CIA4U – Social Science – Grade 12
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.
$450.00
*Course outline is subject to change
Overall Curriculum Expectations
By the end of this course, students will :
ECONOMIC INQUIRY AND SKILL DEVELOPMENT
- use the economic inquiry process and the concepts of economic thinking when investigating current Canadian and international economic issues
- apply in everyday contexts skills developed through economic investigation, and identify various careers in which a background in economics might be an asset
FUNDAMENTALS OF ECONOMICS
- demonstrate an understanding of the significance of the concept of scarcity and how it influences economic choices and decisions of various economic stakeholders
- demonstrate an understanding of supply and demand models, including how to apply these models, and of factors that affect supply and demand
- analyse aspects of economic growth/development, including its costs, benefits, and sustainability
- analyse how economic and political ideas and various sociocultural factors affect economic decision making
FIRMS, MARKETS, AND ECONOMIC STAKEHOLDERS
- demonstrate an understanding of markets and theories of the firm
- analyse economic trade-offs from the perspective of different stakeholders, including those in different countries, and how trade-offs influence economic decisions
- explain ways in which governments, both in Canada and internationally, intervene in the economy to help address social needs and economic imbalances
MACROECONOMICS
- demonstrate an understanding of various macroeconomic models and measures, including indicators used to measure economic inequalities, and assess their usefulness
- demonstrate an understanding of fiscal policy in Canada, including how it is shaped and its impact
- analyse various aspects of monetary policy in Canada and their impact on the economy
GLOBAL INTERDEPENDENCE AND INEQUALITIE
- analyse various theories, models, and issues relating to international trade
- analyse the impact of some key international economic events and developments as well as various responses to them
- explain the main causes and effects of global economic disparities and assess the effectiveness of responses to these disparities
Outline of Course Content
The first unit of this course begins by having students explore basic economic concepts such as production possibilities curves, scarcity, choice, and opportunity cost. The second half of the unit deals with different types of economies, including traditional, command, market and mixed, and also looks at key figures in economies like Adam Smith and Karl Marx.
The second unit takes in-depth look at all the important aspects and determinants of market demand, market supply, and market price. The laws of demand and supply are covered as is the concept of price elasticity.
In this unit students learn through examples the role of production and costs. Production under perfect and imperfect competition is examined with topics such as profit maximization, monopolies, and oligopolies being covered in depth. Students finish the unit with analysis of the market for labour, learning about demand and supply shifts, wages and other labour market issues.
Now that students have learned the basics and have an understanding of microeconomics, they begin to explore large-scale economic phenomena. The unit teaches students about GDP, including the expenditures and income approach. They will also learn how to calculate a country’s GDP. Other major topics include unemployment rate and inflation.
Now that students have learned the basics and have an understanding of microeconomics, they begin to explore large-scale economic phenomena. The unit teaches students about GDP, including the expenditures and income approach. They will also learn how to calculate a country’s GDP. Other major topics include unemployment rate and inflation.
Final Exam