Economics Grade 12: Semester 1

Description

Dear Learner,

We’re excited to have you join us as we dive into the dynamic and ever-relevant world of economics. This course is designed to help you master the Grade 12 Economics competencies while equipping you with the tools to understand, analyze, and engage with the economic systems shaping our lives.

Throughout the year, you’ll explore key concepts such as microeconomics, macroeconomics, global trade, fiscal and monetary policies, and economic decision-making. By examining real-world scenarios, current events, and critical issues, you’ll learn how to think like an economist and make informed decisions in an interconnected world.

Whether you’re planning to pursue a career in business, government, or simply want to be an active global citizen, this course will provide the knowledge and skills needed to understand and navigate the complexities of the economy.

Competencies

Dear Learners,

At the end of successful completion of the study of this module, you will be able to:

• Distinguish between macroeconomics and microeconomics and summarize the focal areas of macroeconomics.
• Analyze the challenges posed by economic growth, inflation, unemployment, and other macroeconomic indicators.
• Compare and contrast the Classical, Keynesian, and Monetarist macroeconomic theories and articulate their contributions to economic thought.
• Apply the AS-AD model to examine economic fluctuations and demonstrate comprehension of aggregate demand and supply dynamics.
• Identify instances of market failures, explain public goods, and comprehend concepts such as externalities, asymmetric information, and consumer protection.
• Describe the tools and categories of fiscal, monetary, income, and foreign exchange policies, describing their roles in shaping economic outcomes

Contents:

Assessment:

• Engagement (brainstorming questions)
• Activity questions
• Quizzes
• Model Exams

All assessments consist of automatically graded multiple-choice questions with explanatory feedback. Each question offers four answer choices, marked by small square checkboxes. While the options may not always be labeled A, B, C, or D, you can interpret the checkboxes in that order.

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