Activities
Glossary of terms unit 1
Glossary terms available as a PDF file at: Unit 1 glossary...
Lesson plans
Circular flow of national income
This lesson starts the macroeconomics course. I have started this section of the course with the circular flow diagram which is an explanation of how a simple economy works. Your classes need to understand...
Activities
Circular flow of national income
The activities on this page should be used in conjunction with the teacher page: Circular flow of national income Circular flow of income - a diagrammatic illustration of a simple economy diagram. Two...
Lesson plans
Unit 1.2: Economics as a social science
This lesson is the beginning of the the IB economics course and addresses the beginning concepts of the course. It is important for your students to understand the difference between statements which...
Activities
Unit 1.2: Economics as a social science
This page should be used in conjunction with the teacher page of the same title: Unit 1.2: Economics as a social science The activities on this page are available as a PDF file at: Is economics a science ...
Lesson plans
Public and private sectors
This lesson focuses on the differences between the public and private sectors. It is important that students, by the end of the lesson, recognise the differences between the two sectors but also that:...
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Activities
Public and private sectors
This page contains the activities required to pair with the teacher page: Public and private sectors Mixed economies – an economic system that combines aspects of both the free market system as well...
Activities
Factors of production
This page contains the activities for the lesson plan Factors of production Factors of production - resources or inputs used in the production process to produce goods and services - land, labour, capital...
Lesson plans
Unit 1.1: Scarcity, choice and opportunity cost
This page looks further at the question of what is economics and given that we do not live in a perfect world, we are forced to make choices in terms of how we spend our scarce financial resources as...
Activities
Unit 1.1: Scarcity, choice and opportunity cost (activities)
To be used in conjunction with the lesson plan Unit 1.1: Scarcity, choice and opportunity cost The basic economic question - defined as limited resources and unlimited wants. Opportunity cost - the cost...