MAZ INTERNATIONAL SCHOOL SHAH ALAM
2018-2019 SECOND TERM SCHEME OF WORK
SUBJECT
SECONDARY
WEEK
: Economics
: Form 4
MINUTES
PER WEEK
TOPIC / SUB TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
3. Microeconomic decision
makers. 3.1 Money and
Banking. Money
To understand the need of money
to do trade and how it overcame
the problems of barter trade. To
understand the different functions
and characteristics of money. To
realize the importance of money
and how it encourages
specialization. To understand what
money market is and to familiarize
terms like cash financial assets,
liquid assets, near money, physical
assets.
To understand the basic functioning
of a bank and how it makes money.
To understand the different types
of banks –commercial, central
bank, credit union, Islamic bank,
investment banks, mutual societies.
To be thorough with the
functioning of a central bank. To
understand the definition of
disposable income. To understand a
person’s consumption of goods and
services. To analyze person’s
spending patterns.
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
activity topics in the textbook and
exam preparation questions.
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
123-136
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
activity topics in the textbook and
exam preparation questions.
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
136-150
WEEK 1
3.1 Money and Banking.
What is a bank? 3.2
Households. The
influences on spending.
WEEK 2
WEEK 3
3.2 Households. Recent
trends in consumer
spending. The influences
on saving.
To understand the causes of
changes in consumer spending. To
realize the factors affecting a
person’s savings and borrowing
patterns.
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
RESOURCE MATERIALS
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
150-163
MAZ INTERNATIONAL SCHOOL SHAH ALAM
2018-2019 SECOND TERM SCHEME OF WORK
activity topics in the textbook and
exam preparation questions.
3.3 Workers. Factors
affecting an individual’s
choice of occupation.
Wage determination.
Reasons for differences in
earnings.
WEEK 4
WEEK 5
3.3 Workers. Reasons for
differences in earnings.
Investigating wage
differentials. Division of
labour and specialization.
3.4 Trade unions.
Definition of a trade union
and its role in an economy.
To understand the decision to
supply labour and the different
types of wage rates. To understand
the different types of non-wage
factors. To understand the labour
market and the factors affecting
the supply and demand for labour
in the market. To understand
occupational wage differentials and
why people doing the same job
might be earning different salaries.
To understand government
intervention in labour markets.
To understand the reasons for
different wages between different
group of people like younger and
older workers, male and female,
skilled and unskilled, public sector
and private sector, industrial wage
differentials. To understand the
division of labour in production
process, advantages and
disadvantages. To understand
occupational specialization of
labour, its advantages and
disadvantages. To understand
clearly the definition, roles and
functions of a trade union. To know
the different types of trade unions.
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
activity topics in the textbook and
exam preparation questions.
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
163-179
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
activity topics in the textbook and
exam preparation questions.
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
179-192
MAZ INTERNATIONAL SCHOOL SHAH ALAM
2018-2019 SECOND TERM SCHEME OF WORK
WEEK
WEEK 6
WEEK 7
MINUTES
PER WEEK
TOPIC / SUB TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
3.4 Trade Unions.
Definition of a trade union
and its role in an economy
What is collective
bargaining? 3.6 Firms and
production. Production
and productivity. Labour
intensive and capital
intensive production.
Demand for factors of
production.
To understand the process of
collective bargaining and its
requirement in situations of
industrial disputes. To understand
what are the different types of
industrial actions that follows an
unsuccessful negotiation between
the employee and the employers.
To realize the advantages and
disadvantages of trade union
activities. To understand how
production adds value to resources.
To understand how firms specialize.
To familiarize factor productivity
and how to measure productivity.
To understand the pros and cons of
labour and capital intensive
production.
To realize the determinants
affecting the demand for factors of
production. To be able to
understand when factor
substitution is involved. To
understand fixed costs, variable
costs, average costs, profit, loss,
break-even.
To understand the motivating
factors of firms to produce goods
and services.
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
activity topics in the textbook and
exam preparation questions.
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
193-195, 219-227
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
activity topics in the textbook and
exam preparation questions.
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
227-241
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
activity topics in the textbook and
exam preparation questions.
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
242-246
3.6 Firms and Production.
How can firms increase
factor productivity? 3.7.12 Definition and
calculation of costs of
production.
3.7.5 Objectives of firms.
Revision for the chapter.
WEEK 8
RESOURCE MATERIALS
MAZ INTERNATIONAL SCHOOL SHAH ALAM
2018-2019 SECOND TERM SCHEME OF WORK
3.8 Market structure and
monopoly. Monopoly
markets. 3.8.1 Competitive
markets
WEEK 9
WEEK 10
4. Government and the
macroeconomy. 4.1 The
role of government. 4.2
The macroeconomic aims
of government. 4.2.2
Possible conflicts between
macroeconomic aims
To understand market structure
and the different ways in which
firms compete with each other. To
understand what are monopolies
and its features while comparing
with perfect competition. To
understand the different ways in
firms set prices, product
differentiate and compete to gain a
greater market share. To
understand how monopolies act as
barriers to other firms artificially
and naturally. To know if a
monopoly is advantageous or
disadvantageous to the economy.
To understand the role of the
government as an employer,
producer, provider, consumer, lawmaker and regulator, tax setter and
collector. To understand the
macroeconomic aims of the
government and how they are
achieved through supply side and
demand side policies. To
understand the possible conflicts
between macroeconomic aims.
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
activity topics in the textbook and
exam preparation questions.
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
246-266
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
activity topics in the textbook and
exam preparation questions.
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
268-280
MAZ INTERNATIONAL SCHOOL SHAH ALAM
2018-2019 SECOND TERM SCHEME OF WORK
WEEK
WEEK 11
WEEK 12
WEEK 13
WEEK 14
MINUTES
PER WEEK
TOPIC / SUB TOPICS
4.3 Fiscal Policy.
Classification of taxes.
Impact of taxation. 4.3.1
Definition of budget.
Reasons for government
spending. Reasons for
taxation. Principles of
taxation. Classification of
taxation. Impact of
taxation.
4.3 Fiscal Policy. Definition
of fiscal policy. Fiscal
policy measures. Effects of
fiscal policy measures on
government
macroeconomic aims.
LEARNING OBJECTIVES
LEARNING ACTIVITIES
To explain the meaning and
purpose of a government budget.
To identify the main areas of
government spending and the
reasons for and effects of spending
in these areas. To understand how
taxation is used to finance
government spending, influence
market outcomes and re-distribute
incomes. To describe the qualities
of a good tax. To identify and
contrast the main types of tax. To
analyze the impact of taxation of
producers, consumers, government
and the macroeconomy.
To describe the instruments of
fiscal policy and their impact on the
budget balance and imbalance. To
analyze how fiscal policy measures
may be used by a government to
achieve its macroeconomic aims.
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
activity topics in the textbook and
exam preparation questions.
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
281-295
Topics are discussed in detail and
noted into the student’s
notebooks. Questions are written
into the notebook and are to be
answered promptly. Discussion of
activity topics in the textbook and
exam preparation questions.
Complete economics for
Cambridge IGCSE and O
level. Third Edition. Pg.
295-308
SECOND TERM EXAMINATION.
RESOURCE MATERIALS