Page 91 - THE ONTARIO CURRICULUM, GRADES 11 AND 12 | Canadian and World Studies

jobs or retrain workers, hiring contract workers, using temporary foreign workers, outsourcing, merging, seeking foreign investment, taking a private firm public or vice versa, cutting costs
of production, moving offshore)
Sample questions: “Why are there so many migrant farm workers in Canada?” “What is an initial public offering? How can it help raise capital for a firm that has been held privately?”
E2. Weighing Trade-offs, Making Choices
FOCUS ON: Cause and Effect; Stability and Variability
By the end of this course, students will:
E2.1 explain criteria that firms use in deciding how to allocate scarce resources (e.g., when to hire or lay off workers, whether to invest in new technology, the amount of funding for research and development, whether to sponsor cultural events or community organizations)
Sample questions: “What criteria would a business use to determine whether to support a cultural or sports event? What are the potential benefits of such support? What restrictions do cigarette companies face with regard to such sponsorship? Why?” “In what ways might the commitment to profits for shareholders influ- ence how a corporation allocates its resources?”
E2.2 explain why governments provide financial support to corporations, non-governmental organizations, and other groups (e.g., to create jobs and/or prevent loss of jobs, to encourage research and development, to promote cultural events, to increase literacy or enhance skills, to support private programs that provide services to specific groups, to enhance their political support)
Sample questions: “What criteria might the federal government use to determine how to allocate grant money to companies researching sustainable energy sources?” “Why might
a government help to subsidize a firm that
has low profits? Do you think this is a wise investment? Why or why not?” “Why do governments fund service organizations?”
E2.3 explain business decisions (e.g., layoffs, relocation, outsourcing, technological integration, mergers) that may be taken in response to economic challenges and/or fluctuations (e.g.,
recessions, increased competition, changes in trade, technological change, shortages of skilled workers)
Sample questions: “What rationale might a company use to continue paying their employees during a closure as a result of a fire or other disaster?” “Why might a business decide to restructure jobs instead of laying off workers?” “Why have some manufacturing and services moved to Asia in the past few decades?”
E3. Economic Globalization
FOCUS ON: Economic Significance; Economic Perspective
By the end of this course, students will:
E3.1 assess the impact of globalization on the Canadian economy, with particular reference to income inequality in Canada
Sample question: “What impact has the moving of production from Canada to offshore loca- tions had on Canadian manufacturing and the communities where such industries were located?”
E3.2 assess the advantages (e.g., increased capital, potential for increased employment) and dis- advantages (e.g., loss of local decision making, loss of profits, corporate decisions that favour head office over subsidiaries) of foreign investment and ownership in Canada
Sample questions: “Should Ottawa allow other countries to own potash mines in Canada?” “Why does the Canadian government restrict foreign ownership of telecommunication companies?”
E3.3 describe key aspects of Canadian trade policy (e.g., with reference to the North American Free Trade Agreement, the proposed Canada– European Union Comprehensive Economic and Trade Agreement, membership in the World Trade Organization, tariffs and subsidies, export of natural resources, largest trading partners), and explain its impact
Sample questions: “Should Canada sell resources such as asbestos or depleted uranium to countries that could use them in an unethical manner?” “What are some of the effects of increasing trade with China on Canadian society and the economy?”
ECONOMIC INTERDEPENDENCE
89
The Individual and the Economy
CIE3M