Analyzing Current Economic Issues

Teachers: Mr. Szpiech

Course outline

Unit 1: Introduction to Economics

  • The Economic Problem
  • Economic Resources
  • Economic Models, Structures and Systems
  • PPC Curve
  • Micro vs. Macro Economics
  • Economic Goals

Unit 2: Demand and Supply

  • Demand line and shift factors
  • Supply line and shift factors
  • The equilibrium point
  • Price Controls – Shortages and surplus
  • Elasticity of Demand and Supply

Unit 3: Stock Market

  • What are stocks?
  • Factors affecting the price of stocks
  • Purchasing and selling in the stock market
  • Portfolio Management
  • Diversification and Risk Management
  • Index’s and Mutual Funds
  • Stock market challenge

Unit 4: Revenue and Costs

  • Economic costs and profit
  • Diminishing marginal returns
  • Short-run and long-run costs
  • Marginal cost
  • Returns to scale/ Productivity
  • Market Structures

Unit 5: Income Distribution

  • Employment vs. Unemployment
  • Analyzing Poverty
  • The Lorenz curve
  • Tax implications
  • Union implications

Unit 6: Productivity Measurement

  • Calculating GDP
  • Nominal vs. Real GDP
  • Inflation
  • Calculating Unemployment and implications
  • CPI

Unit 7: Fiscal and Monetary Policies

  • The movement of money
  • The Business Cycle
  • Economic Fluctuations
  • Implementation and implications of Fiscal Policies
  • Implementation and implications of Monetary Policies

Culminating Activity

  • Economic Analytical Report

All handouts and resources students need will be posted in the class’s D2L space.

Ministry 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.

This course is suggested for students thinking of going into business studies in post-secondary.

Overall Curriculum Expectations:  Refer to the Ministry of Education document entitled The Ontario Curriculum, Grades 11 and 12: Canadian and World Studies which is available on the Ministry of Education Website (http:///www.edu.gov.on.ca)

Course materials

Required materials: 3-ring binder, paper, pens, pencils
Suggested materials: calculator

Resources

Resource links provide students with additional information to help them with their skill development and to enhance their learning.