Circular flow
Open and closed economies; role players; injections and leakages; equilibrium; autonomous consumption; MOC/MPS; four-sector model; national accounts aggregates and conversions; multiplier.
Grade 12 Economics
Annual Teaching Plan (Terms 1-4)
The Grade 12 Economics CAPS syllabus for South Africa follows the annual teaching plan with macroeconomics, microeconomics, economic pursuits and contemporary issues across Terms 1-4. Use the term topics below with Grade 12 Economics past papers to prepare for the NSC exam.
How to study using this page: Revise term topics attempt past papers mark with memos.
Term 1 topics
Weeks 1-11
Assessment: Task 1: Assignment (50 marks). Task 2: Controlled test (100 marks, 1.5 hours) on Term 1 content.
Business cycles
Composition and features, causes, types of cycles, government policy, monetary and fiscal policy, new economic paradigm (smoothing of cycles), and forecasting features.
Public sector
Composition and necessity of the public sector, problems of provisioning, objectives, budgets, fiscal policy (including Laffer curve), and public sector failure.
International trade (foreign exchange markets)
Reasons for international trade, absolute and comparative advantages and disadvantages, balance of payments, IMF, correcting surpluses/deficits, foreign exchange markets and exchange rate determination.
Revision
Revision of Term 1 content.
Circular flow
Open and closed economies; role players; injections and leakages; equilibrium; autonomous consumption; MOC/MPS; four-sector model; national accounts aggregates and conversions; multiplier.
Business cycles
Composition and features, causes, types of cycles, government policy, monetary and fiscal policy, new economic paradigm (smoothing of cycles), and forecasting features.
Public sector
Composition and necessity of the public sector, problems of provisioning, objectives, budgets, fiscal policy (including Laffer curve), and public sector failure.
International trade (foreign exchange markets)
Reasons for international trade, absolute and comparative advantages and disadvantages, balance of payments, IMF, correcting surpluses/deficits, foreign exchange markets and exchange rate determination.
Revision
Revision of Term 1 content.
Term 2 topics
Weeks 1-11
Assessment: Task 3: Research project. Task 4: Controlled test (150 marks, 2 hours) on Term 1 and 2 work OR June exam (two papers, 150 marks each, 2 hours each).
Dynamics of markets: Perfect markets
Perfect competition, industry and individual business, market structure, output (profits and losses), competition policies.
Dynamics of markets: Imperfect markets
Monopolies, duopolies, oligopolies, monopolistic competition, and market structures.
Dynamics of markets: Market failures
Market failures, causes, misallocation of resources, consequences, and cost-benefit analysis.
International trade policies (protectionism and free trade)
Protection and free trade, globalisation, major protocols, export promotion, import substitution, arguments for and against free trade, desirable mix and evaluation of policies, trade liberalisation and WTO, and forms of economic integration.
Economic growth and development
Economic growth vs development, demand-side and supply-side approaches, evaluation of approaches, South African endeavours, and north/south divide.
Dynamics of markets: Perfect markets
Perfect competition, industry and individual business, market structure, output (profits and losses), competition policies.
Dynamics of markets: Imperfect markets
Monopolies, duopolies, oligopolies, monopolistic competition, and market structures.
Dynamics of markets: Market failures
Market failures, causes, misallocation of resources, consequences, and cost-benefit analysis.
International trade policies (protectionism and free trade)
Protection and free trade, globalisation, major protocols, export promotion, import substitution, arguments for and against free trade, desirable mix and evaluation of policies, trade liberalisation and WTO, and forms of economic integration.
Economic growth and development
Economic growth vs development, demand-side and supply-side approaches, evaluation of approaches, South African endeavours, and north/south divide.
Term 3 topics
Weeks 1-10
Assessment: Task 5: Case study (50 marks). Task 6: Trial examination (Paper 1 and Paper 2, 150 marks each, 2 hours).
Economic growth and development
Economic growth vs development; demand- and supply-side approaches; evaluation; South African endeavours; north/south divide.
Growth and development: Industrial development
Industrial development, regional development, South African endeavours and the appropriateness of strategies.
Economic and social indicators
Performance of the economy, economic indicators, money supply and interest rates, social indicators and international comparisons, globalisation (IMF and World Bank).
Economic issues of the day: Inflation
Concept, types, causes and consequences of inflation; inflation problem in South Africa; measures to combat inflation.
Economic issues of the day: Tourism
Tourism concept, reasons for growth, effects and benefits, South Africa profile (IKS), and policy suggestions.
Economic issues of the day: Environmental sustainability
Environmental sustainability, state of the environment, measures to ensure sustainability, and international agreements.
Trial examination structure
Paper 1 (Macro/Economic Pursuits) and Paper 2 (Micro/Contemporary Issues), each 150 marks and 2 hours. Sections A-C, with compulsory and choice questions. Cognitive levels: 30% lower, 40% middle, 30% higher.
Economic growth and development
Economic growth vs development; demand- and supply-side approaches; evaluation; South African endeavours; north/south divide.
Growth and development: Industrial development
Industrial development, regional development, South African endeavours and the appropriateness of strategies.
Economic and social indicators
Performance of the economy, economic indicators, money supply and interest rates, social indicators and international comparisons, globalisation (IMF and World Bank).
Economic issues of the day: Inflation
Concept, types, causes and consequences of inflation; inflation problem in South Africa; measures to combat inflation.
Economic issues of the day: Tourism
Tourism concept, reasons for growth, effects and benefits, South Africa profile (IKS), and policy suggestions.
Economic issues of the day: Environmental sustainability
Environmental sustainability, state of the environment, measures to ensure sustainability, and international agreements.
Trial examination structure
Paper 1 (Macro/Economic Pursuits) and Paper 2 (Micro/Contemporary Issues), each 150 marks and 2 hours. Sections A-C, with compulsory and choice questions. Cognitive levels: 30% lower, 40% middle, 30% higher.
Term 4 revision focus
Weeks 1-10
Assessment: Final examination (Paper 1 and Paper 2, 150 marks each, 2 hours).
Paper 1: Macroeconomics and economic pursuits
Circular flow, business cycles, public sector, foreign exchange markets, protectionism and free trade, economic growth and development, industrial development, and economic/social performance indicators.
Paper 2: Microeconomics and contemporary economic issues
Perfect markets, imperfect markets, market failure, inflation, tourism and environmental sustainability.
Final examination structure
Paper 1 and Paper 2, each 150 marks and 2 hours, with Sections A-C and the same cognitive level distribution as the trial exam.
Paper 1: Macroeconomics and economic pursuits
Circular flow, business cycles, public sector, foreign exchange markets, protectionism and free trade, economic growth and development, industrial development, and economic/social performance indicators.
Paper 2: Microeconomics and contemporary economic issues
Perfect markets, imperfect markets, market failure, inflation, tourism and environmental sustainability.
Final examination structure
Paper 1 and Paper 2, each 150 marks and 2 hours, with Sections A-C and the same cognitive level distribution as the trial exam.