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Course Profile Analysing Current Economic Issues (CIA4U),
Grade 12, University Preparation, Catholic
Course Overview
Prerequisite: Any Grade 11 or 12 University or University/College Preparation course in
World
Studies, English, or Social Sciences and Humanities
This course explores the choices that
individuals and societies make about the use of resources in a competitive
global economy. Students will use economic concepts and models, as well as
methods of economic inquiry, to analyse current economic issues and make
informed economic choices based on their analysis.
Where an allocation of resources is made, ethical
value judgments are also made. The values inherent in the distribution of
resources usually reflects the views of that society’s economic
decision-makers. These values may, or may not, be consistent with the attitudes
and values contained within the Catholic faith. As a result, students evaluate
the consistency, or lack of it, of the actual method for distribution of
resources, locally, nationally, and globally, as it is carried out by economic
decision-makers. Evaluations of this type provide an excellent opportunity for
teachers to develop Catholic values in students through questioning,
discussion, and debate about how society should distribute resources compared
to how resources are actually distributed.
Applying economic concepts, models, and methods
of inquiry to examine current economic issues provides students with an
opportunity to develop thinking, inquiry, and communications skills. This
course better equips students for further study of economics at the university
or college level.
Catholic learners are encouraged to develop their gifts and abilities to promote growth toward personal responsibility in making economic choices. Unit topics allow students to develop moral, ethical, and realistic decision-making in an effort to become a conscientious Christian citizens. For example, a student of economics should be aware of the need for social and economic justice at home and internationally. This concept of justice can be expanded to include choices at a micro-level. For example, when making investment or consumer product choices, students take into consideration the moral and ethical record of the company whose shares or products they are purchasing. Students raise the question: Would these choices be consistent with Catholic social and economic teaching?
The
Economies
are not static, and as a result, economics is an evolving discipline whose
theories are ever changing. There are seldom simplistic or all-inclusive
answers to easily or concisely explain all events. Students use a variety of
knowledge and reasoning to express their personal thoughts after researching a
component studied during the course. Peer perceptions help students realize
economics is a diverse, changing, and often controversial discipline. Since
there are often conflicting viewpoints on economic issues, students are forced
to examine their own ethics to determine their own positions. Each student
should call upon Catholic faith and values to help find this position.
This University Preparation course provides
students with many opportunities to study economics and express their understanding
through various applications. Students become better readers and writers as
they have numerous hands-on opportunities to research, create, and explain the
results of their investigations.
Some events may be examined as they o
This course requires one prerequisite course
which may include one University/College Preparation course in a wide array of
subjects including World Studies, English, or a Social Science. The Grade 11
economics course (CIE3M) is not a prerequisite. Therefore students may start this
course without any prior exposure to economic theory and concepts. As a result
the learning expectations are clustered in a manner which provides students the
opportunity to review various fundamental concepts in economics prior to
analysing current economic issues and their implications. With this in mind,
the course has been organized by these writers into seven units.
In Unit 1, students acquire a foundation of
certain fundamental economic theory and concepts. Demand and supply, marginal
cost, opportunity cost, the production possibility curve, the theories and
ideas of prominent economists (Marx, Keynes, etc.) as well as the study of
various economic systems (market, command, etc.) will provide students with a
framework for analysis as the course progresses.
Once students have been introduced to these
fundamental economic theories and concepts in Unit 1, they examine public and
private sector economic institutions and their influence on our economy in Unit
2. They also examine various market structures such as monopolies, imperfect
competition etc. The resulting cost and benefits to society will be considered.
Students analyse current public and private sector trends with regard to their
impact on the potentially conflicting goals of economic freedom and economic
equity, such as the corporate freedom to maximize profits versus the
individual’s need for a minimal share of resources.
In Unit 3, students begin to study economic
statistical analysis. After identifying key economic indicators of performance,
students perform statistical analysis in order to draw conclusions and present
their findings. Students apply the concepts previously learned to actual
trends, thereby moving from the theoretical to the practical. Students analyse
economic measures such as real income, various sector trends, and income
distribution in
Students examine the fiscal responsibility of
all levels of governments in
International
trade is a major component of
Economics involves the study of how scarce
resources are distributed among the various stakeholders in a society. In Unit
6, Economic Conflict, students examine the way each type of economic system
struggles with how best to satisfy its members’ needs and wants. The tradeoffs
among competing stakeholders inevitably leads to conflict. Students examine the
conflict between individuals, corporations, and governments over the
distribution of these scarce resources and the resulting trade-offs throughout
this unit. Students also examine other practical examples of economic problems
such as poverty and the “hidden economy,” and what can be done about these and
other sources of economic conflict. This unit will expand upon students’
development of the attitudes and values founded on the Catholic values of
responsibility, justice, human solidarity, compassion, and promoting the
greater social common good.
This
Course Profile includes a culminating activity of three different components.
The first part of this activity is a final written examination evaluating
mostly knowledge and thinking skills. The second component of the culminating
activity includes a written paper. This paper will be submitted to the
instructor prior to the end of the course to allow the instructor to evaluate
it before final exams begin. The rubric can be found in Appendix 4.4.1 of Unit
4 in this document. The third and final part of the course culminating activity
o
|
Unit 1 |
Foundations/Fundamentals
of Economics |
20
hours |
|
Unit 2 |
Economic
Institutions |
16
hours |
|
Unit 3 |
Economic
Measures of Performance |
20
hours |
|
* Unit
4 |
Domestic
Policies |
20
hours |
|
Unit 5 |
International
Policies |
15
hours |
|
Unit 6 |
Economic
Conflict |
10
hours |
|
Unit 7 |
Culminating
Activity |
9 hours |
* This
unit is fully developed in this Course Profile.
Time:
20 hours
Unit Description
Students
learn fundamental economic concepts, such as opportunity cost, demand, and
marginal analysis, and models such as production possibilities curve, the
market, and circular flow, and how to make individual and collective choices,
to forecast economic change, to define a reality, a problem, or an issue, and
to understand the way economic systems operate. The teacher can use Catholic
social teaching and its effects on the views of stakeholders as an opportunity
to promote the Catholic value of an equitable distribution of resources.
Students compare the ways in which different types of economic systems such as
the market, command, and mixed, make choices about what, how, and for whom to
produce. Students study major ideas and theories of prominent economists such
as Adam Smith, Karl Marx, and John Maynard Keynes. Finally, students analyse
the interdependent relationships among participants in markets. Students use
the demand and supply model to illustrate the interdependence of buyers and
sellers in markets.
A
culminating activity could include students’ individually preparing and
submitting a formal report in which they analyse a personal economic choice.
The report involves application of Unit 1 concepts, including scarcity,
opportunity cost, demand and supply, Catholic social teaching (where
applicable), and marginal utility analysis. Students may use cartoons, graphs,
and charts to explain their decision-making reality.
Su
Unit
Overview Chart
|
Cluster |
Learning Expectations |
Assessment Categories |
Focus |
|
1 |
DM1.01,
DM2.03, SI1.03, SI1.02, ES1.01 |
Knowledge/Understanding |
Economic
Concepts |
|
2 |
DM2.06,
SI1.01, DM2.02, DM2.01 |
Knowledge/Understanding |
Major
Ideas and Theories in Economics |
|
3 |
DM1.04,
ES3.01, DM3.04 |
Knowledge/Understanding |
Economic
Systems |
|
4 |
SI1.04,
SI2.01, SI2.02, SI2.03, SI4.03 |
Knowledge/Understanding
Communication |
Stakeholders
and Interdependence |
Time:
16 hours
Unit Description
In
a study of business organizations, students examine the growth of multinational
corporations and the implications of corporate concentration. Students identify
differences between profit and non-profit institutions in the private sector.
Also, students examine public and private provision of specific goods and
services in light of the changing economic influence of the public sector and
the important role of financial intermediaries in capital markets. Students
analyse different market structures, e.g., perfect, imperfect competition, and
their costs and benefits from the perspective of different stakeholders and
whether or not they achieve their economic goals. It is suggested that market
structures be covered in a general sense because of time constraints. Via
cost-benefit analysis, students evaluate whether or not the current
trends/proposals in the public and private sectors contribute to the goals of
economic freedom and economic equity. Students observe how the economic
influence of markets and the public sector has changed, e.g., deregulation,
privatization. Selected issues are analysed with particular concern for the
social teaching and Catechism of the Catholic Church.
The culminating activity for the unit could
include a formal report, written and/or oral, on the effects of actual/proposed
change within an industry, such as:
·
privatization
of the liquor control board in
·
privatization
of public education/creation of charter schools in selected
·
lack
of industry competition in the air travel industry in
·
right
to work legislation in
In this report
students analyse the real or potential costs and benefits to stakeholders. The
Catholic student should focus on whether or not the issue they are analysing
promotes a fair distribution of goods and services as well as social justice.
Note: this report could serve as a
component of the final culminating activity for the course.
The
categories of Knowledge/Understanding, Thinking/Inquiry, Communication, and
Application will be evaluated in this culminating activity.
Unit
Overview Chart
|
Cluster |
Learning Expectations |
Assessment Categories |
Focus |
|
1 |
EI3.02,
EC2.04, EI1.01, EI1.02, EI1.04 |
Knowledge/Understanding |
Business
Organizations, Financial Intermediaries, and Their Roles in the Economy |
|
2 |
SI4.02,
|
Knowledge/Understanding
Thinking/Inquiry |
Analysis
of Competitive Market Structures |
|
3 |
EC5.01,
EC5.02, EC5.03, EC5.04, DM3.01, DM2.04, ES2.04, DM3.02 |
Thinking/Inquiry |
The
Goal of Economic Freedom and Equity (cost/benefits of deregulation,
privatization) |
Time:
20 hours
Unit Description
Students
examine the main measurements of economic performance in
Once
the economic measurements have been identified and understood, students look
for economic trends and economic growth using application. Some of these trends
and growth could be related to the recent trend in vocations and their
contribution to the common good.
The unit
concludes with statistical analysis of such measurements as real income and its
distribution in
Unit
Overview Chart
|
Cluster |
Learning Expectations |
Assessment Categories |
Focus |
|
1 |
EI4.01,
DM3.03, EC1.02, EC1.01, EC1.03, EIV.04, ECV.01 |
Knowledge/
Understanding |
Major
Economic Indicators (GDP, standard of living, balance of trade, Human
Development Index) |
|
2 |
EC1.04,
EC1.05, EC3.01, EI2.04, DMV.03, ECV.05 |
Knowledge/
Understanding |
Economic
Trends (past and present economic performance) |
|
3 |
EC2.02,
EC2.01, EC3.02, ECV.02 |
Knowledge/
Understanding Thinking/Inquiry, Application |
Economic
Growth (factors and benefits of growth) |
|
4 |
EC4.01,
ES1.03, ECV.03 |
Knowledge/
Understanding |
Statistics
Analysis Cause and Effect, e.g., changes in average real income and
distribution |
Time:
20 hours
Unit Description
To
understand what economic policies are, students should know who is responsible
for them. Students look at the various ways the government is involved in the
economy from the production of goods and services to the distribution of
income. Students examine the revenues and expenditures of different levels of
government. They further examine government spending, and current government
economic practice and their consistency with the values of the Catholic Faith.
Exercising
the morality and compassionate beliefs formed in the Catholic faith, students
evaluate the effectiveness of government legislation in regard to fiscal policy
such as debt payments, income distribution, and the control of the unemployment
rate. These Catholic beliefs are used to examine how effective fiscal and
monetary policies such as government imposed tax rates and the control of the
money supply and interest rates are in creating and/or maintaining economic
stability.
In the
final activity for this unit, students create a “position paper.” This activity
should encompass the skills and knowledge gained in each of the previous
activities of this unit. In this activity, students analyse and evaluate a
specific piece of government legislation to determine its effectiveness in
promoting economic well-being. In the position paper, students adopt a position
and then defend that position using written communication skills. Students
should be able to demonstrate an understanding of the theory presented; the
legislation as it was intended to work; and whether or not it has been
effective. The position supported by each student in the paper will relate
specifically to a government program at one of the three levels of government,
such as minimum wage laws, unemployment insurance, pensions, or welfare, etc.
The student must argue that the government’s actions with regard to this
program are either effective or that they are ineffective. The student
considers the attitudes and values of Catholic social teaching and the
promotion of social responsibility, human solidarity, and the common good when
adopting their own specific position.
Unit
Overview Chart
|
Cluster |
Learning Expectations |
Assessment Categories |
Focus |
|
1 |
EI2.01,
EI2.04, EI2.02, EI2.03, EIV.02, ECV.04, CGE 2c, 7e, 7j |
Knowledge/
Understanding |
Role of
the Governments |
|
2 |
EC3.01,
EC3.03, EC3.04, SIV.02, ECV.04, EI2.04, CGE 3f, 7a |
Knowledge/
Understanding |
Fiscal
Policy |
|
3 |
EC3.03,
EC3.04, EI2.05, ESV.01, ES1.03, SIV.02, EC3.02, SI3.03, ECV.04, CGE 2a, 2b,
2c, 3f, 4f, 5a, 5e, 7a |
Knowledge/
Understanding |
Monetary
Policy (controlling the money supply and interest rates) |
|
4 |
EC4.03,
EC3.04, ECV.04, ES2.04, |
Knowledge/
Understanding |
Analysis
of Government Financial Performance (Culminating Activity) |
Time:
15 hours
Unit Description
Students
acquire knowledge and terminology critical to understanding the evolving
“global economy.” A worldwide perspective enables each student to become a better-informed
stakeholder and decision-maker within his/her own lifetime.
Students
examine different theoretical economic systems including capitalist, socialist,
and command economies. Students then apply these concepts to the actual
workings of various national economies, e.g.,
After
explaining the concepts of absolute and comparative advantage, students perform
a summative activity, where they analyse the benefits of specialization and
international trade in goods and service and capital flows. This activity could
involve the creation of visual aids (charts and graphs large enough for
classroom display) or the creation of an illustration, where the student
demonstrates knowledge and understanding of the benefits of international trade
using fictional countries and trade patterns.
Students
also compare their own individual economic rights as protected by legislation
in
Unit
Overview Chart
|
Cluster |
Learning
Expectations |
Assessment
Categories |
Focus |
|
1 |
ES3.02,
ES3.03, DM3.01 |
Knowledge/
Understanding |
A
Variety of Economic Systems (Command, Market, Mixed) |
|
2 |
SI3.04,
SI3.01, SI3.02, EI3.03, SI1.04 |
Knowledge/
Understanding |
Why
Trade? – (absolute and comparative advantage) |
|
3 |
ES2.01,
EI3.01, DM3.02 |
Knowledge/
Understanding |
International
Organizations Promoting Economic Well-Being |
Time:
10 hours
Unit Description
Demand
for resources is insatiable, the supply of these same resources is limited, and
conflict over the distribution of these scarce resources results. Scarcity of
resources and conflict over their distribution is a central theme throughout
the study of economics. Students examine the economic conflict among
individuals, corporations, and governments over scarce resources and the
resulting opportunity cost. Once again, teachers can use these economic social
issues to challenge students to develop their own values in this area in a
manner which is consistent with the Catholic faith.
Students
examine the concept of “stewardship” as it applies to specific examples of
economic responsibility and choice, e.g., pollution, income distribution, etc.
Students examine the criteria used by each group of stakeholders to make
economic choices. This examination leads to an illustration of how the
self-interest of one group can lead to the prevention of the achievement of
goals by another group. Students inspect the reasons why some stakeholders are
“losers,” receiving a less than equitable share of resources, and what can be
done about it. The attitudes and values founded on Catholic social teaching
which promote social responsibility, human solidarity, and the common good must
be considered within the inequitable allocation of resources. In addition,
students examine the evolution and effects of the “hidden” economy (illegal,
barter markets, etc.).
Finally,
students demonstrate their understanding of the tradeoffs and competition among
countries, businesses, and individuals for limited resources. The culminating
activity could involve the written analysis of a relevant current economic
event published in the media, e.g., the announcement of large profits earned by
a local corporation. In the analysis, students identify why this issue involves
conflict for limited resources. Students apply their knowledge and
understanding to this matter and address both sides of the issue. In this
instance for example, “excessive” corporate profits may be unfair and
inequitable to society’s “have-nots” and inconsistent with the teachings of our
Catholic faith. Some students may present the other side of this issue,
elaborating on the view that su
Unit
Overview Chart
|
Cluster |
Learning
Expectations |
Assessment
Categories |
Focus |
|
1 |
ES2.03, ES2.02 |
Knowledge/ Understanding |
Economic Rights and Responsibilities
(Individuals, Corporations and Governments) |
|
2 |
ES1.02,
SI4.01, DM2.05, DM1.03, SI1.04, DM2.04 |
Knowledge/
Understanding |
Competition
Among Economic Stakeholders (Tradeoffs) |
|
3 |
EC2.03,
EC4.02, SI4.04, ES2.04 |
Knowledge/
Understanding |
Economic
“Losers” – Who are they? What can be done? |
|
4 |
EI4.02,
EI4.04, EI4.04 |
Knowledge/
Understanding |
The
Hidden Economy – Why it exists and how it works (Illegal Activity) |
Time:
9 hours
Unit Description
The
culminating activity for this course includes a written paper that is presented
to the class and a final written examination that evaluates knowledge and
thinking skills. The student-selected topic for this paper must be approved by
the teacher and submitted for evaluation prior to the end of the course.
Students present the contents of the paper to the class in a 20-minute
presentation. The presentation can be evaluated using the rubric found in
Appendix 4.3.3 of Unit 4 in this document.
Unit
Overview Chart
|
Cluster |
Learning Expectations |
Assessment Categories |
Focus |
|
1 |
DMV.01,
.02, .03, ESV.01, .02, .03, SIV.01, .02, .03, .04 EIV.01, .02, .03, .04,
ECV.01, .02, .03, .04, .05 |
Knowledge
Understanding |
Culminating
Activity (written paper), Presentation |
Providing students with a variety of learning
strategies allows for greater opportunities for their su
·
Brainstorm
topics such as the economic impact of current events or major events in
history;
·
Case
studies, excellent for analysis of economic concepts, can be found in many
economics textbooks. (These can be done individually or in small groups.);
·
Cooperative
learning;
·
Teacher-student
conferencing for selection of topics for research, assessment, and achievement;
·
Discussion
and debate environmental concerns and Catholicity;
·
Graphical
analysis is important in this course and should be implemented especially in
the economic indicators section;
·
Guest
speakers from local businesses, government institutions, and politicians;
·
Lectures
from teacher-centred personal stories relevant to the curriculum;
·
Note-taking
for knowledge-based material;
·
Researching
in magazines, Internet, or local, regional, or national media regarding unit
specific topics such as prominent economists, corporate concentration, and
recent changes in Canadian financial institutions;
·
Games
or simulations obtained through a university are excellent learning tools;
·
Culminating
activities such as position papers or projects based on the unit material;
·
Integrating
the technological tools and software available to promote students’ exploration
and understanding of economic indicators and concepts;
·
Considering
the use of classroom demonstrations in situations where technological tools for
each student are not available, for example, the use of a computer projection
device to show a graphical analysis of the Consumer Price Index;
·
Offering
students the opportunity to present economic applications and to express their
individual economic rights/responsibilities in a variety of presentation
formats;
·
Teachers
could introduce a culminating activity early in the course to allow students
the opportunity to research a chosen topic for presentation at a future date.
To assess
Knowledge/Understanding
·
Quizzes
and short answer homework questions
·
Short
answer and graphical analysis on tests and exams
·
Student-teacher
conferencing
·
A
·
Skill-based
calculations on tests and exams
To assess
Thinking/Inquiry/Problem-Solving
·
Broad-based,
open-ended problems on unit tests and exams
·
Multi-step
in-class assignments
·
Multi-step
take home assignments
·
Observation
of problem-solving strategies using group work
·
Economic
reasoning in reports and presentations
·
Economic
reasoning in case studies
To assess Communication
·
Verbal
presentation of homework solutions
·
Appropriate
use of economic language and terms on tests and assignments
·
Journals
·
Organization
of visual aids during presentations
·
Clarity
of written expression and graphical analysis in solutions
·
Observation
of student interaction during group work
·
Clarity
of economic reasoning in reports and presentations
To assess Application
·
Use
of appropriate technological tools for research and presentations
·
Graphical
analysis and use of mathematical reasoning in solutions
·
Problem-based
assignments (case studies)
·
Application
of economic reasoning to current issues
The course evaluation must consist of 70% term
work and 30% summative evaluation.
Term
work summative evaluation (70%)
This
form of evaluation should be varied and must be based on individual student
performances relative to the criteria. (See Teaching/Learning Strategies.)
The
formative assessment component takes place during the unit and the summative
evaluation at the conclusion of each unit.
Both forms should
assess/evaluate student achievement in the categories of
Knowledge/Understanding, Thinking/Inquiry, Communication, Application.
Summative
Evaluation (30%)
For
this course, the summative evaluation could include:
·
Writing
and presenting of a position paper;
·
Final
written examination;
·
The
expectations should be provided to the students when the project is assigned.
All
necessary adaptations and a
A
·
Providing
for flexible timelines regarding the completion of projects and assignments;
·
Modifying
handouts in terms of language and content used, and in terms of size and
easy-to-read font;
·
Providing
a simplified list of terminology prior to the activity;
·
Providing
oral preplanning of activities;
·
Allowing
students to work in an alternate setting;
·
Providing
alternate formats for assignments, e.g., written reports, oral presentations,
demonstrations;
·
Providing
opportunities to redo all or part of a task;
·
Adapting
tests and exams as recommended in IEP, e.g., time, use of technology, use of
scribe;
Consideration for students learning English as their second
language is also necessary. The classroom teacher should be familiar with The
·
Combining
both written and verbal instructions;
·
Highlighting
keywords/phrases to be incorporated into the “students’ dictionary”;
·
Grouping
students a
·
Allowing
practice sessions for oral presentations;
·
Providing
sets of reference notes, outlines, or critical information, as well as models
of charts, timelines, or diagrams;
Units in this Course Profile make reference to the use of specific texts, magazines, films, videos, and websites. Teachers need to consult their board policies regarding use of any copyrighted materials. Before reproducing materials for students use from printed publications, teachers need to ensure that their board has a Cancopy license and that this license covers the resources they wish to use. Before screening videos/films with their students, teachers need to ensure that their board/school has obtained the appropriate public performance videocassette license from an authorized distributor, e.g., Audio Cine Films Inc. Teachers are reminded that much of the material on the Internet is protected by copyright. The copyright is usually owned by the person or organization that created the work. Reproduction of any work or substantial part of any work on the Internet is not allowed without the permission of the owner.
·
The
school library/resource centre staff where available
·
Guest
speakers, e.g., bankers, economists, stockbrokers, entrepreneurs, elected
officials, civil servants
Note:
The URLs for
websites were verified prior to publication. Given the frequency with which
these designations change, teachers should always verify the websites prior to
assigning them for student use.
STATISTICS
This site can be used in every unit of the course. It includes the following:
- a complete teacher’s kit with lessons for economics
- several important statistics (Latest Indicators, Economic Conditions, Finance
and Services, etc.)
- the daily news bin has a wealth of material for economics, especially the
Strand called “Assessing economic change”
- the latest release of the consumer price index, unemployment, G.D.P., labour
force
- government publications and information regarding government deficits and
debt
- a population research project is available in one of the teacher kits lessons
as well as many others
CANADIAN
FOUNDATION FOR ECONOMIC EDUCATION – http://www.cfee.org
This foundation was created in 1974 to develop the ‘functional economic
capability’ to undertake decisions and actions in the economic lives of young
Canadians.
CANADIAN
ECONOMICS ASSOCIATION – www.economics.ca
The CEA’s objective is to provide economic knowledge through the encouragement
of study and research.
THE
CANADIAN RESOURCE PAGE – www.-z.cs.cmu.edu/unofficial/canadiana/readme.html
A website that provides links. Sites are organized by the Contents, and are
further divided into subcategories such as News and Information, Facts and
Figures, and Government Services. Most Canadian newspapers are included.
NATIONAL
LIBRARY OF
This site provides numerous links relating to the subject of economics.
Provides information relevant to the Canadian customs and its revenue.
ONTARIO
MINISTRY OF FINANCE – http://www.gov.on.ca/FIN/english/enghome.htm
Information regarding the provinces financial affairs can be found here.
CANADIAN
TAX FOUNDATION – http://www.ctf.ca/
Provides links to a variety of related websites.
YOURLOCALGOVERNMENT.COM
– http://199.202.235.157/ylg/govinont.html
This site is a place to start for many assignments relating to local
government.
THE
CANADIAN TAXPAYERS ASSOCIATION – http://www.taxpayer.com/
A site during the investment section of the course.
EXCITE
– www.excite.com
A financial portal which serves as an organizer for stock portfolios and
provides dozens of news sources.
WALL
STREET JOURNAL INTERACTIVE EDITION – www.wsj.com
Current business news.
This site provides market-oriented news on high-tech companies in
MARKET
GUIDE – www.marketguide.com
This is an effective site for financial variables to analyse selected
companies.
VALUE
LINE – www.valueline.com
This site provides free samples of Value Line research on feature stocks.
MULTEX
INVESTOR NETWORK – www.multexinvestor.com
This site provides research from 250 sources. It also allows users to receive
e-mail when new reports on companies are available.
IPO
MONITOR www.ipomonitor.com
Research on recent IPO pricing and filings are available on this site.
WORLDLYINVESTOR.COM
– www.worldlyinvestor.com
This site is fully dedicated to international investing. It offers original
content from correspondents and columnists from around the world.
MSN MONEYCENTRAL – www.moneycentral.com
This site provides Q & A’s that teach students the rudiments of investing,
and links to other more specialized sites and informative articles.
Resources
in support of CGEs
The
This site is a source regarding Catechism of the Catholic Church.
Canadian
Conference of Catholic Bishops – www.
This site of
Amnesty
International – www.amnesty.org
This site looks at the Universal Declaration of Human Rights and other
international standards.
Assembly
of First Nations – www.afn.ca
This site is of significant value when researching Aboriginal issues.
OneWorld
– www.oneworld.net
This site provides news clippings on global topics and analysis of global
issues and looks at the equitable and sustainable distribution of wealth in the
world.
Council
of Canadians – www.canadians.org/index.html
This site provides a critical and progressive voice on key national and
international issues.
Development
and Peace – www.devp.org
This site examines how The Canadian Catholic Organization has helped to improve
living and working conditions in 70 countries around the globe.
Drop
the Debt – www.dropthedebt.org
This site, with its 24 million signatures, persuaded the world’s wealthiest
nations to pledge to cancel 100 billion dollars of the debts of the world’s
poorest countries. This site is supported by celebrities such as U2’s Bono and
Muhammad Ali. The site features a header with a running count of the number of
children that have died because of debt since the user loaded the page.
The
This is a start for projects as it provides links to many organizations.
International Campaign to Ban Landmines –
www.icbl.org
This campaign became famous through the work of the late Diana, Princess of
Wales. It provides news and photos and students can join the “Youth Against
War” Treaty.
Thexton,
James. Economics: a Canadian Perspective.
ISBN 0-19-540747-4
Archer,
Maurice. Introduction to Economics: a Canadian Analysis.
James,
Elijah. Economics: a Problem-Solving Approach.
ISBN 0-13-156886-8
Lovewell,
Mark and Brian Lorimer. Economics for Today: Issues and Applications.
Blomqvist,
A., P. Wonnacott, and R. Wonnacott. Economics, Third Canadian Edition.
Pomfret,
R. Economic Development of
Savoie,
Donald. Regional Economic Development:
Wonnacott,
Gordon and Ronald Wonnacott. Free Trade Between the
Menz,
Frederic and Sarah Stevens. Economic Opportunities in Freer
Basanez,
M., N. Nevitte, and R. Inglehart. The North American Trajectory: Cultural,
Economic, and Political Ties Among the
Parkin,
Michael. Economics:
Laszio,
E. and Joel Kurtzman. The
“Awakening Giant,” 1993, 60 minutes.
“International
Trade,” D.C. Heath (0171), 1994, 32 minutes. International Trade reviews the
reasons why people and nations trade with each other and presents a balanced
view of the importance of free and fair trade among all nations. It explains
the meaning of comparative advantage, economic rent, balance of payment, and
“The
Bomb Under the World,” National Film Board of Canada (0388), 1995, 51 minutes.
The implications of large developing countries like
“The
Banking System and the Role of the Government,” National Film Board, 1996, 30
minutes. This video examines the Canadian Banking System and the significance
of the Government of Canada.
“Marilyn
Waring on Women & Economics,” National Film Board (0386), 1996, 30 minutes.
Women comprise more than 50 % of the world’s population, yet hold fewer than
10% of seats in legislatures. This video takes a hard look at the disparity
between what women contribute to communities and how their work is valued.
“Money
and Financial Institution’s,” Nelson Canada (0397), 1997, 40 minutes. This
series of five programs will provide a teaching resource for both money and
financial institutions and credit and personal finance.
“Needs
and Wants and the Market,” National Film Board (0403), 1996, 30 minutes. Film
is an examination of the basic needs and wants of consumers.
“Sustainable
development and the ecosystem approach,” National Film Board, 15 minutes. This
program describes the spectrum of environmental thinking from exploitation of
the environment for purely economic reasons on the one hand, to strict
environmental protection to the exclusion of economics on the other.
“Trading
Futures-Living in the Global Economy” CBC Nature of Things, 1993, 120
minutes.
This
program provides the opportunity to collaborate across departments. Student
learning is enhanced by links between career classes, cooperative education
classes, and the explorations in this course. The Annual Education Plan is a
valuable platform for student decision-making. Other considerations in
implementing this profile are:
The
Ontario
Secondary Schools, Grades 9 to 12, Program and Diploma Requirements, 1999
The
Anti-Discrimination
Policies: Refer to local board documents
Equity/Social
Justice Issues: Refer to local board documents and the Ontario School Code of
Conduct
Career
Goals/Cooperative Education:
Community
Partnerships: Refer to local board policies
Teacher/Student Safety: Refer to the Provincial Code of Conduct and the Safe Schools Act from the Ministry of Education
Coded
Expectations, Analysing Current Economic Issues, Grade 12, University
Preparation, CIA4U
DMV.01 · explain the cause and nature of
the three types of choices that all economic systems must make;
DMV.02 · apply the concepts, models, and
processes of economic inquiry to the study of economic choice;
DMV.03 · evaluate different sources and
types of current economic information.
Understanding
Scarcity and Choice
DM1.01 – identify specific examples of
economic choices – both individual (e.g., for whom to work) and collective
(e.g., the level of government spending) – that Canadians must make because
economic resources are scarce;
DM1.02 – classify economic resources and
outputs by type (e.g., labour, capital, natural resource, good, service) and by
ownership (e.g., public, private);
DM1.03 – identify options and the explicit
and implicit (e.g., opportunity) costs associated with each option when making
an economic choice;
DM1.04 – compare the ways in which different
types of economic systems (i.e., market, command, and mixed economies) make
choices about what, how, and for whom to produce.
Using
the Tools of Economic Analysis
DM2.01 – compare the nature of economic
inquiry with that of scientific inquiry and identify the consequences (e.g.,
the certainty of conclusions) that result from these differences;
DM2.02 – demonstrate an understanding of
the major ideas and theories of prominent economists (e.g., Adam Smith, David
Ricardo, Thomas Malthus, Karl Marx, John Maynard Keynes) in the context of the
economic issues and challenges of their times;
DM2.03 – apply economic concepts (e.g.,
opportunity cost, demand, absolute advantage) and models (e.g., production
possibilities curve, the market, circular flow) that are used to identify and
analyse choices, forecast economic change, and define a reality, problem, or
issue;
DM2.04 – explain the criteria (e.g.,
economic goals of efficiency, stability, growth, security, equity, freedom)
used by different groups of economic stakeholders (e.g., consumers, producers)
and economists to evaluate economic change, issues, and choices;
DM2.05 – apply the cost-benefit method of
inquiry to current economic issues to evaluate choices, using stakeholder
criteria and economic goals;
DM2.06 – explain the reasons for agreement
and disagreement among economists (e.g., positive compared to normative
economics).
Evaluating
Economic Information
DM3.01 – conduct research effectively to
locate information from a variety of different media (e.g., newspapers,
Internet sites), institutions (e.g., government agencies), businesses, interest
groups (e.g., Canadian Centre for Policy Alternatives, Fraser Institute), and
other sources;
DM3.02 – evaluate the reliability of
different sources of information, and identify possible bias;
DM3.03 – evaluate different types of economic
information (e.g., statistical data, charts, graphs, tables, commentaries,
opinions) to determine the main ideas and the supporting factual details
contained in each, the assumptions made, the opinions expressed, and the degree
of logical consistency, relevance, and validity;
DM3.04 – communicate economic information
and analysis clearly, effectively, and a
ESV.01 · identify economic stakeholder
groups and the criteria each uses to make economic decisions;
ESV.02 · explain the economic rights and
responsibilities of “the economic citizen”;
ESV.03 · compare the ways and the degree
to which different types of economic systems satisfy the needs of stakeholders.
Stakeholders
and Their Needs
ES1.01 – identify the major stakeholder
groups in the Canadian economy (e.g., consumers, contributors, socio-economic
groups, citizens);
ES1.02 – identify the criteria used by
different groups of economic stakeholders to make economic choices (e.g.,
consumers might use utility while producers use profit);
ES1.03 – produce an analysis of the costs
and benefits of an economic change or choice (e.g., a rise in interest rates)
for different stakeholder groups (e.g., consumers, purchasers, workers,
exporters).
The
Economic Citizen
ES2.01 – compare the individual’s economic
rights as defined by the United Nations’ Declaration of Human Rights with those
protected by law in
ES2.02 – explain the concept of
stewardship as it applies to specific examples of economic responsibility and
choice (e.g., in terms of pollution, income distribution, use of resources);
ES2.03 – compare markets and governments
with regard to their ability to respect and protect the individual’s economic
rights and to promote the objectives of economic stewardship and responsible decision-making;
ES2.04 – apply the process, skills, and
concepts of economic inquiry to analyse public policy issues.
Stakeholder
Needs and Economic Systems
ES3.01 – analyse the power of different
stakeholder groups to make economic decisions in each type of economic system
(i.e., market, command, mixed);
ES3.02 – compare different national
economies (e.g., Canada, United States, Japan, China, Sweden) with respect to
ownership of resources, goods, and services (e.g., public or private) and
method of decision making (e.g., by individuals in markets or by a central
authority);
ES3.03 – compare capitalist, socialist,
and command economies with respect to their ability to satisfy stakeholder
needs and achieve economic goals.
SIV.01 · explain how stakeholders use self-interest
to make choices that maximize economic well-being;
SIV.02 · describe how groups of stakeholders and
markets within an economy are interdependent and may be affected simultaneously
by a change;
SIV.03 · assess the ways in which, and the
degree to which, people in
SIV.04 · identify examples of, and reasons
for, conflicts of self-interest that prevent the achievement of economic goals.
Self-Interest
SI1.01 – explain Adam Smith’s concept of
“the invisible hand”;
SI1.02 – explain, using concepts of
marginal analysis (e.g., marginal utility, cost, return), how different
stakeholders determine what economic choice is in their own best interest;
SI1.03 – describe how the self-interest of
buyers and sellers is expressed in a competitive market and maximizes the
efficient use of scarce resources and the satisfaction of stakeholders;
SI1.04 – explain how an understanding of
market activity is in the self-interest of stakeholders (e.g., because it
permits them to forecast change).
Economic
Interdependence
SI2.01 – explain how specialization
benefits stakeholders (e.g., through increased productivity) and creates
interdependence (e.g., between consumers and producers);
SI2.02 – illustrate the interdependence of
buyers and sellers in markets by describing how a change in demand or supply
affects price and quantity sold in one market and how that in turn affects the
self-interest and decisions of stakeholders in other markets;
SI2.03 – describe why and how one change
(e.g., a change in interest rates) can affect an entire economy (e.g.,
employment levels, prices, total output).
International
Economic Interdependence
SI3.01 – explain, using the concepts of
absolute and comparative advantage, the benefits of specialization and
international trade;
SI3.02 – analyse
SI3.03 – produce an analysis of the
factors that influence the exchange rate of the Canadian dollar and of the ways
in which changes in the dollar’s value affect the economy (e.g., output,
employment, prices);
SI3.04 – illustrate, using specific
examples, how events in another part of the world can affect the Canadian
economy and groups of Canadian stakeholders.
Conflicting
Self-Interests
SI4.01 – illustrate, by specific example,
how the self-interest of one group of stakeholders may conflict with the
self-interest of another and prevent the achievement of economic goals;
SI4.02 – produce an analysis of the costs
and benefits of different types of competitive market structures (e.g.,
perfect, imperfect competition) from the point of view of different
stakeholders and the achievement of economic goals;
SI4.03 – evaluate the importance and quality of the
information that sellers in a market provide to help buyers make choices and
the importance of this information to the achievement of economic goals;
SI4.04 – explain how externalities (e.g.,
third party costs) result from conflicts of self-interest in a market and
prevent the achievement of economic goals (e.g., efficiency).
EIV.01 · compare the different types and
functions of institutions in
EIV.02 · explain the nature and economic
functions of
EIV.03 · describe the nature of
international economic institutions and their impact on the Canadian economy;
EIV.04 · describe the nature, causes, and
consequences of economic institutions and activities that are part of the
“hidden” economy.
The
Private Sector
EI1.01 – identify ways in which different
forms of privately owned, profit-making institutions differ from collective
(e.g., cooperatives), non-profit, and charitable institutions in the private
sector;
EI1.02 – describe the role of
EI1.03 – describe the economic functions
performed by commodity futures markets;
EI1.04 – produce an analysis of the
advantages and disadvantages of privatization compared to the public provision
of a specific good or service (e.g., private versus public education, private
versus government-controlled liquor sales).
The
Public Sector
EI2.01 – describe how government is
involved in the economy (e.g., as a producer of consumer goods and services,
supplier of infrastructure, employer of resources, regulator of competition and
of aggregate demand, redistributor of income);
EI2.02 – classify total government
spending by level of government (i.e., federal, provincial, local) and by
function (e.g., the provision of goods and services, the redistribution of
income, debt payments);
EI2.03 – identify the specific sources and
types of municipal, provincial, and federal government revenues and the
relative importance of each;
EI2.04 – describe the difference between,
and the recent trends in, the debts and deficits of the three levels of
government;
EI2.05 – describe the forms and functions
of money in
International
Economic Institutions
EI3.01 – describe the nature and role of
international economic agreements and institutions (e.g., the North American
Free Trade Agreement, the World Trade Organization, the International Monetary
Fund, the Organization for Economic Cooperation and Development);
EI3.02 – describe the nature of
private-sector multinational corporations and the reasons for their growth;
EI3.03 – produce an analysis of the costs
and benefits to Canadian stakeholders of the trend towards freer international
trade.
The
“Hidden” Economy
EI4.01 – identify specific examples of “hidden”
economic activity (e.g., housework, crime, volunteer work);
EI4.02 – explain why the institutions of
the “hidden” economy (e.g., illegal and barter markets) have developed and how
they work;
EI4.03 – produce an analysis of the
positive and negative economic consequences of “hidden” economic activity
(e.g., volunteer work, criminal activity);
EI4.04 – produce an evaluation of
proposals designed to recognize and encourage the positive effects and reduce
the negative consequences of activity in the “hidden” economy.
ECV.01 · describe the nature and specific
use of traditional and emerging methods of measuring economic well-being;
ECV.02 · explain the course, causes, and
consequences of
ECV.03 · analyse the causes and
consequences of economic instability and the effectiveness of stabilization
policies;
ECV.04 · describe changes in incomes and
in programs and policies designed to help Canadians achieve an appropriate
level of economic security;
ECV.05 · analyse the changing importance
of the public and private sectors of the economy and what this means to the
achievement of the goals of economic freedom and equity.
Economic
Well-Being
EC1.01 – define and calculate the following
statistical measures: economic output (gross domestic product, or GDP),
economic growth (changes in real GDP over time), standard of living (real GDP
per capita), balance of trade (exports versus imports), the value of total
demand (gross domestic expenditure), and productivity (output per worker);
EC1.02 – evaluate the validity of the most
commonly used measures of economic well-being (e.g., growth, standard of
living, inflation, unemployment, poverty);
EC1.03 – describe measures of economic
well-being and performance other than those based on the National A
EC1.04 – produce an analysis of the
current economic situation, the trends in the economy, and the strengths and
weaknesses of the economy;
EC1.05 – compare the performance of the
Canadian economy at different times, including the present, with the current
performance of other economies.
Economic
Growth and Efficiency
EC2.01 – describe the most important
factors affecting
EC2.02 – explain the benefits and the
costs of economic growth and of the efficient use of economic resources;
EC2.03 – produce an evaluation of
proposals (e.g., regulation, market incentives) to reduce the negative
consequences of growth (e.g., pollution, resource depletion);
EC2.04 – explain how the current trend
towards corporate concentration (e.g., bank mergers) may threaten or promote
economic growth and efficiency.
Economic
Stability
EC3.01 – describe the characteristics and
causes of economic instability in each phase of the business cycle;
EC3.02 – identify the types, causes, and
effects of inflation, deflation, and unemployment;
EC3.03 – explain how government fiscal
policy (e.g., government spending or taxation) and monetary policy (e.g.,
increasing or decreasing interest rates) can help stabilize the business cycle
and prices, and lower the unemployment rate;
EC3.04 – evaluate how well current fiscal
and monetary policies are achieving the goal of economic stability.
Economic
Security
EC4.01 – analyse changes in average real
income, its composition, and its distribution in the Canadian economy over the
last decade;
EC4.02 – explain the concept of the
poverty line and the characteristics of the groups of stakeholders that fall
below it;
EC4.03 – evaluate the effectiveness of
government legislation (e.g., minimum wage, conditions of work) and programs
(e.g., education, health care, unemployment insurance, pensions, welfare)
designed to enhance the economic security of Canadians.
Economic
Freedom and Equity
EC5.01 – describe how the economic
influence of markets and the public sector has changed (e.g., a reduced level
of public services, deregulation, privatization);
EC5.02 – analyse the causes of these
changes (e.g., deficits, debt, globalization);
EC5.03 – produce a cost-benefit analysis
of the results of this trend for different groups of stakeholders;
EC5.04 – produce an evaluation of whether
this trend will help achieve the economic goals of equity and freedom.
The
graduate is expected to be:
A
Discerning Believer Formed in the Catholic Faith Community
who
CGE1a -illustrates
a basic understanding of the saving story of our Christian faith;
CGE1b -participates
in the sacramental life of the church and demonstrates an understanding
of the centrality of the Eucharist to our Catholic story;
CGE1c -actively
reflects on God’s Word as communicated through the Hebrew and Christian
scriptures;
CGE1d -develops
attitudes and values founded on Catholic social teaching and acts to
promote social responsibility, human solidarity and the common good;
CGE1e -speaks
the language of life... “recognizing that life is an unearned gift and
that a person entrusted with life does not own it but that one is called to
protect and cherish it.” (Witnesses to Faith)
CGE1f -seeks
intimacy with God and celebrates communion with God, others and creation
through prayer and worship;
CGE1g -understands
that one’s purpose or call in life comes from God and strives to discern
and live out this call throughout life’s journey;
CGE1h -respects
the faith traditions, world religions and the life-journeys of all
people of good will;
CGE1i -integrates
faith with life;
CGE1j -recognizes
that “sin, human weakness, conflict and forgiveness are part of the human
journey” and that the cross, the ultimate sign of forgiveness is at the heart
of redemption. (Witnesses to Faith)
An
Effective Communicator who
CGE2a -listens
actively and critically to understand and learn in light of gospel values;
CGE2b -reads,
understands and uses written materials effectively;
CGE2c -presents
information and ideas clearly and honestly and with sensitivity to others;
CGE2d -writes
and speaks fluently one or both of
CGE2e -uses
and integrates the Catholic faith tradition, in the critical analysis of the
arts, media, technology and information systems to enhance the quality of life.
A
Reflective and Creative Thinker who
CGE3a -recognizes
there is more grace in our world than sin and that hope is essential in facing
all challenges;
CGE3b -creates,
adapts, evaluates new ideas in light of the common good;
CGE3c -thinks
reflectively and creatively to evaluate situations and solve problems;
CGE3d -makes
decisions in light of gospel values with an informed moral conscience;
CGE3e -adopts
a holistic approach to life by integrating learning from various subject areas
and experience;
CGE3f -examines,
evaluates and applies knowledge of interdependent systems (physical, political,
ethical, socio-economic and ecological) for the development of a just and
compassionate society.
A Self-Directed, Responsible, Life Long Learner
who
CGE4a -demonstrates
a confident and positive sense of self and respect for the dignity and welfare
of others;
CGE4b -demonstrates
flexibility and adaptability;
CGE4c -takes
initiative and demonstrates Christian leadership;
CGE4d -responds
to, manages and constructively influences change in a discerning manner;
CGE4e -sets
appropriate goals and priorities in school, work and personal life;
CGE4f -applies
effective communication, decision-making, problem-solving, time and resource
management skills;
CGE4g -examines
and reflects on one’s personal values, abilities and aspirations influencing
life’s choices and opportunities;
CGE4h -participates
in leisure and fitness activities for a balanced and healthy lifestyle.
A
Collaborative Contributor who
CGE5a -works
effectively as an interdependent team member;
CGE5b -thinks
critically about the meaning and purpose of work;
CGE5c -develops
one’s God-given potential and makes a meaningful contribution to society;
CGE5d -finds
meaning, dignity, fulfillment and vocation in work which contributes to the
common good;
CGE5e -respects
the rights, responsibilities and contributions of self and others;
CGE5f -exercises
Christian leadership in the achievement of individual and group goals;
CGE5g -achieves
excellence, originality, and integrity in one’s own work and supports these
qualities in the work of others;
CGE5h -applies
skills for employability, self-employment and entrepreneurship relative to
Christian vocation.
A
Caring Family Member who
CGE6a -relates
to family members in a loving, compassionate and respectful manner;
CGE6b -recognizes
human intimacy and sexuality as God given gifts, to be used as the creator
intended;
CGE6c -values
and honours the important role of the family in society;
CGE6d -values
and nurtures opportunities for family prayer;
CGE6e -ministers
to the family, school, parish, and wider community through service.
A
Responsible Citizen who
CGE7a -acts
morally and legally as a person formed in Catholic traditions;
CGE7b -a
CGE7c -seeks
and grants forgiveness;
CGE7d -promotes
the sacredness of life;
CGE7e -witnesses
Catholic social teaching by promoting equality, democracy, and solidarity for a
just, peaceful and compassionate society;
CGE7f -respects
and affirms the diversity and interdependence of the world’s peoples and
cultures;
CGE7g -respects
and understands the history, cultural heritage and pluralism of today’s
contemporary society;
CGE7h -exercises
the rights and responsibilities of Canadian citizenship;
CGE7i -respects
the environment and uses resources wisely;
CGE7j -contributes to the common good.