Economics

Economics is the study of how people and societies allocate resources to satisfy their numerous needs and wants in a manner that is efficient, equitable and sustainable.

Everything from money to clean water, oil, iPads and even Barbie Dolls, is finite. It is impossible for everybody to have everything. Thus choices have to be made.

In Forms 4 to 6 (Grades 10 to 12), this course:

  • deals with everyday life – it teaches students how the decisions they make are affected by what is happening in the socio-political-economic scenarios in which they operate;
  • promotes an ability to think logically and analytically, holistically and laterally, and it integrates well with other subjects;
  • acts as a sound springboard for tertiary education as it lays the foundation for many university courses, for future careers, and it helps to prepare the boys to become productive, responsible citizens;
  • develops skills to apply demand and supply, and cost and revenue analyses to explain prices and production levels;
  • helps to understand reconstruction, growth, development and human rights concerns.
  • analyses and assesses the impact of local and global institutions on the South African economy, and
  • explains economic events and forecasts their consequences or predicts likely future outcomes.

Who should take the course?

Boys who enjoy analysis, enquiry, debate and critical thinking should choose Economics. It inspires rigorous thought as the boys are required to develop analytical and reasoning skills and the need to communicate effectively.

Assessment

Grade 10 and Grade 11

  • Programme of Assessment (POA) comprises seven tasks which are internally assessed
  • Of the seven tasks, the six tasks which are completed during the school year make up 25% of the total mark for Economics, while the November Examination is the seventh task and makes up the remaining 75%.

Grade 12

    • Assessments consists of two components
    • Programme of Assessment which makes up 25% of the total mark, comprises seven tasks which are internally assessed.
    • An external examination which makes up the remaining 75%. The external examination is externally set and moderated.

Assessment is both informal (Assessment for Learning) and formal (Assessment of Learning).

Informal or daily assessment:

Informal assessment is a daily monitoring of learners’ progress. This is done through observations, discussions, practical demonstrations, learner-teacher conferences, informal classroom interactions, etc. Informal assessment may be as simple as stopping during the lesson to observe learners or to discuss with learners how learning is progressing.

The results of daily assessment tasks are not taken into account for promotion and certification purposes.

Formal assessment:

All assessment tasks that make up a formal programme of assessment for the year are regarded as Formal Assessment.

Programmes of assessment (POA):

Grade 10

Mid year

      • 2 x 1 hour paper
      • Macroeconomics (P1)
      • Microeconomics (P2)

Trial

N/A

End of year

      • 2 x 1.5 hour paper
      • Macroeconomics (P1)
      • Microeconomics (P2)

Grade 11

Mid year

      • 2 x 1.5 hour paper
      • Macroeconomics (P1)
      • Microeconomics (P2)

Trial

N/A

End of year

      • 2 x 1.5 hour paper
      • Macroeconomics (P1)
      • Microeconomics (P2)

Grade 12

Mid year

      • 2 x 1.5 hour paper
      • Macroeconomics (P1)
      • Microeconomics (P2)

Trial

      • 2 x 1 hour paper
      • Macroeconomics (P1)
      • Microeconomics (P2)

End of year

      • 2 x 1.5 hour paper
      • Macroeconomics (P1)
      • Microeconomics (P2)

The Trial Examination is one of the seven tasks that make up the Programme of Assessment for Grade 12. Ideally the Trial Examination should cover the full scope of the Grade 12 curriculum and should model the final Grade 12 examination.