Induction Course for New PSHE Subjects:
Economics Panel Chairpersons
Part 1: Learning and teaching:
 Adoption of wide range of learning and
teaching strategy
 Lesson observation in Economics
 Sharing session
EDB
1
Existing situations

Old AL Curriculum and NSS Curriculum

Is Economics a popular subject in schools?

Can the teaching/learning resources or strategies for AL
be used in NSS Economics?

What is a good curriculum design for your school?

How to teach ( abstract) economic concepts/theories?

What are the suitable learning and teaching strategies to
help students learn and understand?

How to assess learning effectiveness?
EDB
2
Popular teaching resources/strategies
• Class discussion and applying study skills - such as drawing
mind maps and note-writing skills
• Video - e.g. income inequality, money, HKMA , HK
manufacturing industries and etc
• Sound track ( radio ) – e.g. LTV Café
• Extra-curricular activities – e.g. Company Programme ( JAHK)
• News
• Student presentation – e.g. price controls
EDB
3
Popular teaching resources/strategies
•
•
•
•
Websites
Dictionary – e.g. meaning of “market”
School visits – e.g. Coca Cola, HKMA, HK Printing Ltd.
Knowledge in other academic subjects such as Chinese History
( e.g. 兩稅制、租庸調 – tax incidence, tax principle and types
of tax)
• Market survey e.g. find the prices of some selected products
( with different sizes ) and photocopying cost – concept of
economies of scale
• etc
EDB
4
Sample 1: class discussion ( from students’
life experience to economic concept )
Topic:
Problems of resource allocation ( Basic problems of
resource allocation )
Reason:
To those S4 students, Economics is a totally new school
subject and it is NOT a nice idea to “hard sell”
economic concepts to them. So I use a discussion topic
to introduce the “three basic economic problems –
what, how and for whom to produce” and the concept
about the “problems of resource allocation”.
EDB
5
Problems of Resource Allocation
Task: Your class is going to have a class party. As the chairperson of
your class committee, you are planning for the party. In the space
below, draw a mind map to show your plan. You should include
items like the resources needed; food, games and activities; people
being invited and others in the mind map.
1. Mind map for the party
Economic systems
6
2. How is the above mind map related to the study of economics?
Economic systems
7
Revision
The Basic economic Problems:
Scarcity means that the quantity of a
resource or good is NOT enough to
satisfy human wants. So more of it is
preferred.
Scarcity
Meaning
It is because human wants are
unlimited but resources are
limited.
Reason
We have to make choices. We have
to decide which want(s) to satisfy
and which to give up.
Result
three
_________
basic economic problems:
1.
what to produce?
2.
how to produce?
3.
for whom to produce?
Economic systems
8
Sample 2: use examples commonly used in
setting exam papers ( HKCEE )
Topic:
Price and non-price competition / allocation
Reason:
The examples are used in public examination
papers and are also closely related to our
everyday lives.
EDB
9
Examples of “for whom to produce” problem
• I want to attend Eason’s concert.
• I want to live in a public housing unit in Hong Kong.
• I am sick. I consult the outpatient clinic (門診部) of a public
hospital(公立醫院 ).
• I am a real estate (地產 ) developer (發展商 ). I am
planning to build several residential( 住宅) buildings in
Yuen Long.
• I want to study in the University of Hong Kong.
• I want to win Mark Six.
• ……
Economic systems
10
“I want to live in a public housing unit in Hong Kong.”
Are you qualified?
Not everybody is qualified for a public
housing unit.
There is a maximum income limit and number
of family members has to be specified.
Of course, you have to pay the rent, which is
cheaper than the market rent of private
housing unit.
Economic systems
11
“I am sick. I consult the outpatient clinic (門診部) of a
public hospital ( 公立醫院 ).” Are you qualified?
Everybody is qualified.
The services are allocated on a first come first
served (先到先得 ) basis.
Of course, you have to pay the consultation
fees ( 診金), which is much cheaper than the
fees of private clinic.
Economic systems
12
“I am a real estate (地產 ) developer (發展商 ). I am
planning to build several residential( 住宅) buildings in
Yuen Long.” What do you need to do?
Land in Hong Kong belongs to the government.
Land is sold by the government in land auction
( 士地拍賣).
Land is sold to the estate developer (地產發展
商) who bids the highest price (價高者得 ).
Economic systems
13
“I want to study in the University of Hong Kong.”
Are you qualified?
You have to meet the entrance requirement
(入學條件 ).
A university place is allocated to a person
with good academic result (學業成績 ).
Economic systems
14
“I want to win Mark Six.” What do you need to do?
You have to buy the “ticket”.
The numbers will be randomly drawn. If you
have selected to buy these numbers, you win
the lottery (彩金 ).
This method of allocation is drawing lot or
lucky draw (抽籤 ).
Economic systems
15
Classifying the methods of allocation
Price allocation
You have to offer one good
( e.g. $ money ) in exchange
for another thing.
e.g. I pay $10 to buy a
hamburger.
What is price?
Price is the exchange
ratio/rate between goods.
Non-price allocation:
• queuing or first come first
served
• age
• ability
• beauty
• gender ( sex )
• lucky draw
• needs
• seller’s preference
• rank
• etc
Economic systems
16
Sample 3: use of news articles
Topic:
Interest is the cost of earlier availability of
resources ( AL Topic - “Capital, Interest and
Investment Decisions” )
Reason: Is it really inappropriate or even
impossible to teach this concept under the topic
“ NSS - Basic Economic Concepts”?
EDB
17
Prior knowledge :
Economic and free goods, opportunity cost
and meaning of consumption
Consumption means that a consumer uses goods and services to
more economic goods to less.
satisfy his/her wants. Consumers prefer ____
Task 1:
You help Ms. Wong clean the room and she will pay you.
Help me clean the room today
and I’ll give you
Two options:
Option 1: HK$300 now.
(1).
Option 2: HK$300 a week later.
Which option will you choose? Give ONE reason why you
choose the option.
How many of you choose “Option 1” ?
ALL! Right?
How many of you choose “Option 2”?
Possible reasons:
I am afraid that Ms. Wong may break her promise.
I am afraid that Ms. Wong may forget to give me the money
next week.
I can put the money in the bank now and earn “interest”.
I do not want to wait.
Ms. Wong may get fired next week.
I can use the money now.
EDB
19
Help me clean the room today and I’ll give you
Option 2: HK$300 a week later.
(2) Ms. Wong wants to persuade you to choose “Option 2”. Give
ONE possible situation why you will accept this option.
Ms. Wong invites me to lunch.
Ms. Wong gives me a gift.
Ms. Wong gives me more than $300.
20
Objective of “Task 1”:
Concept of earlier availability
Option 1: HK$300 now
Option 2: $300 + a week later
(1) Which option will you choose? Give ONE reason why you choose
the option.
Option 1 because I can use the money earlier.
(2) Ms. Wong wants you to choose “Option 2”. Give ONE possible
situation why you will accept this option.
I will take Option 2 if Ms Wong gives me something more
( $300 + a bit more ).
21
Task 2:
“I am now earning $10 000 per month and I want to buy a new
car which costs $120 000.Can I own this car now?” How?
Yes. You can borrow money from a bank. Then you pay back
the bank ( principal + interest ) by instalments.
(Pay interest to get things earlier)
Task 3:
“If I deposit (
) $10 000 in a bank, how much do I get
back one year from today if the interest rate is 5% p.a.”
You will get back $10 000 ( 1 + 5%) = $10500 one year later.
(Earn interest if you do not use the money now.)
Objective of Task 2 & 3:
Concept of interest
22
Early consumption or later consumption
Early consumption means that a person chooses to consume
_____________
more
goods and services now.
Later or future consumption means that a person chooses to
in the future
consume_______________
more
goods and services ________________.
Task 1:
a.
You are willing to choose “Option 1” – receive $300
now because
you can use the money earlier ( early consumption)
b.
You are willing to choose “Option 2” – receive
$300 later because
you can have more future or later consumption.
EDB
23
Task 2:
I can consume more goods earlier ( early consumption) if
I borrow from a bank. Then I return the money to the bank
by instalments. The money includes the principal and
interest.
Task 3:
less
If I put my money in a bank, I will consume ____________
now since the money is kept in the bank. But a year later, I
can consume _________________
because I can receive
more
interest
_______________.
That means I can have more
later/future
______________
consumption.
EDB
24
Interest as the price or cost of earlier consumption or earlier
availability
Examples:
(1)
If I borrow money from a bank to buy a car, I have
interest
to pay an _______________
to the bank. The
amount I pay depends on the interest rate, the
amount borrowed ( called principal) and the time
of repayment.
In this case, I have earlier consumption but I have
interest
to pay an _________________.
So interest is the price or cost I pay to have earlier
consumption.
EDB
25
(2)
If I deposit my money in a bank, I give up
_________________
consumption because I cannot use
present/early
the money to consume now but I will receive
interest
_____________
from the bank. The amount I receive
depends on the interest rate, the amount of deposit and
the time period.
future
In this way, I can have more __________________
consumption.
So interest is the price which compensates me for
deferring my present consumption.
EDB
26
Exercise : Interest as the cost of earlier availability
Read the following Sources and answer the questions.
Source A.
【本報訊】「毋須入息證明、毋須抵押、低息貸款。」大耳窿
年息 540厘 債仔包括紀律部隊成員
一借一還從不見面
其中一名報案債仔是 28歲的女文員，她在 07年底根據廣告提供
的聯絡方法向集團借了 8千元，集團要求她以傳真方式提供個人
資料進行審查。手續完成後，集團將貸款直接存入女事主的銀
行戶口，之後女事主須每 10日將 1,200元利息存入集團指定的銀
行戶口中，如此，雙方一借一還過程中，完全沒有見過面，相
信集團目的是減低被捕風險。女事主一年內先後共還了 4萬多元，
但其後因無力還款被集團成員用手機向她及其擔保人進行恐嚇，
並指她還欠 7萬元未還，換言之她一年共要還款達 11萬元，是
她當日貸款的 14倍，即年利率高達 540厘，女事主恐怕泥足深
陷，於是在去年底報案。警方連日拘捕 7名集團成員，揭發受害
債仔超過 150人，據悉當中有警員、消防員及懲教員。
EDB
27
高利貸集團放數資料
女債仔 07年借款 8,000元
每 10日須還息 1,200元
一年共還息（ 1,200X36期） 43,200元
年利率 540厘， 08年尚欠 70,000元
( Source: modified and shortened from Apple Daily 31 July
2009)
EDB
28
Source B
樓按低息戰未停止
•新盤群起開動，吸引投資者及用家入市，銀行為搶奪市
場客源，不惜推出低息優惠等吸客。
•由於各大中小銀行持續水浸，樓按市場便直接成為目標，
各家銀行將夥拍發展商及代理或按揭公司等推出貼身的按
揭優惠，務求在今次樓市復甦時搶奪市場佔有率。
•業界指出，發展商與銀行的合作明顯積極，各大銀行除
推出低處未見低的低息樓按外，還推出現金回贈、首兩年
免息免供、採用優惠利率、定息及銀行同業拆息等五花百
門等方式吸客，由於銀行之間的樓按競爭轉趨激烈，相信
低息樓按計畫陸續有來。
(資料來源:撮寫自星島日報，31-7-2009)
EDB
29
i.
Refer to Source A, complete the following table
Item
Principal
Principal
outstanding
Amount ($)
Item
Amount ($)
8 000
Interest per
day
70 000
Total interest
43 200
Interest rate
540%
EDB
120
30
(1)
From Source A, does the woman prefer earlier consumption
or later consumption? Explain your answer with the
evidence from Source A.
She prefers earlier consumption because she borrows
money and pays an interest.
(2)
What price does the woman pay for her choice?
She has to pay very high interest. This is the cost
of her choice.
(3)
What advice would you give to the woman to reduce the
cost of her choice?
Free response
EDB
31
ii.
Refer to Source B.
(1)
How does the change in interest rate affect the
cost of borrowing from these banks to buy
properties?
(2)
Does the change in interest rate encourage more
present or future consumption?
(3)
Does the change in interest rate encourage people to
buy properties? Why?
(1) The cost of borrowing from banks decreases as the interest rate
falls. The money repaid to banks is smaller.
(2) The fall in interest rate encourages people to borrow money. So
this encourages more present consumption.
(3) The fall in interest rate encourages people to borrow money to
buy properties earlier because the cost is lower.
EDB
32
Sample 4: Use of websites and radio
sound track
Topic:
Corporate social responsibility ( New NSS Topic
under Item (B) Firms and Production)
Questions:
Do firms have similar corporate social responsibility?
Why do firms need to bear corporate social
responsibility?
EDB
33
Corporate social responsibility (
) - Meaning
• http://www.csrinhongkong.com/default.htm
• http://www.hongkongairport.com/eng/csr/index.htm
l
• http://www.bochk.com/web/common/multi_section
.xml?section=about&level_2=corporate_citizenship&f
ldr_id=125
• http://www.swire.com/eng/csr/swirecommunity.htm
• http://www.standardchartered.com.hk/sustainability
/en/
• http://www.hkfairtradepower.com
Firm objectives and profit maximising
output
34
樂施會「咖啡貿易要公平」運動
咖啡貿易是樂施會「貿易要公平」運動的第一輪大型公眾行動。
自2002年10月開展以來，樂施會聯同美國、英國、西班牙、荷
蘭等地樂施會；通過公眾教育、宣傳推廣、政策遊說、以至消
費者行動等不同途徑要求四大咖啡焙炒商以合理價格向農民訂
購咖啡豆；並要求各國政府及國際組織支援咖啡農；發達國家
減低關稅和貿易壁壘。
•
樂施會出售的「公平咖啡」是東非坦桑尼亞的卡蓋拉合
作社聯盟收購。
•
樂施會以每包1.41美元的價格向卡蓋拉合作社聯盟(三萬
名咖啡農)收購，為市價的三倍。
•
卡蓋拉合作社聯盟會將四分之一的利潤作農民借貸、學
校建設、改善衛生等對社區長遠發展有利的用途，其餘
的利潤則會分發給農民。
•
樂施會「公平咖啡」的售價為每包15元正，每包「公平
咖啡」包含十小包即溶咖啡。
Textbook
HSBC avoids lending to or investing in projects that may cause much
environmental damage-e.g. pollution of land, water and air and depletion
of resources. In addition, it actively its employees in community services
and invests in youth education.
CLP Group provides a reliable supply of electricity to the public and makes
contributions to the community by organising voluntary work, providing
environmental education and charity donations.
CLP volunteers provide electricity safety inspection services to the elderly
living alone in public housing estates
36
ii. Find and summarise the corporate social responsibility of the
following organizations ( from the powerpoint) below.
Name of business
ownership
1. Oxfam
Corporate social responsibility
2. Hong Kong
Airport
Authority
Firm objectives and profit maximising
output
37
Name of business
ownership
Corporate social responsibility
3. Bank of China
( Hong Kong)
4. Swire Group
5.
Standard
Chartered Bank
Firm objectives and profit maximising
output
38
Name of business
ownership
6. HSBC
Corporate social responsibility
7. CLP Group
iii. Suggest a major reason why a company should bear corporate
social responsibility. Free response
They want to build up their company image in the mind
of potential investors and customers.
Firm objectives and profit maximising
output
39
再有第13名富士康員工自殺！
• 富士康董事長郭台銘親自到深圳廠房，了解員工
自殺事件。但他的到訪不但沒有解決問題，反而
再有員工接連自殺。
• 本月26晚，廠區出現「第12跳」，一名23歲，姓
賀的員工，從7樓宿舍陽台墜樓身亡。據悉該員工
是去年6月入廠。至昨日凌晨，廠內傳出有第13人
割脈自殺……
--資料來源：撮寫自《文匯報》，28-5-2010
RTHK: LTV Café – Corporate Social Responsibility ( 29
May 2010)
EDB
40
Students’ Role
 Make pre-lesson preparation – tasks in
worksheets
 Take part in class discussion and share ideas
with classmates
 Read textbook – it is students’ duty to read their
textbooks ( developing reading habit)
Worksheets are designed to help students
understand the textbooks more easily.
 Exercise after each topic
 Test after each topic
EDB
41
Sharing resources with teachers of Econ
Department
• Video bank in school intranet – free access to teachers
e.g. video clips of EDB, RTHK, some downloaded from TV /
youtube and other sources.
• Class-based worksheets – meet the needs of students of
different abilities and the teaching pace of teacher
• Share teaching strategies, resources and expertise
e.g. topic on externalities – share the experience ( teaching AL
students ), techniques and resources ( a new ppt ) with the
panel members
• Talk to panel members frequently to understand their
difficulties and problems and share with them some good
practices
42
NSS Economics Self Evaluation for Students (2009-2010)
Objectives of the survey:
 to collect information on students’ learning difficulties and interest in the
subject
 to help teachers devise appropriate teaching and learning materials and
strategies
 to motivate students to reflect on their studies, including their strengths
and weaknesses .
Name: ________________________
Section A:
Put a in an appropriate box below.
1. I am interested in studying NSS Economics:
2.
Class: _________
I have been working hard and doing well throughout this term in the
subject.
EDB
43
3.
I find the notes and exercises very useful in helping me understand the
economic concepts and theories. I thus find it easier to read the textbook
by myself.
4.
I have difficulties in understanding economic concepts and organizing
answers.
5.
I have more difficulties answering multiple choice questions than short
and structured questions.
6.
I face heavy workload in the subject
EDB
44
Section B: Please feel free to write your comments/opinions/suggestions to the
following items. You can write in English or Chinese.
7. The most difficult parts of the subject are ………( e.g. what topic? Drawing D&
S diagrams and etc.) How do you overcome these difficulties?
8.
The most interesting parts of the subject are…….. (e.g. what skills do I learn?
What knowledge can I apply in my daily life and etc?)
9.
Do you always prepare for lessons? Why or why not?
10. Do you think preparing for lessons help with my understanding in class? Why
or why not?
11. 11. Give your suggestions and comments on the
notes/worksheets/exercises/tests assigned by your teacher. These should be
based on the frequency, level of difficulties, examples used and etc.
12. Evaluate briefly on how you study the subject throughout the whole school
term. Suggest ways which you can adopt to make improvement.
13. Any other comments or suggestionsEDB
45
Lesson observations
• Usually held at the end of the school term
• Two colleagues observe the lesson at the same time, if technically
possible
• Observe students’ responses to teacher’s questions.
• Have students prepared for the lessons or completed the tasks
assigned?
• Can they apply their economic knowledge to explain economic
phenomenon?
• What about teacher’s sequence of teaching and questioning
technique?
• What are the feedbacks from observing teachers?
• Complete a form to record the lesson observed and duly signed.
Students’ responses and teachers’ questioning
technique and skills to handle
contingencies
EDB
46
Part 2: Internal Assessment
•
•
•
•
Promotion of Assessment for Learning
Plans for internal summative assessment
Monitoring internal test / examination papers
Sharing session
EDB
47
Assessment for learning
Routine assessment: Exercises, worksheets and tests
 Exercises after each topic, worksheets and tests
( Sample 1 and Sample 2)
Worksheets - “grades” attained
( Grade A = 5 marks, Grade E = 1 mark)
Exercises – total marks for all exercises done in
each term to be converted to a ___ % in term total
Test after each topic – total marks also converted
to a __ % in term total
48
Sample 1
EDB
49
50
EDB
51
EDB
52
Sample 2
Sample of worksheet
Positive Statements Vs Normative Statements
Read Sources A and B and answer the questions.
Source A: Positive and normative statements
Positive statements
They are statements about facts – i.e. what is and what will be. They
do not involve any value-judgement. So they are objective
statements.
They can be refutable by facts. What does this mean?
For instance, the statement is - “There are 40 students in this class.”
We can count the number of students in this class.
(i) If there are exactly 40 students, then the statement is confirmed.
(ii) If there are only 30 students, then the statement is refuted by fact.
Therefore, positive statements are refutable by facts.
53
Normative statements
They are statements about what should be or ought to be. They
involve value judgement and thus are subjective. People can have
different opinions or preferences so normative statements CANNOT
be refuted.
For instance, the statement is – “There should be 40 students in this
class.”
People can have different opinions.
(i) Some agree 40 students are suitable since the cost can be smaller.
(ii) Others may say the class size is too large so it is hard for the
teachers to look after each student carefully.
54
Source B: Release of HKCEE (2009) and allocation of S6 places
News 1:
考評局昨公布今年會考成績，共有11萬5千多人參
加會考，包括8萬2千多名日校考生，當中逾5萬8千
人達升讀中六的最低要求，較去年增約3千人。
但中六學額只有3萬3千多個，平均1.7人爭一學位，
競爭激烈。
今年有逾2萬2千4百名考生，考獲最佳六科獲14分
或以上成績，預料中六收生首兩個階段之後，約
67%的中六學額將被填滿。
(資料來源:撮寫自星島日報，8-5-2009)
55
News 2
•學生收到成績單，如果六科考獲14分或以上，下午1時前可以向
原校報讀中六。若想報讀其他學校，下午2時至5時及明日上午可
以申請。北區、元朗、大埔、荃灣、葵青及沙田區的聯招中心。
•中六收生程序昨日結束，目前只餘長洲佛教慧因法師紀念中學
仍有中六餘額，數目為 11個；直資的匯知中學和聖瑪加利男女英
文中小學，合共仍有 15個。
•照推算，現時仍有 2.9萬名考獲升中六資格的考生，未有中六學
位。由於只有一所公營中學仍有餘額，教育局取消中六統一派位，
考生如要報讀該 11個中六餘額，需自行到長洲慧因中學報讀。
•中六收生程序昨進入第四階段，離島區 8所中學在東涌舉行聯
招，從元朗趕到東涌的盧同學，是中五重讀生，成績反由 8分跌
至 6分，未獲離島區中學取錄，只好轉到私校試一試，「放榜前
預計有 20分，真係發夢都估唔到會落得如斯田地。」
(資料來源:撮寫自星島日報，8-8-2009)
Economic systems
56
1. Identify whether each of the followings is positive or normative
statement.
Statements
Positive or normative
i. There are more than 115 000 candidates
sitting for the HKCEE (2009).
ii. There are more S6 places than the
number of applicants.
iii. There should be more S6 places in Hong
Kong.
iv. One of the students in Source B said, “ I
should have got 20 points in this exam.”
v. There are seven “S6 Places Joint
Admission Centres” mentioned in the
news.
vi. Those who cannot find a S6 place are
unlucky.
Economic systems
57
2. Read the conversation between two students and decide
whether they are talking about positive or normative statement.
There should be more S6 places
in Hong Kong. Further the
minimum points for first round
application can be reduced from
14 to 12 points.
There are more applicants than the
number of S6 places. So many
students have to queue for S6
places. If more S6 places are
offered, then the government will
have to spend more. Will the
government raise more tax ?
Boy
Girl
58
a. The boy on the left hand side is talking about __________
statements because
b. The girl on the right hand side is talking about _________
statements because
59
c. Refer to the boy’s conversation, explain why he says, “Will
the government raise more tax?”
d. Refer to the girl’s conversation, if the minimum requirement is
reduced to 12 points for first round application, does this
reduce the competition for S6 places?
60
An example: Positive and normative aspects of a public policy.
Environmental Levy Scheme
The objective of the Levy Scheme is to provide a direct economic incentive to
encourage the public to use less plastic shopping bags.
The Levy Scheme will come into operation on 7 July 2009, and retailers
covered by the Scheme ( namely supermarkets, convenience stores, personal
health and beauty stores, drug stores, department stores, etc.) will no longer be
allowed to provide free plastic shopping bags; and they must charge their
customers an environmental levy for each plastic shopping bag they ask for.
The environmental levy is set at 50 cents for each plastic shopping bag. This
level is based on public opinion survey as well as previous voluntary
campaigns which indicated that a levy of 50 cents would create sufficient
incentive to reduce the use of plastic shopping bags on the one hand, but not
exceeding a level generally accepted by the public on the other.
(Source; Environmental Protection Department,
http://www.epd.gov.hk/epd/psb/en/environmental_admin.html, simplified
version)
61
Identify whether each of the followings illustrate positive or
normative aspect of the above policy. Put a  in the appropriate
box.
Statements
Positive
Normative
1. Plastic bags are harmful to environment.
2. The levy increases the cost using plastic
shopping bags.
3. Shops affected by the policy will have
less business.
4. Only people who buy from some shops
have to pay the tax so it is unfair.
5. Stalls in wet markets use more plastic
bags but why they are not affected by
the policy.
62
Identify whether each of the followings illustrate positive or
normative aspect of the above policy. Put a  in the appropriate
box.
Statements
Positive
Normative
6. Consumers have to pay for a better and
cleaner environment.
7. More people will use their own bags
when doing shopping in supermarkets.
8. A 50 cents levy for each plastic shopping
bag is fairly acceptable by the public.
9. The government can collect more tax
revenue from the policy.
10.Other containers also pollute the
environment. Why are they not subject to
tax?
63
Assessment for learning
Routine assessment:
 Presentation of an economic topic - AL Students
(Sample 3 )

Students pre-lesson preparation

Students’ response to questions raised in class

Participation of ECA – e.g. school visit ( apply some
economic concepts such as mechanisation, wage
payment method, product diversification )
EDB
64
Sample 3
AL Economics
Price Floor
Case Study: Dairy industry in the US
Members: Tang Chung Yin
Tsang Ling Hong
Wong Nga Ying
Case Study: Dairy industry in the US
• For a very long time, price floor has been imposed on dairy
products in the US.
• Due to the Dairy Price Support Programme under which
• The government will buy up the surplus of dairy products
http://iowaindependent.com/17994/feds-act-to-relieve-stress-of-dairy-farmers
Feds act to relieve stress of dairy farmers
(adapted from The Iowa Independent)
U.S. Secretary of Agriculture Tom Vilsack announced today
that his agency will increase the amount paid for dairy
products through the Dairy Product Price Support Program.
Vilsack estimates that that the increases, which will be in play
from August 1 to October 31, will increase dairy farmer
revenue nationally by $243 million.
“ The price increase announced today will provide immediate
relief to dairy farmer around the country and keep many on
the farm while they weather one of the worst dairy crisis in
decades,” Vilsack said in a prepared statement.
Recently, dairy farmers call
on the government to raise
the price floor as the current
level is too low
• Technological improvement in pesticides,
breeding of species and fertilizers leads to a
very large production of dairy products
Therefore, the price of dairy
products gets lower year by
year. The government thus has
to impose a price floor to raise
the income of dairy products.
• In addition, drought and mad cow diseases
happen frequently in recent years.
• In order to protect their farmers, many countries
implement trade restrictions(like import quota
and tariff) .
• Therefore, farmers’s income in the US become
more unstable.
• The government thus has to impose price floor to
ensure the income of dairy farmers.
How can the price floor help raise the income of farmers
There are two ways:
1. Price floor on dairy products
2. Price floor on imported dairy products
1. Price floor on dairy products
- Yellow part represents
farmers’ original revenue.
- As the government will
buy up the surplus, the
blue part represents the
increase in revenue.
- Farmers’ income thus
increases.
How can the price floor help raise the income of
farmers
2. Price floor on imported dairy products
- Raise the price of imported dairy
products.
- Imported dairy products and local
dairy products are substitutes of
each other.
- The consumption of local dairy
products rise.
- Thus, farmers’ income rise.
Apart from increasing farmers’ income,
are there any economic effects caused by
price floor?
Yes!
Government
Negative effects
 Government has an extra financial burden as it has to buy
up the surplus of dairy products. This may reduce
government’s expenditure on other important issues.
 If in certain years, the surplus is so large. The government
has to spend more to help the farmers. This may increase
the amount of tax to be collected in order to balance its
budget.
Positive effects:
 This can keep a lot of farms operating, ensuring the supply
of farm products and the employment of staff working in
farms.
 Help the poor people as the government will usually donate
the unsold dairy products to them.
International Level
Price floor on imported dairy products (Protectionism)
may bring a little bad effect to the economy of importing
countries.
Suppose France export dairy products to the US.
-France’s export of dairy products falls.
-Dairy companies in France will have less revenue.
-They may dismiss some staff.
-Unemployment in France may rise.
Internal summative assessment
 Setters and markers of examination papers and
school uniform tests
– the first panel meeting at the beginning of the
school term ( Sample 1 )
- a fair share of duty and ensure no teacher is
overloaded.
 Format of exam papers – standardised instructions
and format ( Sample 2 for S3 EPA )
 Marks allocation – Course work and examination
paper
EDB
75
Sample 1
EDB
76
Sample 2
EDB
77
Monitoring internal test / examination papers
Flow chart:
- Uniform test and exam papers submitted to panelchairperson for checking, then submitted to principal.
- Standardised front cover of exam papers ( public exam
format ) ( Sample )
- Question-answer books
- Question papers with suggested answers submitted to
school office for file.
- Soft copies saved in subject folder in school intranet.
EDB
78
Sample
EDB
79
EDB
80
Assessing the quality of test and examination papers
Before the submission date of the papers:
- Discuss with panel members the topics
to be covered in the papers.
- Make sure students can handle the topics covered in the
test / exam.
- Make a clear division of duties among paper setters if more
than one teacher is going to set the paper. This will
minimise the chance to set overlapping questions.
- Say clearly that teachers should avoid making direct
adaption of past public examination papers or questions
from test bank of textbook. Teachers should make changes
to improve the quality of the papers.
- Save the papers in school intranet for checking – save
paper and easier for editing
EDB
81
Assessing the quality of test and examination
papers
Checking the papers: Make sure the papers
- meet the standardised format.
- cover the examination syllabus thoroughly and
have a “fair” allocation of marks to all the topics.
- do not have questions which are overlapping.
- make sure marks allocation is appropriate.
- check to ensure no grammatical mistakes are made.
EDB
82
Assessing the quality of test and examination papers
Checking the papers:
- Questions should have different level of difficulties –
e.g. definitions of economic terms, calculation and
interpretation of data, application of economic
knowledge to answer questions in different contexts as
well as making recommendation on policy issue.
- Use red colour to show amendment has been made.
- Talk to teachers why I make those changes. Usually
teachers accept to make these changes if the reasons
are sound and convincing.
- Compliment work of authenticity and make remarks on
the appraisal form ( to be completed at the end of
school term )
EDB
83
Assessing the quality of test and examination papers
Final stage:
- Allow some time for the teachers to make
necessary amendment.
- Make sure to meet the deadline of the school.
- Do not allow panel members to submit their
work late without acceptable excuse.
- Keeping the papers confidential and safe.
- Submit final paper to office for printing.
EDB
84
Assessing the quality of test and examination papers
After the exam:
- Final check the marking scheme to make sure the suggested
answers and mark allocation are appropriate.
- Liase with markers to find if they face any difficulties in marking
and know tentatively the general performance of the students.
- Add the marks in all sections carefully.
- Remind teachers to calculate the final marks carefully ( term
total = __ % of exam papers and ____ % of SBA )
- Submit a copy of exam paper with marking scheme to school
office for file and a soft copy in subject folder in school intranet.
- Complete exam evaluation form ( Sample )– reflecting on the
performance of students and helping to make remedial actions if
necessary.
85
Sample
EDB
86
EDB
87
Part 3: Development of the Economics Panel
• Interface between junior and secondary level
• Implementation of SBA
• Planning in line with school short and medium
term goals
• Sharing session
EDB
88
Interface between junior and
secondary level
Existing PSHE curriculum in school:
S1 and S2 – Integrated Humanities
S3 – EPA
S4 and S5 – NSS Economics ( 3 classes )
S6 and S7 – AL Economics
EDB
89
S3 EPA
 No textbook in this school year
 Form based worksheets to facilitate learning
and teaching
- Syllabus ( Sample 1 )
- Worksheets are prepared mainly by the
panel-chairperson and core teacher in
Economics / EPA
Pre-lesson preparation report in some
topics. ( Sample 2 )
EDB
90
Sample 1
S3 EPA Syllabus
Part 1: The Characteristics of the HK Economy
- Types of production
- Main features of the HK Economy
Private property rights
HK as the freest economy in the world ( Heritage
Foundation )
- The Role of the HK government in the HK Economy
Part 2: Hong Kong as an Industrial, Trade and International
Financial Centre
( Part 1 and 2 – cover Strand 5 in PSHE KLA Curriculum S1-S3)
Part 3 : The Mass Media – NSS Liberal Studies
Part 4: Corruption – NSS Liberal Studies
91
Sample 2
EDB
92
EDB
93
EDB
94
Implementation of SBA
• Time table
Item
Submission date
1
News commentary – NSS 4 summer vacation
assignment ( Sample 1 )
Beginning of new
school term in NSS5
2
Essay - NSS 5
After lunar new year
holiday
3
News commentary – NSS5 summer vacation
assignment ( to be decided )
Beginning of new
school term in NSS6
• Assessment form ( Sample 2 )
EDB
95
Sample 1
EDB
96
Sample 2
EDB
97
Planning in ling with school short and medium
term goals
Programme plan for EPA and Economics
- In line with the major concerns of the school annual
school plan
- Major aspects of the programme plan for EPA and
Economics ( Sample 1, 2 and 3 )
- Development of PSHE ( EPA Club) ( Sample 4 )
EDB
98
Sample 1
EDB
99
Sample 2
EDB
100
Sample 3
EDB
101
Sample 4
Development of PSHE - EPA Club
( In EPA/Econ Programme Plan Major Concern 3 )
Objective :
- broaden students’ other learning experience (OLE); and
train upper form students to become student leaders
Activities:
- School visit to a business organisation ( Chairperson –
forward application letter and recruit participants )
- EPA Club board display – theme topic designed by EPA
committee members
- PSHE week with other school clubs namely Geography,
History, Chinese History and History
EDB
102
103
EDB
104
EDB
105
EDB
106
Thanks
EDB
107