SANJAY GHODAWAT INTERNATIONAL
SCHOOL
CURRICULUM FRAMEWORK 2024- 2026
Subject: Economics HL/SL
Topic/Unit Content Concepts Aims & ATL Attitude & Learner Internatio TOK CAS
Profile
Name Objectives nal
Mindedne ss
Problem of What Visit to the
Introductio Understandin Economics is a social Urban Heavy
n to science characterized by Thinking Skills, Thinker Food assumptio
g the nature Scarcity ns do Industries
Economics of economics interdependence, which & Knowledgeable
economist s Department to
focuses on how people survey the
[Link] make when
interact with each other to [Link] they apply impact of
The three improve their economic /watch?v=lL economic subsidy on the
basic well-being, influenced and 0zTIbZYZM# theories to sale of EV in
economic enabled by their values and action=share the real Kolhapur.
their natural surroundings. world? (evidence in
questions:
the form of
resource The economic world is TOK feedback from
allocation dynamic in nature and PLAN: the
and constantly subject to government
The officer and
output/incom change. assumptio
customer
e distribution ns the
• Economic theories are feedback)
economist
based on logic and makes
Understandin empirical data, using while
g the world models to represent and applying
by use of analyse this complex
models reality. Individual and economi
collective motivations and c
behaviours are complex and theories
The methods to the
diverse, and their
of economics real
understanding entails the world
interaction of a variety of is,"ceteri
A brief disciplines such as s
history of philosophy, politics, history, paribus",
and psychology. where all
economic
the
thought • Economic things
decision-making impacts are kept
constant
the relative economic
except
well-being of individuals the one
and societies. variable
which is
• The central problems of under
economics are scarcity and study, if
choice. This forces ceteris
societies to face trade-offs, paribus
concept
opportunity costs and the
is not
challenge of sustainability. applied,
than the
• Debates exist in economi
economics regarding the st will
potential conflicts between not be
economic growth and able to
equity and between free prove
any
markets and government
theory it
intervention. is one of
the
assumpti
on
which is
always
required.
Micro Competitive Interaction between To what extent
Economic Markets - consumers and should the
s Demand producers in a market Government
is the main intervene in the
mechanism through
Competitive Economy
which
Markets - Thinking Skills & Research ?
resources are directed
Supply to meet the needs and Skills
Should the tax
wants in an payer decide
Elasticities economy. where their tax
.Price money to be
Elasticity of • Consumer and spent?
Demand producer choices are
Price the outcome of Learner Profile:
Elasticity of complex Knowledgeable, Thinker Tok Plan:
Supply decision-making.
Students were
• Welfare is given two
.Income articles one is
maximized if
Elasticity of allocative efficiency favoring the
Demand is achieved. intervention in
the economy
• Constant change and other is
Government produces dynamic favoring the
Intervention markets.
market forces.
in
microecono Critical
mics
thinking tool:
KIALO is
used for the
Market
debate, where
Failure and
Socially
Undesirable students
outcomes debate about
Common both sides.
Market After a
Failure and week,
Socially discussion
Undesirable takes place
outcomes based on the
points
Market mentioned in
Failure and the KIALO
socially and if any
undesirable point is
outcomes iii unclear,
(Market students
Power)
were asked
to clarify it.
TOK
concepts:
Evidence,
Perspectives
and
Justification
Macro The level 2008
Explain that the government
Economic of Overall earns revenue primarily from Recession and
s economic taxes (direct and indirect), as Slow down of
activity well as from the sale of goods the world
and services and the sale of economy after
state-owned (government
Aggregate owned) enterprises. COVID
demand
Types of government Video,
and
expenditures: Explain that
Aggregate government spending can be explaining how
Supply classified into current the 2008
expenditures, capital Recession
expenditures and transfer unfolded?
Macro
payments, providing examples
Economic of each.
[Link]
Objectives [Link]/wat
Distinguish between a budget ch?v=fXkeh8ji
(Low deficit, a budget surplus and a
Unemploym balanced budget. Explain the Mdk
en t, Low relationship between budget
and Stable deficits/ surpluses and the
public (government) debt.
rate of
inflation)
Macro
Economic
Objectives
(Economic
growth,
Sustainable
level of debt)
Economics
of inequality
and Poverty
Demand and
Supply side
policies
The Internation Change in the Thinking Skills & Research To what extent isFree trade is
Skills the UK using
Global al Trade: conditions of the advocated on
national defence
Economy Part 1 demand and supply the grounds
as a barrier to
sides of the trade? that it leads
economy cause
Internation to greater
economic activity to https://
al Trade: efficiency.
vary over time. [Link]
Part2 Yet it results
Learner Profile: Knowledgeable, m/watch?
Thinker v=HG9fvIM60k in both
Exchange 8 winners and
rate and the • Fluctuations in losers. Do
Balance of economic activity economists
impact the Trade war have a moral
payments
economic between USA responsibilit
well-being of and China y toward the
individuals and
Understand losers when
societies.
in g they
economic • Different schools advocate
developme of macroeconomic free trade?
thought identify [Link]
nt
different causes [Link]/ https://
and offer different publication/33 [Link]
solutions for the 7240206_US- [Link]/
Barriers
barriers to China_Trade_ watch?
to economic growth War_The_Tale v=ZO2-
Economi
_of_Clash_Bet XRQ4r-0
c growth
ween_Biggest_
Developed_an
d_Developing_ TOK Task:
Economies_of
_the_World
Is it ethically
sound for
economicall
y developed
Views of countries to
protectio demand that
nism less
developed
https://
[Link]
/geoe-
6NBy10
countries
remove their
trade barriers
in the
interests of
free trade
when they
continue to
provide
income
support to
their
farmers?
Can one
country
know what
is right for
another to
do?
Strategies to
Promote
Economic
Development
