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Economics Planning: Term Four(4)

Date
w/c 30 Mar- 4 Apr
week 1

w/c 6st Apr-11 Apr


week 2

Topic and Guidelines((also refer to Course Plan and Document on


Criteria of Success)
Integrate: LO1,2,3 and 5( 11.4A in Course Plan)
LO 1(11.4A) : Describe the nature of the factors of Production(Formative Topic).
LO 2 (11.4A): Know the types of income of the owners of
resources:
- Factor incomes: wages, rent, profit, and interest
LO 3(11.4A): Explain the peculiarity of resource markets,
particularly the labour market:
- Derived Demand and marginal revenue product theory
LO 5(11.4A): Apply graphs of changes of market conditions
to analyse the operation of factor markets- Wages, Demand for
labour, Supply of labour
Intergrate: LO 3 & 4(11.4B in Course Plan)
LO : 3 Distinguish private and public goods and their
characteristics(Formative Topic)
- Describe characteristics of private goods and Public goods
and ask learners to provide examples.
LO: 4 Distinguish merit and demerit goods and their
characteristics:
- Give a definition of both merit goods and demerit goods,
along with their main characteristics.Learners provide
examples
- Illustrate how these goods might impact on market

Formative
Formative 1
-on LO 1(11.4A in Course
Plan)

Formative 2
-on LO 3(11.4B in Course
Plan)

efficiency
and cause market failure( Important concept)

w/c 13th Apr- 18th Apr


week 3
1

Intergrate: LO 1& 2(11.4B in Course Plan)


LO 1and (11.4B) Understand other reasons for market failure-

Formative 3 AND 4
integrated

Economics Planning: Term Four(4)

w/c 20th Apr-25TH Apr


week 4

w/c 27nd Apr- 2ND May


week 5
w/c 4TH May- 9th May
week 6
w/c 11th May-16th May
week 7
w/c 18th May-23 May
week 8

-Market failure and Types of failure


-on LO 1 and LO 2(11.4B)
LO 2(11.4B) Explain the origin of external positive and
negative effects ( externalities )
- formal definition of an externality and four different types of
externality
Note: Formative Task on both LOs
Integrate: LO 5& 6(11.4B in Course Plan)
Formative 5 AND 6
LO 5: Analyse how government corrects market failureintegrated
-Produces diagram which incorporates all the different types of market - on LO 5 and LO 6(11.4B)
failure.
-Ask groups to carry out research to locate at least one government
policy which can be used to show how governments can help to
correct market failure
LO 6 : Evaluate the effectiveness of government
intervention - Do Casestudy(See example in Course Plan)
Note: Formative Task on both LOs
LO 4(11.4A): Identify the role of the firm in industrial relations-

REVISION
SUMMATIVES
SUMMATIVES

No Formative required
in terms of Document of
Criteria of Success

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