale	Understand the types of internal and external economies, the diseconomies of scale, and the long run average cost curve.
16-18	Notes: Integration Chapter 19: Large and small firms Chapter 12: Privatization	Understand internal and external growth of firms, mergers and take-overs, the advantages and disadvantages of large and small firms, the reasons why some firms stay small, privatization and its effects, nationalization.
19	Chapters 13 and 29: Externalities	Understand the types of externalities, formulae, government policies to deal with externalities.
20-22	Chapters 22-24: Labour Market	Understand the demand/supply of labour, wage determination, trade union, government intervention in the labour market.
23-25	Chapters 18, 20-21: Competitive Markets Chapter 2: Economic Assumptions	Understand competition, the main features and advantages/disadvantages of monopoly, the main features and advantages/disadvantages of oligopoly. Understand the assumptions in economics, why consumers might not maximize their benefit, why producers may not maximize their profit.
26	Revisit topics	Revisit topics for extra practice.
Plus two tests per term, revision, exam practice and preparation, final exam.

Resources: Key textbook -Edexcel IGCSE (9-1) Economics Student Book by Rob Jones, Handouts, Notes, Past-Papers Booklet, Extra reading material, Microsoft Teams.

Assessment: Tests (two per term), participation, homework, classwork, final exams, discussions, extra materials/assignments etc.

COURSE PLANNER – CLASS 5:

Teaching Week	Topic	Key Learning Objectives
1	Revisiting Chapter 25: Economic Growth	Understand numerical examples and calculations.
2-8	Chapters 26-28: Inflation, Unemployment, Balance of Payments	Understand inflation (types, measure, impact), unemployment (types, measure, impact), Balance of Payments (Current account, deficit/surplus, reasons for deficit/surplus, impact).
9	Chapter 41: Exchange Rates	Understand exchange rates (factors affecting the supply and demand of currencies, diagrams)
10	Chapter 42: Impact of changing exchange rates	Understand the impact of exchange rate changes on the price and demand for imports/exports.
11-12	28 (Part B): Exchange rate and Balance of Payments Notes: Taxation	Understand the relationship between current account and exchange rates. Understand taxation (types of tax systems and taxes, calculations)
13	Chapter 30: Redistribution of Income	Understand income inequality, poverty, reasons for reducing poverty and inequality, government intervention to reduce inequality and poverty.
14-15	Chapter 31: Fiscal Policy	Understand government revenue and government expenditure, fiscal policy and its impact on macroeconomic objectives, fiscal deficit/surplus.
16-18	Chapters 32-34: Monetary and Supply-side Policies, Relationships between objectives and policies	Understand monetary policy, interest rates, central banks, impact of monetary policy on macro objectives, supply-side policies and their impact on macro objectives, relationships between objectives and policies.
19-20	Chapters 36-37: International Trade	Understand MNCs, advantages and disadvantages of free trade.
21	Chapter 38: Protectionism	Understand protectionism (reasons for, advantages and disadvantages, types and effects).
22	Chapter 35: Globalization	Understand globalization (reasons for, impact).
23-26	Chapter 39-40: Trading Blocs and WTO Revisit topics for extra practice	Understand trading blocs (examples and impact on countries), roles of and actions by the WTO. Revisit topics from various chapters for extra practice.
Plus two tests per term, revision, exam practice and preparation, final exam.

Resources: Key textbook –Edexcel IGCSE (9-1) Economics Student Book by Rob Jones, Handouts, Notes, Past-Papers Booklet, Extra reading material, Microsoft Teams.

Assessment: Tests (two per term), participation, homework, classwork, final exams, discussions, extra materials/assignments etc.

Appendix (adapted from material supplied by Pearson):

Some examples of transferable skills	Interpretation in this subject	Examples of where the skill is covered and developed throughout the subject course
Critical thinking	Using economic concepts and data to make judgements. For example, looking at economic growth from different perspectives, looking at economic trade-offs, using data to determine price elasticities of demand and supply.	Economic growth, PPC diagram, Impact of economic activities, Trade-offs, Opportunity cost, Government intervention, Government policies.
Interpretation Problem-solving	Interpret economic data and apply Economic theories, concepts and formulas to different contexts, to solve economic problems. For example, calculations of excess demand and supply, of elasticities, revenues, costs, profits, exchange rates.	Demand and supply, Elasticities, Costs and revenues, Exchange rates, Labour market, Economic cycles, Macroeconomic variables.
Analysis Interpretation	Looking at economic issues and developing and analyzing responses by making reference to knowledge, interpretation of data and diagrams provided. For example, factors affecting productivity, the growth of firms, reasons why consumers may not maximize benefit etc.	Types of economies and diseconomies of scale, factors that influence elasticities, reasons firms stay small, externalities.
Reasoning/Argumentation Evaluation	Give reasons and arguments on both sides related to economic issues. For example, advantages and disadvantages of various topics like division of labour, privatization, government intervention etc.	Arguments for and against various issues like competition, large and small firms, monopoly and oligopoly, free trade. Impact of various issues like appreciation and depreciation, FDI, globalization.
Decision making	Evaluate data and economic issues to draw conclusions which are consistent with evidence. For example advantages and disadvantages of fiscal and monetary policies, of free trade, of competition etc.	Decisions as to the impact of various government policies, MNCs, competition based on the market structure, government intervention and controls.
Creativity Adaptive learning	Apply economic knowledge to situations set in an unfamiliar context (unknown passage or article). For example, looking at real world stories on news and online to determine the appropriate policy response or suggest a way to solve an economic problem.	Assessment of economic issues like the increase in minimum wage, mergers, protectionism, trading blocs, policies to reduce relative poverty.
Continuous learning Direction and Productivity	Planning, setting goals and meeting them regularly, including time management, fluency in economic terms etc.	Feedback in work that is constructive, ways to improve performance, looking at types of questions and what success looks like, discussing stories in the news etc.

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