1. Topic 4 - The Individual as Producer, Consumer and Borrower
MOTIVATING STUDENTS TO LEARN ECONOMICS IN SECONDARY SCHOOLS
Topic 4 - The Individual as Producer, Consumer and Borrower
Topic 5 - The Private Firm as Producer and Employer

2. Conducting Interviews
When conducting interviews, students will:
collect real data and develop their research skills
improve their communication skills
be able to practise social etiquette

3. Some suggestions on conducting interviews
Students to brainstorm possible questions to ask
Teacher to go through the suggested questions and help refine them
Students to prepare a form to record the data collected

4. Some suggestions on conducting interviews
Students to rehearse the process of interviewing in class first
- start by introducing themselves and explaining the
purpose of the interview
- inform the interviewee as to how long the
interview will take
- describe briefly what type of information is required
- ask the prepared questions

5. Conducting Interviews
Some rules to remember:
be polite at all times, even when people refuse to be interviewed
be fair, e.g. do not laugh or try to influence the interviewee
thank the interviewee at the end of the interview

6. Brainstorming the Questions
Data is required on the following:
Personal information (e.g. name, age, marital status)
Type of occupation
Reasons for choice of occupation
Ranking of reasons (top 3)
Income per month
What questions can we ask?

7. Let the interviews begin!

8. What did we find out?

9. Can you categorise them?
Look at the reasons.
Can you categorise them?

10. Factors affecting an individual’s choice of occupation
Non-wage factors
Wage factors

11. Who earns the most?

12. How much do they earn? Computer Engineer General Manager
Manufacturing Labourer
Social Worker

17. How much do they earn? General Manager S$11,071
Computer Engineer S$4,165
What do other stats say?
Social Worker S$2,200
Manufacturing Labourer S$1,073

18. Why are there differences in earnings?
Let’s share our ideas!
What do people do with their earnings?

19. Consumer spending, saving and borrowing
Students can carry out interviews to find out more about how people spend/use their earnings
They can also collect data by recording their own and their family members’ spending, saving and borrowing

20. Circle of Knowledge

22. Quiz Time

23. According to the traditional theory of
the firm, the profit maximization point
is where ____________.
A. TR = TC
B. AR > AC
C. MC > MR
D. MR = MC

24. 2. What does the shaded area represent?

25. 3. Which one of the following does not
affect the demand for an input?
A. The price of a substitute
B. The demand for the final product
C. The organisational structure of
the firm
D. The time frame

26. 5. A perfectly-competitive firm is a
price-_____________.
4. True or False?
All inputs are variable in the short-run.

27. Let's Work It Out!

29. Reasons for the different sizes of firms
Get students to research on the history
and growth of these big firms

30. Main reasons for the different sizes of firms
Different business objectives
Size of the market
Capital
External growth
Organisation

31. Horizontal Integration
Primary
Confectionery Manufacturer
Soft Drinks Manufacturer
Secondary
Tertiary

32. Vertical Integration Primary Dairy Farming Co-operative
Secondary
Cheese Processing Plant
Vertical Integration Forward – acquisition takes place towards the market
Tertiary

33. Vertical Integration Primary
Vertical Integration Backwards – acquisition takes place towards the source
Secondary
Manufacturer
Tertiary
Retail Stores

35. Economies of Scale
Diseconomies of Scale
Get It Right!

36. Activities & Strategies
Interviewing
Handling real data
Circle of Knowledge
Quiz
Simple calculation
4 Corners
Rotating roles