Zimbabwe Form 4 Curriculum - Economics

This curriculum covers the Ordinary Level Economics syllabus for Forms 1-4, as provided by the Zimbabwe Ministry of Primary and Secondary Education (2015-2022). It aims to equip learners with a comprehensive understanding of economic principles, terminology, and theories relevant to Zimbabwe and other developing nations. The curriculum emphasizes learner-centered approaches, encouraging critical thinking and problem-solving skills. It also integrates cross-cutting themes such as gender equality, children's rights, environmental issues, and enterprise.

Curriculum Structure

The curriculum is structured around key topics, incorporating a competency matrix that outlines learning objectives, unit content, suggested learning activities, and resources for each Form. The topics covered across the four Forms include:

• Introduction to Economics: Covers basic economic problems, needs, wants, scarcity, and choice. It introduces different economic systems (market, planned, mixed) and their characteristics.
• Production: Explores factors of production (land, labor, capital, enterprise), their rewards, stages of production (primary, secondary, tertiary), value addition, and productivity. It also addresses issues like land reform and its economic effects.
• Labor: Examines labor, wages, interests of employees, types of workers, demand and supply of labor, trade unions, and government intervention in wage determination.
• Demand Theory: Covers the law of demand, demand curves, effective and latent demand, and determinants of demand. It introduces the concept of elasticity of demand and its applications.
• Supply Theory: Explores the law of supply, supply curves, determinants of supply, and elasticity of supply. It also considers the impact of climate change on production.
• Market Equilibrium: Illustrates the interaction of demand and supply, equilibrium price and quantity, and the effects of government intervention (price ceilings and floors).
• Cost Structures and Revenue: Examines different types of costs (fixed, variable, total, average, marginal), revenue, profit maximization, and economic efficiency.
• Market Structures: Describes different market structures (perfect competition, monopolistic competition, monopoly), their features, advantages, and disadvantages. It also analyzes short-run and long-run equilibrium in different market structures.
• Business Organization: Covers various business organizations, including sole traders, partnerships, cooperatives, private and public limited companies, and multinational corporations. It also addresses methods of raising capital, growth of firms, and the development of business plans.
• National Income Accounting: Explores concepts like Gross Domestic Product (GDP) and Gross National Product (GNP), methods of measuring national income, and the limitations of national income data.
• Money and Banking: Covers barter trade, types and functions of money, the role of financial institutions and the central bank, and monetary policy tools.
• Inflation: Examines the causes and types of inflation, its effects on consumers, producers, and the government, and policies to curb inflation (monetary and fiscal policies).
• Population: Addresses population size, distribution, growth, factors affecting population, and the link between population and economic development. It also considers the impact of HIV/AIDS on population and the economy.
• Unemployment and Job Creation: Explores types and causes of unemployment, its effects, solutions to unemployment, and the role of enterprising and indigenisation in job creation.
• Domestic and Foreign Trade: Covers characteristics of domestic and foreign trade, reasons for international trade (comparative and absolute advantage, factor endowment), balance of trade and payments, terms of trade, foreign exchange issues, free trade, protectionism, and economic integration (SADC, COMESA, AU).
• Economic Growth and Development: Examines the distinction between economic growth and development, their causes, indicators, costs and benefits, and the concept of sustainable development.

Assessment

The assessment scheme comprises continuous assessment (30%) and summative assessment (70%). Continuous assessment includes practical assignments, theory tests, and research projects. Summative assessment consists of three written papers: multiple choice, data response, and essays. The assessment framework emphasizes inclusivity and accommodates learners with special needs.