Is the way decisions are made in a country about: What goods are to be produced? How are these to be produced? Who is to benefit from the production? How many types of economic systems are there? What are they called? Which one is Ireland? Reference Book pages or handout numbers & dates website urls You Tube clips There are three economic systems. They are: 1. Free market/enterprise 2. Mixed economy 3. Centrally planned. Ireland is a mixed economy KWHL charts assist teachers in activating students' of a subject or topic and encourage inquisition, active reading, and research. They may also serve as an assessment of what students have learned during a unit of study. The K stands for what students know, the W stands for what students want to learn, the H stand for how they student will find out and the L stands for what the students learn as they read or research. KWL creator is available @ tinyurl.com/kwlcreator KWHL KWL creator is available @ tinyurl.com/kwlcreator Pre-reading comprehension & Assessment for Learning (AfL) strategy K W H L What do I know about this What do I want to know How do I find out more What have I learned about
QUESTION MY THOUGHTS/IDEAS MY PARTNERS THOUGHTS/IDEAS COMBINED IDEAS BLOOMS TAXONOMY OF CRITICAL THINKING A B C 1 2 3 4 5 6 Knowledge/Remembering Comprehension/ Understanding Application Analysis Synthesis/Creating Evaluation Count Choose Associate Classify Add Apply Analyse Arrange Breakdown Categorize Combine Compile Appraise Assess
Expected Learning Outcomes The students will be able to do the following: General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Define economic goods Explain the characteristics of economic good Explain and evaluate the assumptions underlying consumer behaviour Explain and illustrate the concept of utility Explain the concept of marginal utility Define and illustrate the law of diminishing marginal utility Explain and evaluate the assumptions underlying the law of diminishing marginal utility define and illustrate the principal of equi-marginal utility Calculate the marginal utility Discuss Alfred Marshall’s contribution to economic thought WRT consumer & utility Book page Workbook page Worksheet no Economic goods doc Powerpoints The consumer & utility clip KWHL Q & A using Bloom’s prompts Think-pair-share Anticipation guide Calculate the marginal utility Revision resources Class tests Collated SEC exams & schemes Short questions doc STUDYCLIX HL STUDYCLIX OL MICRO TOPIC 4 : CONSUMER DEMAND (APPLICATION 1 OF RCT) WEEK:
Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Distinguish between individual demand and market/aggregate demand List and explain the determinants and influences of demand Explain a demand schedule and illustrate by means of a demand curve Demonstrate a change in any of the determinants of demand and interpret the outcomes using diagrams Discuss Alfred Marshall’s contribution to economic thought WRT consumer demand Book page Workbook page Worksheet no Powerpoints Demand Student presentation Video KWHL Q & A using Bloom’s prompts Think-pair-share Anticipation guide Drawing diagrams Labeling diagrams Interpreting diagrams Show-me board to practice drawing diagrams & AfL Revision resources Class tests Collated SEC exams & schemes Exam questions template doc STUDYCLIX HL STUDYCLIX OL LEAVING CERTIFICATE ECONOMICS LEAVING CERTIFICATE ECONOMICS
MICRO TOPIC 5: PRODUCER SUPPLY (APPLICATION 2 OF RCT) WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Distinguish between individual supply and market/aggregate supply List and explain the determinants and influences of supply Explain the supply schedule and illustrate by means of a supply curve Demonstrate a change in any of the determinants of supply and interpret the outcome using diagrams Explain Say’s Law Book page Workbook page Worksheet no Powerpoints Supply Student presentation (scoilnet) KWHL Q & A using Bloom’s prompts Think-pair-share Drawing diagrams Labeling diagrams Interpreting diagrams Show-me board to practice drawing diagrams & AfL Revision resources Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL LEAVING CERTIFICATE ECONOMICS
MICRO TOPIC 6: THE MARKET MECHANISM (APPLICATION 3 OF RCT) WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Explain and illustrate, by means of a diagram, equilibrium price and equilibrium quantity Apply the tools of demand and supply analysis to price and quantity changes in markets Discuss Alfred Marshall’s contribution to economic thought WRT the market mechanism Book page Workbook page Worksheet no Powerpoints Business 2,000 quiz KWHL Q & A using Bloom’s prompts Think-pair-share Drawing diagrams Labeling diagrams Interpreting diagrams Show-me board to practice drawing diagrams & AfL Revision resources Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL LEAVING CERTIFICATE ECONOMICS
LEAVING CERTIFICATE ECONOMICS MICRO TOPIC 8 (a): FACTORS OF PRODUCTION – LAND WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Define land as a factor of production Give examples of land and state how they contribute to the production of wealth Explain the economic characteristics of land Explain why land is a unique factor of production Explain why the demand for land is a derived demand Illustrate and explain the concept of economic rent Explain the factors that influence the price paid for land Describe the factors that determine the location of a factory Explain the factors leading to the price of property increasing/decreasing in Ireland Discuss RICARDO’S contribution to economic thought Book page Workbook page Worksheet no Powerpoints Land Sliderocket (NK) Land Sliderocket (NK) Irelands property crash KWHL Q & A using Bloom’s prompts Think-pair-share Drawing diagrams Labeling diagrams Interpreting diagrams Show-me board to practice drawing diagrams & AfL Revision resources Class tests Collated SEC exams & schemes Exam questions template doc STUDYCLIX HL STUDYCLIX OL
MICRO TOPIC 8 (b): FACTORS OF PRODUCTION – LABOUR WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Define labour Illustrate and explain the concept of derived demand Demonstrate an understanding of MRP and MPP as they relate to labour Examine the factors that affect the demand for labour by an individual firm Illustrate by means of a diagram the relationship between the wage rate and quantity demanded of labour Illustrate by means of a diagram the relationship between the wage rate and the quantity supplied of labour Examine the factors affecting the mobility of labour Define geographical mobility and occupational mobility of labour Illustrate and interpret the backward bending supply curve of labour Illustrate and explain equilibrium wage level Examine the reasons for differences in wage rates Examine what factors make labour efficient. DISTINGUISH BETWEEN Smith & Marx labour theory of vaue Book page Workbook page Worksheet no Powerpoints Labour Student presentation KWHL Q & A using Bloom’s prompts Think-pair-share Drawing diagrams Labeling diagrams Interpreting diagrams Show-me board to practice drawing diagrams & AfL Revision resources Class tests Collated SEC exams & schemes Exam questions template doc STUDYCLIX HL STUDYCLIX OL
LEAVING CERTIFICATE ECONOMICS MICRO: TOPIC 8 (c): FACTORS OF PRODUCTION – CAPITAL WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Define capital and explain why interest is the return Examine why capital is needed in an economy Explain the different types of capital Illustrate an understanding of marginal efficiency of capital Explain the factors that influence marginal efficiency of capital Compare capital widening and capital deepening Define savings and stage those who save in society Explain the factors that influence the level of savings Evaluate why savings are important Define investment State the factors that influence the level of Book page Workbook page Worksheet no Powerpoints Capital KWHL Q & A using Bloom’s prompts Think-pair-share Revision resources Class tests Collated SEC exams & schemes Exam questions template doc STUDYCLIX HL STUDYCLIX OL
LEAVING CERTIFICATE ECONOMICS MICRO: TOPIC 10: COSTS WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Revision & AoL Explain the short run period Explain the long run period Define implicit, explicit and opportunity cost Define, apply and interpret the law of diminishing returns Explain, calculate and illustrate average fixed cost, average variable cost and average total cost Explain, calculate and illustrate total, average and marginal revenue and marginal cost Define and illustrate total profit and normal profit Derive and illustrate the SRAC (or SAC) and account for its shape Define and identify the point of optimum production Derive and illustrate the LRAC and account for its shape Analyse the reasons why businesses grow (economies of scale) and the constraints on growth (diseconomies of scale) Examine the economic reasons for the survival of small firms in the Irish economy Explain social costs and benefits Book page Workbook page Worksheet no Powerpoints Costs Costs of production (student presentation) KWHL Q & A using Bloom’s prompts Think-pair-share Numeracy Drawing diagrams Labeling diagrams Interpreting diagrams Calculating FC, VC, AC, MC, Revision resources Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL
LEAVING CERTIFICATE ECONOMICS MICRO TOPIC 11 (d): MARKET STRUCTURES - IMPERFECT COMPETITION WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Explain, with examples, the theory of imperfect competition Describe the assumptions underlying imperfect competition Illustrate and explain the firm’s demand curves Describe the equilibrium for an imperfectly competitive firm in the short run Define and illustrate supernormal profits Discuss why new firms may enter the industry Analyse the effects on equilibrium of new entrants Describe, with the aid of a diagram, the equilibrium for an imperfectly competitive firm in the long run Illustrate and explain profit-maximising output/price Analyse perfect competition as a market form from the point of view of consumers, producers and the use of scarce resources Book page Workbook page Worksheet no Powerpoints Imperfect competition KWHL Q & A using Bloom’s prompts Think-pair-share Drawing diagrams Labeling diagrams Interpreting diagrams Show-me board to practice drawing diagrams & AfL Revision resources Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL Market structures grid for revision
LEAVING CERTIFICATE ECONOMICS MACRO TOPIC 13 (a): GOVERNMENT - ECONOMIC AIMS AND POLICIES WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Evaluate the government’s economic aims and objectives Comment on the significance of those aims and objectives Discuss the methods/instruments used in achieving these aims and objectives Evaluate the possible conflict in achieving them simultaneously in a national and international context Discuss the economic benefits and consequences of nationalisation and privatisation Book page Workbook page Worksheet no PDST Powerpoints etc. KWHL Studystack Q & A using Bloom’s prompts Think-pair-share Placement Revision resources Exam outcome verbs Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL LEAVING CERTIFICATE ECONOMICS
MACRO TOPIC 13 (b): EMPLOYMENT WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Define full employment Critically analyse the implications of full employment for the economy Define unemployment and differentiate between the various types of unemployment Describe the methods of measuring unemployment and explain their limitations Examine the main causes of and suggest strategies for reducing unemployment in the Irish economy Discuss the impact of unemployment on the Irish economy Define under-employment Analyse/outline the impact of industry on the Irish economy Analyse the economic effects of job Book page Workbook page Worksheet no PDST Powerpoints etc. KWHL Q & A using Bloom’s prompts Think-pair-share Placement Revision resources Exam outcome verbs Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL
Expected Learning Outcomes The students will be able to do the following: methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Identify and define exchequer borrowing requirement, public sector borrowing requirement, general government deficit and national debt Examine and evaluate the reasons for state borrowing Differentiate between external and internal national debt List the functions of the NTMA Identify, interpret and assess the changing debt/GDP ratio Understand and critically analyse the impact of default Book page Workbook page Worksheet no PDST Powerpoints etc. KWHL Studystack Q & A using Bloom’s prompts Think-pair-share Placement Revision resources Exam outcome verbs Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL LEAVING CERTIFICATE ECONOMICS MACRO TOPIC 14: MONEY & BANKING WEEK:
Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Define money and legal tender Analyse the functions that money performs and the properties required to fulfil this role successfully Explain the main forms of money in use in a modern economy Define monetary policy Describe examples of cashless transactions Outline the role of national financial institutions Outline the current role and functions of the Central Bank Outline the current role and functions of the European Central Bank (ECB) Evaluate the ECB’s policies/actions on the Irish economy Critically analyse the suitability of these policies/actions on the Irish economy Differentiate between the nominal interest rate and the real interest rate Outline the factors that influence the rate of interest and their economic effects Book page Workbook page Worksheet no PDST Powerpoints etc. KWHL Studystack Q & A using Bloom’s prompts Think-pair-share An introduction to interest, (will help generate a worksheet or offer a focus point); Active learning about interest: Easy way to demonstrate issues concerning currency exchange: (would be useful to allow Revision resources Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL
Expected Learning Outcomes The students will be able to do the following: General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Evaluate the importance of membership for Ireland to the European Union Discuss the role and function of European Institutions Discuss the policies of the EU that are relevant to Ireland as an EU member state Outline the role and functions of the World Bank Outline the role and functions of the International Monetary Fund Book page Workbook page Worksheet no PDST Powerpoints etc. KWHL Q & A using Bloom’s prompts Think-pair-share Placement Revision resources Exam outcome verbs Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL LEAVING CERTIFICATE ECONOMICS MACRO TOPIC 16 (c): BALANCE OF PAYMENTS AND FOREIGN EXCHANGE WEEK: Differentiated AfL & skills can be fostered through differentiated content, activities & methodologies
Expected Learning Outcomes The students will be able to do the following: General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Illustrate the size, composition and trends of national population Illustrate the size, composition and trends of global population Define demography, overpopulation, underpopulation and optimum population Define birth rate, fertility rate, death rate, infant mortality rate and life expectancy rate Define density of population Evaluate the economic effects of an aging population on the Irish economy Illustrate the push and pull forces of migration Analyse the consequences of an increase in emigration Consider the implications of the changing structure and size of the Irish population Outline the economic uses of a census of population in Ireland Evaluate the importance of a census of population Book page Workbook page Worksheet no PDST Powerpoints etc. KWHL Studystack Q & A using Bloom’s prompts Think-pair-share Placement Revision resources Exam outcome verbs Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL
LEAVING CERTIFICATE ECONOMICS TOPIC 19 : REVIEW OF THE HISTORY OF ECONOMIC THOUGHT WEEK: Differentiated Expected Learning Outcomes The students will be able to do the following: AfL & skills can be fostered through differentiated content, activities & methodologies General Literacy Comprehension, writing, oral language strategies Numeracy Language, estimation, problem solving strategies Revision & AoL Create a mindmap of the economists, schools of thought and main ideas associated with each economist. Book page Workbook page Worksheet no PDST Powerpoints etc. KWHL Studystack Q & A using Bloom’s prompts Think-pair-share Placement Revision resources Exam outcome verbs Class tests Collated SEC exams & schemes STUDYCLIX HL STUDYCLIX OL