100

Economics is the study of how individuals, businesses, governments and other organisations within our society choose to use scarce resources to satisfy their numerous needs and wants in a manner that is efficient, equitable and sustainable.

FREE
Economics learners will be able to: • use resources efficiently to satisfy the competing needs and wants of individuals and of society; • understand the concept of monetary and real flows in an open economy within the confines of production, consumption and exchange; • develop skills to apply demand and supply, and cost and revenue analyses to explain prices and production levels; • understand reconstruction, growth and development, as well as a critical approach to initiatives for a fair distribution of income and wealth, human rights, and responsibilities; • acquire an advanced Economics vocabulary that will allow them to debate and communicate the essentials of the subject; • apply, in a responsible and accountable manner, principles that underlie basic economic processes and practices; • explore a variety of methods and strategies to analyse and explain the dynamics of markets; • collect, analyse and interpret production, consumption, and exchange data as well as other information in order to solve problems and make informed decisions; • understand human rights concerns, reflect on the wealth creation process, and engage in poverty alleviation; • analyse and assess the impact of local and global institutions on the South African economy, and • explain economic events and forecast their consequences or predict likely future outcomes.

Course Currilcum