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:
1: The Fundamental Concepts of Macroeconomics
Lesson 1: Definition and Focus Areas of Macroeconomics:
Lesson 2: Key Challenges in Macroeconomics:
Lesson 3: The Schools of Thought in Macroeconomic Analysis:
2: Aggregate Demand and Aggregate Supply Analysis
Lesson 4: Aggregate Demand
Lesson 5: Aggregate Supply
Lesson 6: Equilibrium of Aggregate Demand and Aggregate Supply
3: Market Failure and Consumer Protection
Lesson 7: Introduction to Market Failure
Lesson 8: Understanding Public Goods
Lesson 9: Externalities
Lesson 10: Asymmetric Information
Lesson 11: Consumer Protection
4: Macroeconomic Economic Policy Instruments
Lesson 12: Definition and Types of Macroeconomic Policies
Lesson 13: Fiscal Policy
Lesson 14: Monetary Policy
Lesson 15: Income and Wage Policies
Lesson 16: Foreign Exchange Policies
Assessment:
- Engagement (brainstorming questions)
- Activity questions
- Quizzes
- Model Exams
Reference:
Textbook References
- Grade 12 Economics Student Text Book Based On New Curriculum
- Grade 11 Economics Textbooks
- McConnell, C. R., Brue, S. L., & Flynn, S. M. (2018). Macroeconomics: Principles, Problems, and Policies (21st ed.). McGraw-Hill Education.
- Mankiw, N. G. (2018). Principles of Macroeconomics (8th ed.). Cengage Learning.
- Mankiw, N. G. (2020). Essentials of Economics (9th ed.). Cengage Learning.
- Mishkin, F. S. (2018). The Economics of Money, Banking, and Financial Markets (12th Global ed.). Pearson.
- Frank, R. H., Bernanke, B. S., & Antonovics, K. (2019). Principles of Economics (7th ed.). McGraw-Hill Education.
- Pindyck, R. S., & Rubinfeld, D. L. (2018). Microeconomics (9th ed.). Pearson.
- Gruber, J. (2019). Public Finance and Public Policy (6th Global ed.). Worth Publishers.
- Krugman, P., & Obstfeld, M. (2018). International Economics: Theory and Policy (11th Global ed.). Pearson.
- Sarno, L., & Taylor, M. P. (2018). Exchange Rate Economics: Theories and Evidence (2nd ed.). Oxford University Press.
