Grade 11 Economics

Students will define economics and analyze how scarcity forces choices on individuals and societies.

Students will identify opportunity costs in various decisions and explain the concept of trade-offs.

Students will apply marginal analysis to decision-making, understanding how rational individuals weigh marginal benefits against marginal costs.

Students will construct and interpret Production Possibilities Frontiers to illustrate scarcity, efficiency, and economic growth.

Students will compare and contrast command and market economic systems based on how they answer the three basic economic questions.

Students will examine the characteristics of mixed economies, including the role of government intervention and private enterprise.

Students will identify and discuss the primary economic goals of societies, such as efficiency, equity, stability, and growth.

Students will learn to interpret basic economic models and use data to draw conclusions about economic phenomena.

Students will define and illustrate the law of demand, explaining the inverse relationship between price and quantity demanded.

Students will identify and analyze the non-price factors that cause shifts in the entire demand curve.

Students will calculate and interpret price elasticity of demand, understanding its implications for revenue and policy.

Students will define and illustrate the law of supply, explaining the direct relationship between price and quantity supplied.

Students will identify and analyze the non-price factors that cause shifts in the entire supply curve.

Students will calculate and interpret price elasticity of supply, understanding its implications for producer response to price changes.

Students will analyze how supply and demand interact to determine equilibrium price and quantity in a market.

Students will analyze the impact of government-imposed price controls on market outcomes, including shortages and surpluses.

Students will examine how government taxes and subsidies affect market prices, quantities, and the distribution of economic burden.

Students will compare the characteristics, advantages, and disadvantages of sole proprietorships, partnerships, and corporations.

Students will analyze the characteristics and outcomes of perfectly competitive markets, including efficiency.

Students will examine the characteristics of monopolies, their pricing strategies, and the welfare implications of market power.

Students will explore monopolistic competition, focusing on product differentiation and non-price competition.

Students will investigate oligopolies, strategic interdependence, and basic game theory concepts like the prisoner's dilemma.

Students will analyze how the demand for and supply of labor interact to determine equilibrium wages and employment levels.

Students will investigate factors contributing to wage differentials, including education, skills, and discrimination.

Students will evaluate the historical and modern impact of collective bargaining on wages, working conditions, and the broader economy.

Students will discuss the economic implications of automation and artificial intelligence on labor markets and employment.

Students will differentiate between microeconomics and macroeconomics and identify key macroeconomic goals.

Students will define GDP, explain its components, and understand its limitations as a measure of economic well-being.

Students will identify the phases of the business cycle and discuss their impact on economic activity.

Students will define unemployment, differentiate between its types (frictional, structural, cyclical), and analyze its economic and social costs.

Students will analyze the causes of inflation (demand-pull, cost-push) and how it erodes purchasing power.

Students will examine the causes and consequences of deflation and stagflation, understanding their unique challenges to economic policy.

Students will examine how government uses spending and taxation to influence aggregate demand and stabilize the economy.

Students will understand the role of the central bank in managing the money supply and interest rates to achieve macroeconomic goals.

Students will use the AD-AS model to analyze macroeconomic equilibrium, economic fluctuations, and policy impacts.

Students will explore the determinants of long-run economic growth, including productivity, technology, and human capital.

Students will define financial literacy and set personal financial goals, understanding the importance of early planning.

Students will develop strategies for managing income and expenses, creating and adhering to a personal budget.

Students will understand the power of compound interest and explore different savings vehicles.

Students will analyze the benefits and risks of credit, understanding credit scores, and strategies for responsible debt management.

Students will explore different asset classes (stocks, bonds, mutual funds) and the relationship between risk and return.

Students will understand the importance of diversification in mitigating investment risk and basic portfolio construction.

Students will analyze the role of various types of insurance (health, auto, home, life) in protecting against financial loss.

Students will understand different types of taxes (income, sales, property) and their impact on personal income and financial planning.

Students will explore fundamental concepts of retirement planning, including different retirement accounts and long-term savings strategies.

Students will explore the reasons why nations engage in international trade and its general benefits.

Students will explain and apply the concepts of absolute and comparative advantage to understand patterns of trade.

Students will analyze the economic arguments for and against protectionist policies like tariffs and quotas.

Students will analyze the impact of tariffs, quotas, and free trade zones on the global economy and specific industries.

Students will understand how the value of one currency is determined relative to another in floating and fixed exchange rate systems.

Students will analyze how changes in exchange rates affect a nation's exports, imports, and balance of trade.

Students will understand the components of the balance of payments (current and capital accounts) and their significance.

Students will examine the roles and impacts of organizations like the WTO, IMF, and World Bank in the global economy.

Students will discuss the economic, social, and environmental impacts of globalization on developed and developing nations.

Students will differentiate between economic growth and economic development and identify key indicators of development.

Students will investigate common barriers to development in low-income countries, such as poverty, corruption, and lack of infrastructure.

Students will explore various strategies for promoting economic development, including industrialization, education, and microfinance.

Students will understand how economic principles can be applied to environmental issues, including externalities and public goods.

Students will examine the economic causes and consequences of pollution and the depletion of natural resources.

Students will evaluate various economic policies designed to address environmental problems, such as taxes, permits, and regulations.

Students will explore the United Nations Sustainable Development Goals (SDGs) and their economic implications for global progress.

Students will analyze the causes and consequences of income inequality and poverty, and discuss policy responses.

Students will apply economic principles to understand the complexities of healthcare markets, costs, and policy options.

Students will examine education as an investment in human capital and its economic returns for individuals and society.

Students will explore how psychological factors influence economic decision-making, deviating from traditional rational choice models.

Students will analyze the economic characteristics of the digital economy, including network effects, data as a resource, and market concentration.

Students will analyze the economic characteristics of public goods and externalities, and the role of government in addressing market failures.

Students will identify and discuss emerging economic challenges such as demographic shifts, resource scarcity, and technological disruption.

Students will conduct independent research on a current economic issue and present their findings and analysis.