Province of The s3

PROVINCE OF THE EASTERN CAPE EDUCATION

DIRECTORATE CURRICULUM FET PROGRAMMES LESSON PLANS ECONOMICS GRADE 12 TERM 1 FOREWORD

The following Grade 10, 11 and 12 Lesson Plans were developed by Subject Advisors during May 2009. Teachers are requested to look at them, modify them where necessary to suit their contexts and resources. It must be remembered that Lesson Plans are working documents, and any comments to improve the lesson plans in this document will be appreciated. Teachers are urged to use this document with the following departmental policy documents: Subject Statement; LPG 2008; SAG 2008; Examination Guidelines 2009 and Provincial CASS Policy / Guidelines.

Lesson planning is the duty of each and every individual teacher but it helps when teachers sometimes plan together as a group. This interaction not only helps teachers to understand how to apply the Learning Outcomes (LOs) and Assessment Standards (ASs) but also builds up the confidence of the teachers in handling the content using new Teacher strategies.

It must please be noted that in order to help teachers who teach across grades and subjects, an attempt has been made to standardise lesson plan templates and thus the new template might not resemble the templates used in each subject during the NCS training. However, all the essential elements of a lesson plan have been retained. This change has been made to assist teachers and lighten their administrative load.

Please note that these lesson plans are to be used only as a guide to complete the requirements of the Curriculum Statements and the work schedules and teachers are encouraged to develop their own learner activities to supplement and /or substitute some of the activities given here (depending on the school environment, number and type of Learner in your class, the resources available to your Learner, etc).

Do not forget to build in the tasks for the Programme of Assessment into your Lesson Plans.

Strengthen your efforts by supporting each other in clusters and share ideas. Good Luck with your endeavours to improve Teacher, Learning and Assessment.

of 17 Economics Term 1 Lesson Plans Grade 12 SUBJECT: ECONOMICS GRADE: 12 LESSON PLAN: 01 TERM 2 TIME: 8 HOURS TOPIC: Circular Flow

CONTENT: Present the open economy circular flow model, the markets, national account aggregates and conversions, the multiplier.

INTEGRATION WITH OTHER SUBJECTS: LEARNING OUTCOME 1: Macro- LEARNING OUTCOME 2: LEARNING OUTCOME 3: Economic LEARNING OUTCOME 4: economics. Micro-economics pursuits: Contemporary economic issues:

The learner is able to demonstrate The learner is able to The learner is able to demonstrate The learner is able to demonstrate knowledge, critical understanding and demonstrate knowledge, knowledge, understanding and critical knowledge, understanding and critical application of the principles, understanding and the awareness of the principles and awareness, and apply arrange of skills in processes and practices of the appropriate skills in analysing the practices underpinning the improvement dealing with contemporary economic economy. dynamics of markets. of the standard of living. issues. 12.1.1. Present the circular flow 12.2.1. Examine the 12.3.1. Compare and evaluate 12.4.1. Analyse and investigate model as a macroeconomic X dynamics of perfect markets South African growth and inflation, and explain the policies model, deduce and analyse the with the aid of cost and development policies in terms of that are used to combat it national account aggregates, revenue curves. international benchmarks, and and derive and apply the highlight the North/South divide. multiplier 12.1.2. Analyse the explanations 12.2.2. Explain the reasons 12.3.2. Discuss South Africa’s 12.4.2. Debate the economic of business cycles and discuss for and consequences of industrial development policies and importance of tourism to South how business cycles are used in market failures and reflect on assess their suitability in terms of Africa and suggest policies to forecasting. cost-benefit analysis international best practice. promote it, referring to the importance of indigenous knowledge systems. 12.1.3. Evaluate the role of the 12.2.3. Examine the 12.3.3. Discuss protectionism and 12.4.3. Analyse environmental public sector in the economy with dynamics of imperfect free trade, and evaluate South sustainability and investigate recent special reference to its markets with the aid of cost African international trade policies international agreements in this socioeconomic responsibility in and revenue curves and major protocols in terms of regard (e.g. Rio de Janeiro and the South African context these. Johannesburg Summits).

12.1.4. Examine the foreign 12.3.4. Analyse and discuss the 12.4.4. Engage in, evaluate and exchange market and the South African economic and social communicate economic issues of establishment of exchange rates, performance indicators and their the day, quantitative elements of and show how the balance of uses. Economics and other essentials payments account is affected.

of 17 Economics Term 1 Lesson Plans Grade 12 TEACHER ACTIVITIES LEARNER ACTIVITIES RESOURCES ASSESSMENT DATE COMPLETE D Gives the learners a short class test Write the test with questions based on factors of production and the economic participants Presents explains in detail the open Listen , take notes and ask Text books, circular flow model economy circular flow model questions

 Concepts  Participants and their roles

 Households/Consumers  Business sector/Producers/Firms  Government/State  Foreign Sector Form groups according to the Asks learners to do a simulation as participants. the different economic participants so that they can understand how these Each group will act its role to interact reflect the circular flow model as presented in the start of the lesson Explains real flows and money flows Listen , take notes and ask questions Gives the learners definitions of leakages and injections

 Gives the learners an activity Do class work on calculations where they will be required to calculate leakages and injections

Sums up by giving the learners a model equation Y=C+I+G+(X-M) using SA quantities Gives a detailed discussion of markers in the 4-sector model

of 17 Economics Term 1 Lesson Plans Grade 12  Product market  Factor  Foreign exchange market  Financial (money and Capital)  Flows through different markets (production, income, spending)

Gives learners an assignment where Write the assignment and present the learners will be required to it for a discussion in class discuss in detail the 4-sector circular flow model with the aid of the diagram including all the markets highlighting the flows leakages and injections Explains the methods to Do the activity by calculating Table on national accounts aggregates derive/calculate national account National account Aggregates from the Quarterly Bulletin aggregates (GDP, GDE,GDI)

Hands out a table to the learners where they will be required a to calculate and interpret national accounts aggregates

Monitors and facilitates whilst they are doing the activity Introduces national accounts conversions

 Basic cost  Factor cost  Market prices  Net figures

 National and domestic figures Gives learners class work on national account conversions and make calculations Introduces the multiplier and relates it to all sectors of the economy

of 17 Economics Term 1 Lesson Plans Grade 12  Concept  Formula  Derivation  Application  Graph

Gives learners a data response question on the multiplier (graph or text)

Homework:

Enrichment/Expanded Opportunities:

Teacher Reflections:

SIGNATURES:

______

TEACHER DATE HOD / SMT DATE

SUBJECT: ECONOMICS GRADE: 12 LESSON PLAN: 01 TERM 2 TIME: 8 HOURS TOPIC: Circular Flow

CONTENT: Present the open economy circular flow model, the markets, national account aggregates and conversions, the multiplier.

INTEGRATION WITH OTHER SUBJECTS: LEARNING OUTCOME 1: Macro- LEARNING OUTCOME 2: LEARNING OUTCOME 3: Economic LEARNING OUTCOME 4: economics. Micro-economics pursuits: Contemporary economic issues:

The learner is able to demonstrate The learner is able to The learner is able to demonstrate The learner is able to demonstrate knowledge, critical understanding and demonstrate knowledge, knowledge, understanding and critical knowledge, understanding and critical application of the principles, understanding and the awareness of the principles and awareness, and apply arrange of skills in

of 17 Economics Term 1 Lesson Plans Grade 12 processes and practices of the practices underpinning the improvement economy. appropriate skills in analysing the of the standard of living. dealing with contemporary economic dynamics of markets. issues. 12.1.1. Present the circular flow 12.2.1. Examine the 12.3.1. Compare and evaluate 12.4.1. Analyse and investigate model as a macroeconomic dynamics of perfect markets South African growth and inflation, and explain the policies model, deduce and analyse the with the aid of cost and development policies in terms of that are used to combat it national account aggregates, revenue curves. international benchmarks, and and derive and apply the highlight the North/South divide. multiplier 12.1.2. Analyse the explanations 12.2.2. Explain the reasons 12.3.2. Discuss South Africa’s 12.4.2. Debate the economic of business cycles and discuss X for and consequences of industrial development policies and importance of tourism to South how business cycles are used in market failures and reflect on assess their suitability in terms of Africa and suggest policies to forecasting. cost-benefit analysis international best practice. promote it, referring to the importance of indigenous knowledge systems. 12.1.3. Evaluate the role of the 12.2.3. Examine the 12.3.3. Discuss protectionism and 12.4.3. Analyse environmental public sector in the economy with dynamics of imperfect free trade, and evaluate South sustainability and investigate recent special reference to its markets with the aid of cost African international trade policies international agreements in this socioeconomic responsibility in and revenue curves and major protocols in terms of regard (e.g. Rio de Janeiro and the South African context these. Johannesburg Summits).

12.1.4. Examine the foreign 12.3.4. Analyse and discuss the 12.4.4. Engage in, evaluate and exchange market and the South African economic and social communicate economic issues of establishment of exchange rates, performance indicators and their the day, quantitative elements of and show how the balance of uses. Economics and other essentials payments account is affected.

TEACHER ACTIVITIES LEARNER ACTIVITIES RESOURCES ASSESSMENT DATE COMPLETE D

Homework: Page 7 of 17 Economics Term 1 Lesson Plans Grade 12 Enrichment/Expanded Opportunities:

SIGNATURES:

______

SUBJECT: ECONOMICS GRADE: 12 LESSON PLAN: 03 TERM 1 TIME: … HOURS TOPIC CONTENT

LEARNING OUTCOME 1: Page 8 of 17 Economics Term 1 Lesson Plans Grade 12 The learner is able to demonstrate LEARNING OUTCOME 3: knowledge, critical understanding and LEARNING OUTCOME 2: The The learner is able to demonstrate LEARNING OUTCOME 4: The application of the principles, processes learner is able to demonstrate knowledge, understanding and critical learner is able to demonstrate and practices of the economy. knowledge, understanding and the awareness of the principles and knowledge, understanding and appropriate skills in analysing the practices underpinning the critical awareness, and apply dynamics of markets. improvement of the standard of living. arrange of skills in dealing with contemporary economic issues. AS Present the circular flow Examine the dynamics of Compare and evaluate South Analyse and investigate inflation, 1 model as a macroeconomic perfect markets with the aid of African growth and explain the policies that are model, deduce and analyse cost and revenue curves. and development policies in used to combat it the national account terms of aggregates, and derive and international benchmarks, and apply the multiplier. highlight the North/South divide. AS Analyse the explanations of Explain the reasons for and Discuss South Africa’s industrial Debate the economic importance of 2 business cycles and consequences of development tourism to South Africa and suggest discuss how business market failures and reflect on policies and assess their policies to promote it, referring to the cycles are used in cost-benefit suitability in terms of importance of indigenous knowledge forecasting. analysis international best practice. systems. AS Evaluate the role of the Examine the dynamics of Discuss protectionism and free Analyse environmental sustainability 3 public sector in the economy imperfect markets with the aid trade, and and investigate recent international with special reference to its of cost and revenue curves evaluate South African agreements in this regard (e.g. Rio socioeconomic responsibility international trade de Janeiro and Johannesburg in the South African context policies and major protocols in Summits). terms of these. AS Examine the foreign Analyse and discuss the South Engage in, evaluate and 4 exchange market and the African communicate economic issues of establishment of exchange economic and social the day, quantitative elements of rates, and show how the performance indicators and Economics and other essentials balance of payments their uses. account is affected.

SUBJECT: ECONOMICS GRADE:12 LESSON PLAN: 03 TERM 1 TIME: … HOURS TOPIC CONTENT

LEARNING OUTCOME 1: LEARNING OUTCOME 2: The LEARNING OUTCOME 3: LEARNING OUTCOME 4: The Page 9 of 17 Economics Term 1 Lesson Plans Grade 12 The learner is able to demonstrate The learner is able to demonstrate knowledge, critical understanding and learner is able to demonstrate knowledge, understanding and critical learner is able to demonstrate application of the principles, processes knowledge, understanding and the awareness of the principles and knowledge, understanding and and practices of the economy. appropriate skills in analysing the practices underpinning the critical awareness, and apply dynamics of markets. improvement of the standard of living. arrange of skills in dealing with contemporary economic issues. AS Present the circular flow Examine the dynamics of Compare and evaluate South Analyse and investigate inflation, 1 model as a macroeconomic perfect markets with the aid of African growth and explain the policies that are model, deduce and analyse cost and revenue curves. and development policies in used to combat it the national account terms of aggregates, and derive and international benchmarks, and apply the multiplier. highlight the North/South divide. AS Analyse the explanations of Explain the reasons for and Discuss South Africa’s industrial Debate the economic importance of 2 business cycles and consequences of development tourism to South Africa and suggest discuss how business market failures and reflect on policies and assess their policies to promote it, referring to the cycles are used in cost-benefit suitability in terms of importance of indigenous knowledge forecasting. analysis international best practice. systems. AS Evaluate the role of the Examine the dynamics of Discuss protectionism and free Analyse environmental sustainability 3 public sector in the economy imperfect markets with the aid trade, and and investigate recent international with special reference to its of cost and revenue curves evaluate South African agreements in this regard (e.g. Rio socioeconomic responsibility international trade de Janeiro and Johannesburg in the South African context policies and major protocols in Summits). terms of these. AS Examine the foreign Analyse and discuss the South Engage in, evaluate and 4 exchange market and the African communicate economic issues of establishment of exchange economic and social the day, quantitative elements of rates, and show how the performance indicators and Economics and other essentials balance of payments their uses. account is affected.

LEARNING OUTCOME 1: LEARNING OUTCOME 2: The LEARNING OUTCOME 3: LEARNING OUTCOME The learner is able to demonstrate learner is able to demonstrate The learner is able to demonstrate 4: The learner is able to knowledge, critical understanding and knowledge, understanding and the knowledge, understanding and critical demonstrate knowledge, application of the principles, processes appropriate skills in analysing the awareness of the principles and understanding and critical and practices of the economy. dynamics of markets. practices underpinning the awareness, and apply improvement of the standard of living. arrange of skills in dealing with contemporary economic issues. AS 1 Present the circular flow model as a Examine the dynamics of

of 17 Economics Term 1 Lesson Plans Grade 12 macroeconomic perfect markets with the model, deduce and analyse the aid of cost and revenue national account aggregates, and curves. derive and apply the multiplier. AS 2 Analyse the explanations of Explain the reasons for business cycles and and consequences of discuss how business cycles are market failures and reflect used in forecasting. on cost-benefit analysis AS 3 Evaluate the role of the public Examine the dynamics of sector in the economy with special imperfect markets with reference to its socioeconomic the aid of cost and responsibility in the South African revenue curves context

AS 4 Examine the foreign exchange market and the establishment of exchange rates, and show how the balance of payments account is affected.  Explains individual business  Listen, take notes, ask and using cost and revenue curves answer questions - Output  Calculate, draw, analyse - Profits and interpret - Losses - Supply - Short & long term equilibrium - Economic losses - Economic profits - Normal profits

 Introduces & explains the  Listen and take notes industry with the aid of cost and revenue curves - Output - Profits - Losses - Supply - Short & long term equilibrium Page 11 of 17 Economics Term 1 Lesson Plans Grade 12  Gives learners an assignment  Go and do the assignment e.g a table with missing data where they will be required to do calculations to fill in the missing data and present it graphically  Summarises by making  Listen, take notes, ask and comparison between individual answer questions business and industry  Explains competition policies  Listen, take notes, ask and - Aims answer questions - Instruments of competition policy in South Africa  Gives learners a case study on policies

Homework:

Enrichment/Expanded Opportunities: choose which is applicable to your LPG

SIGNATURES:

______

SUBJECT: ECONOMICS GRADE: 12 LESSON PLAN: 03 TERM 1 TIME: …. HOURS TOPIC

of 17 Economics Term 1 Lesson Plans Grade 12 CONTENT

LEARNING OUTCOME 1: The learner is able to demonstrate LEARNING OUTCOME 2: The LEARNING OUTCOME 3: LEARNING OUTCOME 4: The knowledge, critical understanding and learner is able to demonstrate The learner is able to demonstrate learner is able to demonstrate application of the principles, processes knowledge, understanding and the knowledge, understanding and critical knowledge, understanding and and practices of the economy. appropriate skills in analysing the awareness of the principles and critical awareness, and apply dynamics of markets. practices underpinning the arrange of skills in dealing with improvement of the standard of living. contemporary economic issues. AS Present the circular flow Examine the dynamics of Compare and evaluate South Analyse and investigate inflation, 1 model as a macroeconomic perfect markets with the aid of African growth and explain the policies that are model, deduce and analyse cost and revenue curves. and development policies in used to combat it the national account terms of aggregates, and derive and international benchmarks, and apply the multiplier. highlight the North/South divide. AS Analyse the explanations of Explain the reasons for and Discuss South Africa’s industrial Debate the economic importance of 2 business cycles and consequences of development tourism to South Africa and suggest discuss how business market failures and reflect on policies and assess their policies to promote it, referring to the cycles are used in cost-benefit suitability in terms of importance of indigenous knowledge forecasting. analysis international best practice. systems. AS Evaluate the role of the Examine the dynamics of Discuss protectionism and free Analyse environmental sustainability 3 public sector in the economy imperfect markets with the aid trade, and and investigate recent international with special reference to its of cost and revenue curves evaluate South African agreements in this regard (e.g. Rio socioeconomic responsibility international trade de Janeiro and Johannesburg in the South African context policies and major protocols in Summits). terms of these. AS Examine the foreign Analyse and discuss the South Engage in, evaluate and 4 exchange market and the African communicate economic issues of establishment of exchange economic and social the day, quantitative elements of rates, and show how the performance indicators and Economics and other essentials balance of payments their uses. account is affected.

TEACHING ACTIVITIES LEARNERS ACTIVITIES RESOURCES ASSESSMENT DATE COMPLETE D  Conducts baseline assessment  Answer questions Duster, chalk board, chalk, chart, Class work, Question & on the role played by the pens, answer foreign sector ( to show how payments and receipts are koki pens, exam pads, data projector, made) data projector slides, OHP, Page 13 of 17 Economics Term 1 Lesson Plans Grade 12 transparencies,

Quarterly Bulletin, Text books  Divides learners into 3 groups  Form groups representing countries A & B and the foreign exchange market Gives the groups activities to   Role play (Buy and sell role play Buyers, sellers and products using foreign foreign exchange market and currencies ) provides them with currencies for the two countries  Discusses reasons for  Listen, take notes, ask and international trade answer questions - Demand reasons - Supply reasons - Interaction of demand and supply with the aid of graphs - Effects of international trade  Gives learners a class work  Write class work  Explains BoP and its  Listen, take notes, ask and subaccounts answer questions - Current account - Capital transfer account - Financial account - Official reserves account  Divides learners into smaller  Form groups and answer groups and gives them an questions activity based on BoP  Defines foreign exchange  Listen, take notes, ask and markets answer questions - Concepts - Foreign exchange - Exchange rate - Revaluation - Devaluation - Appreciation - depreciation  Explains intervention in the Page 14 of 17 Economics Term 1 Lesson Plans Grade 12 market  Gives learners activity to draw  Draw the graphs and graphs showing interaction present to the class between demand & supply of foreign currencies  Explains the establishment of Listen, take notes ask questions foreign exchange rate system - Different kinds - Terms of trade - Protection - RSA’s foreign trade - Lending and borrowing

Changes in demand and exchange rates

Homework:

LEARNING OUTCOME 1: The learner is able to demonstrate LEARNING OUTCOME 2: The LEARNING OUTCOME 3: LEARNING OUTCOME 4: The learner is knowledge, critical understanding and learner is able to demonstrate The learner is able to demonstrate able to demonstrate knowledge, application of the principles, processes knowledge, understanding and the knowledge, understanding and critical understanding and critical awareness, and practices of the economy. appropriate skills in analysing the awareness of the principles and and apply arrange of skills in dealing with dynamics of markets. practices underpinning the contemporary economic issues. improvement of the standard of living. AS Present the circular flow Examine the dynamics of Compare and evaluate South Analyse and investigate inflation, and 1 model as a macroeconomic perfect markets with the aid of African growth explain the policies that are used to model, deduce and analyse cost and revenue curves. and development policies in combat it the national account terms of aggregates, and derive and international benchmarks, and apply the multiplier. highlight the North/South divide. AS Analyse the explanations of Explain the reasons for and Discuss South Africa’s industrial Debate the economic importance of 2 business cycles and consequences of development tourism to South Africa and suggest discuss how business market failures and reflect on policies and assess their policies to promote it, referring to the Page 15 of 17 Economics Term 1 Lesson Plans Grade 12 cycles are used in cost-benefit suitability in terms of importance of indigenous knowledge forecasting. analysis international best practice. systems. AS Evaluate the role of the Examine the dynamics of Discuss protectionism and free Analyse environmental sustainability and 3 public sector in the economy imperfect markets with the aid trade, and investigate recent international with special reference to its of cost and revenue curves evaluate South African agreements in this regard (e.g. Rio de socioeconomic responsibility international trade Janeiro and Johannesburg Summits). in the South African context policies and major protocols in terms of these. AS Examine the foreign Analyse and discuss the South Engage in, evaluate and communicate 4 exchange market and the African economic issues of the day, quantitative establishment of exchange economic and social elements of Economics and other rates, and show how the performance indicators and essentials balance of payments their uses. account is affected.

TEACHING ACTIVITIES LEARNERS ACTIVITIES RESOURCES ASSESSMENT DATE COMPLETED  Facilitates brainstorming on  Brainstorm on imports & Duster, chalk board, chalk, chart, Investigation and imports and exports exports learners’ books, pens, presentation, Home work, Controlled test Koki pens, exam pads, data projector, data projector slides, OHP, transparencies, Map  Leads discussion on import  Discuss, ask questions and substitution write notes - Concept - Reasons - Methods - Advantages - Disadvantages (scepticism)  Explains export promotion  Listen, take notes ask and - Concept answer questions - Reasons - Methods - Advantages - Disadvantages (scepticism)  Gives the learners an activity on  Go and conduct investigation and presentation investigation  Conduct baseline assessment  Answer questions on protection (12.1.4.)

of 17 Economics Term 1 Lesson Plans Grade 12 - Concept

Homework:

SIGNATURES:

______

of 17 Economics Term 1 Lesson Plans Grade 12