CIE3M – THE INDIVIDUAL AND THE ECONOMY – GRADE 11

Prerequisite: Canadian History since World War I, Grade 10, Academic or Applied

This course explores issues and challenges facing the Canadian economy as well as the implications of various responses to them. Students will explore the economic role of firms, workers, and government as well as their own role as individual consumers and contributors, and how all these roles contribute to stability and change in the Canadian economy. Students will apply the concepts of economic thinking and the economic inquiry process, including economic models, to investigate the impact of economic issues and decisions at the individual, regional, and national level.

The course has five strands. Instruction and learning related to the expectations in strand A are to be interwoven with instruction and learning related to expectations from the other four strands. Strand A must not be seen as independent of the other strands. Student achievement of the expectations in strand A is to be assessed and evaluated throughout the course.

Strand A . Economic Inquiry and Skill Development

Overall Expectations

A1. Economic Inquiry: use the economic inquiry process and the concepts of economic thinking when investigating current economic issues in Canada.

A2. Developing Transferable Skills: apply in everyday contexts skills developed through economic investigation, and identify various careers in which a background in economics might be an asset

Strand B. Fundamentals of Economics

B1. Scarcity and Choice: analyse the relationship between scarcity and choice and how these considerations affect economic decision making (FOCUS ON: Economic Significance; Cause and Effect) Scarcity is a fundamental economic problem and has a major impact on economic decision making. Why are there trade-offs in any economic decision? How do your personal wants and needs influence your choices as a consumer? How does scarcity affect the economies of different Canadian communities? How do political values affect economic decisions? What impact do people’s immediate and long-term financial goals have on their economic decisions?

B2. Economic Models: apply economic models to analyse economic choices and issues affecting Canada and Canadians (FOCUS ON: Cause and Effect; Stability and Variability

Strand C. Economic Challenges and Responses

C1. Market Systems: analyse how various factors, including the practices of different stakeholders, affect markets and the value of goods (FOCUS ON: Cause and Effect; Economic Perspective)

C2. Workers in Canada: explain the main roles, practices, and concerns of workers, both organized and unorganized, in Canada (FOCUS ON: Economic Significance; Economic Perspective)

Strand D. Interrelationships among Economic Citizens

D1. Producers and Consumers: analyse ways in which producers and consumers participate in the Canadian economy and some ways in which governments affect this participation (FOCUS ON: Economic Significance; Cause and Effect)

D2. Government Intervention: analyse various ways in which governments in Canada intervene in the economy as well as factors that influence this intervention (FOCUS ON: Cause and Effect; Stability and Variability)

Strand E. Economic Interdependence

E1. Perspectives on Scarcity and Sustainability: Analyse competing perspectives on scarcity and sustainability in Canada and assess their significance (FOCUS ON: Stability and Variability; Economic Perspective)

E2. Weighing Trade-offs, Making Choices: explain the criteria that governments and firms in Canada use to weigh trade-offs and make economic choices (FOCUS ON: Cause and Effect; Stability and Variability)