Holdet 2022 Ec-HL - Undervisningsbeskrivelse

menu

Undervisningsbeskrivelse

Stamoplysninger til brug ved prøver til gymnasiale uddannelser
Termin(er) 2023/24 - 2024/25
Institution Herlufsholm Skole
Fag og niveau Erhvervsøkonomi -
Lærer(e)
Hold 2022 Ec-HL (2i Ec-HL, 3i Ec-HL)

Oversigt over gennemførte undervisningsforløb
Titel 1 The foundations of economics
Titel 2 Competitive markets: Demand & Supply
Titel 3 Elasticities
Titel 4 Government intervention
Titel 5 Revision and mock exam
Titel 6 Market failure and undesirable outcome for society
Titel 7 Market failures - part II
Titel 8 Overall economic activity
Titel 9 Market power and competition (HL only)
Titel 10 Aggregate demand and aggregate supply
Titel 11 Macroeconomic objectives - I
Titel 12 Macroeconomic objectives - II
Titel 13 Demand - and supply-side policies
Titel 14 International trade
Titel 15 Trade protection
Titel 16 Exchange rates and Balance of payments
Titel 17 Understanding economic development

Beskrivelse af de enkelte undervisningsforløb (1 skema for hvert forløb)
Titel 1 The foundations of economics

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 1 - 39

The foundations of economics where the students understand:

- The key concepts of scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence, intervention
- The factors of production
- Free and economic goods
- What / How / for whom to produce
- Economic systems
- The PPC model
- The circular flow of income model
- Positive and normative economics
- A history of economic thought

TOK: What is fair in economic distribution?

-----

ATL Skills:

- Thinking: What is a fair distribution? Why do we use models and theories in economics? What is an assumption?
- Communication: How to create a good explanation
- Research: How to use perplexity.ai
- Self-management: How to make notes
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks with explanation questions.
Indhold
Kernestof:
Omfang Estimeret: 8,00 moduler
Dækker over: 8 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 2 Competitive markets: Demand & Supply

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 40 - 83

The competitive markets: demand & supply where the students understand:

- The nature of a competitive market
- The laws of demand and supply
- Price and non-price determinants of demand and supply and the underlying assumptions hereof
- Law of diminishing marginal returns
- Market equilibrium
- The functions of the price mechanism
- Allocative efficiency
- Consumer and producer surplus
- Critique of maximizing consumer and producer behaviour (HL only)

TOK: What constitutes a maximization of social welfare?

-----

ATL Skills:

- Thinking: Mathematical calculations of surpluses
- Communication: How diagrams can help understanding economic adjustments
- Research:
- Self-management:
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 14,00 moduler
Dækker over: 10 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 3 Elasticities

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 83 - 110

Elasticities where the students understand:

- Price elasticity of demand (PED)
- Calculating PED
- Determinants of PED and necessities vs luxuries
- Income elasticity of demand (YED)
- Sectoral structures of the economy
- Price elasticity of supply (PES)
- Calculating PES
- Determinants of PES in the short- and long-run

TOK: If PED is perfectly inelastic for certain medicines, should these be provided for free?

-----

ATL Skills:

- Thinking: Why are primary products more inelastic than goods produced in the secondary sector and what does this mean for poverty in LEDCs?
- Communication:
- Research:
- Self-management:
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 12,00 moduler
Dækker over: 14 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 4 Government intervention

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 112 - 142

- Why governments intervene in markets
- Price ceilings: setting a maximum price
- Price floors: setting a minimum price
- Consequences of price controls on various stakeholders
- Indirect taxes and impact on stakeholders
- Subsidies and impact on stakeholders
- Calculating the effects of price controls, indirect taxes and subsidies (HL only)

TOK: To what extent can good intentions to bad outcomes?

-----

ATL Skills:

- Thinking: Why does the free market lead to externalities?
- Communication: Class discussions and class presentations
- Research:
- Self-management: Task on calculations
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 12,00 moduler
Dækker over: 12 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 5 Revision and mock exam

Practice of quantitative calculations
Indhold
Omfang Estimeret: Ikke angivet
Dækker over: 2 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 6 Market failure and undesirable outcome for society

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 147 - 172

- Sometimes (often) the free market fails in achieving outcomes that are deemed good for society.
- Some actions by firms and consumers may actually have a negative impact on other and the environment.
- Government interventions can help the markets to overcome these negative externalities.

TOK: How can we determine whether a product is good for society? What role does individual value-preferences play?

-----

ATL Skills:

- Thinking: Why do invidual preferences lead to lost opportunities for others?
- Communication: Written individual responses. Class discussions and class presentations
- Research: Finding relevant empirical evidence for the assignments
- Self-management: Structure time and effort in research tasks
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 10,00 moduler
Dækker over: 8 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 7 Market failures - part II

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 174 - 207

- Market failures and government intervention with a focus on positive externalities, public goods, asymmetric information and the inability to achieve equity.

TOK: How can social surplus be maximized when economic inequality is rising?

-----

ATL Skills:

- Thinking: How can your consumption of a good be beneficial to your neighbors?
- Communication: Written individual responses. Class discussions and class presentations
- Research: Finding relevant empirical evidence for the assignments
- Self-management: Structure time and effort in research tasks
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 8,00 moduler
Dækker over: 16 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 8 Overall economic activity

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 271 - 280

How do we measure an economy's total output and income?
What role does the tax system play in growing an economy?
What is the business cycle?
And are there other ways to measure economic well-being?

TOK: Can we determine the factors that lead to happiness?

-----

ATL Skills:

- Thinking: How can data help us to understand the dynalics of an economy? What about the variables that cannot be counted?
- Communication: Calculations on nominal and real GDP, GDP per capita PPP and the difference from GNI. Written individual responses. Class discussions and class presentations
- Research: Finding relevant empirical evidence for the assignments
- Self-management: Structure time and effort in research tasks
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 8,00 moduler
Dækker over: 8 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 9 Market power and competition (HL only)

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 271 - 364

- How do firms compete?
- Some firms are very dominating in their markets, e.g. Microsoft while others are not, e.g. Sibel Pizza.
- How does this power affect profitability and allocative & productive efficiencies?
- How are consumers affected?

TOK: Does the size of a firm affect the social benefits to society?

-----

ATL Skills:

- Thinking: How does the market structure affect the profitability of firms?
- Communication: Written individual responses. Class discussions and class presentations
- Research: Finding relevant empirical evidence for the assignments
- Self-management: Structure time and effort in research tasks
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 20,00 moduler
Dækker over: 39 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 10 Aggregate demand and aggregate supply

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 281 - 305

- The aggregate demand-aggregate supply (AD-AS) model of the macroeconomy
- Output fluctuations
- Changes in price level (inflation),
- Unemployment and economic growth

TOK: What role do economist's viewpoints and belief-systems have on the policy recommendation?

-----

ATL Skills:

- Thinking: Why did Keynes state that: In the long-run we are all dead?
- Communication: Written individual responses. Class discussions and class presentations
- Research: Finding relevant empirical evidence for the assignments
- Self-management: Structure time and effort in research tasks
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 8,00 moduler
Dækker over: 7 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 11 Macroeconomic objectives - I

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 305 - 315

- Objectives in an economy such as low unemployment and a stable inflation rate and their relation to achieving potential output.
- What problems are there with calculating consumer price indexes?
- Why is it a bad thing if prices begin to fall in an economy?
- Why can some unemployment be really difficult to eradicate?

TOK: Is it more important to provide price stability or make sure that people have a job?

-----

ATL Skills:

- Thinking: What is natural about the 'natural' rate of unemployment?
- Communication: Written individual responses. Class discussions and class presentations. Calculations on inflation rates and unemployment.
- Research: Finding relevant empirical evidence for the assignments
- Self-management: Structure time and effort in research tasks
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 12,00 moduler
Dækker over: 2 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 12 Macroeconomic objectives - II

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 315 - 364

- The other two important macroeconomic objectives; economic growth and sustainable debt levels.
- Is it a problem that governments take on debt?

TOK: Is all economic growth a positive thing?

Suppl. material:

-----

ATL Skills:

- Thinking: How can we ensure that the economic growth is sustainable and equitable?
- Communication: Calculations on economic growth. Written individual responses. Class discussions and class presentations
- Research: Finding relevant empirical evidence for the assignments
- Self-management: Structure time and effort in research tasks
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 8,00 moduler
Dækker over: 22 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 13 Demand - and supply-side policies

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 387 - 406

- Governments around thee world have different policies that can be applied to achieve the macroeconomic objectives, among these are fiscal - and monetary policies.

TOK: What is money?

-----

ATL Skills:

- Thinking: Why can too much money in an economy be a problem?
- Communication: Class discussions and class presentations
- Research:
- Self-management: Task on calculations
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 8,00 moduler
Dækker over: 4 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 14 International trade

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 387 - 406

- Theories about trade and how we benefit from this.
- The link to aggregate demand (AD) as a key component in the form of Net exports (X -M).
- Advantages from international trade are many but some frictions and conflicts can arise as well.

TOK: Why is interdependence a positive element in global economics?

----

ATL Skills:

- Thinking: Is all trade good?
- Communication: Class discussions and class presentations
- Research:
- Self-management: Task on calculations
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 7,00 moduler
Dækker over: 9 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 15 Trade protection

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 432 - 482

We will look at free trade vs. trade protection. This involves the impact on stakeholders through tariffs, import quotas, production subsidies and export subsidies.

TOK: Is there a moral aspect in the argument for trade?

----

ATL Skills:

- Thinking: Are inefficiencies acceptable when trade is restricted?
- Communication: Class discussions and class presentations
- Research:
- Self-management: Task on calculations
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 8,00 moduler
Dækker over: 24 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 16 Exchange rates and Balance of payments

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 482 - 571

- What is the monetary links between trading nations?
- How can exchange rates have both positive and negative impacts on the balance of payments and international financial flows?

TOK: Why are some money worth more than others?

----

ATL Skills:

- Thinking: What role do governments play in managing trade?
- Communication: Class discussions and class presentations
- Research:
- Self-management: Task on calculations
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 12,00 moduler
Dækker over: 30 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer

Titel 17 Understanding economic development

Key ressource:
Economics for the IB diploma, Tragakes, 3rd edition, p. 594 - 611

- The relationship between economic growth and economic development.
- How can we  best measure the economic development in its many dimensions?

TOK: What is fairness?

----

ATL Skills:

- Thinking: Can the WTO effectively manage international trade?
- Communication: Class discussions and class presentations
- Research:
- Self-management: Task on calculations
- Social: Collaborative work in groups

Assessment: Summative quizzes and formative tasks based on assessment criteria
Indhold
Kernestof:
Omfang Estimeret: 6,00 moduler
Dækker over: 16 moduler
Særlige fokuspunkter
Væsentligste arbejdsformer