Canada · Ontario Curriculum Expectations
Grade 9 Economics
This course introduces students to the fundamental principles of resource allocation, market dynamics, and personal financial management. Students analyze how individuals, businesses, and governments make choices under conditions of scarcity and explore the impact of those decisions on a global scale.
The Economic Way of Thinking
Explores the core concepts of scarcity, opportunity cost, and how incentives shape human behavior in every decision-making process.
Analyzing why humans must make choices and the inescapable trade-offs involved in every action.
Examining how positive and negative incentives motivate individuals and organizations to change their actions.
Comparing how different societies answer the three basic economic questions of what, how, and for whom to produce.
Markets and Price Determination
Investigates the mechanics of supply and demand and how they interact to determine prices and quantities in a competitive market.
Understanding the inverse relationship between price and quantity demanded and the factors that shift consumer preferences.
Exploring how producers respond to price changes and the impact of production costs on market availability.
Analyzing the point where supply and demand meet and the consequences of surpluses and shortages.
Business and Labor
Examines the role of entrepreneurs, various business structures, and the factors that influence the labor market and wages.
Studying the risks and rewards faced by individuals who start new businesses and drive economic growth.
Comparing perfect competition, monopolistic competition, oligopoly, and monopoly.
Analyzing how wages are determined and the impact of education and skills on earning potential.
Macroeconomic Indicators and Policy
Provides an overview of how the health of a national economy is measured and the tools used to manage economic stability.
Introduction to Gross Domestic Product, inflation rates, and unemployment figures as indicators of economic health.
Examining how the government uses taxing and spending to influence the economy.
Understanding the role of the central bank in managing the money supply and interest rates.
Personal Finance and Wealth Management
Equips students with practical skills for budgeting, saving, investing, and managing credit responsibly.
Developing strategies for managing income and prioritizing long term financial goals.
Understanding the costs of borrowing and the long term impact of credit scores.
Exploring various investment vehicles like stocks, bonds, and mutual funds and the relationship between risk and return.
The Global Economy
Analyzes international trade, exchange rates, and the interconnectedness of global markets.
Understanding why nations trade and how specialization increases global production.
Examining tariffs, quotas, and the role of international organizations in regulating trade.
Analyzing how the value of currency is determined and its impact on international purchasing power.