Current Economic Issues: Local, UK and EU economic issues

GCSE Economics – Year 11 AQA Unit 12: Investigating Economic Issues

Macintosh HD:Users:timpunter:Desktop:Teaching Jul 2010:Head of Department:Schemes of Work:GCSE Econ Unit12 scheme.doc1

Current Economic Issues: Local, UK and EU economic issues: Poverty

ResearchCandidates should use a variety of data (both statistical and non-statistical) in their research. In addition to statistical websites thereis a wide variety of news items in this area. Care should be taken to guide candidates away from overly theoretical studies that wouldbe inappropriate for their age and ability.

LimitationsCandidates should focus on issues in their local area and in the UK in general. They should restrict their study to the last ten years.

SPECIFICATIONCONTENT RESOURCES AND OTHER GUIDANCE

1 week

07th Jun –

1 week

14th Jun –

Introduction to CurrentEconomic Issues-

Topic 1

Research Portfolio

The meaning of poverty

Poverty in UK

Types of poverty• Absolute and

relative

Go through the scheme of work for Unit 12.

Introduce current economic issues- Topic 1 Poverty in the UK Economy.

Give students a copy of the ‘ AQA Topics for investigation and Teachers’ notes’ forJun 11 examination.

Introduce research portfolio- where students will be given a framework to follow for theirresearch. They should keep a file or folder with all the research conducted for this topicincluding articles from internet, books, magazines, newspapers and possibly video clipson a storage device. To make sure that they carry out research, students should be toldthat this portfolio will be marked and the marks will go in the grade tracker.

Introduce poverty

www.jrf.org.uk/film/poverty-media-overview

http://news.bbc.co.uk/cbbcnews/hi/specials/2006/the_wrong_trainers/default.stm

Articles from shared folder about’ mythology of poverty’ and ‘poverty-definitions’

Students can access statistics for the local area onhttp://www.endchildpoverty.org.uk/why-end-child-poverty/poverty-in-your-area

Adapt the presentations on types of poverty from www.tutor2u.net/presentations

Articles from shared folder- ‘ reporting-poverty-journalist guide’, ‘poverty –definitions’



Causes of poverty- Poor education, limitedinfrastructure,unequalincome,socialdeprivation, drugs andalcohol dependency.

Students need to know about the various causes of poverty which can be found fromwww.tutor2u.net/presentations and articles ‘EAPN Explainer’

Articles on ‘ Child poverty and housing’ and ‘monitoring poverty and social exclusion2009’

1 weeks

21st Jun

Effects of poverty

• Individual

• UK Economy

Solutions to poverty

• Taxes, subsidies,governmentexpenditure,wages policies, lawsamongst others.

Ethical considerations

www.jrf.org.uk/film/poverty-media-overview

www.barnados.org.uk

www.jrf.org.uk

www.barnados.org.uk gives information about actions to deal with child poverty.

www.ukcap.org

Articles

‘How to halve child poverty by 2010’

‘Eradicating UK poverty summary’

‘Through thick and thin’

‘Budget 2010- child poverty’

‘Government and policy on poverty’.

www.jrf.org.uk

Other relevant websites and articleswww.statistics.gov.uk



www.ebrd.orgwww.youtube.com‘Summary poverty report’Very good article, strongly advised to read, ‘Reporting poverty in the UK’Newspaper articles.

2 weeks

28th Jun-

9th July

2 weeks Catching up on portfolio –

Completing portfolio incomputer room if available.

Work Experience



The Global Economy: Developing Economies (India and China)

ResearchCandidates should use a variety of data (both statistical and non-statistical) in their research. In addition to statistical websites thereis a wide variety of news items in this area. Care should be taken to guide candidates away from overly theoretical studies that wouldbe inappropriate for their age and ability.

LimitationsCandidates should focus on the study of India and China and developing countries in general. They should restrict their study to thelast ten years.

ResourcesTutor2u: www.tutor2u.net/revision_notes_economics_gcse.asp

Bized: www.bized.co.uk/educators/level2

UNIT 12 – MANAGING THE ECONOMYIn this section, candidates will consider targets and policies the government may use to achieve its objectives. Candidates willconsider fiscal, monetary and supply-side policies within the context of the economic cycle. Candidates will also consider theEuropean Union and its effect on the UK economy.

1.1 Economic Objectives of the Government

CONTENT Specification More Detail

6th Sep Economic Objectivesof the Government

1.1 Economic Objectives of theGovernment

Candidates should understand the principalgovernment objectives of economic growth, fullemployment, stable prices and balance of payments.



13thSep

Methods ofmeasurement andtrends over time

methods of measurement andtrends over timegovernment objectives, conflicts andethical issues the welfare state andits alternatives.

Candidates should be aware of the methods availableto measure economic performance such as: inflation,economic growth, the balance of payments, budgetsdeficits and surpluses.

Relevant methods will thus include the consumer priceindex (CPI), real gross domestic product (GDP) andthe significance of a balance of payments deficit orsurplus.

Candidates should not confuse balance of paymentsdeficits and surpluses with budget deficits andsurpluses.

20th Sep China and IndiaMeasures ofperformance

27th Sep China and IndiaCauses of economicgrowth

4th Oct Conflicts Candidates should be aware thatconflicts can arise when attemptingto achieve these objectives and thelinks to equity and equality.

Candidates should be aware that conflicts can arisewhen attempting to achieve the government’seconomic objectives and be aware of links to equityand equality. For example, there may be a trade-offbetween inflation and unemployment, or betweeneconomic growth and the balance of payments. Also,

11th Oct Unequal distributionof growth

economic growth may not benefit all sections ofsociety equally if it leads to a more unequal distributionof income and wealth.

18th Oct China and IndiaDistribution ofincome

1st Nov ethical issues Candidates should consider howethical issues affect theachievement of governmentobjectives.

Candidates should consider how ethical issues affectthe achievement of government objectives, forexample whether growth is sustainable, or whethertrade protection is ever justified in achieving balance ofpayments equilibrium.



8th Nov Ethicalconsiderationsregarding growth, egexternalities, equalityissues on China andIndia

15th Nov Impact of economicgrowth on China andIndia includingSustainabledevelopment issues



22nd

NovThe welfare state andits alternatives

Candidates should be aware of thebenefits and drawbacks of thewelfare state and the alternative ofindividuals providing for themselves.

Candidates should be aware of the benefits anddrawbacks of the welfare state and the alternative ofindividuals providing for themselves. They shouldappreciate that the welfare state enables people tohave access to education and healthcare ‘free’ at thepoint of consumption but that this may lead toshortages and variable quality of provision. Theprovision of state benefits may also lead to reducedincentives for some people to work.

29th Nov Testing Period key term, mock exam and portfolio deadline



1.2 The Economy at Work

ResourcesTutor2u: www.tutor2u.net/revision_notes_economics_gcse.aspBank of England: www.bankofengland.co.uk/education including ‘What if?’ filmBized virtual economy: www.bized.co.uk/virtualeceonomyBized virtual central bank: www.bized.co.uk/bankofbizedPeter Day’s ‘In Business’ BBC archive of radio podcasts:www.bbc.co.uk/inbusiness eg Winter 2007 ‘Monopoly Money’


6th Dec Types of economy Candidates should be aware of thedifferences between free marketand mixed economies.

Candidates should be aware of the differencesbetween free market and mixed economies. Theyshould appreciate that goods and services in the UKeconomy come about through a mixture of governmentand free market provision.`

13th Dec Market failure Candidates should understandmarket failure as the inability of themarket system to allocate resourcesefficiently.

Candidates should understand market failure as theinability of the market system to allocate resourcesefficiently. They should be aware that there are arange of possible sources of market failure includingnegative and positive externalities, immobility of labourand unequal distribution of income.

3rd Jan Externalities Candidates should understandexternalities as the differencebetween social costs (benefits) andprivate costs (benefits), and applythe concepts in a relevant context.

Candidates should understand externalities as thedifference between private costs and social costs, orprivate benefits and social benefits, and apply theconcepts in a relevant context.

Candidates should thus be aware of at least a smallnumber of examples of situations that may give rise toexternalities.

10thJan

The concept of aneconomiccycle

Candidates should be able toexplain the characteristics of theeconomic cycle: boom, recession,slump and recovery.

Candidates should be able to explain thecharacteristics of the economic cycle: boom,recession, slump and recovery. They should be awareof the key features of each of these stages in terms oflevels of economic activity.

17thJan

Government revenueand

Candidates need to consider howthe government collects revenueand its patterns of expenditure.

Candidates need to consider how the governmentcollects revenues and its patterns of expenditure. Theyshould thus be aware of the main types and objectivesof taxation and the main categories of governmentspending.



expenditure of taxation and the main categories of governmentspending.



24th Jan Fiscal policies Candidates should be aware of howthe government can affect levels ofincome and expenditure throughfiscal policies.

Candidates should be aware of how the governmentcan affect levels of income and expenditure throughfiscal policies. For example, they should understandhow increases and decreases in income tax candecrease/increase consumer spending and thusimpact upon total spending in the economy. Theyshould be aware of how fiscal policy can be used toachieve the government’s objectives.

31st Jan Monetary policies Candidates should be familiar withthe role of the Bank of England incontrolling the level of demand.

Candidates should be familiar with the role of the Bankof England in controlling the level of demand.Candidates should be aware of the use of interestrates to control inflation. They should broadlyunderstand how an increase or decrease in the officialinterest rate influences decisions about whetherconsumers spend or save, or whether businessesinvest. They should be aware of how monetary policycan be used to achieve the government’s objectives.

7th Feb Supply-side policies Candidates should be familiar withsupply side policies such as:education and training, incentivesTo work and competition policy.

Candidates should be familiar with supply-side policiessuch as: education and training, incentives to work andcompetition policy. They should understand that thesepolicies are largely fiscal in nature and that they aredesigned to improve long-term economic growth.

21stFeb

Testing periodKey terms & mock exam



1.3 The Role of the European UnionResourcesThe EU website: www.europa.euEurostat: http://epp.eurostat.ec.europa.euEuropean Central Bank: www.ecb.int


28th Feb The effects ofmembership of the EU

Candidates should understandthe significance of the EU as aSingle European Market with asingle European currency.

Candidates should understand the significance of the EU as aSingle European Market with a single currency. They shouldbe aware of the broad make-up of the EU and that it promotesthe free movement of goods, services, people and capitalbetween its members. They should be aware of the benefits ofEU membership to the UK, including trade and job creation. Adetailed knowledge of the European Commission is notrequired.

7th Mar The Euro Candidates should know thepotential benefits anddrawbacks of the UK joining theEuro.

Candidates should know the potential benefits and drawbacksof the UK not joining the Euro. They should thus be broadlyaware of the issues relating to exchange rate fluctuations andexchange costs, as well as the impact of deferring monetarypolicy to the European Central Bank (ECB). A detailedknowledge of the ECB is not required, however.

14thMar

The impact of EUenlargementon the UK

Candidates should have anappreciation of the potentialimpact on the UK economy ofEU enlargement.

Candidates should have an appreciation of the potentialimpact on the UK of EU enlargement, for example increasedpotential market size and possible competition for jobs.

21st Mar EU key terms test and exam practice

28th Mar UK Poverty recap

18th

AprilUK Poverty exampractice

25th

AprilMock Exam Unit 11 & 12

2nd May Mock Exam Unit 11 & 12

Documents

Current Economic Issues: Local, UK and EU economic issues