Course Economics 12
Teacher Ms. Dana Guest
School Year 2026–2027
Curriculum BC Grade 12
Credits 4
Overview
Course Description

Economics 12 introduces students to the principles of economics at both the micro and macro level. Students examine how individuals, firms, and governments make decisions in a world of scarce resources. The course connects economic theory to real-world events in Canada and globally, and develops analytical and quantitative skills that are valuable across disciplines.

The course follows the British Columbia Ministry of Education Economics 12 curriculum and prepares students for post-secondary study in economics, business, and social sciences.

Units
Course Content
Unit 1 — Economic Foundations
  • Scarcity, choice, and opportunity cost
  • Production possibilities and trade-offs
  • Comparative advantage and gains from trade
  • Economic systems and the role of markets
  • Circular flow model
Unit 2 — Consumer Behaviour & Decision-Making
  • Demand: law, determinants, and elasticity
  • Supply: law, determinants, and elasticity
  • Market equilibrium, surpluses, and shortages
  • Price ceilings and price floors
  • Consumer and producer surplus; welfare analysis
  • Behavioural economics: heuristics and biases
Unit 3 — Markets & Competition
  • Production decisions and costs
  • Perfect competition in the short and long run
  • Monopoly: pricing, output, and welfare effects
  • Monopolistic competition and oligopoly
  • Market failure: externalities and public goods
  • Government intervention: taxes, subsidies, and regulation
Unit 4 — Macroeconomics
  • GDP: measurement, components, and limitations
  • The business cycle: expansion, peak, contraction, trough
  • Unemployment: types, measurement, and costs
  • Inflation: CPI, causes, and consequences
  • Aggregate demand and aggregate supply (AD-AS)
  • Fiscal policy: government spending and taxation
  • Monetary policy and the Bank of Canada
Unit 5 — The Global Economy
  • International trade: comparative advantage and trade patterns
  • Trade policy: tariffs, quotas, and trade agreements
  • Balance of payments: current and capital accounts
  • Exchange rates and currency markets
  • Canada in the global economy
  • Economic development and sustainability
Assessment
How the Course is Marked

Your final grade is based on the following components. Specific due dates and rubrics will be distributed in class for each assessment.

Component Description Weight
Unit Assessments (×5) End-of-unit tests covering key concepts, diagrams, and short-answer questions 40%
Assignments & Quizzes In-class work, homework checks, and short quizzes throughout the semester 20%
Research Project One extended written or multimedia project applying economic analysis to a real-world topic 20%
Final Exam Cumulative exam covering all five units; held during the April–May exam period 20%
Expectations
Classroom Norms

Students are expected to arrive prepared, engage respectfully with all discussion, and submit work on time. Late work may be penalized at the teacher's discretion. Academic integrity — including honest use of AI tools — is expected at all times and follows the MBCIS Academic Honesty Policy.

If you are struggling with content or need additional support, please reach out early. Office hours and extra help sessions will be posted on the class calendar.