EIP Mathayom Course Description

Second Semester

Subject: Economics Department: Math

Grade: Mathayom 4 Course Code: MA31203
Periods: 4 Credit: 2

Course Description:

This course will provide students with an understanding of the way in which society organizes its
limited resources to satisfy unlimited wants. Students will be introduced to the major
characteristics of the mixed market economic system in the U.S., Thailand and other SE Asian
countries and how basic economic questions are answered. Emphasis will be placed on the
individuals role as producer, consumer, saver and taxpayer in relation to the system.

Course Objectives:

1. Define the governments economic objectives.

2. Explain economic growth and the business cycle
3. Discuss inflation, unemployment, and exchange rates.
4. Explore the redistribution of income and wealth.
5. Learn about the governments economic policies including fiscal, monetary, and supply
side.
6. Discuss market failure.
7. Develop an understanding how scarcity requires choices by both individuals and society
and describe some of the tools economists use.
8. Explain how traditional, command, market and mixed economies answer the three
fundamental economic questions.
9. Demonstrate an understanding of the law of demand and describe the factors that affect
changes in demand.
10. Explain the law of supply and describe the factors that affect the change in supply.
11. Describe how demand and supply interact in the market to determine prices.
12. Explain how economists use market structures to examine the competitiveness of an
industry.
13. Explain types of business structures and the advantages and disadvantages of each.
14. Describe how demand and supply interact in the market to determine prices.
 EIP Mathayom Course Description
Second Semester
Cambridge International AS and A Level
Economics

Chapter 1: Introducing economics

1.1 The economic problem
1.2 The production possibility curve
1.3 Some key economic ideas
1.4 Types of goods and services

Chapter 2: The nature of demand

2.1 The demand curve
2.2 The determinants of demand

Chapter 3: The nature of supply

3.1 The supply curve
3.2 The determinants of demand

Chapter 4: Market equilibrium and the price system

4.1 Market equilibrium
4.2 Example of markets
4.3 Comparative statics
4.4 Elasticity: the sensitivity of demand and supply

Chapter 20: The economic environment

20.1 The governments economic objectives
20.2 Economic growth and the business cycle
20.3 Inflation
20.4 Unemployment
20.5 Exchange rates
20.6 Redistributing income and wealth
20.7 The governments economic policies

Grade breakdown:
Chapter 1-3 test 10%
Chapter 4 and 20 test 10%
Project work 20%
Homework 15%
Participation 5%
Midterm exam 20%
Final exam 20%