Page 78 - THE ONTARIO CURRICULUM, GRADES 11 AND 12 | Canadian and World Studies

Grade 11, University/College Preparation
Overall Expectations and Related Concepts of Economic Thinking
Big Ideas*
Framing Questions*
B. Fundamentals of Economics
B1. Scarcity and Choice: analyse the relationship between scarcity and choice and how these considerations affect economic decision making (FOCUS ON: Economic Significance; Cause and Effect)
Scarcity is a fundamental economic problem and has a major impact on economic decision making .
Why are there trade-offs in any economic decision?
How do your personal wants and needs influence your choices as a consumer?
How does scarcity affect the economies of different Canadian communities?
How do political values affect economic decisions?
What impact do people’s immediate and long-term financial goals have on their economic decisions?
B2. Economic Models: apply economic models to analyse economic choices and issues affecting Canada and Canadians (FOCUS ON: Cause and Effect; Stability and Variability)
Economists use models to illustrate theories about how the economy works and to analyse and predict change .
B3. Political and Economic Systems: analyse how different political and economic systems and entities, including governments in Canada, make economic decisions (FOCUS ON: Stability and Variability; Economic Perspective)
Economic decision making is affected by political values . Political decision making can be affected
by economic factors .
B4. Financial Planning: demonstrate an understanding of key considerations related to personal financial planning, and use economic data to analyse the costs and benefits of personal financial decisions (FOCUS ON: Economic Significance; Economic Perspective)
Individuals need to consider a range of factors when making decisions about saving, spending, borrowing, or investing money .
There can be “good debt” and “bad debt” .
C. Economic Challenges and Responses
C1. Market Systems: analyse how various factors, including the practices of different stakeholders, affect markets and the value of goods (FOCUS ON: Cause and Effect; Economic Perspective)
Different stakeholders can have different perspectives about which economic course of action is most appropriate .
How is the value of goods determined?
How can consumers influence markets?
Why do governments intervene in market systems?
Why might different categories of workers have different interests and perspectives?
What are the
main employment/ unemployment patterns in Canada?
C2. Workers in Canada: explain the main roles, practices, and concerns of workers, both organized and unorganized, in Canada (FOCUS ON: Economic Significance; Economic Perspective)
Workers in Canada have both rights and responsibilities .
C3. Employment Patterns and Trends: analyse patterns and trends related to employment and unemployment in Canada, their causes, and their impact on individuals and society (FOCUS ON: Cause and Effect; Stability and Variability)
Employment patterns
and types of employment change over time as a result of various factors, including changes in education, technology, demographics, and supply and demand .
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.
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
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