Appendix 2: Examples of a weekly course outline on a semester of sixteen weeks, a suggested allocation of teaching time in Unit 3 would be six weeks for Area of Study 1, five weeks for Area of Study 2, and five weeks for Area of Study 3. Following is a suggested time allocation for Unit 3, Area of Study 1: An introduction to microeconomics: the market system, resource allocation and government intervention. (based on 6 available weeks) ½ a week Introductory concepts needs, wants, resources, relative scarcity, – opportunity cost 1 week Demand the law of demand, the demand curve and demand factors – 1 week Supply the law of supply, the supply and supply factors – 1 week Factors affecting the elasticity of demand and supply ½ a week The role of relative prices in competitive markets on the allocation of resources, including reference to the types of efficiency 1½ weeks Reasons for market failure and government intervention to address market failure and the unintended consequences of government intervention ½ a week Preparing and undertaking School-assessed Coursework assessments Following is a suggested time allocation for Unit 3, Area of Study 2: Domestic goals. (based on 5 available weeks) 1½ weeks Living standards, circular flow model, business cycle, aggregate demand and aggregate supply 1 week Low inflation (price stability) 1 week Strong and sustainable economic growth 1 week Full employment ½ a week Preparing and undertaking School-assessed Coursework assessments
Appendix 2: Examples of a weekly course outline on a semester of sixteen weeks, a suggested allocation of teaching time in Unit 3 would be six weeks for Area of Study 1, five weeks for Area of Study 2, and five weeks for Area of Study 3. Following is a suggested time allocation for Unit 3, Area of Study 1: An introduction to microeconomics: the market system, resource allocation and government intervention. (based on 6 available weeks) ½ a week Introductory concepts – needs, wants, resources, relative scarcity, opportunity cost 1 week Demand – the law of demand, the demand curve and demand factors 1 week Supply – the law of supply, the supply and supply factors 1 week Factors affecting the elasticity of demand and supply ½ a week The role of relative prices in competitive markets on the allocation of resources, including reference to the types of efficiency 1½ weeks Reasons for market failure and government intervention to address market failure and the unintended consequences of government intervention ½ a week Preparing and undertaking School-assessed Coursework assessments Following is a suggested time allocation for Unit 3, Area of Study 2: Domestic goals. (based on 5 available weeks) 1½ weeks Living standards, circular flow model, business cycle, aggregate demand and aggregate supply 1 week Low inflation (price stability) 1 week Strong and sustainable economic growth 1 week Full employment ½ a week Preparing and undertaking School-assessed Coursework assessments
EconomicsAFT-2017.docx