This is a representative list of topics covered in our Grade 5 Economics program - however all programs will be customized for the individual student.
ECONOMIC SYSTEMS
- Similarities and Differences in Economic Systems
- Traditional, Command and Market Economics
- Measures of Economic Activity
- Expansion, Recession and Depression in the Economy
MARKETS AND THE FUNCTIONS OF GOVERNMENTS
- Market Transactions
- Costs and Benefits of Competition
- Function of Money
- Economic Institutions
- Changes in Supply and Demand
- Forces that can change Price
- Sources of Tax Revenue
- Economic Roles for Governments
- Public Goods
- Costs and Benefits of Taxation
- Impact of Media on the Cost and Benefits of Decisions
- Exchange Rates
SCARCITY AND CHOICE
- Scarcity and Limited Resources
- Economic Reasoning of Choices
- Allocation of Resources
- Marginal Analysis and Decision-making
- Opportunity Cost
- Incentives
ECONOMIC INTERDEPENDENCE
- Specialization
- Trade
- Implementation or Reduction of Trade Barriers
- Global Production and Consumption of Goods or Services
- Comparative Advantage
- Geographic Patterns of Economic Activities
WORK AND EARNINGS
- Factors influencing Wages
- Labor Productivity
- Types of Businesses
- Profits and Losses
- Distribution of Wealth
- Entrepreneurship
- Costs and Benefits of Saving
- Impact of Interest Rates
