Page 95 - THE ONTARIO CURRICULUM, GRADES 11 AND 12 | Canadian and World Studies

Overall Expectations and Related Concepts of Economic Thinking
Big Ideas*
Framing Questions*
D. Macroeconomics
D1. Macroeconomic Models and Measures: demonstrate an understanding of various macroeconomic models and measures, including indicators used to measure economic inequalities, and assess their usefulness (FOCUS ON: Stability and Variability; Economic Perspective)
Statistical indicators are useful tools for comparing countries and analysing global economic issues .
What considerations are missing from some of the common indicators used to measure economic growth and well-being?
What are some ways in which individuals and/or groups influence economic policies in a country?
How does the Bank of Canada influence financial markets?
How do the fiscal policies of the federal government affect individuals in Canada?
D2. Fiscal Policy: demonstrate an understanding of fiscal policy in Canada, including how it is shaped and its impact (FOCUS ON: Economic Significance; Cause and Effect)
A government’s fiscal policies have an impact on individuals, organizations, and other levels of government .
D3. Monetary Policy: analyse various aspects of monetary policy in Canada and their impact on the economy (FOCUS ON: Cause and Effect; Economic Perspective)
The Bank of Canada’s monetary policies affect financial institutions and thus consumer decisions .
E. Global Interdependence and Inequalities
E1. Theories and Models of International Trade: analyse various theories, models, and issues relating to international trade (FOCUS ON: Economic Significance; Stability and Variability)
Changes in international trade practices and agreements have an impact on the individual consumer .
Why is it important to be aware of the ethical and/or environmental implications of trade practices?
How does economic globalization affect society, culture, and the environment?
How might an individual or group address economic inequality and the problems that are associated with it?
How do people create economic change?
E2. International Economic Developments: analyse the impact of some key international economic events and developments as well as various responses to them (FOCUS ON: Stability and Variability; Economic Perspective)
The shifting global economy has an impact on how different nations, groups, and individuals respond to economic problems .
E3. International Economic Power and Inequality: explain the main causes and effects of global economic disparities and assess the effectiveness of responses to these disparities (FOCUS ON: Cause and Effect; Economic Perspective)
Economic disparity continues to be a national and international problem .
OVERVIEW
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Analysing Current Economic Issues
CIA4U