Economics Standard Level Teaching Schedule 200809

Mings Class
Date

Content1

Reading2
Class notes at

Assignments and
Due Dates

http://www.geocities.com
/kokminglee

Cycle 2 &
3

Cycle 4 &
5

Section 1: Introduction to
Economics
Introduction to the course and
assessment
Distribution of books
Basic IT skills needed for
Economics eg. Drawing
diagrams
Basic concepts of economics:
Scarcity, Choice and
Opportunity Cost
Scope and Method
Intro to development
economics
Three basic questions
Factors of production
Production Possibility Frontier
Introduction to the different
economic systems
Transition economies (using
China as an example)

AG p2-12
EE p2-20, p23-26,
p34-35, p44-49
MP ch1-2, ch3
(p51-56)
S ch1-4

Section 2: Microeconomics
2.1 Markets
The market system: Demand
and Supply
Movement along the curve and
shift of the curve
The Price Mechanism (Market
Success)

AG p16-32
EE p54-68, p8082
MP ch4 (p73-92)
S p154-169

Price controls and its

application

AG p33-40
EE p118-120,
p124-126
MP ch6

Introduction to commentary
writing
2.2 Elasticities
Elasticities: Demand, Supply,
Income & cross elasticities
1
2

AG p69-80
EE p34-40
Class notes on
* Introduction to
economics
* Economic
systems
* Production
Possibility
Frontier

Class notes on
* Market
Structure
* Supply &
Demand +
Analysis

AG p84-106
EE p92-107
MP ch5
S p170-180

Trial commentary

Please refer to the syllabus for a detailed description of the topics

AG: Alan Glanville Economics from a global perspective
EE: Maunder & Myers Economics Explained
MP: Michael Parking Economics
S: Stanlake Introductory Economics

Class notes on
*Elasticity
*CPED & YED
Application of elasticities
Incidence indirect taxes &
subsidies

Nov 1

China Week

Cycle 6 &
7

Market Failures
Externalities
Public Good
Abuse of monopoly power
Possible government responses

Cycle 8 &
9

Continuing with government

responses to market failure
3.6 Income distribution

Cycle 9
11

Section 3: Macroeconomics
Introduction to
macroeconomics
3.1 Measuring National Income
National Income Accounting &
Circular Income flow model

Jan 26-28
Cycle 12

Lunar New Year Holiday

3.2 Introduction to development
Definitions of economic growth
and development
Benefits and costs of economic
growth

Cycle 13 &
Special
Cycle

Business cycles

Mar 10 18
Cycle 13

Special Program and Project

Week
3.3 AD-AS model
3.4 Demand-side policies

AG p107-108
AG p109-117
EE p122-123
MP p549-550
Class notes on
*Incidence of Tax
AG p45-66
EE p84-86;p157164
MP ch 19
MP ch 21 (p559,
562-574)
Class notes on
*Cost benefit
analysis
*Market failure
*Government
response
Class notes on
*Income
distribution

Provisional Test
on Nov 25 (Day 2)

AG p196-213
EE ch12-13
MP p591-597,
ch23
S ch17, ch 35
Class notes on
*Policy objectives
*National
accounting 1 & 2

Final version of 1st

Commentary by Jan 23
(Day 4)
Test on Feb 5
(Day 2)

Class notes on
*Development
*Economist:
Classical &
Keynes
Class notes on
*Business Cycle
*Business
Cycle:Project

Submit presentation
topic.
Development/Growth
or Business Cycle

First draft of 1st

commentary by
Jan 16 (Day 6)

Presentation
Starts

AG p220-240
EE ch 14
MP ch24
S ch31 (p449451)
Class notes on
*AS-AD model
*Fiscal Policy

Cycle 14

3.5 Unemployment and Inflation

Unemployment
Measurement
Types/causes
Costs
Brief solutions

Cycle 15 &
16

Inflation
Measurement
Types/causes
Costs
Brief solutions (excluding
quantity theory of money)
Supply-side Policy

*Monetary Policy
AG p247-259
EE ch11
MP ch22
S ch32
Class notes on
*Unemployment
AG p260-274
EE ch11
MP ch22
S ch33
Class notes on
*Inflation
*Supply-side
Policy
*Economist:
Friedman &
Keynesian

Provisional Test
on April 3(Day 2)

First draft of 2nd

commentary by
April 27 (Day 7)