Learning and Teaching Sequence for the SS Economics
Curriculum
Level | Topics | |
S4 | Basic Economic Concepts | Economics as a social science Scarcity, choice and opportunity cost The three basic economic problems Specialization and exchange Positive and normative statements |
Firms and Production | Ownership of firms Types/stages of production Types of goods and services produced Division of labour Factors of production Production and costs in the short run and long run The objectives of firms |
|
Market and Price | Law of demand Individual demand Market demand Individual supply Market supply Interaction between demand, supply and price Consumer and producer surplus Functions of prices Price elasticity of demand Price elasticity of supply Market intervention |
|
Competition and Market Structure | Perfect competition and imperfect competition (monopolistic competition, oligopoly and monopoly) | |
F.5
|
Efficiency, Equity and the Role of Government | Efficiency Equity Policy concerns |
Measurement of Economic Performance | National income General price level as measured by Consumer Price Index and implicit price deflator of GDP Unemployment and underemployment rates Recent trends of national income, general price level and unemployment in Hong Kong |
|
National Income Determination and Price Level | Aggregate demand Aggregate supply The determination of level of output and price |
|
Money and Banking | Money Banks: functions and services Money supply Money demand Determination of interest rate in the money market Hong Kong as a financial centre |
|
Macroeconomic Problems and Policies | Business cycles: a description of the short run fluctuations in real GDP around the long run trend Inflation and deflation Unemployment Fiscal policy Monetary policy |
|
S6 | International Trade and Finance | Free trade and trade barriers Brief introduction to the balance of payments account Exchange rate |
Elective Part: | Extension of Trade Theory Economic Growth and Development |
Assessment
Component | Outline | Weighting | Duration |
Public examination | Paper 1 (Multiple-choice questions) | 30% | 1 hour |
Paper 2 (Conventional paper) Part 1: Compulsory Part (Section A & B) Part 2: Elective Part (Section C) |
70% | 2.5 hours |
Life Wide Learning (S3)-Tasting Program | |
Topic | |
Basic concept | Policy address and Budget Analysis (Group Project) |
Simple Demand and Supply | |
International Trade- Exchange rate | |
Main features of Hong Kong economy – A financial Centre |