Hellesdon High School

& Sixth Form Centre

Year 12

 

  Topic(s) Key content to be learned Assessment

Autumn Term

1.1 – Nature of economics

  • Economics as a social science
  • Positive and normative statements
  • The economic problem
  • Production possibility frontiers
  • Specialisation and the division of labour
  • Free market economies, mixed economies and command economies
  • Rational decision making
  • Diagnostic multiple choice quizzes to test knowledge
  • In-class assessment (verbal and written questions)
  • Homework (timed exam questions)

Written assessments (multiple choice questions, short answer questions, diagram manipulation and calculations)

1.2 –  How markets work

  • Demand and supply
  • Price, income and cross elasticities of demand
  • Price elasticity of supply
  • Price determination and the price mechanism
  • Consumer and producer surplus
  • Indirect taxes and subsidies
  • Alternative views of consumer behaviour

1.3 – Market failure

  • Types of market failure
  • Externalities
  • Public goods
  • Information gaps
1.4 - Government intervention
  • Government intervention in markets and government failure

Spring Term

 

2.1 – Measures of economic performance

 

  • Economic growth
  • Inflation
  • Employment and unemployment
  • Balance of payments
  • Diagnostic multiple choice quizzes to test knowledge
  • In-class assessment (verbal and written questions)
  • Homework (timed exam questions)

Written assessment (multiple choice questions, short answer questions, diagram manipulation and calculations)

2.2 - Aggregate demand
  • The characteristics of aggregate demand
  • Consumption
  • Investment
  • Government expenditure/spending
  • Net trade/net exports

2.3 - Aggregate supply

  • Short-run and long-run aggregate supply
2.4 - National income
  • National income
  • Injections and withdrawals from the circular flow of income
  • Equilibrium levels of real national output
  • The multiplier 
  2.5 - Economic growth
  • Output gaps
  • Trade/economic cycle
  • The causes and impacts of economic growth

Summer Term

 

2.6 –Macroeconomic objectives and policies

  • Possible macroeconomic objectives
  • Demand-side policies
  • Supply-side policies
  • Conflicts and trade-offs between objectives and policies
  • Diagnostic multiple choice quizzes to test knowledge
  • In-class assessment (verbal and written questions)
  • Homework (timed exam questions)

Progress exams (papers 1 and 2)

4.1.7 – Balance of payments

  • Balance of payments

4.1.8 – Exchange rates

  • Exchange rates

4.1.9 – International competitiveness

  • International competitiveness

4.4 – The financial sector

  • Role of financial markets
  • Market failure in the financial sector
  • Role of central banks