ECONOMICS
Dear Grade 12 learner À South Africa’s endeavours/The appropriateness of SA
strategies
Congratulations that you have finally reached Grade 12
Economics, the ‘science of decision-making! You have made Economic and social performance indicators
many sound choices to have reached this stage of your high À Performance of an economy
school career in Economics. À Economic indicators
À Social indicators
Content Checklist
À International comparisons
Below is a checklist you should use to ensure that you have
covered the Grade 12 Economics content in full. CONTEMPORARY ECONOMIC ISSUES (Paper 2)
À Inflation
À Tourism
TERM 1 À Environmental sustainability
MACRO ECONOMICS (Paper 1) Assessment
Circular flow model School based (25%): 100 marks
À Presentation of the circular flow model / Markets / National À Term 1: Assignment, Control test
account aggregates and Conversions / Multiplier À Term 2: Research project, Midyear examination
Business Cycles À Term 3: Case study, Trial Examination
À Composition and features / Explanations Government policy / External Senior Certificate Examination: (75%)
New economic paradigm / Features underpinning forecasting À Paper 1: Macro / Economic Pursuits: 2 hours 150 marks
Role of the Public Sector À Paper 2: Micro / Contemporary Issues: 2 hours 150 marks
À Composition, Necessity, Problems, Objectives
À Fiscal policy including Laffer curve Composition of paper:
À Reasons for public sector failure À Section A:
Foreign exchange market • Multiple-choice Items
À Main reasons for international trade • Match items
À Balance of payments account • Give one term for each of the descriptions given
À Foreign exchange markets À Section B:
À Establishment of foreign exchange rates • Answer any TWO questions of the three from this section
À Corrections of balance of payments surplus and deficit À Section C: (Essay responses):
Answer any ONE question of the two from this section.
TERM 2 Tips for Success:
MICRO ECONOMICS (Paper 2) À All learners are to make use of the current Examination
Dynamics of markets: Perfect markets Guideline Document to prepare for all their examinations.
À Perfect competition / Individual business and industry / Learners to ensure that they have a copy of this document
Market structure (comparative table) / Output / Profits / and / or download it from the national web-page of the DBE.
Losses and supply / Competition policies Link: [Link]
À Use previous examination papers and marking guidelines to
Dynamics of markets: Imperfect markets ascertain whether you have mastered the work AFTER you
À Dynamics of imperfect markets with the aid of cost and have understood the content from your note-/text book, and
revenue curves / Monopolies / Oligopolies / Monopolistic not as the only way of learning.
competition Link: [Link]
Dynamics of markets: Market failures À Read the financial and business section of the daily
À Causes of market failures newspapers – your knowledge about this is assessed in the
examination paper.
À Consequences of market failures
À Cost-benefit analysis
Best of luck! May you be successful and find your
ECONOMIC PURSUITS (Paper 1) final year of studying Economics interesting and
Protection and Free Trade meaningful. ENJOY Economics!
À Export promotion/Import promotion/Protectionism (the
arguments)/A desirable mix/Evaluation
Economic growth and development
À Demand-side approach/Supply-side approach/Evaluation of
the SA approaches/North vs South divide.
TERM 3
ECONOMIC PURSUITS (Paper 1) Quiz on terminology
and concepts
Economic growth and development: Industrial
development policies [Link]
À SA industrial development/Regional development
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