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What will my child learn in year 11 Economics?

Term 1

  • To understand the purposes of government spending and sources of revenue, and what is meant by a balanced government budget, budget surplus and budget deficit
  • To understand how taxes and government spending can affect markets as well as the overall economy
  • To understand the costs, including opportunity cost, and the benefits of fiscal policy on the economy to achieve economic objectives
  • To understand the economic consequences of measures to redistribute income and wealth, including progressive taxes

Term 2

  • To understand the costs, including opportunity cost, and the benefits of monetary policy on the economy to achieve economic objectives
  • To understand the costs, including opportunity cost, and the benefits of supply side policies on the economy to achieve economic objectives
  • To understand what is meant by government policies to correct positive and negative externalities, including taxation and subsidies, state provision, legislation and regulation and information provision
  • To understand the costs, including opportunity cost, and the benefits of government policies to correct positive and negative externalities

Term 3

  • To understand why countries import and export goods and services and the benefits of this for consumers and producers
  • To understand free trade agreements including the European Union
  • To understand the balance of payments, a balanced current account, a current account surplus and current account deficit
  • To understand and analyse recent and historical data on exports and imports

     

Term 4

  • To understand globalisation, including its driving factors
  • To understand how development is measured, including GDP per capita, life expectancy, access to health care, technology and education
  • To understand the costs and benefits of globalisation to producers, workers and consumers in developed countries, including the impact on economic, social and environmental sustainability
  • To understand the costs and benefits of globalisation to producers, workers and consumers in less developed countries, including the impact on economic, social and environmental sustainability

Term 5

  • Revision

Term 6

  • Revision