10th Grade – Economics

Philosophy Statement
WIS aims to develop Christian leaders who will have an impact on their world. Many Christians are unable to have a credible voice for change on a national and international level, because they do not have even a basic grasp of fundamentals of economic theory and the simple nature of cause and effect in local and global economic markets. We want to educate students to be deep thinkers about the consequences of their own economic decisions. All economic decisions have a significant moral dimension; therefore WIS desires to raise up Christians and prepare them for leadership with a sound understanding of how the Bible addresses issues of money, greed, wealth accumulation, poverty and justice and the distribution of wealth and resources. We want to develop well rounded young disciples who will be able to take a biblical stand on economic and social issues facing the world today. This course will help shape citizens of the world. Students of economics will learn the importance of personal integrity as they interact with real world economic issues. It is our aim that students of economics will develop a heart that seeks after the presence and power of God and a heart for justice in God’s world more than riches or man’s praise.

Course Objective
To introduce the students to fundamental economic concepts, both micro- and macro-economics (ESLR: ET, NLL)
To help students critically compare and contrast economic theory in the light of Scriptural truth (ESLR:RUC, DC).
To apply economic theory to current world situations and present information in a variety of forms (ESLR: ET, SCW, DC, NLL)

Resources
Economics Principles and Practices, by Gary E Clayton, MacMillan/McGraw-Hill Publishers, 1999;
Economics – Year 11, New Zealand Pathfinder Series, by Thomas, Walsh and Barker, Newhouse Publishers, 2000; Understanding Economic Issues, Part A & B, by Dan Rennie, Rennie Resources, 2001; Internet sites

Time Allotment
Fifty minutes per day, five days per week for one year.

Course Content

  • What is Economics? Basic concepts
  • Micro-Economics – Supply and demand theory, market structures, market failure and the role of government.
  • Macro-Economics: Institutions – Government spending and revenue, the labor market and the money market. Macro-Economics:Policies- GDP, Unemployment, Inflation, Growth, Poverty, and Achieving Economic Stability.
  • International and Global Economics: Trade, Comparative Systems, Global Challenges.

Evaluation
Teacher-made topic tests
Student (individual and group) projects
Regular pop quizzes to test homework
An individual journal project on the book “Rich Christians in an Age of Hunger” by Ronald Sider
A Compare and Contrast activity each quarter where economic ideas are evaluated alongside Bible passages and themes.

 

Wesley International School

Kotak Pos 275
Malang, East Java, Indonesia 65101

Phone: (62) 341 586410
Email: wesley@wesleyinterschool.org