Analysing Current Economic Issues, Grade 12
Name of School: KCS Online Learning
Department: Social Studies
Course Developer: Christian Bayly
Course Development Date: June 2019
Course Reviser/Revision Date: ----
Course Title & Grade: Analysing Current Economic Issues, Grade 12
Ministry Course Code: CIA4U
Course Type: University Preparation
Credit Value: 1.0
Developed from: Canadian and World Studies, The Ontario Curriculum Grades 11 and 12 REVISED, 2015
Prerequisite: Any university or university/college preparation course in Canadian and world studies, English, or social sciences and humanities
Course Description:
This course examines current Canadian and international economic issues, developments, policies, and practices from diverse perspectives. Students will explore the decisions that individuals and institutions, including governments, make in response to economic issues such as globalization, trade agreements, economic inequalities, regulation, and public spending. Students will apply the concepts of economic thinking and the economic inquiry process, as well as economic models and theories, to investigate, and develop informed opinions about, economic trade-offs, growth, and sustainability and related economic issues.
Curriculum Overall Expectations:
A. ECONOMIC INQUIRY AND SKILL DEVELOPMENT
- A1. Economic Inquiry: use the economic inquiry process and the concepts of economic thinking when investigating current Canadian and international economic issues;
- 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.
B. FUNDAMENTALS OF ECONOMICS
- B1. Scarcity and Choice: demonstrate an understanding of the significance of the concept of scarcity and how it influences economic choices and decisions of various economic stakeholders
- B2. Supply and Demand Models: demonstrate an understanding of supply and demand models, including how to apply these models, and of factors that affect supply and demand
- B3. Growth and Sustainability: analyse aspects of economic growth/development, including its costs, benefits, and sustainability
- B4. Economic Thought and Decision Making: analyse how economic and political ideas and various sociocultural factors affect economic decision making
C. FIRMS, MARKETS, AND ECONOMIC STAKEHOLDERS
- C1. The Firm and Market Structures: demonstrate an understanding of markets and theories of the firm
- C2. Economic Trade-Offs and Decisions: analyse economic trade-offs from the perspective of different stakeholders, including those in different countries, and how trade-offs influence economic decisions
- C3. The Role of Government in Redressing Imbalance: explain ways in which governments, both in Canada and internationally, intervene in the economy to help address social needs and economic imbalances
D. MACROECONOMICS
- D1. Macroeconomic Models and Measures: demonstrate an understanding of various macroeconomic models and measures, including indicators used to measure economic inequalities, and assess their usefulness
- D2. Fiscal Policy: demonstrate an understanding of fiscal policy in Canada, including how it is shaped and its impact
- D3. Monetary Policy: analyse various aspects of monetary policy in Canada and their impact on the economy
E. GLOBAL INTERDEPENDENCE AND INEQUALITIES
- E1. Theories and Models of International Trade: analyse various theories, models, and issues relating to international trade
- E2. International Economic Developments: analyse the impact of some key international economic events and developments as well as various responses to them
- E3. International Economic Power and Inequality: explain the main causes and effects of global economic disparities and assess the effectiveness of responses to these disparities