St. Joseph School, Blata l-Bajda
Economics Scheme of Work: Form 3
Economics Scheme of work for form 3:
2015-2016
2015-2016
Textbook used:
Cambridge IGCSE and O Level Economics: - Paul Hoang and Margaret Ducie.
First term: September – January
Module 1: The Economic problem
o
o
o
o
o
Needs and wants: umlimited wants
Resources: limited resources
Scarcity
Factors of production
Classification of goods
Module 2: Allocation of Resources
o
o
o
o
o
o
o
The 3 questions faced by an economy
Economic systems – an introduction
Free Market Economy
Centrally planned economy
Mixed Economy
Market system – advantages
Market failure – disadvantages
Module 3: Production
o
o
o
o
o
Introduction: meaning of production, producer, inputs & output.
Specialisation & self sufficiency
Division of labour
Advantages and disadvantages of division of labour
The stages of production: primary, secondary and tertiary
Module 4: Finance
o The Barter System and its weaknesses
o The History of Money
1
Ms. Roberta Darmanin & Ms. Cristina Spiteri
St. Joseph School, Blata l-Bajda
Economics Scheme of Work: Form 3
2015-2016
Second term: February – March
Module 4 Finance continued
o
o
o
o
o
o
The functions of Money
The qualities of money
The commercial Banks
The Central bank
Meaning of stock bonds & shares
The stock exchange
Module 5 Business organisations
o The sole trader: features, advantages, disadvantages
o Partnership: features, advantages, disadvantages, and the partnership deed
o The Company: the meaning of share capital, formation of companies and
documents involved
 The Private Limited Company: features, advantages, disadvantages
 The Public Limited Company: features, advantages, disadvantages
 The difference between a private and a public limited company
o Multinationals: features, advantages and disadvantages
Third term: April – June
Module 5 Business Organisations continued
o Co-operatives: history, types of co-operatives, features, advantages and
disadvantages.
o The Public sector: departments, local councils and agencies
o The Public corporation: features, advantages and disadvantages
Module 6 Population
o
o
o
o
o
o
o
o
2
Introduction to population, and its importance to the study of economics.
Changes in size of population
The population Pyramid
Economic effects of population change
Developed and developing countries
Changing size of population
Population structure
Living standards
Ms. Roberta Darmanin & Ms. Cristina Spiteri