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)

S5	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

 

Assessement

Component	Outline	Weighting	Duration
Public examination	Paper 1 (multiple-choice questions)	25%	1 hour
	Paper 2 (conventional paper) Part 1: Compulsory Part Part 2: Elective Part	60%	2 hours
School-based assessment (SBA)*	Task-based assessment (news commentary or essay/report).	15%

* SBA will contribute to the final subject result as from 2014 and thereafter. See table below.

Year of examination	Implementation of SBA
2012 and 2013	Public examination results constitute 100% of the final subject result.
2014 and thereafter	SBA marks will contribute 15% to the final subject result.

Relationship between Economics and Pubic Affairs (S1 – 3) Syllabus and SS Economics Curriculum

Economics and Public Affairs (S3)	Economics (S4 – 6)
Topic	Topic
Economic structure of Hong Kong	Measurement of Economic Performance Economic Growth and Development
Gross Domestic Product
Main features of Hong Kong economy	Basic Economic Concepts
The three basic economic problems
Property rights
The Government’s role in the economy	Efficiency, Equity and the Role of Government
Types / Stages of production	Firms and Production
Types of goods and services produced
Division of labour
Factors of production
Mobility of factors of production
Hong Kong Industries
Money	Money and Banking
Hong Kong’s Trade	International Trade and Finance
Invisible Earnings
Free trade and trade barriers
Hong Kong – A financial Centre
Hong Kong’s External Economic Relations	Macroeconomic Problems and Policies