Economics 10-12 Past Paper PDF

INTRODUCTION The study of Economics is essential in providing the basic concepts and principles as well as the tools for economic analysis. Learners will gain an appreciation for and will better comprehend the basis for national and global economic decisions. This curriculum in Economics has been d...

INTRODUCTION The study of Economics is essential in providing the basic concepts and principles as well as the tools for economic analysis. Learners will gain an appreciation for and will better comprehend the basis for national and global economic decisions. This curriculum in Economics has been designed to develop in learners, the requisite knowledge, skills, competencies, values and attitudes to make informed judgment or decisions on economic matters themselves. The General objectives for Grades 10 – 12 Economics 1. Demonstrate an understanding of the basic concepts and principles of Economics. 2. Develop analytical problem solving and communication skill to make informed judgements about economic issues. 3. Understand and appreciate the basic economic structure of Liberia and those of other countries. 4. Conduct research to analyze social issues impacting the economy. A learner-centered approach is emphasized in this curriculum. This is based on the firm belief that learning becomes more permanent, meaningful and exciting when learners themselves take ownership of the learning process. Instructors are therefore urged to contrive those classroom strategies that engage learners actively in the teaching and learning process. Page 1  SEMESTER ONE GRADE: 10 PERIOD: I TOPIC: NATURE AND SCOPE OF ECONOMICS LEARNING OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ OUTCOMES RESOURCES ASSESSMENT Learners are able to Upon completion of 1. What is Economics Inclusive & A. Primary Text: EXPECTED explain the meaning this topic, learners Differentiated Stanlake’s COMPETENCIES: and fundamental will: Definitions and origin Learning Economics concepts of of Economics By S.J. Grant 8th  Effective Economics. 1. Define and explain Individual seat works Edition Communication the origin of 2. Fundamental or work in mixed Concepts of Learners are able to Economics groups according to B. Secondary Text:  Analytical Skills distinguish the Economics: gender, abilities, and  Scarcity  Essential Economics for branches of 2. List and discuss learning styles  Digital Skills Senior Secondary Economics and the fundamental  Choice Schools (Cole Esan analyze basic concepts in a. Give the origin and  Research and Problem economic problems Economics  Scale of preference, definitions of Ande); 5th Edition, 2017 Solving skills  Opportunity cost, Economics 3. Relate the basic  Comprehensive ASSESSMENT concepts of  Wants & Needs b. Exploration of Economics for Senior STRATEGIES to be used Economics to day- basic Economics Secondary School to check competencies to-day experiences 3. Basic Economic concepts - scarcity, (Johnson U. Anyaele, ( Select relevant option): Problems: choice, scale of 1997) 4. Identify and  What to produce preference, needs  Presentation discuss the basic and wants and  problems in  How to produce opportunity cost Individual  group Economics, and  For whom to produce c. Assign learners to  Written Assignment 5. Categorize and 4. Branches of research basic  Individual explain the Economics – problems in branches & types Economics and  Group Micro & Macro Economics Page 2 of Economic types of Economic  Quiz Systems 5. Economic systems  Individual System:  Presentation d. Ask learners to  Capitalism/Free Enterprise debate the  Written Test advantages and  Test disadvantages of  Socialism the different types  Mixed- of Economic Economy systems. e. Discuss which system of Economics is practiced in Liberia Page 3  SEMESTER ONE GRADE: 10 PERIOD: II TOPIC: THE CONCEPTS OF DEMAND AND SUPPLY OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Upon completion of this 1. Definitions: Inclusive & Differentiated A. Primary Text: EXPECTED Learners are able topic, learners will: Learning Stanlake’s Economics COMPETENCIES: to analyze the  Demand and Supply By S.J. Grant 8th edition behaviors of 1. Explain the meaning laws Individual seat works or work  Effective consumers of demand and supply in mixed groups according to B. Secondary Text: Communication (demand side) 2. Demand and Supply gender, abilities, learning Essential Economics for and producers 2. Draw the demand and schedules styles, etc, Senior Secondary Schools  Analytical Skills (supply side) in supply schedules a. Lead learners to discuss (Cole Esan Ande); 5th the market place 3. Kinds of demand the laws of demand and Edition, 2017  Digital Skills and make rational 3. Derive the market and supply supply and how they can decision that demand and supply apply the concept to Comprehensive Economics  Research and relate to their curves and establish 4. Relationship consumption and for Senior Secondary Problem Solving consumption and the equilibrium or between supply and production of goods and School (Johnson U. skills production of market price of a demand services. Anyaele, 1997) goods and community ASSESSMENT services. 5. Different graphs of b. Group learners to Links: STRATEGIES to be 4. Identify and explain demand and supply analyze supply and used to check www.khanacademy.com the factors affecting curves demand based on factors competencies demand and supply of and types ( Select relevant option): www.guardia,com a commodity 6. Determination of equilibrium price c. Assign learners to  Presentation www.economist.com 5. Demonstrate the and quantity derive hypothetical  Individual movement and shift of supply and demand  group www.investopedia.com demand and supply 7. Determination of schedules to determine curves market clearing equilibrium price and www.economic.ejournal.org  Written price, Shortages & quantity, changes in Assignment 6. List and discuss the Surplus price at each level of www.dictionary.com  Individual types of demand and demand and supply Page 4 supply for a 8. Movements and  Group commodity shift of demand and d. Group learners to supply discuss the exceptional demand curves and give  Quiz 9. Exceptional reasons for the abnormal  Individual Demand Curve behavior of the demand  Presentation Price –ceiling and curve price flow  Written Test e. Ask learners to discuss  Test the concept of price flow and price ceiling and demonstrate it effects in the market Page 5  SEMESTER ONE GRADE: 10 PERIOD: III TOPIC: THE FACTORS OF PRODUCTION OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are able to Upon completion of 1. Definition and Inclusive & Differentiated Primary Text: Stanlake’s EXPECTED describe production this topic, learners types of production Learning Economics COMPETENCIES: and it types and the will be able to: Individual seat works or work By S.J. Grant 8th edition roles of each factors 2. Factors of in mixed groups according to  Effective of production, 1. Define production (land, gender, abilities, learning Secondary Text: Communication examine the impact Production and labor, capital, styles, etc, Essential Economics for technological change its types entrepreneurs-hip Senior Secondary  Analytical Skills can have in the and technology) a. Lead discussion to Schools(Cole Esan Ande); production of goods 2. Describe the brainstorm on the 5th Edition, 2017  Digital Skills and services and factors of 3. Production meaning of production economic growth production Possibility Curve/ and its types Comprehensive Economics  Research and Problem Frontier for Senior Secondary School Solving skills 3. Derive the b. Facilitate the (Johnson U. Anyaele, 1997) production 4. Concept of division discussion that will ASSESSMENT possibility curve of labor, lead learners to identify www.khanacademy.com STRATEGIES to be used specialization and the factors of production to check competencies 4. Explain the law of diminishing and their importance and www.guardia,com ( Select relevant option): relationship returns corresponding between remunerations www.economist.com  Presentation technology Land – rent  Individual change and Labor-wages/salary www.investopedia.com  group economic Capital –Interest growth Entrepreneurship -profit www.economic.ejournal.org  Written Assignment  Individual 5. Discuss division c. Ask learners to research www.dictionary.com of labor, the production,  Group Page 6 concept of specialization and the specialization law of diminishing and the law of returns  Quiz diminishing  Individual returns d. Assign learners to  Presentation derive the production possibility curve of a  Written Test hypothetical firm  Test producing two goods to determine the following; - Attainable region - Unattainable region - Full employment - Underutilization of resources Page 7  SEMESTER TWO GRADE: 10 PERIOD: IV TOPIC: THE THEORY OF CONSUMER BEHAVIOR OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are able to Upon completion of this 1. The concept of Inclusive & A. Primary Text: EXPECTED analyze and topic, learners will: utility Differentiated Stanlake’s Economics COMPETENCIES: appreciate the  Total and marginal Learning By S.J. Grant 8th concept of consumer 1. Explain the utility Individual seat edition  Effective behavior and Concepts of Utility works or work in demonstrate how  Utility mixed groups B. Secondary Text: Communication utility works 2. Discuss the Laws of maximization according to gender, Essential Economics for  Analytical Skills, according to the laws Diminishing abilities and Senior Secondary  The laws of  Digital Skills, of supply and Marginal Utility learning styles Schools(Cole Esan diminishing utility demand. (DMU) Ande); 5th Edition, 2017  Research and Problem a. Lead learners to Comprehensive Economics Solving skills 2. The relationship 3. Demonstrate the discuss definition for Senior Secondary between Total and Learners are able to relationship and concept of School (Johnson U. Marginal Utility demonstrate the between Total utility, utility Anyaele, 1997) ASSESSMENT ability to explain the Utility & Marginal maximization, STRATEGIES to be used 3. Application of indifferent curve, Utility total and to check competencies Marginal Utility budget line and marginal utility www.khanacademy.com ( Select relevant option): Theory consumer surplus 4. Cite examples to demonstrate the b. Form groups to www.guardia,com  Presentation 4. Indifference curve Marginal Utility discuss the  Individual and marginal rate Theory importance of www.economist.com substitution consumer  group 5. Draw and discuss behavior relative www.investopedia.com the graphs of 5. Characteristics of to the consumer  Written the indifference Assignment indifferent curve budget line and www.economic.ejournal.org Page 8  and consumer curve and budget the indifference www.dictionary.com  Individual budget line line curve.  Group 6. Illustrate the 6. The concept of c. Assign learners  Quiz concept of consumer surplus to use the consumer surplus hypothetical firm  Individual utility schedule to demonstrate the  Presentation concept of total and marginal  Written test utility, Consumer  Individual budget line and Consumer surplus Page 9  SEMESTER TWO GRADE: 10 PERIOD: V TOPIC: BASIC TOOLS OF ECONOMIC ANALYSIS OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT 1. Learners are able Upon completion of 1. Definition of Inclusive & Differentiated A. Primary Text: EXPECTED to demonstrate the this topic, learners basic Learning Stanlake’s Economics By COMPETENCIES: skills of will: economics Individual seat works or S.J. Grant 8th edition collecting, tools work in mixed groups  Effective interpreting and 1. Define basic Tables, charts according to gender, B. Secondary Text: Communication analyzing Economic tools and graphs abilities and learning styles Essential Economics for economic data and state their use Senior Secondary  Analytical Skills through and importance 2. Frequency a. Ask learners to Schools(Cole Esan Ande); percentage, ratios, distribution determine the usages and 5th Edition, 2017  Digital Skills tables, charts and 2. Construct a Line graph, importance of the basic graphical frequency histograms, tools of economic Comprehensive Economics  Research and Problem presentations Distribution Table bar charts, analysis for Senior Secondary Solving skills pie- charts, School (Johnson U. 2. Learners are able 3. Measurement of component b. Assume that you have Anyaele, 1977) ASSESSMENT to interpret social Central Tenancy - bar charts, interviewed a total of STRATEGIES to be used data Mean, Median and pictograms 100 teenage girls and www.khanacademy.com to check competencies Mode of any given boys in your community (Select relevant option) set of data 3. Measuremen about contraceptive use; www.guardia,com t of Central 25 girls reported that  Presentation Tenancy they have knowledge, www.economist.com  Individual Calculation of used contraceptives Arithmetic consistently, not www.investopedia.com  group Mean Median pregnant and in school. and Mode 10 have no knowledge, www.economic.ejournal.org  Written got pregnant and drop Assignment from school While 15 www.dictionary.com  Individual Have knowledge, got  Group pregnant and in school. Page 10  For the boys, 36 reported to have knowledge of  Quiz contraceptives use and  Individual have not impregnated  Presentation any girl. While 14 have no knowledge of the use  Written Test of contraceptives and its  Individual learner implications, and therefore have impregnated girls. Present your findings using pie chart/graph, and process information to show implication of data. c. Ask learners to present the ages of learners in class (data); calculate the mean, median and mode. Lead the process to show the implication of the data. Page 11  SEMESTER TWO GRADE: 10 PERIOD: VI TOPIC: TYPES OF BUSINESS ORGANIZATIONS OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are able Upon completion of this 1. Definition of: Inclusive & A. Primary Text: EXPECTED to demonstrate topic, learners will: Sole- proprietorship, Differentiated Learning Stanlake’s Economics COMPETENCIES: understanding of Define partnership & Individual seat works or By S.J. Grant 8th edition  Effective Communication how businesses 1. Sole-proprietorship, corporation, work in mixed groups are established Partnership, Joint-stock according to gender, B. Secondary Text:  Analytical Skills, and operated Corporation, Joint- companies, abilities, learning styles, Essential Economics for  Digital Skills, stock companies, cooperatives, etc, Senior Secondary cooperatives, Statutory corporation, a. Lead class discussion Schools(Cole Esan  Research and Problem Statutory and Joint- ventures on the various types of Ande); 5th Edition, 2017 Solving skills corporation, and businesses Joint- ventures b. Group learners to do Comprehensive Economics ASSESSMENT 2. Main features of : presentations on the for Senior Secondary School STRATEGIES to be used to 2. State the main Sole- proprietorship, advantages & (Johnson U. Anyaele, 1997) check competencies (Select features of Sole- Partnership & disadvantages of the relevant option) proprietorship, Corporation types of business Partnership, Joint-stock organizations. www.khanacademy.com  Presentation Corporation, Joint- companies,  Individual stock companies, cooperatives, c. Assign tasks to www.guardia,com  group cooperatives, Statutory corporation, individual learners to Statutory and Joint- ventures research the various www.economist.com  Written Assignment corporation, and sources of funding for Joint- ventures sole-proprietorship, www.investopedia.com  Individual partnership &  Group 3. Explain the corporation www.economic.ejournal.org advantages and  Quiz Page 12  disadvantages of 3. Advantages & Joint-stock companies, www.dictionary.com  Individual Sole-proprietorship, Disadvantages of: cooperatives, Statutory  Presentation Partnership and Sole- proprietorship, corporation, and Joint- Corporation Partnership & ventures  Written Test 4. Explain the sources Corporation and of capitals for Sole- Joint-stock d. Ask learners to proprietorship, companies, research the impact of Partnership, cooperatives, Privatization, Corporation, Joint- Statutory corporation, Commercialization stock companies, and Joint- ventures Indigenization and cooperatives, Nationalization Statutory 4. Sources of funding: policies on the corporation, and Sole- proprietorship, Liberian economy Joint- ventures Partnership & Corporation Joint-stock companies, cooperatives, Statutory corporation, and Joint- ventures 5. Business enterprise Policy on; Privatization, Commercialization Indigenization Nationalization Page 13  SEMESTER ONE GRADE: 11 PERIOD: 1 TOPIC: PRICE DETERMINATION OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are able Upon completion of this 1. Determination of Inclusive & A. Primary Text: EXPECTED to demonstrate topic, learners will: price by supply Differentiated Learning Stanlake’s Economics COMPETENCIES: understanding of and demand By S.J. Grant 8th edition  Effective market forces of 1. Identify and explain the Equilibrium price Individual seat works or Communication supply and interactions between and quantity, work in mixed group B. Secondary Text: demand. supply and demand in Shortage & according to gender, Essential Economics for  Analytical Skills, Analyze price determining the market Surplus abilities and learning Senior Secondary elasticity of price Changes in styles Schools(Cole Esan Ande);  Digital Skills, demand and Equilibrium 5th Edition, 2017 supply, and 2. Analyze the definitions a. Group learners to Comprehensive Economics  Research and determine how of elasticity of demand 2. Definition of: identify the following for Senior Secondary School Problem Solving changes in price and supply Price elasticity of terms and point out (Johnson U. Anyaele, 1997) skills will affect total demand and how each is different revenue. 3. Examine the price supply Income from the other: ASSESSMENT elasticity of demand elasticity and  Price elasticity of www.khanacademy.com STRATEGIES to be and determine whether Inelasticity Cross demand and supply used to check demand is elastic or price- elasticity  Income elasticity www.guardia,com competencies (Select inelastic. Inelasticity relevant option): 1. Calculation of :  Cross price- www.economist.com 4. Calculate the price Price elasticity of elasticity  Presentation elasticity of demand demand and supply; www.investopedia.com  Individual using information from Income elasticity of b. Pair learners to derive  Group a demand curve. demand and cross – the formula for www.economic.ejournal.org elasticity Elasticity and use  Written 5. Analyze how changes available data to www.dictionary.com Assignment in the price of a good calculate the following affect total revenue and  Individual and present to the  Group total expenditure. class: Page 14 6. Compare cross-price 2. Calculation of:  Price elasticity of elasticity of demand Price elasticity of demand & supply  Quiz and income elasticity of demand and total  Income elasticity  Individual demand. revenue  Income Inelasticity  Presentation  Cross price- 7. Discuss the price 3. Price elasticity of elasticity  Written Test elasticity of supply supply and total revenue c. Pair learners to 8. Calculate the price calculate the elasticity elasticity of supply 4. Determinants of of a good based on its using information from price elasticity of determinants a supply curve. demand and supply d. Ask individual learners to visit a local business center to investigate revenue (sales) and profit Page 15  SEMESTER ONE GRADE: 11 PERIOD: 11 TOPIC: MARKETS STRUCTURES OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are Upon completion of 1. Definitions & Inclusive & Differentiated A. Primary Text: EXPECTED able to describe this topic: learners will: Features of market Learning Stanlake’s Economics COMPETENCIES the various types types: Individual seat works or By S.J. Grant 8th edition of markets and 1. Explain the concept a. Perfect Market & work in mixed groups  Effective Communication demonstrate of market and imperfect market according to gender, B. Secondary Text:  Analytical Skills, how prices and distinguish it from b. Monopolistic abilities and learning Essential Economics for Senior Secondary  Digital Skills, total revenue are the market place market styles determined in c. Oligopoly market Schools(Cole Esan  Research and Problem those markets. 2. Distinguish a. Group learners to Ande); 5th Edition, 2017 Solving skills between perfect 2. Advantages & research the features of Comprehensive Economics ASSESSMENT and impact markets Disadvantages of various market for Senior Secondary School STRATEGIES to be used to market types: structures. (Johnson U. Anyaele, 1997) check competencies (Select 3. Compare and Perfect competitive contrast perfect market, monopoly and b. Pair learners into teams relevant option) competitive and oligopoly markets to discuss and  Presentation monopolistic illustrate advantages  Individual www.khanacademy.com markets 3. Comparison and and disadvantages of  group contrast of Perfect the types of market www.guardia,com  Written Assignment 4. Draw graphs to competitive market structures  Individual illustrate price and and www.economist.com quantity Monopolistic market c. Assign individual  Group determination learners tasks to www.investopedia.com  Quiz under Perfect 4. Graphic illustrations compare and contrast  Individual competition, of: Perfect competitive perfect competitive www.economic.ejournal.org monopoly and market and monopoly market and  Presentation oligopoly monopolistic market www.dictionary.com  Written Test Page 16  SEMESTER ONE GRADE: 11 PERIOD: 111 TOPIC: THE THEORY OF PRODUCTION AND DISTRIBUTION OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are able to Upon completion of this 1. The theory of Inclusive & A. Primary Text: EXPECTED demonstrate skills in topic, learners will: Production and Differentiated Stanlake’s Economics COMPETENCIES analyzing the Distribution: Learning By S.J. Grant 8th  Effective processes of 1. Explain the theory of Meaning of Individual seat works edition Communication production and production and production, types of or work in mixed distribution of goods distribution production, groups according to B. Secondary Text:  Analytical Skills, and services Classification of gender, abilities, Essential Economics 2. Distinguish the goods and description learning styles, etc, for Senior Secondary  Digital Skills, various types of of the concept of Schools(Cole Esan production wealth in Liberia a. Lead discussions Ande); 5th Edition,  Research and Problem on the 2017 Solving skills 3. Determine the types 2. Differentiation of: classification of of goods and wealth a. firm goods and services, Comprehensive Economics ASSESSMENT and understanding for Senior Secondary STRATEGIES to be used b. plant 4. Contrast firms, plant of the concepts of School (Johnson U. to check competencies and industry c. industry wealth in Liberian Anyaele, 1997) (Select relevant option) setting. d. Fixed inputs 5. Distinguish fixed and  Presentation variable inputs e. Variable inputs b. Form groups to www.khanacademy.com  Individual find distinguishing  group 6. Categorize the 3. Exploration of the features of firm, www.guardia,com channels of distinguishing features plant and industry  Written distribution and their of: www.economist.com Assignment functions (producer, a. Producer c. Form pairs of wholesaler & learners to www.investopedia.com retailer) b. Wholesaler  Individual distinguish c. Retailer between Fixed  Group Page 17 7. Discuss the problems 4. Relating the concepts inputs and Variable www.economic.ejournal.org  Quiz of Distribution and of producer, inputs;  Individual Marketing of wholesaler, retail and www.dictionary.com  Presentation Commodities in marketing practices in d. Individual learners Liberia Liberia to distinguish  Written Test among Producer, wholesaler and retailer Page 18  SEMESTER TWO GRADE: 11 PERIOD: IV TOPIC: POPULATION AND LABOR MARKET OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are Upon completion of 1. Definition of: Inclusive & Differentiated A. Primary Text: EXPECTED able to analyze this topic, learners a. Population Learning Stanlake’s Economics COMPETENCIES population will: b. Population census Individual seat works or By S.J. Grant 8th edition dynamics and its work in mixed groups  Effective influence on 1. Define population 2. Types of population according to gender, Communication economic and discuss the census: abilities and learning styles B. Secondary Text:  Analytical Skills, growth and factors that a. De facto population Essential Economics development. influence census a. Lead discussion on the for Senior Secondary  Digital Skills, population b. De jure Population meaning of population Schools(Cole Esan dynamics census Ande); 5th Edition,  Research and and population census. Problem Solving 2017 2. Describe 3. Importance of population skills population size census b. Group learners to outline Comprehensive Economics and its the types of population for Senior Secondary School ASSESSMENT implication on the 4. Characteristics and census according to the (Johnson U. Anyaele, 1997) STRATEGIES to be economy problems associated with used to check given features population census competencies (Select 3. State and critique www.khanacademy.com relevant option) c. Individual learners assign the Malthusian 5. Determinants of task to do head count of theory of population size and www.guardia,com  Presentation family members by population growth:  Individual gender and age a. Birth rate distribution as well as www.economist.com  group 4. Analyze the links determine dependence b. Death rate  Written between age and those of working www.investopedia.com population and c. Migration age. Assignment the labor market www.economic.ejournal.org 6. Calculation of population  Individual density  Group Page 19 5. Explain 7. Malthusian theory of d. Pair learners to respond www.dictionary.com population population growth to the following  Quiz census, types of questions: “what will  Individual population 8. Geographical happen to the labor force  Presentation census, distribution, age, sex and that is making significant importance and occupation distribution contribution to national  Written Test problems of population development, if they are struck with pandemic 9. Optimum population, such as HIV/ AIDS or under – population and others diseases”. over- population. Hint: Give the social economic and development impact it has on the country, say Liberia. Page 20  SEMESTER TWO GRADE: 11 PERIOD: V TOPIC: THEORY OF COST AND REVENUE OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are Upon completion 1. Definitions of Cost Inclusive & Differentiated Primary Text: EXPECTED able to of this topic, & Revenue Learning Stanlake’s Economics COMPETENCIES analyze the learners will: Individual seat works or work By S.J. Grant 8th edition reasons a. Cost of Production & in mixed groups according to  Effective Revenue Communication business firms 1. Demonstrate gender, abilities, learning Secondary Text: make understanding b. Economist’s and styles, etc,: Essential Economics for decisions on of the meaning Accountant’s view of Senior Secondary  Analytical Skills, production, of costs and cost Lead discussion to brainstorm on Schools(Cole Esan Ande); profit and revenue the definitions of cost and 5th Edition, 2017  Digital Skills, losses. c. Explicit & Implicit revenue 2. Distinguish cost a. Group learners to Comprehensive Economics  Research and Problem between the demonstrate the cost of for Senior Secondary School Solving skills various cost 2. Cost Concepts: production & revenue (Johnson U. Anyaele, 1997) concepts a. Fixed ,Variable concepts ASSESSMENT & Marginal cost www.khanacademy.com STRATEGIES to be used 3. Analyze b. Group learners to debate to check competencies different costs b. Average & Total using the concepts of www.guardia,com (Select relevant option) and revenue cost opportunity cost to discuss curves the effects of early marriage www.economist.com  Presentation c. Short run & Long  Individual as against the benefit of run cost  group 4. Calculate costs Education relative to social www.investopedia.com and revenue and economic development 3. Derivation of cost & of the individual. Cite www.economic.ejournal.org  Written Revenue curves regions or sections that are Assignment a. Cost tables www.dictionary.com Page 21 b. Cost curves still practicing early  Individual c. Calculations of marriage in Liberia.  Group Hint: Girls vs Boys cost & Revenue  Quiz c. Group learners to formulate hypothetical firm cost  Individual schedule to calculate;  Presentation Average cost variable cost, marginal cost, total fixed  Written Test cost, total variable cost, and total average cost. Page 22  SEMESTER TWO GRADE: 11 PERIOD: VI TOPIC: THE ROLE OF AGRICULTURE IN ECONOMIC DEVELOPMENT OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are Upon completion of this 1. Agriculture Inclusive & C. Primary Text: EXPECTED able to analyze topic, learners will: products in Differentiated Learning Stanlake’s Economics COMPETENCIES and appreciate Liberia/ W. Africa Individual seat works or By S.J. Grant 8th edition  Effective the role and 1. Identify and discuss the a. Cash crops work in mixed groups Communication importance of major agriculture b. Food crops according to gender, D. Secondary Text:  Analytical Skills, agriculture in products in Liberia and abilities, learning styles, Essential Economics for social economic West African c. Live stock etc, Senior Secondary  Digital Skills, development of Countries, and major d. Fisheries Schools(Cole Esan  Research and Problem a nation export and import a. Lead learners to Ande); 5th Edition, 2017 Solving skills products /crops brainstorm and 2. Challenges of ASSESSMENT discuss the Comprehensive Economics Agriculture STRATEGIES to be used 2. Analyze the factors that importance of for Senior Secondary School production in to check competencies hamper the agriculture agriculture to (Johnson U. Anyaele, 1997) Liberia/ West (Select relevant option) sector in Liberia and national Africa. elsewhere in West development.- check a. Land  Presentation Africa for participation and www.khanacademy.com  Individual b. Subsidy inclusiveness on the 3. Explain the importance part of the students www.guardia,com  Group c. Storage of agriculture products  Written Assignment to economic d. Education b. Ask learners to www.economist.com development using discuss the  Individual Liberia as a case e. Infrastructure challenges faced in www.investopedia.com  Group ( Roads) the Agriculture sector  Quiz 4. Formulate f. Technology of Liberia and www.economic.ejournal.org recommendations that recommend how  Individual will enhance these challenges can www.dictionary.com  Presentation government agriculture be alleviated. policies.  Written Test Page 23  SEMESTER ONE GRADE: 12 PERIOD: 1 TOPIC: ECONOMIC DEVELOPMENT AND PLANNING (THE LIBERIAN ECONOMY) OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are able Upon completion of this 1. Overview of the Inclusive & Differentiated Primary Text: EXPECTED to demonstrate the topic, learners will concepts of Learning Stanlake’s Economics COMPETENCIES concept of Economic Individual seat works or By S.J. Grant 8th edition  Effective economic 1. Explain the concept Development and work in mixed groups Communication development and of Economic Planning; Economic according to gender, Secondary Text: appreciate the Development and Growth and abilities and learning Essential Economics for  Analytical Skills, important role Planning Economic styles Senior Secondary planning plays in Development Schools(Cole Esan Ande);  Digital Skills, the development 2. Distinguish between a. Lead learners to discuss 5th Edition, 2017 of a nation. Economic growth and 2. Features of Economic  Research and Economic underdeveloped, Development and Comprehensive Economics Problem Solving Development developing and Planning; Economic for Senior Secondary School skills developed economy Growth and Economic (Johnson U. Anyaele, 1997) 3. Explain the features Development ASSESSMENT of underdeveloped, 3. Concept of Liberian STRATEGIES to be b. Ask learners to research developing and Traditional www.khanacademy.com used to check and chart the features developed economy Economy competencies (Select of underdeveloped, www.guardia,com relevant option) developing and 4. Analyze the concept 4. Factors which developed economy of Liberian influence economic www.economist.com  Presentation Traditional Economy development in c. Group learners to  Individual Liberia and West research and debate the www.investopedia.com  group 5. Determine the factors African Countries Concept of Liberian which influence Traditional Economy www.economic.ejournal.org  Written economic Assignment development in d. Pair learners to research www.dictionary.com  Individual the factors which  Group Page 24 Liberia and West influence economic  Quiz African Countries development in Liberia and West African  Individual Countries and propose Presentation recommendations  Written Test Page 25  SEMESTER ONE GRADE: 12 PERIOD: 11 TOPIC: INDUSTRIALIZATION OF THE LIBERIAN ECONOMY AND CONCEPTS OF NATIONAL INCOME OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ RESOURCES COMPETENCIES/ ASSESSMENT Learners are able to Upon completion of this 1. Meaning of : Inclusive & Differentiated A. Primary Text: Stanlake’s EXPECTED determine how topic, learners will: Learning Economics By S.J. Grant COMPETENCIES decisions made by a. Industrialization Individual seat works or 8th edition policy makers can 1. Analyze the concept b. Industrialization work in mixed groups  Effective influence economic of industrialization policies according to gender, B. Secondary Text: development and and discuss how it is c. Localization of abilities and learning  Essential Economics for Communication growth of a country. related to Liberia’s industries styles Senior Secondary economic Schools(Cole Esan Ande);  Analytical Skills, development 2. Role of a. Group learners to 5th Edition, 2017 Industrialization research and debate  Digital Skills, 2. Analyze the process in economic industrialization in the  Comprehensive Economics involved in development context of Liberia and for Senior Secondary  Research and industrialization a. Optimum other countries in West School (Johnson U. Problem Solving Utilization of Africa. Anyaele, 1997) skills 3. Determine measures Scarce Resources of the country b. Organize a field trip https://www.investopedia.com ASSESSMENT economic activities b. Provision of with learners to an STRATEGIES to be used Machinery to industrial site and allow https://www.ukessays.com to check competencies 4. Outline the methods increase learners to observe the (Select relevant option) used to calculate Agriculture processes of www.khanacademy.com economic activities productivity production and  Presentation in the economy distribution and www.guardia,com  Individual 3. Measuring present report on their  Group 5. Discuss the national income findings. www.economist.com limitations/pitfalls of of a country’s  Written calculating national economy: c. Facilitate discussions www.investopedia.com Assignment income that will enable learners  Individual Page 26 Suggest policy options a. GNP, NNP GDP to explore the meaning www.economic.ejournal.org  Group that could improve the per capita and importance of economy of Liberia. National Income. www.dictionary.com  Report Writing b. Uses of national  Individual income statistics d. Pair learners to research  Group and determine the c. Circular flow methods and measures  Quiz diagram of of calculation of  Individual income and National Income.  Presentation expenditure e. Pair learners to research  Written Test d. Methods of and determine the calculating limitations of National national income Income. e. Advantages and f. Group learners to limitations of identify major GNP , Per Capita development projects Income, finance by national calculation income to compare government expenditure on each project and how these projects have impacted the lives of Liberians. g. Group assignment: Demonstrate linkages of the different actors in the economy- Circular Flow Diagram Page 27  SEMESTER ONE GRADE: 12 PERIOD: 111 TOPIC: MONEY, BANKING AND THE FINANCIAL INSTITUTIONS OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are Upon completion of 1. Money: Inclusive & A. Primary Text: Stanlake’s EXPECTED able to this topic, learners Differentiated Learning Economics By S.J. Grant COMPETENCIES determine the will: a. Definition and Individual seat works or 8th edition importance of origin work in mixed groups  Effective Communication money and the 1. Analyze and (development according to gender, B. Secondary Text: of)  Analytical Skills, role banking discuss the abilities, learning styles,  Essential Economics for institutions origin, meaning, b. Characteristics etc, Senior Secondary  Digital Skills, play in the functions and Schools(Cole Esan Ande); and functions  Research and Problem economy types of money. a. Lead learners to 5th Edition, 2017 brainstorm and Solving skills c. Value for money 2. Catalogue and and price discuss the definition,  Comprehensive discuss the origin, characteristics, ASSESSMENT Economics for Senior characteristics of 2. Functions of and the functions of STRATEGIES to be used to Secondary School check competencies (Select money. Banks/financial money (Johnson U. Anyaele, Institution: relevant option) 1997) 3. Analyze the types a. Central Bank b. Group learners to and functions of research the following:  Presentation https://www.investopedia.com banks and other b. Commercial  Central Bank,  a.. Individual Banks  group financial https://www.ukessays.com institutions  Commercial Banks, c. Merchant Banks  Merchant Banks, www.khanacademy.com  Written Assignment 4. Catalogue and d. Development discuss inflation, Banks  Development www.guardia,com  Individual types, causes and Banks,  Group e. Saving Banks Page 28  how it can be  Saving Banks, www.economist.com  Quiz f. Insurance controlled  Individual companies  Insurance www.investopedia.com  Presentation 5. Demonstrate the companies and g. Building Building societies relations between societies c. Organize learners into www.economic.ejournal.org  Written Test inflation and unemployment two groups to debate www.dictionary.com 3. Definition: the merits and a. Inflation demerits of inflation b. Unemployment and unemployment in the economy 4. Types of inflation and d. Pair learners to unemployment research and discuss a. Demand pull the following;  Demand pull b. Cost push inflation  Cost push inflation c. Structural unemployment  Structural unemployment d. Cyclical unemployment  Cyclical unemployment e. Frictional unemployment  Frictional unemployment Page 29  SEMESTER TWO GRADE: 12 PERIOD: IV TOPIC: INTERNATIONAL TRADE AND BALANCE OF PAYMENTS OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners can Upon completion of 1. Definition: Inclusive & A. Primary Text: EXPECTED utilize their this topic: learners  International Trade Differentiated Stanlake’s Economics COMPETENCIES skills and will be able to: Learning By S.J. Grant 8th knowledge to  Domestic Trade Individual seat works Edition  Effective Communication analyze the 1. Discuss the term  Regional Trade or work in mixed B. Secondary Text: effects of “International groups according to  Essential Economics for policies on Trade”  Terms of Trade gender, abilities,  Analytical Skills, Senior Secondary international  Balance of Trade learning styles, etc, Schools(Cole Esan trade and its 2. Elaborate on an  Digital Skills, Ande); 5th Edition, 2017 benefits to the acceptable 2. Features / Reasons a. Group learners to economic reasons for trade for International discuss  Comprehensive  Research and development between nations Trade:  International Trade Economics for Senior Problem Solving of the nation Secondary School skills 3. Determine and 3. Differences between  Domestic Trade (Johnson U. Anyaele, discuss factors domestic &  Regional Trade 1997) ASSESSMENT that are involved International trade STRATEGIES to be in international  Terms of Trade used to check www.khanacademy.com trade 4. The law of competencies (Select  Balance of Trade comparative cost relevant option) www.guardia,com 4. Analyze the  Free Trade & reasons for the protection b. Pair learners to www.economist.com  Presentation variance in (UNCTAD) research the  Individual currencies following:  group  Law of www.investopedia.com among countries comparative &  Importance of international trade Page 30 5. Discuss the Absolute in relationship to www.economic.ejournal.org  Written concept of Advantage the development of Assignment “Legal tender” 5. Balance of the country www.dictionary.com Payments (BOP)  Individual  Advantages and  Group  The use of disadvantages of foreign currency international trade  Quiz  Disequilibrium/  Comparative and  Individual Adjustment absolute advantage  Presentation of international  Connecting trade  Written Test balance of payments  Devaluation & Depreciation of currency  Balance of Payment deficit & surplus Page 31  SEMESTER TWO GRADE: 12 PERIOD: V TOPIC: PUBLIC FINANCE AND INTERNATIONAL ORGANIZATIONS OUTCOMES OBJECTIVES CONTENTS ACTIVITIES MATERIALS/ COMPETENCIES/ RESOURCES ASSESSMENT Learners are able to Upon completion of 1. Meaning of Public Inclusive & Differentiated A. Primary Text: EXPECTED explain this topic, learners finance : Learning Stanlake’s Economics COMPETENCIES government fiscal will: Individual seat works or By S.J. Grant 8th edition  Effective policy and  Fiscal policy & work in mixed groups Communication appreciate how it is 1. Determine what its objectives according to gender, B. Secondary Text: use to provide public finance is abilities, learning styles, etc,  Essential Economics for  Analytical Skills, better services that and how it is  Sources of Senior Secondary improve the important to Government a. Group learners to Schools(Cole Esan  Digital Skills, livelihood of the public Revenue discuss the meaning of Ande); 5th Edition, 2017 citizenry. expenditure (Taxation) public finance and  Research and Problem its objectives  Comprehensive Solving skills 2. Explain  Economic Economics for Senior government Effect of b. Assign small groups of Secondary School ASSESSMENT fiscal measures taxation learners to business (Johnson U. Anyaele, STRATEGIES to be used to (taxation and institutions that 1997) check competencies (Select expenditure) 2. Types of taxes generate reven