NATIONAL SCHEME FOR SECONDARY SCHOOLS

Curriculum Area: Economics GRADE 11

RESOURCE

SCHOOLS

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

ACKNOWLEDGEMENTS
The Ministry of Education wishes to acknowledge the work done by the following persons who were involved in the production of the Grade 11 Economics National Scheme.

Amelia Persaud

Harrichandra Chaitram

Denise John

Tonia Stuart

@ 2023 Ministry of Education, Georgetown. Guyana

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 1

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Section 5 Students will: The role of the Government in stabilising an Explaining what a stabilised economy is. Bahaw Edward, Mollick Oral discussion
economy Wajid: Comprehensive and group
ECONOMIC Understand the Every Government will strive to achieve a smooth Identifying the macroeconomic goals and Economics for CSEC, activities
MANAGEMENT, role of running of the economy. In doing so, they will objectives of the Government Caribbean Educational
POLICIES AND Government in focus on the following goals or objectives. Publishers. Pages 224-229
GOALS stabilising the Explaining the macroeconomic goals and
economy. Roles of the Government objectives of the Government Martin John: Economics
Role of Government i. Employment Protection and Social Safety Caribbean Secondary
in an Economy Nets; Certificate CSEC,
Caribbean Education
Governments can implement employment Publishers. 2018. Page 235
protection measures to safeguard workers from
unfair dismissal and to provide job security. CSEC Economics paper 2,
question 4 a, b
ii. Macroeconomic Stability;
Ensuring macroeconomic stability through sound
fiscal and monetary policies is crucial for
maintaining an environment conducive to job
creation. Stable inflation, a manageable fiscal
deficit, and a well-regulated financial system
contribute to investor confidence and economic
growth.

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

iii. Regulation
Governments enact and enforce rules and
regulations to oversee various economic activities,
such as trade, labour, environmental protection,
consumer safety, and financial markets. Regulation
aims to maintain fair competition, prevent market
failures, and protect the interests of consumers and
businesses.

iv. Taxation and expenditure

Through taxation and social welfare programs, the
Government addresses income inequality and
redistributes wealth to support the less privileged
members of society. This helps reduce poverty and
ensures a more equitable distribution of resources.

v. Transfer and Stabilisation Policies

During economic downturns, the Government can
implement various stabilisation policies.

vi. Economic growth and development

Governments often adopt policies and incentives to
encourage investment, entrepreneurship, and
innovation, fostering economic growth and
development.

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 2

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Economic Tools Students will: Economic tools/measures to stabilise the Describing each economic tool that can be Bahaw Edward, Mollick Watch videos
economy: used to stabilise an economy Wajid: Comprehensive and discuss
Appreciate the The Government will use specific Economic Economics for CSEC, observation
economic tools tools/measures to stabilise the economy or achieve Explaining how each tool is used in Caribbean Educational
macroeconomic objectives. stabilising the economy or achieving the Publishers. Pages 224-229
These include; macroeconomic objectives
i. Monetary Policy - Central bank's control Martin John: Economics
of money supply and interest rates Defining what is meant by direct and Caribbean Secondary
indirect taxes Certificate CSEC,
ii. Fiscal Policy - Government's use of Caribbean Education
taxation and spending to influence the Identifying examples of direct and indirect Publishers. 2018. Page 235,
economy taxes. 312-313. 315
CSEC Economics paper 2,
iii. Direct policies- also known as direct
Explaining how the Government can use question 4 a, b
intervention or command policies involve
direct and indirect taxes to stabilise the https://youtu.be/oGQBvDt3
explicit government actions aimed at
economy BqI
achieving specific economic goals.
https://youtu.be/rcPEkmstD
iv. Trade policies are measures taken by ek
governments to regulate the flow of goods
and services across international borders
policies

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

v. Exchange Policy- Exchange Rate Policy:

Exchange rate policy refers to the
Government's approach to managing the
value of its currency relative to other
currencies in the foreign exchange market.
Types of taxes:
i. Direct taxes are taxes levied directly on
individuals or entities, and the tax burden
cannot be shifted to someone else. The
taxpayer pays these taxes directly to the
Government, and they are usually based on
an individual's or a company's income,
wealth, or property.
Examples of direct taxes include;
a. Income Tax: A tax imposed on an
individual's or a company's income, usually
calculated based on various income sources
and tax brackets.
b. Corporate Tax: A tax levied on the profits
of companies and corporations.
c. Property Tax: A tax assessed on the value
of real estate properties owned by
individuals or businesses.

ii. Indirect taxes are taxes that are not directly

paid by the end consumer or taxpayer but
are instead levied on the production, sale, or
consumption of goods and services.

Examples of indirect taxes include;

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
a. Value Added Tax (VAT): A tax imposed
on the value added at each stage of
production or distribution of goods and
services.

b. Sales Tax: A tax levied on the sale of goods

and services at the retail level.

c. Excise Tax: A tax imposed on specific

goods such as tobacco, alcohol, gasoline,
and luxury items.

d. Customs Duties: Taxes imposed on goods

imported or exported across international
borders.

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 3

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Terms and Students will: Terms associated with economic management, Presenting definitions of terms associated Martin John: Economics Home
concepts policies, and goals: with economic policies and goals Caribbean Secondary Assignment on
associated with Understand the Certificate CSEC, Caribbean the terms
economic terms and National Budget - Government's financial plan Explaining each term associated with Education Publishers. 2018. discussed
management, concepts for revenue and expenditure economic management, policies, and goals Pages 235-237
policies and associated with
goals. Economic National Income - Total income earned by a Discussing each term Robinson Karlene and Cooke
management country's residents and businesses Novelette: Carlong Economics
policies and for CSEC. Carlong Publishers,
goals. Disposable Income - Income available for (2011). Pages 237-238
spending and saving after taxes

National Debt - Accumulated borrowings of the

Government

Deficit - Government's excess spending over

revenue

Growth - Increase in a country's production of

goods and services

Economic Development - Improvement in living

standards and well-being of a society

Developing Economy - Country with low-

income and infrastructure development

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
Developed Economy - Country with high income
and advanced infrastructure

Balance of Payments - Record of a country's

transactions with the rest of the world

GDP (Gross Domestic Product) - Total value of

goods and services produced within a country

GNP (Gross National Product) - Total value of

goods and services produced by a country's
residents, both domestically and abroad

Employment - Number of people with jobs

Unemployment - Number of people without jobs,

seeking employment

Inflation - General increase in prices and

decrease in purchasing power

Deflation - General decrease in prices and

increase in purchasing power

Savings - Income not spent and set aside for

future use

Investment - Expenditure on capital goods to

enhance productivity

Closed Economy - No trade with other countries

Open Economy

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 4

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

The circular flow Students will: Definition: Defining the concept of the circular flow of Clavery Peter, et al. Role play in
of income The circular flow of income is the flow of factor income Economics for CSEC – groups
Develop an incomes from firms to households in return for Study Guide, Nelson
understanding of factor services. This income factor then flows back Describing the circular flow of income with Thornes, (2012). Pages 108-
the concept of the to firms as payment for goods and services that the the use of closed and open economy 109
circular flow of households purchase. diagrams
income. Gopie Patricia: Economics
Identifying real flows and money flows in for CSEC Examinations,
the circular flow of income. Macmillan, (2010). Pages
127-129
Explaining what is meant by leakages and
injections Robinson Karlene and
Cooke Novelette: Carlong
Identifying injection and Economics for CSEC.
withdrawal/government leakages from the Carlong Publishers, (2011).
circular flow of income in an economy Pages 232-234.
Flows of goods and services and factors of
production between firms, households, and Explaining how the action of each agent in
Government. the circular flow impacts the economy

Closed and open economy model of the circular

flow of income
Injections = are additions to the circular flow of
income. E.g. Investment, government expenditure
and export earnings

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

Withdrawals/Leakages - are the income of

households and firms that is not passed on in the
circular flow of income. E.g. savings, taxes and
expenditures on imports.

GDP (Gross Domestic Product)

GDP, GNP and Appreciate the GDP measures the total value of all goods and Defining the concepts of G.D.P., G.N.P. and Bahaw Edward, Mollick
NI differences services produced within a country's borders, N.I Wajid: Comprehensive
between Gross regardless of the nationality of the producers. Economics for CSEC,
Domestic Product The production of domestic and foreign-owned Differentiating between GDP, GNP and NI. Caribbean Educational
(GDP), Gross firms operating within the country is included. Publishers. Pages 200-205
National Product Clavery Peter, et Economics
(GNP), and Approaches used for calculating GDP for CSEC – Study Guide,
National Income Expenditure Approach: Nelson Thornes, (2012).
(NI. GDP is calculated by summing up all expenditures Pages
on final goods and services within the country's 110-111.
borders over a specific period. Gopie Patricia: Economics
for CSEC Examinations,
Income Approach: Macmillan, (2010). Pages
GDP is calculated by summing up all the incomes 130-131
earned by the factors of production (labour and Martin John: Economics
capital) within the country over a specific period. Caribbean Secondary
Certificate CSEC,
Production/Output Approach: Caribbean Education
GDP is calculated by measuring the total value of Publishers. 2018. Pages
all final goods and services produced within the 238- 244
country over a specific period. Economics 2008 paper 2,
question 4(C), 2010 paper 2
question 4, 2014 paper 2,
question 4

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
https://youtu.be/z-
The formula for GDP is the same regardless of vdJKnC7FM
the approach used: Calculating GDP, GNP and NI.

GDP = C + I + G + (X - M) Interpreting GDP, GNP and NI.

Where: Calculating NI using Expenditure, Income

and Output methods/approach
C: Total consumption expenditure by households
on goods and services.
I: Total investment expenditure by businesses on
capital goods and other investments.
G: Total government spending on goods and
services.
(X - M): Net exports, which is the difference
between total exports (X) and total imports (M).

GNP (Gross National Product):

GNP measures the total value of all goods and Distinguishing between GDP and GNP
services produced by a country's residents,
regardless of where they are located, either
domestically or abroad.

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

Approaches used for calculating GNP

Income Approach:
GNP = Compensation of Employees (wages +
salaries) + Gross Operating Surplus (profits +
interest + rent) + Net Property Income from
Abroad (net income earned from foreign assets -
net income paid to foreign entities)

Expenditure Approach:
GNP = Consumption Expenditure (C) + Gross
Investment (I) + Government Spending (G) +
(Exports - Imports) [Net Exports]

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 5

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Nominal, Real Students will: Nominal output- measures output in terms of the Defining the terms: Nominal, Real and Bahaw Edward, Mollick Oral discussion
and Potential Analyse the value of goods produced in a period. No adjustment is Potential Output Wajid: Comprehensive on nominal, real
Output differences made for price increases. Economics for CSEC, and potential out
between nominal Explaining the terms: Nominal, Real Caribbean Educational
output, real Output Real Output: This measures the value of actual goods and Potential Output Publishers. Pages 207-208
and potential and services produced at constant prices in a country Clavery Peter, et al.:
Output for a given year. Using numerical examples to explain Economics for CSEC – study
the terms Nominal, Real and Potential guide, Nelson Thornes, (2012).
Potential output: the level of output an economy is Output Pages 112-113.
capable of producing when all its factors of production Gopie Patricia: Economics for
are fully employed. CSEC Examinations,
Macmillan, (2010). Page 131
Economics 2011 paper 2,
question 5(d)
https://youtu.be/iNfNZ1mIGR
E
https://youtu.be/gqm--7s0Ks4

S.B.A. The Bibliography: must contain the name(s) of the author(s), name of the publisher(s), names and dates of publication and MUST be written in alphabetical order to earn the
(Bibliography 1 mark.
& Overall Overall presentation: If poor formatting (using multiple fonts, alignment and line spacing etc.), spelling and grammar errors, sentences and syntax issues, or the document
presentation) looks untidy, the 2 marks will not be earned.

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 6

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Economic Students will: Economic growth: This is a measure of the total Differentiating between economic growth Clavery Peter, et al.:
growth and value of goods and services produced in an economy and economic development Economics for CSEC – Activity sheet
economic Develop an in a given period Study Guide, Nelson response on
development understanding of Thornes, (2012). Pages economic growth
the difference Economic development: Is the sustainable increase 112-113. vs. economic
between in the quality of life of residents in a country development
economic growth Gopie Patricia: Economics
and economic Factors influencing economic growth: Identifying the factors affecting for CSEC Examinations,
development. i. Human resources economic growth and economic Macmillan, (2010). Page
ii. Infrastructure development development 114-115
iii. Advancement in technology
iv. Population growth Economics 2017 paper 2,
v. New discoveries question 4
vi. Enterprise and innovation

Factors influencing economic development:

i. Infrastructure development
ii. Education
iii. Increase in capital
Measures of economic growth: Describing measures that determine
i. Real GDP. economic growth and economic
ii. Real per capita income development
Measures of economic development:
i. Human Development Index
ii. Human poverty Index

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 7

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Inflation Students will: Definition of terms: Defining inflation Bahaw Edward, Mollick Group
Inflation Wajid: Comprehensive Presentation
Apply the causes, Inflation refers to the general increase in the price Economics for CSEC,
consequences, level of goods and services in an economy over a Caribbean Educational
and measures to period of time. Publishers. Pages 256-258
reduce inflation
in an economy Types/Causes of Inflation: Identifying the causes of inflation Clavery Peter, et al.
i. Demand-pull Economics for CSEC –study
Explaining each type of inflation guide, Nelson Thornes, (2012).
Occurs when the overall price level rises Pages 116-119.
due to an increase in aggregate demand, Explaining demand-pull inflation,
surpassing the economy's ability to supply including the emphasis on an increase in Gopie Patricia: Economics for
goods and services. the money supply CSEC Examinations,
Macmillan, (2010). Pages 137-
ii. Cost-push
Explaining cost-push inflation, including 141
Occurs when the overall price level rises an emphasis on wage spiral and imported https://youtu.be/Pk9rXm5Kb
due to an increase in production costs, such inflation wE
as wages, raw materials, or taxes https://youtu.be/0v-uj-
mWnb8
iii. Imported inflation

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
Occurs when an increase in the prices of
imported goods and services leads to higher
overall price levels in the domestic
economy.

iv. Monetary inflation

Refers to a sustained increase in the money
supply in an economy.
Explaining the consequences of inflation
Consequences of inflation: and possible measures to reduce it
i. Fall in real income by fixed-income earners.
ii. Borrowers gain at the expense of lenders.

Some possible measures to reduce inflation:

i. Deflationary Fiscal policy
ii. Deflationary monetary policy

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 8

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Recession Students will: Definition of terms: Bahaw Edward, Mollick Written questions
Recession Defining recession Wajid: Comprehensive
Appreciate the A recession refers to a significant decline in Economics for CSEC,
causes, economic activity within a country or across the Caribbean Educational
consequences and world, lasting for an extended period. During a Identifying the causes of recession Publishers. Pages 256-258
measures to recession, there is a decrease in economic growth,
reduce the impact employment levels drop, consumer spending Explaining the causes of recession. Clavery Peter, et al.:
of the recession declines, and overall business activity contracts. Economics for CSEC –
on an economy Explaining the consequences of a recession Study Guide, Nelson
Causes of a Recession and possible measures to reduce it Thornes, (2012). Pages
i. Trade or business cycle 116-119.
ii. Contraction of National Output
Gopie Patricia: Economics
Consequences of Recession: for CSEC Examinations,
i. The general reduction in output by firms Macmillan, (2010). Pages
and incomes earned by households 137-141
ii. Increase in unemployment.

Measures to reduce a recession:

i. Reflationary fiscal policy
ii. Reflationary Monetary policy

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 9

GENERAL EVALUATION
TOPIC/SUB-TOPIC CONTENT ACTIVITY RESOURCE
OBJECTIVE STRATEGY

Unemployment Students will: Definition of term: Bahaw Edward, Mollick Group role play
Unemployment Defining unemployment Wajid: Comprehensive on
Recall the types, Refers to the condition in which individuals who Economics for CSEC, unemployment
consequences and are willing and able to work are actively seeking Caribbean Educational
measures to employment but cannot find suitable jobs. Publishers. Pages 262-268
reduce the impact
of the different Types/causes of unemployment: Identifying the types/causes of Clavery Peter, et al.:
types of i. Frictional unemployment Economics for CSEC –
unemployment in ii. Seasonal study guide, Nelson
an economy. iii. Structural Explaining the different types of Thornes, (2012). Pages
iv. Cyclical unemployment 122-123.
v. Classical/Real wage
vi. Technological Unemployment Illustrating real-wage unemployment using Gopie Patricia: Economics
Frictional: Temporary and voluntary graph for CSEC Examinations,
unemployment due to job transitions. Macmillan, (2010). Pages
142-144
Seasonal: Unemployment tied to predictable
seasonal variations in demand. Ramsingh Dave:
Economics for CAPE.
Structural: Caused by a mismatch of skills and job Harper Collins Publishers,
opportunities. 2015. Pages 221-224
Economics 2017 paper 2,
Cyclical: Arises from economic downturns and question 5
business cycles.

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
Classical/Real Wage: Results from wages above
market equilibrium level.

Technological Unemployment: This type of

unemployment occurs when advancements in
technology lead to the replacement of human
workers with automation and machines.

Consequences of unemployment Outlining the consequences of the types of

i. Loss of tax revenue to the Government unemployment
ii. Social fallout
iii. Wastage of resources (idle resources)
iv. Decrease in the quality of life of the
unemployed
Explaining the possible measures to reduce
Measures to reduce unemployment: the types of unemployment
i. Reflationary fiscal policy
Reflationary Monetary policy

S.B.A. The recommendations must be realistic and based on the research findings to earn four marks.
(Recommendations) They should contribute a better understanding of the topic/issue/problem or provide a solution to the problem.
Explaining at least two realistic recommendations based on the SBA research findings
They should also be practical and actionable.

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 10

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Trade Unions Students will: Trade unions in an economy: Explaining the role of the trade union in an Clavery Peter, et al.: Home
Develop an economy Economics for CSEC – Assignment
understanding of The role of the trade union in an Economy. Study Guide, Nelson
the role of trade Outlining the effect of the trade union as it Thornes, (2012). Pages
unions in an Effect of the trade union as it relates to wages and relates to wages, salaries, and working 124-125.
economy salaries and working conditions conditions
Gopie Patricia: Economics
Be aware of the Discussing the effect of trade union action for CSEC Examinations,
effect of trade Effect of the trade union as it relates to creating as it relates to creating real wage Macmillan, (2010). Page
unions' actions on real wage unemployment in the labour market unemployment in the labour market 155-159
wages, salaries, and
working conditions.

Recognise the
effect of trade
union action as it
relates to creating
real wage
unemployment in
the labour market.

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

Suggested Teaching and Learning Activities

To facilitate students' attainment of the objectives of this Section, teachers/facilitators are encouraged to engage students in the teaching and learning activities below.
1. Use the following game, or a similar one, to demonstrate an understanding of the circular flow of income:

Make a set of 'placards' printed on A4 paper to be seen from across the room. Labels needed: households; firms; Government; imports; savings; taxation; exports; investment; and
Government spending. Distribute the placards among the students, and as you do so, get the class to predict how each one will impact the whole economy.
Give person A the household placard. Give person B the firm's placard. Make A and B stand a couple of metres apart, ideally in the middle of the room.
Ask the class how A and B affect each other. First, get them to describe flows of goods/services and factors of production, then get them to think about the corresponding flows of money.
Finally, represent each money flow with a piece of string held by A and B.
Get the class to predict what will happen if A saves; then instruct person C to hold the savings placard and to pull some of the "expenditure" string from A. Students should now try to explain
what has happened to the length of the string now going between A and B and, using the discipline's jargon, say what has happened to the size of the circular flow of income.
Adapted from: https://www.tes.com/uk/
2. Use appropriate scenarios like the one below as examples of economic activities to illustrate the differences between GDP and GNP.

A Belizean national living and working in St Vincent sent home most of his income to help care for his family. Discuss whether this money forms part of the GDP or GNP of Belize or both.
3. Engage students in activities where they use economic data and formulae to derive GDP and GNP. The students should be asked to interpret the figures/results obtained. The teacher should
probe students as necessary to encourage discussions on the economic implications of changes in GDP and GNP, such as whether they improved, deteriorated or remained constant. Again,
the appropriate use of economics jargon must be encouraged.

4. The teacher will outline examples of economic occurrences such as, 'There was a significant increase in the number of concrete houses built in St Vincent and the Grenadines in 2015
compared to 2014.'

Ask students to categorise each example as either economic growth or economic development. The teacher should also probe students to encourage discussions on economic growth and
development implications. The appropriate use of economics jargon must be encouraged.

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Curriculum Area: Economics GRADE 11
5. Place students in groups. Each group will be given a (printed) list of situations or scenarios about individuals who are not working and the reasons why.
Examples:
(a) John, a final-year college student, was visited yesterday by officers from the Population Survey Centre. They are presently collecting data to determine the current level of unemployment
in the country, among other things.

(b) Last Friday, the company for which Mary worked in St Lucia closed. However, she has been assured of a job in Dominica when the business opens its new facility in the next three weeks.

The groups will analyse each situation and:

(i) determine which individuals can be classified as unemployed (based on the definition of unemployment);

(ii) Categorise the unemployed persons under the specific types of unemployment; and,

(iii) Justify the decision taken in (ii).

6. Ask students to research their communities to identify persons who are 'unemployed'. The research should help them to:

(a) Determine which individuals can be classified as unemployed (based on the definition of unemployment);

(b) Categorise the unemployed persons under the specific types of unemployment;

(c) Justify the decision taken in (b);

(d) Ascertain the causes of unemployment;

(e) Identify possible solutions to the different types of unemployment; and,

(f) Research solutions proposed in theory and those used in other contexts, and compare their findings with these solutions.
Students should make oral presentations to the class.

7. Engage students in an exercise to identify and analyse recent activities/negotiations between trade unions and the Government (locally or regionally). They will attempt to trace the
economic (and social) impact of trade union representation on the labour market in the territory examined. Newspaper articles and trade union newsletters could be used as a source of current
information for this activity.

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Curriculum Area: Economics GRADE 11

8. Invite a trade unionist to speak to students about trade union-related issues. Help students to prepare a comprehensive instrument to guide their notetaking and question and answer session.

9. Engage students in a brainstorming activity to help them identify macroeconomic problems in an economy. They will identify and critique some experiences in their territory and the
existing policy measures being used to address them. They should finally suggest and justify some additional or more appropriate policies that can be used to address these problems.

10. Engage students in a debate requiring them to analyse some of the policies outlined in the recent budget document by the Minister of Finance for their country and discuss possible effects
each policy measure will have on economic stability.

11. Engage students in a class discussion on the key objectives of government policies in their territories.

RESOURCES Gopie, P. Economics for CSEC Examinations.

Macmillan Publishers, 2010.
Robinson, K. and Cooke, N. Economics for CSEC with SBA, Study
Guide and Exercises. Carlong Publishers
2011.
WEBSITES
https://www.youtube.com/watch?v=2PVwzSEUjiI
https://www.youtube.com/watch?v=afEqMX9YGCY
https://www.tes.com/uk/

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 11

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Section 6 Students will: International trade - is the exchange of goods Defining what is meant by international Clavery Peter, et al.: Home
INTERNATIONAL and services across international boundaries or trade Economics for CSEC – Assignment
TRADE Develop an territories. Study Guide, Nelson
understanding of Thornes, (2012). Pages
Concepts the meaning of Terms used in International Trade: 128.
associated with concepts, i. Balance of trade Defining the terms associated with
international trade principles and The difference between the value of a international trade Gopie Patricia: Economics
approaches country's exports and imports of goods for CSEC Examinations,
associated with over a specific period. Explaining the terms associated with Macmillan, (2010). Page
international ii. Current account international trade 162
trade. Part of a country's balance of payments that
records its trade in goods and services, Martin John: Economics
income receipts, and unilateral transfers Caribbean Secondary
(gifts, grants, etc.) with other countries. Certificate CSEC,
iii. Capital account Caribbean Education
The segment of a country's balance of Publishers. 2003. Page 326
payments that tracks capital transfers and Longman Economics for
the acquisition or disposal of non-financial CXC pages 216-220
assets between residents and non-residents.

iv. Net international reserves (NIR)

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Curriculum Area: Economics GRADE 11
The overall holdings of a country's foreign
currency assets (e.g., foreign exchange,
gold) minus its foreign currency liabilities
(e.g., foreign-denominated debts).

v. Balance of payments
A systematic record of all economic
transactions (trade in goods, services, and
financial assets) between residents of one
country and the rest of the world over a
given period.

vi. Balance of payments disequilibria

Refers to situations where a country's
balance of payments is not in equilibrium,
indicating deficits or surpluses in the
current account or capital account.

vii. Tariff
A tax imposed by a government on
imported goods, adding to their cost and
making domestically produced goods more
competitive
viii. Common external Tariff (CET.)
A uniform tariff rate is applied by a group
of countries that form a customs union on
imports from non-member countries.

ix. Quota (non-tariff barriers)

A restriction is imposed on the quantity or
value of certain goods that can be imported
or exported during a specific period.

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 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

x. Exchange rate
The rate at which one currency can be
exchanged for another determines the value
of international transactions.

xi. Exchange rate regimes

The systems that governments use to
manage their currency's value in relation to
other currencies, such as fixed exchange
rates, floating exchange rates, or pegged
exchange rates.

xii. World Trade Organisation (WTO.)

An international organisation that deals
with the global rules of trade between
nations, aiming to promote free trade,
resolve trade disputes, and facilitate
international commerce.

Page 25 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 12

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Absolute Students will: The concept of; Explaining the theory of Gopie Patricia: Economics for Presentation
advantage and Absolute advantage - A country has an absolute absolute and comparative CSEC Examinations, Macmillan,
comparative Develop an advantage if it produces more goods and services advantage (2010). Page 166-167
advantage awareness of the compared with other countries with the same quantity of
rationale for resources Calculating comparative Martin John: Economics
international advantage Caribbean Secondary Certificate
trade Comparative advantage - A country should specialise CSEC, Caribbean Education
in the production of the good in which it has the least Interpreting absolute and Publishers. 2018.326-330
opportunity cost or the most significant advantage comparative advantage and
Gains from trade showing how they benefit trade Robinson Karlene and Cooke
Gains from trade: Novelette: Carlong Economics for
i. Firms can earn valuable foreign exchange. Identifying the gains from trade CSEC. Carlong Publishers, (2011)
pages 285-287
ii. Creates increased employment Explaining the benefits of trade
and its impact on the various https://youtu.be/hnGCjwRWtcw
iii. Increased efficiency of firms
agents in the economy.
iv. Consumers get access to a greater variety of
goods
Being able to buy better goods cheaper than those
produced domestically

Page 26 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 13

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Factors Students will: Factors that influence International Trade: Identify factors that influence international Clavery Peter, et al.: Oral Quiz
influencing Import factors trade. Economics for CSEC –
international Appreciate the i. Domestic income levels Study Guide, Nelson
trade factors that ii. The exchange rate Explaining the factors that influence Thornes, (2012). Pages
influence iii. Domestic product prices versus foreign international trade 130-133.
international product prices
trade. iv. Quality of domestic goods Gopie Patricia: Economics
for CSEC Examinations,
Export factors Macmillan, (2010). Page
i. Foreign income level 165-166, 168
ii. The exchange rate
iii. Quality of imported goods
iv. Changing tastes of consumers in the rest of
the world

Terms of trade - This is the ratio of export prices

to import prices. Defining what terms of trade is

Formula: Calculating terms of trade

Interpreting terms of trade

Identifying base year, terms of trade

improvements or deterioration

Page 27 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 14

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Balance of Students will: Balance of trade - is simply the difference Explaining the concept of Balance of Bahaw Edward, Mollick Wajid: Quiz
payments and Understand the between the values of exports and imports payments Comprehensive Economics for
Balance of trade concepts, visible. CSEC, Caribbean Educational
principles and Publishers. Pages 281-284
approaches Components/ sub-sections of the Balance of Clavery Peter, et al.: Economics
associated with payments: Defining the term balance of trade with for CSEC – Study Guide, Nelson
the Balance of i. Current account examples Thornes, (2012). Pages 130-131.
payments Gopie Patricia: Economics for
ii. Capital account Identifying the components of the CSEC Examinations, Macmillan,
Balance of payments (2010). Page 181-183
iii. Official financial account
Economics 2012 paper 2,
Balance of payments surplus - This is an Explaining each component of the questions 3, 6, 2014 question 6
excess of receipts over payments Balance of payments https://youtu.be/TuyPLN8VR1M

Balance of payments surplus – this is an Identifying items/ transactions found

excess of expenditure over receipts under each Section

Calculating the Balance of payments and

interpreting the figure

Discussing the meaning of surpluses and

deficits with examples

Page 28 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 15

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Students will: Causes of the balance of payments deficits: Discussing the causes of the balance of Bahaw Edward, Mollick Pop Test
Balance of i. Increasing demand for imported goods payments deficit Wajid: Comprehensive
payments Understand the ii. Falling demand for locally produced goods Economics for CSEC,
surpluses and causes, and services by foreigners Caribbean Educational
deficits consequences and iii. Investment incomes paid out to foreigners Publishers. Pages 287-289
possible remedies are greater than investment income coming
of a surplus and into the country Clavery Peter, et al.:
deficit. iv. Individual and Government transfers out of Economics for CSEC –
the country are greater than those coming Study Guide, Nelson
in Thornes, (2012). Pages 144-
147.
Consequences of a deficit: Outlining the consequences and possible
i. Increase in unemployment remedies of the balance of payments deficit Gopie Patricia: Economics
ii. Falling foreign exchange reserves for CSEC Examinations,
iii. Exchange rate depreciation Macmillan, (2010). Page
184-187
Measures to reduce a deficit:
i. Deflationary monetary policy Economics 2008 paper 2,
ii. Deflationary fiscal policy questions 7, 2017 question
iii. A fall in the value of the currency 3 (d)

Causes of the balance of payments surpluses:

i. Falling demand for imported goods and
services

Page 29 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
ii. Increasing demand foreigners for locally Discussing the causes of the balance of
produced goods and services payments surplus
iii. A decline in holidays taken abroad
iv. An increase in foreign visitors to the
country.

Consequences of a surplus:

i. Falling unemployment Outlining the consequences and possible

ii. Increase in reserves remedies of the balance of payments
iii. Exchange rate appreciation surplus
iv. Inflationary pressures

Measures to reduce a surplus:

i. Reflationary monetary policy

ii. Reflationary fiscal policy
iii. Revaluation of the currency

Page 30 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 16

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Exchange rate Students will: Exchange rate regime - This refers to how a Defining terms exchange rate regimes Bahaw Edward, Mollick Wajid: Group
Understand the country's exchange rate is determined Comprehensive Economics for presentation
concepts, CSEC, Caribbean Educational
principles, and Factors influencing the level of exchange rate: Publishers. Pages 292-298
approaches i. Changing taste Identifying and explaining the factors that Clavery Peter, et al.: Economics
associated with influence the level of an exchange rate for CSEC – Study Guide,
exchange rates. ii. Interest rate changes Nelson Thornes, (2012). Pages
134-139.
iii. Domestic prices compared to foreign
Gopie Patricia: Economics for
prices
CSEC Examinations,
iv. Speculation Macmillan, (2010). Page 173-
178
v. Domestic income levels Robinson Karlene and Cooke
Identifying the categories of exchange Novelette: Carlong Economics
Exchange rate regimes are the framework or rate regimes /systems for CSEC. Carlong Publishers,
system that a country's central bank or monetary (2011) pages 293-298
authorities use to determine the value of its Explaining each type of exchange rate Economics 2011 paper 2,
currency relative to other currencies in the system questions 4, 2014 question 3, 6
foreign exchange market. (c), 2015 question 3(c )
Explaining the difference between
Basic types of exchange rate regime: exchange rate revaluation and devaluation https://youtu.be/9DVYVfI81R8
i. Fixed exchange using examples
ii. Floating/flexible exchange https://youtu.be/hmbs_06LnS8
iii. Managed exchange Explaining the difference between
exchange rate appreciation and https://youtu.be/EiXYP93hvGQ
Terms used in the exchange rate regimes: depreciation using examples

Page 31 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
i. In a fixed exchange rate system, there Explaining what is meant by upward and https://youtu.be/1Gs1KrTBIBM
will be a revaluation or devaluation of the downward adjustments to the value of a
currency currency https://youtu.be/D41EuDh3epI
ii. In a floating exchange system, there will
be an appreciation or depreciation of the
currency

SCHOOL-BASED SUBMISSION OF SBA FINAL REPORT

ASSESSMENT
1

Page 32 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
Suggested Teaching and Learning Activities
To facilitate students' attainment of the objectives of this Section, teachers/facilitators are encouraged to engage students in the teaching and learning activities below.
Divide students into groups and assign each group to identify items such as clothes, food, and cell phones on sale in their territory. They should be encouraged to identify such problems as
the source and cost of these items. They should then discuss the differences between those purchased abroad and those produced locally and the advantages and disadvantages of buying from
abroad and producing locally.

RESOURCES
Comprehensive Economics for CSEC.
Bahaw, E. and Mollick, W. Caribbean Educational Publishers, 2008.
Greenwood, R. and Cook, T. Economics for CSEC. Cambridge
University Press, 2007.
Robinson, K. and Cooke, N. Economics for CSEC with SBA, Study
Guide and Exercises. Carlong Publishers
2011

WEBSITES
http://boj.org.jm/uploads/pdf/papers_pamphlets/papers_pamphlets_balance_of_payments_made_simple.pdf

Page 33 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 17

GENERAL EVALUATION
TOPIC/SUB-TOPIC CONTENT ACTIVITY RESOURCE
OBJECTIVE STRATEGY

Section 7 Students will: The main characteristics of Caribbean economies: Identifying the main characteristics of Gopie Patricia: Economics Home assignment
Caribbean Economies i. The market size is small Caribbean economies for CSEC Examinations,
in a Global Recall the major ii. Limited resource base Macmillan, (2010). Pages
Environment characteristics, iii. Dependency on foreign investment Discussing the main characteristics of 202-205
economic iv. Exports dominated by primary products and Caribbean economies
Characteristics of challenges and tourism Martin John: Economics
Caribbean possible solutions Caribbean Secondary
Economies associated with Major economic problems facing Caribbean Certificate CSEC, Caribbean
Caribbean economies: Identifying the major problems facing Education Publishers. 2003.
economies. i. Low per capita GNP. Caribbean Economies Pages 370-373
ii. A large amount of unskilled labour
iii. The large food import bill Explaining the major problems facing Robinson Karlene and Cooke
iv. Brain drain Caribbean economies Novelette: Carlong
v. Large debt burden Economics for CSEC.
Carlong Publishers,
Possible solutions to economic problems in the (2011).Pages 322-328
Caribbean: Outlining possible solutions to
i. Investment in human capital economic problems in the Caribbean
ii. Export-led growth
iii. Diversification of goods and services
iv. Foreign direct investment

SCHOOL-BASED SUBMISSION OF SBA FINAL REPORT

ASSESSMENT

Page 34 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 18

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Terms and Students will: Terms and concepts associated with Clavery Peter, et al.: Oral presentation
Concepts Caribbean Economies: Economics for CSEC –
associated with Develop an Study Guide, Nelson
Caribbean understanding of Debt Burden: Heavy financial obligation Defining terms associated with Caribbean Thornes, (2012). Pages 160-
Economies the meaning of resulting from accumulated debt, impacting a economies 165
concepts, principles country's ability to meet payment obligations
and approaches and pursue economic development. Discussing terms associated with Caribbean Gopie Patricia: Economics
associated with economies for CSEC Examinations,
Caribbean Structural Adjustment: Economic reforms Macmillan, (2010). Pages
economies. imposed by international financial institutions Identifying functions of the institutions 211-212
to address fiscal imbalances and promote
sustainable growth. Using role plays to enforce the use of the Martin John: Economics
terms in practical situations Caribbean Secondary
Economic Integration: Cooperation between Certificate CSEC,
countries to foster closer economic ties, leading Caribbean Education
to increased trade, investment, and economic Publishers. 2003. Pages
interdependence. 381-387

Protectionism: Policy of restricting imports Robinson Karlene and

through tariffs, quotas, or other barriers to Cooke Novelette: Carlong
protect domestic industries from foreign Economics for CSEC.
competition. Carlong Publishers,
(2011).Pages 337-341

Page 35 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
Laissez-Faire: Economic philosophy Longman Economics for
advocating minimal government intervention in CXC pages 248 - 254
markets and promoting free market principles.
Economics paper 2, 2010
Common Market: A form of economic question 8 (d), 2011,
integration allowing for the free movement of question 6 (c)
goods, services, capital, and labour among
member countries.

Economic Union: The higher level of

economic integration with a single market,
unified monetary policy, and common
economic institutions.

Customs Union: Agreement among countries

to eliminate internal tariffs while maintaining a
common external tariff on imports from non-
member countries.

Globalisation: Increasing interconnectedness

of economies, cultures, and societies on a
global scale through trade, communication, and
technology.

Trade Liberalisation: Reduction or

elimination of trade barriers to promote free
trade and economic growth.

Bilateral Agreement: Agreement between two

countries to facilitate trade, investment, or other
economic cooperation.

Page 36 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
Multilateral Agreement: Agreement involving
multiple countries to address common
economic, social, or environmental issues.

International Monetary Fund (IMF):

International organisation providing financial
assistance and policy advice to member
countries facing economic challenges.

Caribbean Community (CARICOM):

Regional organisation fostering economic
cooperation and integration among Caribbean
countries.

African, Caribbean, and Pacific (ACP):

Group of countries promoting economic and
political cooperation with the European Union.

Free Trade Area of America (FTAA):

Proposed trade agreement aimed at creating a
free trade zone throughout the Americas.

Association of Caribbean States (ACS):

Regional organisation promoting cooperation
and sustainable development among Caribbean
states.

Caribbean and Canadian Association

(CARIBCAN): Trade agreement providing
preferential access to the Canadian market for
Caribbean countries.

Page 37 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
Caribbean Single Market and Economy
(CSME): Regional initiative seeking to create a
single economic space in the Caribbean region.

World Bank: International financial institution

providing loans and grants to support
development projects in developing countries.

Organisation of Eastern Caribbean States

(OECS): Regional organisation promoting
economic and political cooperation among
Eastern Caribbean countries.

European Union (EU): Political and economic

union of European countries, fostering
economic integration and cooperation.

Caribbean Basin Initiative (CBI): A program

launched by the United States to promote
economic development and trade with
Caribbean and Central American countries
through preferential trade agreements.

Caribbean Development Bank (CDB): A

financial institution that provides development
financing and technical assistance to support
economic growth and infrastructure projects in
the Caribbean region.

Page 38 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
Foreign Direct Investment (FDI): Investment
made by a company or individual from one
country into a business or asset in another
country, typically involving significant
ownership and control over the foreign entity.

(Note: The information provided is concise and

may not encompass the full complexities of
each term or entity mentioned.)

Page 39 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 19

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Preferential Tariff Students will: World Trade Organization (WTO) replaced the Explaining what is meant by WTO Martin John: Economics Portfolio
Arrangement General Agreement on Tariffs(GATT); its main Caribbean Secondary
Understand the function is to ensure that trade flows as smoothly, Explaining the principles of the WTO Certificate CSEC,
benefits and costspredictably and freely as possible trading systems Caribbean Education
of preferential Publishers. 2018. Pages
tariff Principles of the trading system: 395-396
arrangements in i. Non-discrimination
light of ii. Reciprocity
discussions within iii. Binding and enforceable commitments
the World Trade iv. Transparency
Organisation
(WTO). Some advantages of the WTO to small nations are: Identifying and explaining the
i. Market access advantages of the World Trade
ii. Transition to the tertiary sector Organisation

Some disadvantages of the WTO to small nations are: Identifying and explaining the
i. Bias towards rich countries disadvantages of the World Trade
ii. Undermining of local-level decisions Organisation
iii. Developing countries' access to some developed
countries' markets is not allowed

SCHOOL-BASED SUBMISSION OF SBA FINAL REPORT

ASSESSMENT

Page 40 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 20

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Trade Students will: Trade liberalisation: Explaining the meaning of the term trade Clavery Peter, et al.: Quiz
Liberalisation Refers to the process of opening up trade between liberalisation Economics for CSEC –
Recall the nations by removal of trade restrictions Study Guide, Nelson
meaning, Thornes, (2012). Pages
benefits and Principles of trade liberalisation: 170-171.
costs of trade i. The non-discrimination principle Explaining the principles of trade
liberalisation. ii. The principle of reciprocity liberalisation Martin John: Economics
Caribbean Secondary
Advantages of Trade liberalisation: Certificate CSEC,
i. Specialisation Outlining the advantages and disadvantages Caribbean Education
ii. Increased competition of trade liberalisation Publishers. 2018. Pages
iii. Lower prices 392- 393
iv. Economies of scale

Disadvantages of Trade liberalisation:

i. Imbalance of industries and economies
ii. The exploitation of the environment
iii. Lack of competitiveness of developing
countries

Page 41 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 21

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Globalisation Students will: Globalisation – is the process of global Defining what is meant by globalisation Martin John: Economics Home assignment
integration of the economies of nations by Caribbean Secondary
Appreciate the allowing the unrestricted flow of goods, services, Certificate CSEC,
meaning, investments and currencies between and among Caribbean Education
advantages and countries. Publishers. 2018. Pages 393
disadvantages of - 395
globalisation. Effects of globalisation: Outlining the effects of globalisation
i. Industrial – the emergence of worldwide
production markets
ii. Financial – the emergence of worldwide
financial markets
iii. Economical – the realisation of a
common global market based on the
freedom of exchange of goods and capital
iv. Informational – the increase of
information flows between
geographically remote locations

Advantages of globalisation: Explaining the advantages and

i. Goods and people are transported with disadvantages of globalisation
more ease and speed
ii. The possibility of war between developed
countries decreases
iii. Free trade between countries increases

Page 42 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11
iv. Global mass media connects all the
people in the world
v. The communication between individuals
and corporations in the world increases

Disadvantages of globalisation:
i. Poorer countries are handicapped in
exporting
ii. The exploitation of impoverished foreign
workers
iii. A shift from manufacturing to service
work
iv. The rise of part-time or temporary work
v. Weakening of labour unions and labour
movements

Page 43 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 22

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Globalisation Students will: Effects of globalisation and trade liberalisation Bahaw Edward, Mollick Group discussion
and trade on Caribbean firms: Identifying the effects of globalisation and Wajid: Comprehensive
liberalisation Analyse the i. Increased competition with foreign products trade liberalisation on Caribbean firms, Economics for CSEC,
effects of ii. Increase in the number of multinational consumers and the sovereignty of territories Caribbean Educational
globalisation and corporations (MNCs) l which creates Publishers. Pages 314-320
trade intense competition for local firms
liberalisation on iii. Firms will have to increase their Gopie Patricia: Economics
Caribbean firms, advertisements internationally for CSEC Examinations,
consumers and Effects of globalisation and trade liberalisation Macmillan, (2010). Page
the sovereignty of on Caribbean consumers: 196-198
territories. i. Increase in standard of living Explaining the effects of globalisation and
ii. Unemployment may increase trade liberalisation on Caribbean firms,
iii. Increase in tourism and international travel consumers and the sovereignty of territories Martin John: Economics
iv. The spread of food culture Caribbean Secondary
Effects of globalisation and trade liberalisation Certificate CSEC,
on the sovereignty of territories in the Caribbean Education
Caribbean : Publishers. 2018. Pages 371
i. The exploitation of natural resources by
M.N.C.s Economics paper 2 2009,
ii. Small and infant industries may close down question 6, 2014, question 8
iii. Increasing imports may result in a trade
deficit
iv. Increase in immigration from developing
countries to countries with more
opportunities

Page 44 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 23

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Preferential Students will: Preferential trading arrangement –an Explaining the meaning of Bahaw Edward, Mollick Wajid: Portfolio
Tariff arrangement where one country agrees to allow Preferential Tariff Arrangement Comprehensive Economics for CSEC,
arrangement Evaluate the imports from a chosen country at a preferential Caribbean Educational Publishers. Pages
benefits and costs tariff. 307-308
derived from the
participation of Preferential Tariff - a reduced tariff granted Explaining what is meant by Clavery Peter, et al.: Economics for
CARICOM by one country on certain goods from another preferential Tariff. CSEC – Study Guide, Nelson Thornes,
countries in country. (2012). Pages
preferential trade 166-168.
arrangements Some preferential trading agreements Identifying preferential trading
involving Caribbean countries: agreements that involve Caribbean Gopie Patricia: Economics for CSEC
countries. Examinations, Macmillan, (2010). Page
i. The Caribbean Basin Initiative (CBI.) 191-192
ii. CARIBCAN
iii. The African Caribbean and Pacific Economics 2011 paper 2, question 6 (d)
Group of States (ACP.)

Page 45 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 24

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Week 23 cont.d Students will: Reasons for granting preferential tariffs: Outlining reasons for preferential Tariff Gopie Patricia: Economics Portfolio
for CSEC Examinations,
Recall the i. To boost exports Macmillan, (2010). Page
Preferential benefits and costs ii. To promote trade within a group and 191-192
Tariff derived from the develop trading ties
arrangement participation of iii. Foreign policy reasons Economics 2011 paper 2,
CARICOM question 6 (d)
countries in
preferential trade
arrangements Explaining the benefits and costs of
Benefits of Preferential Tariff: preferential Tariff
i. Stronger trading relations between countries
ii. Increased interaction in international
markets
iii. Guaranteed steady export market

Cost of preferential Tariff:

i. Creates dependency on preferential
arrangements
ii. Buyers in countries that offer preferential
arrangements have to pay higher prices for
goods
Dependency discourages innovation

Page 46 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 25

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Benefits Students will: Economic benefits of CSM: Identifying possible social and economic Clavery Peter, et al.: Quiz
derived from i. Increased trade by specialisation benefits to be derived from the free Economics for CSEC –
CSME. Appreciate the ii. Access to a larger regional market movement of capital, goods and labour Study Guide, Nelson
benefits to be iii. Removal of trade barriers which will lead to within the CARICOM. Thornes, (2012). Pages
derived from the cross-border competition 176-177
Caribbean Single
Market and Social benefits of CSME: Gopie Patricia: Economics
Economy CSME. i. Shared responsibility for common problems Explaining the social and economic for CSEC Examinations,
ii. Shared participation by people across the benefits to be derived from CSME Macmillan, (2010). Pages
Caribbean 210-211
iii. Free movement of people will see the best
persons suited for the job being employed Economics 2011 paper 2,
Free movement of capital will see Caribbean citizens question 8 (d)
investing in projects within the region that yield the
highest returns within CARICOM.

Page 47 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

Suggested Teaching and Learning Activities

To facilitate students' attainment of the objectives of this Section, teachers/facilitators are encouraged to engage students in the teaching and learning activities below.

1. Use scenarios like the one below as examples of economic activities to illustrate the possible social and economic benefits derived from the free movement of capital, goods and labour
within CARICOM.
A Barbadian national living and working in St. Vincent sent home most of his income to help care for his family. Discuss how arrangements and approaches such as CARICOM assist
Caribbean economies.

2. Engage students in activities where they use economic data such as GDP and GNP to stimulate discussions on the economic implications of globalisation, trade arrangements, and
international bodies such as the World Bank, IMF, and CSME. The appropriate use of economics jargon must be encouraged.

3. The teacher will outline examples of economic occurrences such as, 'There has been a significant increase in the number of items made in other Caribbean countries on the supermarket
shelves in Jamaica.'

Ask students to suggest possible reasons for each example, and the teacher should also probe students as necessary to encourage discussions on the implications of the occurrence for the
country of origin of the products and Jamaica. The appropriate use of economics jargon must be encouraged.

RESOURCES
Bahaw, E. and Mollick, W. Comprehensive Economics for CSEC. Caribbean Educational Publishers, 2008.
Greenwood, R. and Cook, T. Economics for CSEC. Cambridge University Press, 2007.
Robinson, K. and Cooke, N. Economics for CSEC with SBA, Study Guide and Exercises. Carlong Publishers 2011

Page 48 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 26

GENERAL
TOPIC/SUB- EVALUATION
OBJECTIV CONTENT ACTIVITY RESOURCE
TOPIC STRATEGY
E

E-commerce Students E-commerce - The buying and selling of goods and Defining what is meant by e-commerce. Clavery Peter, et al.: Portfolio
will: services online. Economics for CSEC –
Identifying the forms of e-commerce Study Guide, Nelson
Apply the Forms of e-commerce: Thornes, (2012). Page
concepts, i. B2C commerce (business-to-customer) 180
principles, ii. B2B commerce (business-to-business)
approaches, iii. C2C commerce (customer-to-customer) Gopie Patricia: Economics
and issues for CSEC Examinations,
associated Benefits of E-commerce to the Consumer: Macmillan, (2010). Pages
with e- i. Access to a broader range of firms to purchase Outlining the benefits of e-commerce to 216-218
commerce from consumers, businesses and the economy
ii. Around-the-clock shopping Martin John: Economics
iii. Convenience Caribbean Secondary
iv. Time-saving Certificate CSEC, Caribbean
Education Publishers. 2018.
Pages 397-398

Economics 2010 paper 2,

question 8

Page 49 of 52
 NATIONAL SCHEME FOR SECONDARY SCHOOLS
Curriculum Area: Economics GRADE 11

WEEK 27

TOPIC/SUB- GENERAL EVALUATION

CONTENT ACTIVITY RESOURCE
TOPIC OBJECTIVE STRATEGY

Benefits of E-commerce to the business:

i. A wider market for the business
ii. The cost of setting up a business is
smaller
iii. Businesses can grow overnight Outlining the benefits of e-commerce to
Students will: consumers, businesses and the economy
Martin John: Economics
Caribbean Secondary
Recognise the
Certificate CSEC, Caribbean
concepts, Benefits of E-commerce to the economy:
lE-commerce Education Publishers. 2018.
principles, i. Job creation (some jobs) Portfolio
Pages 397-398
approaches, and ii. Increase in foreign currency earnings
issues associated Explaining the challenges of e-commerce
Economics 2010 paper 2,
with e-commerce in an economy
question 8
Challenges of e-commerce:
i. Traditional shops will lose business
ii. Credit card fraud
iii. Some sites may not be reputable
iv. Delay in receiving goods

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