Economics Forms 1-4

ZIMBABWE
MINISTRY OF PRIMARY AND SECONDARY EDUCATION
ECONOMICS SYLLABUS
FORMS 1 - 4
2015 - 2022
Curriculum Development and Technical Services

P.O. Box MP 133
Mount Pleasant
Harare
©All Rights Reserved

2015
ECONOMICS SYLLABUS FORMS 1 - 4
ACKNOWLEDGEMENTS
The Ministry of Primary and Secondary Education wishes to acknowledge the following for their valued
contribution in the production of this syllabus:
- The National Economics Syllabus Panel

- Government departments
- Representatives from various organisations
- Representatives from Universities and Colleges
- Publishers
- Zimbabwe Secondary Examinations Council (ZIMSEC)
- United Nations International Children’s Fund (UNICEF)
- United Nations Educational, Scientific and Cultural Organization (UNESCO)
i
TABLE OF CONTENTS
ACKNOWLEDGEMENTS........................................................................................i
TABLE OF CONTENTS...........................................................................................ii
1.0 PREAMBLE................................................................................................1
2.0 PRESENTATION OF SYLLABUS..............................................................1
3.0 AIMS...........................................................................................................1
4.0 SYLLABUS OBJECTIVES.........................................................................2
5.0 METHODOLOGY AND TIME ALLOCATION.............................................2
6.0 TOPICS.......................................................................................................2
7.0 SCOPE AND SEQUENCE..........................................................................3
8.0 COMPETENCY MATRIX............................................................................6
8.1 FORM 1......................................................................................................6
8.2 FORM 2......................................................................................................13
8.3 FORM 3......................................................................................................20
8.4 FORM 4......................................................................................................30
9.0 SCHEME OF ASSESSMENT.....................................................................40
ASSESSMENT........................................................................................................41
10.0 GLOSSARY/APPENDICES.......................................................................43
ii
1.0 PREAMBLE 1.6 CROSS - CUTTING THEMES
Economics is a learning area that will encompass and

1.1 INTRODUCTION
address the following cross cutting issues:-
The Economics learning area is a 4 year secondary

1. Gender equality
school course covering from Form 1 – 4 that provides
2. Children’s rights and responsibilities
learners with knowledge, skills and practical experiences
3. Team work
to help learners to understand economic problems and
4. Health issues
issues affecting socio-economic lives. The economics
5. Safety
course should make learners aware of the ever changing
6. Disaster risk management
economic environment and how they can adapt to
7. Food security
changes. The syllabus should develop learners’ initia-
8. Technology
tive, interpretation, analysis and problem solving skills.
9. Sexuality, HIV and AIDS
The teaching approach should be learner-centred in
10. Heritage studies
analysing real life economic problems in Zimbabwe.
11. Environmental issues
12. Enterprise

1.2 RATIONALE
The study of Economics enables learners to acquire 2.0 PRESENTATION OF

an enterprising behaviour through the ability to develop
creative and imaginative solutions to complex issues that
SYLLABUS
affect individuals, society and the nation as a whole. It
helps learners to investigate economic problems in order The Economics syllabus is a four year course covering
to make sound judgement and assessment of economic from Form 1 – 4. It includes the competency matrix and
issues through developing appropriate strategies that highlights a list of resources to be used
protect the economic and natural environment. The
learning area enables learners to acquire consumer 3.0 AIMS
and financial literacy skills with coherent relevance to
Information and Communications Technologies (ICT).
The syllabus aims to enable learners to:
1.3 SUMMARY OF CONTENT 3.1 develop a comprehensive awareness of

economical terminology, principles and basic
The learning area is designed to introduce learners to
economic theories
participate more fully in decision making process at
3.2 comprehend and analyse a spectrum of eco-
local, national and international level through micro and
nomic issues pertinent to Zimbabwe and other
macro-economic concepts. It also provides fundamental,
developing countries and how they relate to
intellectual and enterprising skills.
the developed world.
3.3 acquire entrepreneurial skills in order to exploit
1.4 METHODOLOGY AND TIME the indigenous scarce resources for the dis-
ALLOCATION tinctive benefit of the society.
3.4 acquire skills necessary for understanding how
It is assumed that learners; the economy operates
3.5 develop basic economic numeracy and literacy
• are constantly participating and interacting with and the ability to handle simple data including
variables in the economy. graphs and diagrams
• are aware of prevailing economic environment 3.6 develop tools of analysis to understand and
• have an immense desire to amass wealth contribute to the economic transformation of
• desire to contribute meaningfully to the community Zimbabwe.
and nation at large. 3.7 contribute in decision-making processes, as
consumers and producers in the local, national
1
and international community. • educational tours/use of immediate environ-

3.8 appreciate the values of Unhu/Ubuntu/Vumun- ment
hu in the allocation and use of scarce resourc-
es through transparency and accountability It is advisable that the learner be exposed to more than
one method in a lesson.
4.0 SYLLABUS OBJECTIVES 5.2 Time allocation
Learners should be able to: For the successful implementation of this syllabus, the
following time allocation is recommended:
4.1 identify the link between economic variables Form 1 - 4 should be allocated at least 4 periods of 40
and prevailing economic circumstances minutes each per week.
4.2 distinguish facts from value judgements in eco-
nomic issues.
6.0 TOPICS
4.3 demonstrate knowledge with understanding
in relation to economic phenomena, facts,
6.1 Introduction to Economics
definition, vocabulary, terminology convention,
6.2 Economic systems
concepts, principles and theories.
6.3 Production
4.4 use tools of analysis to understand and
6.4 Labour
contribute to the economic transformation of
6.5 Demand theory
Zimbabwe
6.6 Supply theory
4.5 select, organize, analyse and interpret busi-
6.7 Market equilibrium
ness and financial data with the aid of technol-
6.8 Cost structures and revenue
ogy.
6.9 Market structures
4.6 apply economic knowledge in verbal, diagram-
6.10 Business organisation
matic, pictorial and graphical form to help them
6.11 National income accounting
transfer this knowledge to new situations and
6.12 Money and banking
to achieve critical thought.
6.13 Inflation
4.7 evaluate the social and environmental implica-
6.14 Population
tions of a particular course of economic action
6.15 Unemployment and job creation
4.8 use their basic understanding of economic
6.16 Domestic and Foreign trade
concepts for further study in economics
6.17 Economic growth and development
4.9 recognise that economic theory is subject to
6.18 Market failure and government intervention
various limitations and uncertainties
4.10 exhibit the values of Unhu/Ubuntu/Vumunhu in
the allocation and use of scarce resources
5.0 METHODOLOGY AND TIME

ALLOCATION
5.1 Methodology
For the four year Economics course to be achieved a

learner centred approach is going to be applied using the
following learning and teaching methods:
• class discussions and debates

• field trips
• project work/research
• simulation/role playing
• games
• problem solving
2
7.0 SCOPE AND SEQUENCE
7.0 SCOPE AND SEQUENCE
TOPIC FORM 1 FORM 2 FORM 3 FORM 4
Introduction to Economics  Economics  Basic economic  Production Possibility  Shapes and description of
 Basic economic problem questions Curve (PPC) PPC curve
 Opportunity cost  Shifts of the Production
 Efficient resource Possibility Curve(PPC)
allocation  Efficient resource
 Normative and positive allocation
statements
Economic systems  Types of economic  Economic systems and  Advantages and  Comparisons of economic
systems the three basic economic disadvantages of each systems

questions economic system  Zimbabwe’s current
economic system
Production  Production  Rewards  Stages of production  Productivity
 Factors of production  Stages of production  Value addition  Location of industry
 Rewards  Division of labour and  Direct and indirect
3
specialisation production
 Productivity
Labour  Labour and its reward  Employers and employee  Demand and supply of  Demand and supply of
 Interests of employees associations labour labour
 Types of workers  Role of trade unions and  Wage determination
Government in wage  Wage differentials
determination
Demand theory  Demand  Demand curve  Determinants of  Elasticity of demand

 Law of demand  Effective demand and demand  Application of elasticity to
latent demand  Changes in demand and daily business life.
 Changes in quantity
demanded
Supply theory  Supply  Supply curve  Determinants of supply  Elasticity of supply
 Law of supply  Determinants of supply  Application of elasticity of
supply in real life
10
7.0 SCOPE AND SEQUENCECONTD..
 Changes in supply and

changes in quantity
supplied
 Climate change
Market equilibrium  Interaction of demand  Change in equilibrium  Government intervention
and supply point on prices
Cost structures and  Fixed cost, variable cost,  Semi variables cost.  Relationship between  Marginal cost
revenue total cost and total  Cost curves production and costs  Profit maximisation profit:
revenue - short run - Normal
- long run - Abnormal
 Average cost curves
4
Market structures  Market structures  Short run equilibrium and
 Advantages and Long run equilibrium
disadvantages of market  Price and output
structures determination
 Evaluation of market
structures
Business organization  Sole trader  Cooperatives  Limited companies  Methods of raising capital
 Partnerships  Limited companies  Multi-national  Growth of firms economic
documents used corporation effects of integration
 Economies and
diseconomies of scale
 Small and medium
enterprises
 Business plan
National income  Gross Domestic Product  Measuring national  Components of national  Importance of national
accounting (GDP) income income income statistics
 Gross National Product  Limitation of national
(GNP) income data
11
7.0 SCOPE AND SEQUENCECONTD..

Money and banking  Barter trade  Characteristics of money  Role of financial  Economic instruments
 Types of money  Functions of money institutions -fiscal policy
 Role of the Central -monetary policy
Bank
Inflation  Inflation  Effects of inflation  Measurement of inflation

 Causes/types of inflation  Policies to curb inflation
Population  Population and census  Population distribution  Factors affecting  Sustainable resource
 Population growth population management
 Effects of population size  Effects on economic  Size and composition of
development labour force
 Population and  Dependency ratio
resources
5
Unemployment and job  Unemployment  Types/causes of  Effects of unemployment  Levels of unemployment
creation  Labour force unemployment  Solutions to in Zimbabwe
unemployment  Enterprising and
indigenisation as a
solution
Domestic and Foreign  Domestic trade  Comparison between  Reasons for  Terms of trade
Trade home trade and foreign international trade  Foreign exchange
trade  Balance of trade  Free trade and
 Advantages and  Balance of payments protectionism
disadvantages of  Economic integration
international trade (SADC, COMESA,
African Union).
Economic growth and  Economic growth  Economic development  Causes of economic  Indicators of economic
development in Zimbabwe  Signs of economic growth and development growth and development
development
12
8.0 COMPETENCY MATRIX
8.0 COMPETENCY
8.1 FORM 1 MATRIX
8.1 FORM 1
INTRODUCTION TO ECONOMICS
KEY CONCEPTS OBJECTIVES UNIT CONTENT SUGGESTED LEARNING SUGGESTED RESOURCES

Learners should be able to: (Skills, attitudes and ACTIVITIES AND NOTES
knowledge)
Introduction to economics  explain the following:  Types of needs and  Explaining needs and  Recommended textbooks
- resources wants e.g. (food, shelter, wants  ICT tools
- needs water, clothing)  Identifying needs and  Realia such as food,

- wants  Difference between wants shelter
- scarcity needs and wants  Differentiating needs and
wants
6
Basic economic problem  explain the basic  Basic economic problem  Explaining scarcity
economic problem - scarcity  Stating the basic
- limited resources economic problems
- unlimited wants  Describing the basic
- choice economic problems
 Designing models that
demonstrate scarcity
and choice such as
study timetable and
balancing scale of
resources and needs
14
ECONOMIC SYSTEMS
ECONOMIC SYSTEMS
knowledge)
Market  explain the economic  Types of economic  Describing characteristics  Recommended textbooks
Planned systems systems of each economic system  ICT tools to illustrate
Mixed  state the features of each  Market  Listing features of each economic systems
economic system  Planned economic system
 Mixed
PRODUCTION
PRODUCTION
knowledge)
7
Factors of production  explain production  Production  Explaining production  Recommended textbooks
 list the four factors of  Factors of production :  Outlining the factors of  Multimedia
Rewards to factors of production (land, labour, capital and production  ICT tools
production  explain the four factors of enterprise)  Describing the four factors
production  Rewards: of production
 match each factor of (rent,wages/salaries,  Demonstrating how the
production to its reward interests and profit/ loss) factors and their rewards
match
15
LABOUR
LABOUR

knowledge)
Labour and its rewards  explain the meaning of  Labour  Explaining labour  Recommended
labour  wage  Role playing on rewarding textbooks
 state the reward of labour labour  ICT tools
 Print media
 the community
Interests of employees  list employees’ interests in  Employees’ interests  Researching on
employment - wages employees’ interests in the

- security local community
- health and safety  Listing the interests
- fringe benefits  Reporting on research
8
Types of workers  identify the types of  Unskilled  Researching on types of
workers  Skilled workers in the local
 describe the different  Semi-skilled community
types of workers  Role playing on types of
workers
DEMAND THEORY
DEMAND THEORY
KEY CONCEPTS OBJECTIVES UNIT CONTENT(Skills, SUGGESTED LEARNING SUGGESTED RESOURCES
Learners should be able to: attitudes and knowledge) ACTIVITIES AND NOTES
Demand theory  explain effective demand  Demand  Describing effective  Recommended textbooks
 outline the law of demand  Law of demand demand  Multi-media
 illustrate the relationship  Demand schedule  Depicting the law of  Charts showing demand
between price and demand curve
quantity demanded 17
SUPPLY THEORY
SUPPLY THEORY
knowledge)
Theory of supply  explain supply  Supply  Explaining the meaning of  Recommended texts
 describe the law of supply  Law of supply supply  ICT tools
 illustrate the relationship  Supply schedule  Outlining the law of supply
between price and  Demonstrating the
quantity supplied relationship between price
and quantity supplied.
COST STRUCTURES AND REVENUE

9
knowledge)
Costs  explain the types of costs  Fixed costs  Describing various costs  Recommended textbooks
and revenue  Variable costs and revenue  Charts showing cost
Revenue  calculate costs and  Total costs  Identifying examples of curves
revenue  Total revenue costs  Print media
 Average revenue  Calculating costs
19
BUSINESS ORGANISATION

knowledge)
Sole trader  describe sole trader  Sole trader  Explaining the meaning of  Recommended textbooks
 outline advantages of a - features sole trader and  ICT tools
Partnership sole trader - advantages partnership  Business organisations in
 describe a partnership - disadvantages  Listing the features of a the local community
 state the features of a  Partnerships sole trader and
partnership - features partnership
 outline the advantages and - advantages  Discussing the
disadvantages of a - disadvantages advantages and

partnership disadvantages of a sole
trader and partnership
 Role playing
10
 Researching on business
organisations
NATIONAL INCOME ACCOUNTING

knowledge)
Gross domestic product  explain the meaning of  Gross Domestic  Describing G.D.P.  Recommended textbooks
the term Gross Domestic Product(GDP)  Stating the components of  Video clips
Product (GDP) 21 G.D.P.  ICT tools
Gross national product  explain the meaning of  Gross National Product  Describing GNP
the term Gross National (GNP)  Stating the components of
Product(GNP) GNP
MONEY AND BANKING
MONEY AND BANKING

knowledge)
Barter trade  explain barter trade  Barter trade  Explaining barter trade  Recommended textbooks
 describe advantages and  Types of money  Describing advantages  Multi-media
Money disadvantages of barter M1,M2 and M3 and disadvantages of  Notes and coins
trade barter
 outline the types of money  Describing M1, M2 and
M3
POPULATION
POPULATION
11
knowledge)
Population  explain the meaning of  Importance of conducting  Discussing the importance  Recommended textbooks
the terms: a population census of population census  ZIMSTAT census reports
Population census - population  Population size  Designing census data  ICT tools
- population census collection tools
 discuss on the importance  Conducting a school
of conducting a population census
census
23
UNEMPLOYMENT AND JOB CREATION
KEY CONCEPTS OBJECTIVES UNIT CONTENT SUGGESTED LEARNING SUGGESTED
Learners should be able to: (Skills, attitudes and ACTIVITIES AND NOTES RESOURCES
knowledge)
Unemployment  explain the terms:  Unemployment  Describing unemployment  Recommended
- unemployment  Labour force and labour force textbooks
- labour force  Distinguishing the  Multi-media
 differentiate the employed employed from the  ICT tools
from the unemployed unemployed  Local community
DOMESTIC AND FOREIGN TRADE
12
KEY CONCEPTS OBJECTIVES UNIT CONTENT SUGGESTED LEARNING SUGGESTED
Learners should be able to: (Skills, attitudes and ACTIVITIES AND NOTES RESOURCES
knowledge)
Domestic trade  describe characteristic of  Characteristics of  Listing characteristics of  Recommended
domestic trade domestic trade domestic trade textbooks
 outline characteristics of  Characteristics of retailers  Describing characteristics  ICT tools
retailers and wholesalers and wholesalers of wholesalers and  Print media
 identify retailers and  Formal and informal trade retailers  Local community
wholesalers in the local  Importance of domestic  Surveying on retailers,
community trade wholesalers, informal
 distinguish formal and  The role of informal traders in the local
informal trade traders 25
in the economy community
 explain the importance  Discussing the
of domestic trade importance of domestic
 state the role of informal trade.
traders  Listing the roles of
informal traders
26
ECONOMIC GROWTH AND DEVELOPMENT

Economic growth  explain the meaning of  Economic growth  Touring local firms and  Recommended textbooks
economic growth  Signs of growth farms  ICT tools
 identify signs of economic  Rising output  Researching on signs of  ZIMSTAT national income
growth economic growth statistics
 Comparing national  Graphs
outputs
13
27
8.2 FORM 2
8.2 FORM 2
KEY CONCEPTS OBJECTIVES UNIT CONTENT (Skills, SUGGESTED LEARNING SUGGESTED RESOURCES
Basic economic questions  identify the basic  Economic questions  Listing the basic economic  Recommended textbooks
economic questions -what to produce questions  Multi-media
 explain the basic -how to produce  Discussing the basic  ICT tools
economic questions -for whom to produce economic questions
14
ECONOMIC SYSTEMS
ECONOMIC SYSTEMS
Command economy  identify the three basic  Economic systems and  Outlining the three basic  Recommended textbooks
economic systems the three basic economic economic systems  ICT tools
Market economy  explain the three basic questions  Explaining how the three  Multi-media
economic systems -what to produce basic economic questions
Mixed economy  describe the relationship -how to produce are answered using the
between the economic -for whom to produce economic systems
systems and each basic 28
economic question
29
PRODUCTION
PRODUCTION
Factors of production  explain the rewards to  Rewards to factors of  Describing the rewards to  Recommended textbooks
factors of production production factors of production  Industries
Stages of production  outline the three stages of  Stages of production  Demonstrating the three  ICT tools
production - primary stages of production
 give examples of activities - secondary  Listing examples of
falling in each stage of - tertiary activities in each stage

production  Division of labour and
 state advantages and specialisation  Observing division of
disadvantages of labour at home, school and
specialisation and division industries
of labour  Discussing the
advantages and
15
disadvantages of
specialisation and division
of labour
LABOUR
30
LABOUR
Employers’ associations  identify employers’  Employers’ associations  Researching on  Recommended textbooks
associations  Employees associations associations  ICT tools
Employees associations  identify employees - trade unions  Dramatising roles of the  Resource persons
associations - workers committees parties in employment  Print media
 explain the roles of  Discussing the roles of
employers and employees associations
associations
DEMAND THEORY
DEMAND THEORY
Demand  tabulate a demand  Demand curve  Showing a demand  Recommended textbooks
schedule  Effective demand schedule  Charts on demand curve
 plot a demand curve  Latent demand  Drawing the demand  ICT tools
 distinguish between curve  Local businesses
effective and latent  Contrasting effective and
demand latent demand
 Designing data collection
tools
 Observing and recording

demand patterns of goods
16
SUPPLY THEORY
SUPPLY THEORY
knowledge)
Supply  draw supply curve  Supply curve  Illustrating the supply curve  Recommended textbooks
 describe the relationship  Extension in supply  Discussing how price changes  ICT tools
between price and  Contraction
32in affect supply  Charts illustrating supply
supply using the supply supply  Listing determinants of supply schedule and curves
curve  Determinants of
 outline the determinants supply
of supply
33
MARKET EQUILIBRIUM
MARKET EQUILIBRIUM
Market equilibrium  illustrate the interaction of  Interaction of demand  Illustrating the interaction  Recommended textbooks
demand and supply and supply of the demand and supply  ICT tools
curves  equilibrium  Describing equilibrium  Local community
 explain equilibrium price - point price and quantity
and quantity - price  Researching on market
 identify equilibrium point - quantity pricing

Costs  explain the meaning of  Semi-variable costs  Explaining various types  Recommended Textbooks
17
semi-variable costs  Cost curves of costs.  ICT tools
 illustrate the types of costs - fixed costs  Drawing cost curves  Charts illustrating cost
using diagrams - variable costs structures
- total costs
34
35
BUSINESS ORGANISATIONS
BUSINESS ORGANISATIONS
knowledge)
Cooperatives  describe a cooperative  Cooperatives  Discussing cooperatives  Recommended
 state the features of a - features  Visiting local cooperatives textbooks
cooperative - advantages  Listing features of  ICT tools
 outline advantages and - disadvantages cooperatives  Local cooperatives
disadvantages of  Discussing the  Resource person
cooperatives advantages and  Registrar of companies
Limited companies  explain the meaning of  Documents required for disadvantages of  Print flow
limited companies setting up limited cooperatives

companies
Documents  outline documents used in - memorandum of  Identifying documents
setting up limited association used in establishing
18
companies - articles of association limited companies
 list contents found in these - certificate of  Showing contents of each
documents incorporation document
- trading certificate
KEY CONCEPTS OBJECTIVES UNIT CONTENT (Skills, SUGGESTED LEARNING SUGGESTED

Learners should be able to: attitudes and knowledge) ACTIVITIES AND NOTES RESOURCES
National Income • identify methods of mea- • National income • Listing methods • Recommended text-
suring national income - Income method • Describing methods books
• explain the methods used - Output method • Discussing the methods • ZIMSTAT Publications
in measuring national - Expenditure method • Electronic media
income • ICT tools
36
MONEY AND BANKING
MONEY AND BANKING
Money  outline the characteristics of  Characteristics of money  Describing the  Recommended
money  Functions of money characteristics of money textbooks
 explain the functions of  Listing the functions of  Samples of money
money money  Media
 ICT tools
INFLATION
Inflation • explain the meaning of infla- • Inflation • Listing causes of inflation • Recommended textbooks
tion • Causes/types of inflation • Carrying out a simple • ICT tools
19
Demand pull inflation • describe demand pull-infla- • Demand-pull inflation survey on general level of • Local community
tion • Cost-push infaltion prices in their community
Cost push inflation • describe cost-push inflation • Describing demand-pull and
• distinguish between demand
38 cost-push inflation
pull and cost-push inflation • Showing differences
between demand-pull and
costs-push inflation
POPULATION
POPULATION
Population distribution  describe how population  Geographical  Listing basis of population  Recommended textbooks
is distributed  Occupational distribution  ZIMSTAT reports
 explain the meaning of  Demographic  Explaining population  Electronic media
population distribution distribution  Resource person
 ICT tools
Population growth  explain population  Changes in population  Discussing population
growth size figures
 identify factors affecting  Factors affecting  Identifying factors

population growth population growth affecting population
growth
Effects of population size  identify population size  High population  Recognising the size of
20
 discuss the effects of  Low population the population
population size  Sustainable population  Describing the effects of
 Effects of population size population size

Learners should be able to: attitudes and
40knowledge) ACTIVITIES AND NOTES
Unemployment  identify the types of  Types/causes of  Describing types of  Recommended
unemployment unemployment: unemployment Textbooks
 explain the types of - structural  Surveying on the types of  Local community
unemployment - frictional unemployment in the local  ICT tools
- seasonal community
- regional
- cyclical
Home trade  describe characteristics of  Characteristics  Discussing characteristics  Recommended textbooks
Foreign trade home trade - home trade of home and foreign trade  ICT tools
 describe characteristics of - foreign trade  Comparing home trade and  Video clips
foreign trade  Comparison between foreign trade  Print media
 compare home trade and home and foreign trade  Researching on home and  Local community
foreign trade  Advantages and foreign trade activities  Local Industries
 outline the advantages disadvantages of  Listing advantages and
and disadvantages of international trade disadvantages of
international trade international trade
KEY CONCEPTS OBJECTIVES UNIT CONTENT (Skills, atti- SUGGESTED LEARNING SUGGESTED RESOURCES
21
Learners should be able to: tudes and knowledge) ACTIVITIES AND NOTES
Economic development • explain the meaning of • Economic development • Researching on signs of • Recommended textbooks
economic development 42
• Signs of development: development • Resource persons
• identify signs of economic - rise in literacy • Touring of local areas for • ZIMASSET document
development - low death rate signs of development • Millennium development
- infrastructural develop- • Reporting on researches goals document
ment and tours
• Listing signs of economic
development
8.3 FORM 3
Production possibility curve • explain the meaning of Pro- • The PPC • Drawing and labelling a • Recommended textbooks
(PPC) duction Possibility Curve - points on the PPC PPC diagram • Charts showing PPC
• construct a Production Pos- - points inside the PPC • Identifying points on the • Multi-media
sibility Curve - points outside the PPC PPC diagram
• Explain the concept of - opportunity cost • Explaining points on the
opportunity cost PPC diagram

Efficient resource allocation • explain the concepts of ef- • Efficient points • Demonstrating the op-
ficiency in resource alloca- • Inefficient points portunity cost on the PPC
tion • Desired but unattainable diagram
22
• relate points on the PPC points • Identifying points on the
to the concept of efficient PPC diagram which are
resource allocation efficient and inefficient
• Describing points on the
PPC diagram which are
efficient and inefficient
Normative and positive • distinguish between norma- • Statements of facts and • Identifying statements of • Recommended textbooks
statements tive and positive statements opinions facts and opinions • ICT Tools
ECONOMIC SYSTEMS
ECONOMIC SYSTEMS
Market  state the advantages and  Advantages and  Listing the advantages and  Recommended Textbooks
disadvantages of each disadvantages of: disadvantages of each  Multi-media
Planned economic system - market economy economic system  ICT tools
 explain the advantages - planned economy  Describing the advantages
Mixed and disadvantages of - mixed economy and disadvantages of each
each economic system economic system
PRODUCTION
PRODUCTION
23
Stages of production  describe the inter-  Stages of production  Discussing the inter-  Recommended textbooks
relationship existing - primary relationship amongst  ICT tools
amongst the three stages - secondary primary, secondary and  Resource persons
of production - tertiary tertiary production  Resettlements
Value addition  explain value addition  Value addition  Describing value addition  Processing industries
 relate importance of value  Illustrating importance of  Published researches on
addition to stages of value addition to the three land reform
production stages of production
Direct and indirect  distinguish between direct  Direct production  Touring of processing
production and indirect production  Indirect production industries
 Comparing direct and
Land reform  explain land reform  Aims of land reform indirect production
 identify the aims of  Effects of land reform  Describing land reform
Zimbabwe’s land reform  Evaluating the economic
programme effects of the land reform
 outline the economic  Visiting resettled farmers
effects of Zimbabwe’s land 45
reform programme
LABOUR
Demand and supply of • explain derived demand for • Derived demand for labour • Describing derived demand • Recommended textbooks
labour labour • Demand for labour for labour • ZIMASSET document
• identify factors affecting de- • Supply of labour • Researching on factors af- • ICT tools
mand and supply of labour fecting demand and supply • Industries
• explain the factors affect- of labour
ing demand and supply of • Describing the factors af-
labour fecting demand and supply
of labour
Role of trade unions and • describe the role of trade • Wage determination • Discussing on trade unions • Recommended textbooks
government intervention in unions - Trade unions activities • Print media
24
wage determination • explain government inter- - Government interven- • Touring government depart- • ICT tools
vention in wage determination ments relevant to labour
tion • Reporting findings
DEMAND THEORY
DEMAND THEORY
Determinants of Demand  identify the determinants  Determinants of demand  Explaining the  Recommended textbooks
of demand  Changes in demand determinants that cause  Charts on changes in
 explain the following terms  Changes in quantity an outward or inward shift demand and changes in
- changes in demand demand of the demand curve quantity demanded
- changes in quantity  Showing the relationship  Multi-media
demanded between changes in price  ICT tools
 Illustrate the concepts and quantity demanded
using diagrams  Drawing diagrams
showing changes in
demand and changes in
quantity demanded
SUPPLY THEORY
SUPPLY THEORY
Determinants of supply  explain the determinants of  Determinants of supply  Discussing the determinants  Recommended
supply  Changes in supply and of supply textbooks
 demonstrate how changes in quantity  Listing determinants causing  ICT tools
determinants affect the supplied shifts of supply curve  Video clips
supply curve  Shift of the supply curve  Demonstrating the shifts  Resource persons
 describe increase and  Movement along the (increase and decrease) of  Charts showing
decrease in supply supply curve the supply curve movements and
 illustrate the expansion and  Illustrating the movements shifts
contraction of the supply along the supply curve

curve  Explaining the movement
along the supply curve
Climate change  Explain climate change  Effects of climate change  Exploring the effects of  Recommended
 Outline the effects of on production climate change on production textbooks
climate change on  Solutions to climate  Researching on activities to  ICT tools
25
production change mitigate effects of climate  Local community
 Suggest mitigating change on production.  Multi-media
measures to climate
change
49
MARKET EQUILIBRIUM
MARKET EQUILIBRIUM
Market equilibrium  demonstrate the shift of  Changes in equilibrium  Drawing the demand curve  Recommended textbooks
the demand curve point either outwardly or inwardly  ICT tools
 illustrate the shift of the  Shifts of the demand  Showing by use of graphs  Video clips
supply curve curve i.e. increase in the shift of the supply curve
 show how a new demand/or decrease in  Demonstrating how a new
equilibrium is established demand equilibrium is established
 outline causes of the shift  Shift of the supply curve  Outlining the factors that
of the demand curve i.e. increase in supply and cause a demand curve and
decrease in supply a supply curve to shift
 Movement of the
equilibrium point
26
Costs  distinguish between long  Relationship between  Outlining the differences  Recommended
run and short run short run and long run between short and long run textbooks
 illustrate average cost using costs  Drawing cost curves for  ICT Tools
diagrams  Average cost curves short-run and long-run
50
MARKET STRUCTURES
MARKET STRUCTURES
Types of market structures  describe the features of  Market structures:  Outlining features of each  Recommended textbooks
each type of market - Perfect competition of the market structures  Multi-media
structure - Monopolistic  Explaining market  Resource person
 explain the advantages competition structures
and disadvantages of - Monopoly  Giving examples of
each market structure  Advantages and market structures in the
disadvantages of market economy
structures 
Discussing advantages
and disadvantages of
market structures
27
Limited companies  describe features of  Limited companies  Explaining the features of  Recommended textbooks
private and public limited -private limited limited companies  ICT tools
Public corporation companies -public limited  Listing advantages and  Resource person
 outline advantages and  Multi-national companies disadvantages of limited  Local companies
disadvantages of limited - features companies
companies - benefits to host  Distinguishing features of
 compare and contrast country limited companies
features of limited - problems to host  Identifying features of
companies country MNCs
 describe features of multi-  Public corporations  Discussing the costs and
national companies - features benefits of MNCs in host
52
- advantages
(MNC) countries
 outline the costs and - disadvantages  Visiting local companies
benefits of MNCs to host
countries
 describe a public
corporation
Components of National • identify the components of • National income • Listing the components of • Recommended textbooks
income national income Consumption national income • ZIMSTATS publication
• explain the components of - Government expendi- • Discussing the components
national income ture • Combining the components
- Investments
- Exports
- Imports
MONEY AND BANKING
28
MONEY AND BANKING
Banking  describe the role of  Role of financial  Outlining the role of the  Recommended
financial institutions in an institutions: (commercial financial institutions textbooks
economy banks, merchant banks  Describing the role of the  Resource person
 explain the functions of a and building societies) Reserve bank of Zimbabwe  Local financial institutions
central bank in an  Role of the Central Bank  Visiting local financial
economy institutions
55
INFLATION
INFLATION
Effects of Inflation  explain how consumers  Effects of inflation on  Researching from their  Recommended textbooks
are affected by inflation - consumers communities how  ICT tools
 describe the effects of - producers inflation has affected the  Government reports and
inflation on producers - government society publications
 illustrate how the - the functions of money  Analysing government  Local community
government would be reports and publications
affected by inflation on effects of inflation
 explain the effects of  Discussing how inflation
inflation on the functions has affected the learners

of money themselves as part of
consumers
 Describing the effects of
inflation on the functions
of money
29
56
POPULATION
POPULATION
Factors affecting population  identify factors affecting  Birth rates  Listing factors  Recommended
population  Death rates  Discussing factors textbooks
 explain factors affecting  Migration  Print media
population  Mobility of labour  ICT tools
 Government policy
 HIV and AIDS
Effects of population on  explain the meaning of  Link between population  Discussing the relationship  Print media
economic development economic development and development between population and  Recommended
 discuss how population  Population size and development textbooks
affects economic composition  Explaining the link between
development  Level of literacy population and
30
development
HIV and AIDS  Identify the causes of HIV  Causes of HIV and AIDS  Listing causes of HIV and  Print media
and AIDS  Effects of HIV and AIDS AIDS  Resource person
 Explain the effects of HIV  Solutions to HIV and AIDS  Describing the effects of  Multi-media
and AIDS on population HIV and AIDS
and economic  Suggesting solutions to HIV
development and AIDS
 Suggest solutions to HIV
and AIDS
57
Unemployment  outline the effects of  Effects of unemployment  Describing effects of  Recommended
unemployment  Solutions to unemployment unemployment Textbooks
 propose solutions to  Suggesting solutions to  ICT tools
unemployment unemployment

Foreign trade  distinguish between  exports and imports  Differentiating exports and  Recommended
Exports exports and import  Reasons for international imports textbooks
 describe reasons for trade such as:  Discussing the causes of  ICT tools
Imports engaging in international - comparative international trade  Video clips
trade advantage  Print media
31
 explain comparative and - absolute advantage  Researching and  Resource person
absolute advantage - factor endowment presenting on comparative  ZIMRA
theories  Balance of trade and absolute advantage
 calculate balance of trade - visible exports  Consulting Customs
(BOT) - visible imports officials on data concerning
 calculate balance of  Balance of payment inflows and outflows of
payments (BOP) -current account goods and services
 interpret BOP figures  Calculating BOT and BOP
(deficit/surplus)  Commenting on the results
58
59
Foreign trade  distinguish between  exports and imports  Differentiating exports and  Recommended
Exports exports and import  Reasons for international imports textbooks
 describe reasons for trade such as:  Discussing the causes of  ICT tools
Imports engaging in international - comparative international trade  Video clips
trade advantage  Print media
 explain comparative and - absolute advantage  Researching and  Resource person
absolute advantage - factor endowment presenting on comparative  ZIMRA
theories  Balance of trade and absolute advantage
 calculate balance of trade - visible exports  Consulting Customs

(BOT) - visible imports officials on data concerning
 calculate balance of  Balance of payment inflows and outflows of
payments (BOP) -current account goods and services
32
 interpret BOP figures  Calculating BOT and BOP
(deficit/surplus)  Commenting on the results
ECONOMIC GROWTH AND DEVELOMENT

ECONOMIC GROWTH AND DEVELOMENT
Causes of economic growth  distinguish between  Economic growth  Researching on differences  Recommended
and development economic growth and  Economic development between economic growth textbooks
development  Causes of growth and and development  ICT tools
 identify the causes of development  Case studying in growth and  ZIMSTAT publications
economic growth and development
development
59  Reporting on findings
 explain the causes of  Discussing causes of
economic growth and economic growth and
development development
8.4 FORM 4
8.4 FORM 4
Shape and description of the  describe the shapes PPC  Concave PPC  Identifying the shapes of  Recommended textbooks
Production Possibility Curve can take  Convex PPC the PPC  Multi-media
(PPC)  Constant/straight line  Explaining the meaning of  ICT tools
PPC the PPC shapes
Shifts of the PPC  identify shifts in the PPC  Outward shift  Showing of the shifts on a  Recommended textbooks
 explain the causes of the  Inward shift PPC diagram  Multi-media

shifts  Causes of shifts  Describing factors  ICT tools
causing the shifts
Efficient resource allocation  analyse efficient and  Efficient resource  Explaining efficient  Recommended textbooks
sustainable resource allocation resource allocation  Multi-media
allocation  Sustainable resource  Discussing sustainable  ZIMASSET document
33
allocation resource allocation  ICT tools
62
ECONOMIC SYSTEMS
Economic systems • identify the similarities and • Comparisons of • Explaining similarities and • Recommended textbooks
Market differences among the - market economy differences of the economic • Media
Planned economic systems - planned economy systems • Government publications
Mixed • describe Zimbabwe’s cur- - mixed economy • Analysing Zimbabwe’s • Resource person
rent economic system • Zimbabwe’s current eco- current situation
nomic system
PRODUCTION
PRODUCTION
34
Production  describe productivity  Productivity  Illustrating the relationship  Recommended textbooks
Productivity  calculate productivity - formula between input and output  Resource persons
 describe ways of improving - total product  Discussing the factors  Print media
productivity - marginal product affecting location  Radio
 explain factors affecting - average product  Explaining the methods of  ICT tools
location of industry  Factors affecting government influence on  Video clips
Location of industry  describe methods of location location
government intervention in  Methods of government  Justifying government
influencing location of influence on location of influence on location of
industry an industry industry
 outline reasons for  Reasons for
government influence on government influence
location industry on location of industry
LABOUR
LABOUR
Wage determination  explain how wages are  Wage determinants  Researching on wage  Recommended textbooks
determined - labour markets determinants  ICT tools
demand and  Reporting on research  Local industries
supply findings
- trade union  Discussing the
determinants of wages
Wage differentials  identify basis of wage  Wage differentials basis  Researching on basis for  Recommended textbooks
differentials - training wage differentials  Print media

 explain the basis for wage - risk  Case studying on wage  Government departments
differentials - prestige differentials
- gender  Explaining basis for wage
- government -policies differentials
- culture  Discussing wage
- race differentials
35
65
DEMAND THEORY
DEMAND THEORY
Elasticity of demand  explain the concepts of  Elasticity of demand  Calculating of various  Recommended textbooks
elasticity of demand - price elasticity of elasticities of demand  Media
 explain the importance of demand  Interpreting numerical  Charts illustrating degree of
the above elasticities of - income elasticity of values elasticities
demand to: demand  Illustrating degrees of  ICT tools
- household - cross elasticity of elasticities
- firm demand  Discussing the
- government  Formula importance of elasticities
 Outline determinants of  Degree of elasticity  Listing determinants of

elasticities of demand (elastic and inelastic) elasticities of demand
 Importance of elasticities
of demand
36
 Determinants of
elasticities of demand
SUPPLY THEORY
SUPPLY THEORY
Elasticity of supply  explain elasticity of supply  Elasticity of supply  Calculating elasticity of  Recommended textbooks
 calculate price elasticity of - price elasticity supply  ICT tools
supply  Elasticity degrees  Interpreting the value of  Video clips
 interpret the value of - elastic supply elasticity of supply  Touring local community
elasticity of supply - unitary supply  Describing the
 describe the determinants - inelastic supply determinants of elasticity
of elasticity of supply  Determinants of elasticity of supply.
 demonstrate the of supply66  Discussing the importance
significance of elasticity of  Importance of elasticity of of elasticity of supply to
supply to real life supply real life situations
situations.
MARKET EQUILIBRIUM
MARKET EQUILIBRIUM
Learners should be able attitudes and knowledge) ACTIVITIES AND NOTES
to:
Government intervention  describe how the  Government intervention  Discussing government  Recommended textbooks
government intervene in on the market intervention  ICT tools
the market equilibrium:  Describing price ceiling  Video clips
 explain price ceiling - price ceiling  Describing price floor  Charts showing price
 explain price floor - price floor  Demonstrating the effects floor and ceiling
 illustrate the effects of  Effects of price controls of price controls
price controls on the on the market

market - excess supply
- shortage/excess
demand
37
68
Costs  explain the terms :  Marginal costs  Discussing marginal cost,  Recommended textbooks
marginal costs (MC) ,  marginal revenue marginal revenue and  ICT tools
Revenue marginal revenue (MR)  Average revenue average revenue  Charts showing costs and
and average revenue (AR)  Profit maximisation  Depicting the theoretical revenue curves
 identify the profit  Economic efficiency concept of profit
maximising rule  Profit: maximization
 explain the concept of - normal  Showing the equilibrium
economic efficiency - abnormal and disequilibrium
 describe normal profit and conditions (MR=MC)

abnormal profit Describing the concept of
economic efficiency
(allocative and productive
38
efficiency
 Explaining normal profit
and abnormal profit.
 Illustrating the breakeven
condition (AR=AC)
MARKET STRUCTURES
MARKET STRUCTURES
Short run equilibrium  describe :  Short run equilibrium  Illustrating long run and  Recommended
- short run equilibrium  Long run69equilibrium short run equilibrium textbooks
Long run equilibrium - long run equilibrium  Normal profits  Demonstrating profit  ICT tools
for each market  Abnormal profits maximising output
structure  Losses  Discussing similarities and
 identify the profits  Price and output differences in market
maximising output determination structures
 compare features of  Comparison of market
different market structures structures
Learners should be able attitudes and knowledge) ACTIVITIES AND NOTES
to:
Sources of finance  describe methods of  Methods of raising capital  Discussing methods of  Recommended textbooks
raising finance such as: raising finance  ICT tools
- shares  Video clips
- debentures  Local SMEs
- leasing.
Growth of firms  explain methods of  Growth of firms  Describing methods of
growth of firms - vertical integration growth
- horizontal integration
 describe the effects of  Economies and  Illustrating the effect of
integration on diseconomies
70 of scale integration on
stakeholders stakeholders
 distinguish between  Demonstrating differences
economies and between economies and
Small to medium enterprises diseconomies of scale  Small to Medium diseconomies of scale
39
(SMEs)  outline the features of Enterprises
small to medium  Survival of SMEs  Classifying SMEs
enterprises (SMEs)  Identifying the methods of
 describe the methods of survival for SMEs
survival for SMEs  Visiting local SMEs.
Business plan  to draw a business plan  Cash flow projection  Drawing a business plan  Resource person
 Drafting a cash flow  Multi-media
projection  ICT Tools

Importance of national  discuss uses of national  Level of economic activity  Discussing the uses of  Recommended
income statistics income statistics by and growth national income statistics textbook
different agents  Standards of living  Researching on importance  Print media
 Government intervention of national income statistics  ICT tools
in resources allocation  Informal sector
Limitations of national  identify the limitations of  National income statistics  Listing limitations of
income data national income statistics limitations national income statistics

Importance of national  discuss uses of national  Level of economic activity  Discussing the uses of  Recommended
income statistics income statistics by and growth national income statistics textbook
different agents  Standards of living  Researching on importance  Print media
 Government intervention in of national income statistics  ICT tools
resources allocation  Informal sector
Limitations of national income  identify the limitations of  National income statistics  Listing limitations of national
data national income statistics limitations income statistics
 explain the limitations of - double counting  Describing limitations of

national income data - informal sector national income statistics
- unrecorded activities  Researching on unrecorded
economic activities
40
MONEY AND BANKING
MONEY AND BANKING

Monetary policy  distinguish between  Economic instruments  Explaining how monetary  Recommended textbooks
monetary and fiscal policy - fiscal policy and fiscal policy can be  Monetary and fiscal policy
Fiscal policy  describe how a monetary - monetary policy used to fine tune the documents
and fiscal policy can be economy  Resource persons
used to achieve economic  Discussing the national  Reserve bank publications
objectives budget
72
INFLATION
INFLATION
Measurement of Inflation  calculate rate of inflation  Measurement of inflation  Calculating the rate of  Recommended textbooks
using Consumer Price - Consumer Price Index inflation using CPI and RPI  ICT tools
Monetary policy Index (CPI) and Retail (CPI)  Researching on the past  Video clips
Price Index (RPI) - Retail Price Index and current rates of  Print media. : RBZ
Fiscal policy  identify the current rate of (RPI) inflation. publications
inflation in Zimbabwe.  Current inflation rate in  Establishing trend followed
 compare rates of inflation Zimbabwe by inflation rate in
for different periods in  Comparison of rates of Zimbabwe.

Zimbabwe inflation between different  Discussing fiscal and
 explain the monetary and periods monetary policy tools used
fiscal policy tools used to  Policies to curb inflation to control inflation.
curb inflation - monetary policy
- fiscal policy
41
74
POPULATION
Sustainable resource • explain the concepts of sus- • Resource management • Touring resource manage- • Recommended textbooks
management tainable resource manage- initiatives: ment centres • Resource person
ment - CAMPFIRE • Discussing resource man- • Videos
• explain how economic - EMA agement initiatives • Multi-media
agents should manage their - Community share trusts • Describing ways of sustain- • Print media
resources for sustainability - Recycling able resource management
• Ways of sustainable re-

source management
Size and composition of • relate the composition of • Demographic structure • Examining the demographic • Recommended books
42
labour force population to labour force • Active population composition of population • ICT tools
• explain the factors affecting (16 – 64) • Describing the factors af- • Resource person
composition and size of • Skills and training fecting the size and compo- • Local health centres
labour force • Government policy sition of population • Newstart centres
• describe ways to control • Population control • Outlining various family
population planning methods

Unemployment trends  describe unemployment  Unemployment trends in  Interpreting general  Recommended textbooks
trends in Zimbabwe Zimbabwe employment trends  Capital
Job creation  describe job creation  Job creation  Outlining the importance  Resource person
 explain how enterprising - enterprising of indigenisation and
and indigenisation can - indigenisation enterprising
solve the problem of  Running income
unemployment generating project on a
 initiate a mini project small scale
Terms of trade • describe terms of trade • Terms of trade • Calculating terms of trade • Recommended textbooks
• calculate terms of trade - favourable • Researching how results • ICT tools
• interpret results from terms - unfavourable from terms of trade can be • Video clips
of trade useful. • Print media
Foreign exchange • explain foreign exchange • Foreign exchange • Establishing the relationship • Resource person
• outline problems resulting - exchange rate between Zimbabwean cur-
from foreign exchange - problems of foreign rency and other countries

shortages exchange shortages • Discussing problems arising
• outline reasons and demer- - possible sources of from forex shortages
its of free trade earning foreign curren-
cy
• Free trade
- merits
43
- demerits
Protectionism • describe ways of protection- • Protectionism • Researching on ways of
ism (ways, merits and demerits) protectionism used in Zim-
Economic integration • give reasons for economic • Economic Integration such babwe and their effective-
integration as: SADC, COMESA, AU ness

Indicators of economic  state indicators of  Economic growth and  Researching on indicators  Recommended textbooks
growth and development economic growth and development of:  Print media
development  Indicators - growth  electronic media
 explain the indicators of - development
economic growth and  presenting the findings
development  discussing economic
growth and development
Cost and benefits of  identify costs and benefits  Costs and benefits of  Analysing costs and  Recommended textbooks
economic growth and of economic growth and growth and development benefits  Electronic media
development development  Researching on costs and  Print media
 discuss the costs and benefit
44
benefits  Identifying local areas
where growth and
development has taken
place
Sustainable development  explain meanings of  Sustainable development  Designing a sustainable  Recommended textbooks
sustainable development  Sustainable development development project  ZIMASSET document
 initiate a sustainable initiatives  Touring areas where  Print media
development project  Costs and benefits of sustainable development  Areas sustainably
 discuss ways of achieving sustainable development has occurred developed
sustainable development initiatives  Studying at least one
Newly Industrialised
Country (NIC)
 Researching on
sustainable development
initiatives
78
9.0 SCHEME OF ASSESSMENT
The syllabus scheme of assessment is grounded on the principle of inclusivity. Arrangements, accommodation and
modifications must be visible in both continuous and summative assessments to enable candidates with special needs
to access assessments and receive accurate performance measurement of their ability.
9.1 Assessment objectives

By the end of the course learners should be able to:
9.1.1 outline the link between economic variables and prevailing economic circumstances
9.1.2 criticise any economic issue using facts and value judgement.
9.1.3 describe economic phenomena, facts, convention, concepts, principles and theories, using economics
terminology.
9.1.4 apply economic tools tools of analysis to contribute to the economic transformation of Zimbabwe.
9.1.5 select, organize, analyse and interpret business and financial data with the aid of technology.
9.1.6 demonstrate economic knowledge in verbal, diagrammatic, pictorial and graphical form.
9.1.7 evaluate the social and environment implications of a particular course of economic action.
9.1.8 show that economic theory is subject to various limitations and uncertainties.
9.1.9 plan and organize an area of study for course work.
9.1.10 exhibit respect, honesty and integrity (Unhu/Ubuntu).
9.1.11 work independently and in groups to achieve appropriate goals in set time lines.
9.2 FORMS OF ASSESSMENT
ASSESSMENT WEIGHING
CONTINUOUS 30%
SUMMATIVE 70%
TOTAL 100%
9.2 1 CONTINUOUS ASSESSMENT
Level Assessment task Frequency Weighting

Form 1 Practical Assignment 1 per term 5
Theory Test 1 per term
Written Research Project 1 per year


Form 4 2 Theory Tests 10

Written Research Project
(continued from form 3)
Total 30
N.B. All assignments, tests and projects should be marked out of 100
Soft skills should be assessed as learners do the continuous assessment tasks
45
ASSESSMENT
CONTINUOUS ASSESSMENT 30% SUMMATIVEASSESSMENT 70%
FORM 1 FORM 2 FORM 3 FORM 4 Multiple DataResponse Essays

Response
30% 70%
100 %
46
9.2.2 SUMMATIVE ASSESSMENT
PAPER TYPE OF PAPER DURATION MARKS WEIGHTING

1 Multiple choice 1hr 15 40 20%
2 Data response 1hr 15 40 20%
3 Essays 1hr 15 40 30%
TOTAL 70%
9.2.3 SPECIFICATION GRID
Content Distribution
Paper 1 Paper 2 Paper 3

1. Introduction to Economics 1. Production 1.Introduction to Economics
2. Economic systems 2. Labour 2.Economic systems
3. Production 3. Demand theory 3.Production
4. Labour 4. Supply theory 4.Labour
5. Demand theory 5. Market equilibrium 5.Demand theory
6. Supply theory 6. Cost structures and revenue 6.Supply theory
7. Market equilibrium 7. Market structures 7.Market equilibrium
8. Cost structures and revenue 8. National income accounting 8.Cost structures and revenue
9. Market structures 9. Inflation 9.Market structures
10. Business organisation 10. Population 10.Business organisation
11. National income accounting 11. Unemployment and job creation 11.National income accounting
12. Money and banking 12. Domestic and Foreign trade 12.Money and banking
13. Inflation 13. Economic growth and develop- 13.Inflation
14. Population ment 14.Population
15. Unemployment and job creation 15.Unemployment and job creation
16. Domestic and Foreign trade 16.Domestic and Foreign trade
17. Economic growth and develop- 17.6Economic growth and
ment development
18. Market failure and government 18.Market failure and government
intervention intervention
9.2.4 SKILL DISTRIBUTION
Skill Paper 1 Paper 2

Knowledge and under- 30 20
standing
Interpretation and applica- 40 40
tion
Problem solving 30 40
Total 100 100
47
9.2.5 DESCRIPTION OF PAPERS

Paper 1 Multiple choice
The paper consist of 40 items with 4 options per question A,B.C or .D. Candidates are required to select the most
appropriate option in a duration of 1 hr. 15 minutes. The paper will carry 20% of the marks for the learning area.
Paper 2 Data response

The paper will consist of two compulsory questions each carrying 20 marks testing particular knowledge and under-
standing and problem solving skills. The paper will carry 20% of the marks for the learning area and the time duration
of the paper is 1hr 15 minutes.
Paper 3 Theory Essays

This paper will consist of 10 questions and candidates will be required to attempt 4 questions. The paper will carry
30% of the marks and will be of 2hrs duration.
Paper 4 Continuous assessment

The continuous assessment will carry 30% of the marks. It will be based on assignments, tests and projects.
10.0 GLOSSARY/APPENDICES
NB A checklist such as this is neither exhaustive nor prescriptive: unless it is indicated as `not required’, the omission
of an item from this list does not mean that examiners will not refer to it, while teachers may find it helpful or desirable
in their courses to introduce terms and concepts even if they lie outside the scope of the examined syllabus.
abnormal profit average propensity

absolute advantage average revenue
accelerator average variable cost
active balances balance for official financing
ad valorem tax balance of payments
aggregate demand balance of trade
aggregate expenditure balanced Budget
aggregate supply balancing item
allocative efficiency Bank Rate
appreciation (exchange rate) barriers to entry
at constant prices barriers to exit
at current prices barter
at factor cost base date
at market prices bilateral trade
automatic stabilisers birth rate
autonomous broad money supply
average cost budget line
capital: output ratio death rate deficit
cash ratio deposits deflation
change in demand demand conditions
change in quantity demanded demand cuve
cheques demand-deficiency unemployment
infrastructure market
injections market economy
integration market failure
interest market system
interest rate marketing economies
internal economies of scale maximization
occupational mobility private benefits
official financing private costs
48
oligopoly private goods

open economy private sector liquidity
open market operations privatisation
opportunity cost production possibility curve
optimum population productive efficiency
optimum resource allocation productivity
other things being equal profit maximization
Pareto optimality proportional taxation
Patents protectionism
pensions public goods
perfect competition progressive taxation
perfectly elastic quality of life
quotas standard of deferred payments
rate of interest standard of living
rationing store of value
resources supply curve
Retail Prices Index tariffs
risk-bearing economies of scale taxation
technical economies technical unemployment
terms of trade total revenue
saving tertiary sector
scarcity trade cycle
seasonal unemployment services
secondary sector shares
shoe leather cost of inflation trade unions
short run transactions demand for money
Smith, Adam transfer earnings
social costs special deposits
unemployment transfer payments
unstable equilibrium urbanization
variable costs vertical integration
visible balance voluntary unemployment
wage differentials wages
withdrawals working capital
49

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ZIMBABWE

MINISTRY OF PRIMARY AND SECONDARY EDUCATION

Curriculum Development and Technical Services

©All Rights Reserved

- The National Economics Syllabus Panel

2.0 PRESENTATION OF SYLLABUS..............................................................1

4.0 SYLLABUS OBJECTIVES.........................................................................2

5.0 METHODOLOGY AND TIME ALLOCATION.............................................2

7.0 SCOPE AND SEQUENCE..........................................................................3

8.0 COMPETENCY MATRIX............................................................................6

8.1 FORM 1......................................................................................................6

8.2 FORM 2......................................................................................................13

8.3 FORM 3......................................................................................................20

8.4 FORM 4......................................................................................................30

9.0 SCHEME OF ASSESSMENT.....................................................................40

1.0 PREAMBLE 1.6 CROSS - CUTTING THEMES

Economics is a learning area that will encompass and

The Economics learning area is a 4 year secondary

The study of Economics enables learners to acquire 2.0 PRESENTATION OF

1.3 SUMMARY OF CONTENT 3.1 develop a comprehensive awareness of

and international community. • educational tours/use of immediate environ-

4.0 SYLLABUS OBJECTIVES 5.2 Time allocation

5.0 METHODOLOGY AND TIME

For the four year Economics course to be achieved a

• class discussions and debates

systems the three basic economic disadvantages of each systems

Demand theory  Demand  Demand curve  Determinants of  Elasticity of demand

TOPIC FORM 1 FORM 2 FORM 3 FORM 4

 Changes in supply and

TOPIC FORM 1 FORM 2 FORM 3 FORM 4

Inflation  Inflation  Effects of inflation  Measurement of inflation

KEY CONCEPTS OBJECTIVES UNIT CONTENT SUGGESTED LEARNING SUGGESTED RESOURCES

- needs water, clothing)  Identifying needs and  Realia such as food,

KEY CONCEPTS OBJECTIVES UNIT CONTENT SUGGESTED LEARNING SUGGESTED RESOURCES

employment - wages employees’ interests in the

COST STRUCTURES AND REVENUE

KEY CONCEPTS OBJECTIVES UNIT CONTENT SUGGESTED LEARNING SUGGESTED RESOURCES

disadvantages of a - disadvantages advantages and

NATIONAL INCOME ACCOUNTING

MONEY AND BANKING

DOMESTIC AND FOREIGN TRADE

ECONOMIC GROWTH AND DEVELOPMENT

economic questions -for whom to produce economic questions

falling in each stage of - tertiary activities in each stage

 Observing and recording

COST STRUCTURES AND REVENUE

limited companies setting up limited cooperatives

NATIONAL INCOME ACCOUNTING

KEY CONCEPTS OBJECTIVES UNIT CONTENT (Skills, SUGGESTED LEARNING SUGGESTED

 identify factors affecting  Factors affecting  Identifying factors

UNEMPLOYMENT AND JOB CREATION

international trade international trade

ECONOMIC GROWTH AND DEVELOPMENT

opportunity cost PPC diagram

contraction of the supply along the supply curve

MONEY AND BANKING

inflation on the functions has affected the learners

DOMESTIC AND FOREIGN TRADE

 calculate balance of trade - visible exports  Consulting Customs

ECONOMIC GROWTH AND DEVELOMENT