Economics Section:Further Reading Keywords – Class : Y11 Lesson Topic: Government & Economy Scheme of Work: Macroeconomic Objectives

Economics Section:Further Reading Keywords –

Economics Section:Further Reading Keywords – Lesson Objectives ALL (KNOWLEDGE) Define Objective and explain each one MOST (ANALYSIS) Analyse the importance of objectives to an economy SOME (EVALUATION ) Justify which objective is the most important P&D Planning and Planning and Data Higher thinking Skills

Economics Section:Further Reading Keywords – Planning Tools P&D Planning and Planning and Data

Economics Section:Further Reading Keywords – Define and describe the terms of macroeconomic objectives [Grade E-D] Examine and Analyse the concepts of macroeconomic objectives [Grade C-B] Evaluate the importance of each objective [Grade A-A*]

Economics Section:Further Reading Keywords – CONNECTIVES for Analysis CONNECTIVES for Application CONNECTIVES for Evaluation COMPARING Equally… As with… Like… In the same way… Similarly… Even so… Likewise… CAUSE & EFFECT Consequently…Due to… As a result…Therefore.. Because of…Because… CONCLUDING Firstly…After… Secondly…Before… Overall…I believe… Finally…I think … In conclusion…it depends… To conclude…short term… Meanwhile…Long term… CONTRASTING Although…Except… Moreover…If… However…Yet… Apart from…Unless… Despite…As long as… EMPHASISING Most importantly… Significantly… Notably… Especially… Above all… In particular… Indeed… QUALIFYING Despite…Yet… As long as…Unless… Apart from…If… Moreover…Except… However…Although… ADDING In addition…And… Too…Also… Additionally…As well as… Furthermore… ILLUSTRATING For instance…Such as… In the case of…So… For example… As revealed by… As illustrated by…

Economics Section:Further Reading Keywords – Climb the Ladder A-A* 1.To what extent 2.Do you think 3.Evaluate whether (8-10m) 10+ connectives & key words C-B 1.Explain 2.Compare 3.Analyse (5-8m) 5+ connectives & key words E-D 1.Define 2.Describe 3.Identify (2-4m) 2 + connectives & key words ATD Apply to Apply to demonstrate

Economics Section:Further Reading Keywords – What is macroeconomics? MACRO = BIG! Macroeconomics considers the performance of the economy as a whole.

Economics Section:Further Reading Keywords – Performance Indicators Economic Growth - GDP Unemployment Inflation Balance of payments Environment

Economics Section:Further Reading Keywords – Policy Objectives Steady growth Low unemployment Low and stable inflation Low interest rates Surplus on current account of the balance of payments Stable and competitive exchange rates

Economics Section:Further Reading Keywords – 1. Economic Growth - trends in national output and living standards Economic growth is the percentage increase in real national output in a given time period or a sustained increase in REAL GDP GDP = Gross Domestic Product

Economics Section:Further Reading Keywords – Economic Growth Business Cycle – recession and recovery Time Growth Recession Economic Activity (GDP)

Economics Section:Further Reading Keywords – 2. Unemployment Definition The unemployed are those registered as able, available and willing to work at the going wage rate who cannot find employment.

Economics Section:Further Reading Keywords – 3. Inflation Inflation measures the annual rate of change of the general price level in the economy. Definition: Inflation is a sustained increase in the average price level.

Economics Section:Further Reading Keywords – 4. Balance of Payments A countries imports and Exports. The balance of payments is a record of all the financial dealings of the UK with the rest of the world. It can be split into two components The Current Account – Visible Trade – Invisible Trade The Capital Account – The movement of money.

Economics Section:Further Reading Keywords – The Government has several current objectives: Stable low inflation with prices rising at a rate within the target range of 1.5% - 2.5% per year Sustainable growth - as measured by the rate of growth of real Gross Domestic Product Positive balance of trade – Trade surplus

Economics Section:Further Reading Keywords – Lesson Objectives ALL (KNOWLEDGE) Define Objective and explain each one MOST (ANALYSIS) Analyse the importance of objectives to an economy SOME (EVALUATION ) Justify which objective is the most important P&D Planning and Planning and Data Higher thinking Skills

Economics Section:Further Reading Keywords – Climb the Ladder A-A* 1.To what extent 2.Do you think 3.Evaluate whether (8-10m) 10+ connectives & key words C-B 1.Explain 2.Compare 3.Analyse (5-8m) 5+ connectives & key words E-D 1.Define 2.Describe 3.Identify (2-4m) 2 + connectives & key words ATD Apply to Apply to demonstrate

Economics Section:Further Reading Keywords – Pass the Parcel Add as much information you can remember from today’s lesson When the horn blows – pass your sheet to the next table! R Review the Learning Review the Learning

Economics Section:Further Reading Keywords – Neighbours 2 things your neighbour has learnt today 1 question your neighbour wants to ask R Review the Learning Review the Learning

Economics Section:Further Reading Keywords – Summarise your learning today into a single tweet 140 characters Keep all of the information Tweet STOP R Review the Learning Review the Learning

Economics Section:Further Reading Keywords – 1 question you need to ask 2 new things you learnt 3 pieces of information R Review the Learning Review the Learning

Economics Section:Further Reading Keywords – 5 minutes... GO STOP