Doc. No. Issue No. Revision No. Department: 12 IB Economics Date of Effectivity MONTHLY FORECAST SY 2023- 2024 Week May and June ● ● 7.7 Government intervention in response to abuse of power ● ● ● ● ● ● 28-8-2023 TERM \Skills 7.6. Oligopoly 01 00 Page 1 of 6 Third Topic/Skills 1 Sept 3-7 MONTH QR-AAD-032 Define the terms payoff matrix, collusive oligopoly, collusion, non-collusive oligopoly, concentration ratio, market concentration Distinguish between collusive and noncollusive oligopoly and draw a diagram showing collusive oligopoly [AO2, AO4] Explain features of oligopoly including interdependence, risk of price war, and incentive to collude versus incentive to cheat [AO2] Explain the relevance of price and non-price competition for firms in oligopoly [AO2] Explain the presence of allocative inefficiency and market failure [AO2] Explain the simple game theory payoff matrix [AO2] Explain the meaning of market concentration and concentration ratios [AO2] Discuss advantages and disadvantages of oligopoly [AO3] Reference/ Pages ● Online videos ● Presentation ● Online games ● Kahoot ● Kognity ● PPT ● Padlet ● Jamboard ● Google Form ● Wordwall Test Schedule This is a quality document. 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No. Issue No. Revision No. Department: 12 IB Economics Date of Effectivity MONTHLY FORECAST ● ● ● ● 2 Unit 3 - Macroeconomics ● Sept 10-14 Chapter 8 - The level of overall economic activity 8.1 Economic activity 8.2 Measure of Economic activity ● Define the terms abuse of market power Discuss advantages of large firms with significant market power, including economies of scale and investments in R&D financed by abnormal profits, innovation [AO3] Discuss risks with respect to output, price, consumer choice i markets dominated by large firms [AO3] Discuss advantages and disadvantages of government intervention to deal with abuse of market power including legislation and regulation, government ownership, fines [AO3] Review the circular flow of income model introduced in Chapter 1 and draw a diagram of this model [AO2, AO4] Define the terms expenditure approach, income approach, output approach, consumption, QR-AAD-032 01 00 28-8-2023 Page 2 of 6 ● Quizlet ● kahoot ● Online videos ● Presentation ● Online games ● Kahoot This is a quality document. 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No. Issue No. Revision No. Department: 12 IB Economics Date of Effectivity MONTHLY FORECAST ● ● 1) 2) 3) 4) 5) 6) 3 Sept 17-21 8.3 Calculation based on national income accounting 8.4 the business cycle 8.5 National income statistics and alternative measures ● ● investment, net exports, grow national income, nominal value, real value, purchasing power parties Explain the expenditure, income and output approaches to measuring GDP in national income accounting and show their equivalence using the circular flow of income model [AO2, AO4 Explain the following measures [AO2] Nominal gross domestic product GDP Nominal gross national income GNI Real GDP and real GNI Real GDP and real GNI Real GDP and real GNI per person [per capita] Real GDP and real GNI per person [per capita] at purchasing power parity [PPP] Calculate the following measures [AO4] Planet index, Evaluate the appropriateness of GDP or GNI statistics for the purpose of [AO3]: 1) Measuring economic well-being over time 2) Comparing economic well-being across countries QR-AAD-032 01 00 28-8-2023 Page 3 of 6 ● Kognity ● PPT ● Padlet ● Jamboard ● Google Form ● Wordwall ● Quizlet ● kahoot ● Online videos ● Presentation ● Online games ● Kahoot ● Kognity This is a quality document. 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No. Issue No. Revision No. Department: 12 IB Economics Date of Effectivity MONTHLY FORECAST ● Explain alternative measures of well-being including [AO2] 1) The OECD better life index 2) The happiness index 3) The happiness planet index 4 Sept 24-28 Chapter 9 - Aggregate demand and aggregate supply 9.1 Aggregate demand and the aggregate demand curve ● Define the terms aggregate demand, determinants of aggregate demand, consumer confidence, household indebtedness, income taxes, corporate indebtedness, business confidence QR-AAD-032 01 00 28-8-2023 Page 4 of 6 ● PPT ● Padlet ● Jamboard ● Google Form ● Wordwall ● Quizlet ● kahoot ● Online videos ● Presentation ● Online games ● Kahoot ● Kognity ● Explain the aggregate demand curve in terms of its components: consumption [C], This is a quality document. Revision of this document should undergo the standard procedure. The original copy of this document is filed at the office of the Principal’s Office. 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No. Issue No. Revision No. Department: 12 IB Economics Date of Effectivity MONTHLY FORECAST investment [I], government spending [G], net exports [X-M] [AO2] ● Explain the determinants of the components of aggregate demand [AO2] 1) Consumption [C] - consumer confidence, interest rates, wealth, income taxes, level of household indebtedness, expectations of future price level 2) Investment [I] - interest rates, business confidence, technology, business taxes, level of corporate indebtedness 3) Government [G[ - political and economic priorities ● Explain macroeconomics equilibrium in the short run [AO2] QR-AAD-032 01 00 28-8-2023 Page 5 of 6 ● PPT ● Padlet ● Jamboard ● Google Form ● Wordwall ● Quizlet ● kahoot Term 3 exam ● Draw a diagram illustrating short run equilibrium and changes in short-run equilibrium [AO4] Chapter 9 - Aggregate demand and aggregate supply 9.1 Aggregate demand and the aggregate demand curve 4) Net exports [X-M] = income of trading partners, exchange rates, trade policies ● Explain shifts in the aggregate demand curve by reference to changes in the determinants of the components [AO2] ● Online videos ● Presentation ● Online games ● Kahoot This is a quality document. 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No. QR-AAD-032 Issue No. Revision No. Department: 12 IB Economics Date of Effectivity 01 00 28-8-2023 MONTHLY FORECAST ● Page 6 of 6 Draw the aggregate demand curve and shifts of the aggregate demand curve [AO4] ● Define the term indirect taxes, short aggregate supply, macroeconomics equilibrium,SRAS curve ● Explain the short run aggregate supply curve SRAS curve [AO2] ● Explain the determinants of the SRAS Curve: [AO2] 1) Costs of factors of production 2) Indirect Taxes ● Explain shifts of the SRAS curve by reference to changes in the determinants [AO2] ● Draw the SRAS curve and shifts of the SRAS curve [AO4] ● Kognity ● PPT ● Padlet ● Jamboard ● Google Form ● Wordwall Prepared by: Reviewed and Verified by: Name of Teacher: Mr. Blaise Batupe Date: August 28, 2023 Subject Coordinator: Ms. Hamda Maqsood Ahmad Date: Sept 30, 2023 This is a quality document. Revision of this document should undergo the standard procedure. The original copy of this document is filed at the office of the Principal’s Office. The user should secure the latest revision of this document from the AAD office.
