Page 110 - THE ONTARIO CURRICULUM, GRADES 11 AND 12 | Canadian and World Studies

Grade 12, Workplace Preparation
Overall Expectations and Related Concepts of Economic Thinking
Big Ideas*
Framing Questions*
B. Developing Financial Literacy
B1. Financial Goals and Financial Planning: explain how various factors can affect individuals’ financial plans and goals (FOCUS ON: Cause and Effect; Economic Perspective)
Sound financial planning involves a number of key principles .
What is the difference between a need and a want?
What factors can affect a person’s financial goals?
Why is it important to start saving early?
Why is it important to understand different types of credit and debt?
What are some key ways in which governments in Canada use tax revenue?
B2. Savings, Credit, and Debt: demonstrate an understanding of some key considerations relating to savings, credit, and debt (FOCUS ON: Economic Significance; Cause and Effect)
Personal financial choices can affect an individual’s ability to secure credit .
There are positive and negative aspects to personal debt .
B3. Taxes and Government Expenditures: explain some ways in which governments in Canada raise revenue, with particular emphasis on personal income tax, and analyse the purpose of government expenditures (FOCUS ON: Economic Significance; Stability and Variability)
Governments raise revenue in various ways .
Some government expenditures are intended to address socio-economic inequality in Canada .
C. Economic Fundamentals
C1. Scarcity and Choice: demonstrate an understanding of scarcity and some other key economic concepts, and analyse how they affect economic decision making (FOCUS ON: Economic Significance; Stability and Variability)
Scarcity is a basic economic problem .
What impact does scarcity have on your own and others’ economic decisions?
Why might stakeholders differ in their assessment of the costs and benefits of organized and unorganized labour?
How do entrepreneurs contribute to the Canadian economy?
Why might different stakeholders have different perspectives on economic issues that affect the environment?
C2. Understanding the Canadian Economy: demonstrate an understanding of some economic concepts and how they are related to key aspects of the Canadian economy (FOCUS ON: Stability and Variability; Economic Perspective)
Households, businesses, and governments all contribute to Canada’s economy .
C3. The Role of Labour: analyse the role of labour in the Canadian economy (FOCUS ON: Cause and Effect; Economic Perspective)
Workers in Canada have both rights and responsibilities .
C4. Stakeholders’ Views on Economic Issues: analyse
a variety of economic issues from the perspectives of different stakeholders (FOCUS ON: Stability and Variability; Economic Perspective)
Different stakeholders can have different perspectives on economic issues .
Overview (continued)
Throughout this course, when planning instruction, teachers should weave the expectations from strand A in with the expectations from strands B–E.
Strands B–E
THE ONTARIO CURRICULUM, GRADES 11 AND 12 | Canadian and World Studies
* See page 17 for a discussion of the purpose of big ideas and framing questions.
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