Economics
Explore the H1, H2, and H3 Economics syllabuses offered at ACJC, and find out how each builds critical thinking and real-world problem-solving skills.
ECONOMICS H1 (Syllabus 8843)
Aims
Economics is an engaging discipline that affords students the opportunity to gain essential and useful skills for life. They will learn to weigh perspectives of different economic agents, and craft possible solutions to economic problems faced by markets and countries. They will also learn to understand and interpret economic problems through critical analyses of texts and data. These skills are important in the 21st Century's volatile, uncertain, complex and ambiguous world that is constantly being bombarded with information. In addition, the discipline helps students in exploring human and firms’ behaviours and interactions in market settings, as well as government decisions in management of the economy
Approach
H1 Economics at ACJC envisions imparting a love for current affairs and the ability to evaluate ideas critically from different perspectives in students. They will gain the skills of analysing and resolving Economic issues, as well as evaluate policy decisions. The instructional programme is designed to develop passionate, independent learners who are able to think rationally.
The curriculum involves lectures and tutorials as a holistic approach to nurture each student’s academic capabilities. Tutorials in particular are student-centred: being interactive and collaborative; with teachers acting as facilitators as students explore and engage economic concepts and ideas with one another. Classroom teaching is supplemented with online materials and the use of social media to stimulate students’ awareness of the operation of economic principles in real-world contexts.
Programme
The H1 Economics syllabus is organized around three major themes which structures students’ learning of economics in a progressive manner. These three themes comprise fundamental economic concepts which allow students to have a deeper appreciation of economics. Students will examine economic phenomena, beginning with the individual and societal levels (microeconomic analysis), followed by the national level (macroeconomic analysis).
H1 Economics is assessed through 1 compulsory paper, consisting of 2 case study questions over 3 hours. The questions are based on 2 to 3 pages of extracts and quantitative data. Each case question will revolve around a multi-faceted economic issue or policy decision, and will involve a mix of data response questions and higher-order type questions, which involve application of theory to the scenario presented, and evaluation of policy decisions made by economic agents.
Themes
• The Central Economic Problem involving scarcity, resource allocation and rational decision-making by economic agents
• Markets, covering how firms and markets function via the price mechanism and how markets may fail in achieving efficient and equitable allocation of resources, and the role of the government in addressing these market issues.
• The National Economy, which includes analyses of macroeconomic problems and policies.
The syllabus document may be accessed here (opens in new tab).
ECONOMICS H2 (Syllabus 9570)
Aims
Economics is an engaging discipline that affords students the opportunity to gain essential and useful skills for life. They will learn to weigh different perspectives and possible solutions to come to a reasoned conclusions and the art of communicating this effectively. They will also learn critical analysis of texts and data given. These skills are important in the 21st Century's volatile, uncertain, complex and ambiguous world with constant bombardment of information. In addition, the discipline is helpful in exploring human behaviour and interaction.
Approach
H2 Economics at ACJC envisions imparting a love for current affairs and the ability to critically evaluate ideas from different perspectives.
Through the inquiry of different economic issues and application of concepts, theories, and principles, students develop the capacity to analyse and evaluate the behaviour of economic agents in the allocation of scarce resources. In understanding domestic, regional, and global economic issues, students adopt multiple perspectives, recognise trade-offs and consequences arising from decision-making, and arrive at well-reasoned conclusions. Students will thus acquire knowledge and develop skills and values that will enable them to be active and eng
The curriculum involves lectures, tutorials and projects in a progressive but holistic approach to nurture each student’s academic capabilities. These may take place in a blended learning environment, where students are encouraged to interact and collaborate virtually or face-to-face, with teachers acting as facilitators of learning. Students explore and engage with economic concepts and ideas through exposure or inquiry into major economic events and decisions taken or faced by countries currently around the world. Formal notes and tutorial exercises are supplemented by authentic real-world economic reports and the use of social media to stimulate students’ awareness of the operation of economic principles in and around their world.
Programme
H2 Economics is organised around three major themes which have been selected to structure the learning of students in a progressive manner. The selection of the themes emphasises the disciplinarity of economics. In addition, the three themes comprise fundamental economic concepts which allow students to have a deeper appreciation of economics. Students will examine economic phenomena, beginning with the individual and societal levels (microeconomic analysis), followed by the national level (macroeconomic analysis).
Theme 1 (The Central Economic Problem) highlights the Central Economic Problem of unlimited wants and limited resources as fundamental to the discipline. An overall framework for rational decision-making by consumers, producers and governments is also presented in Theme 1, linking the three themes across the syllabus.
Theme 2 (Markets) focusses on how firms and markets function. It allows students to examine how markets may fail in achieving efficient and equitable allocation of resources, and the role of the government in addressing these market issues.
Theme 3 (The National and International Economy) focusses on governments as economic agents. It provides an overview of the workings and linkages of the national and international economy. In addition, the impact of external trends and developments on the domestic economy.
H2 Economics is assessed through 2 papers.
Paper 1 consists of 2 case studies over 2 hours 30 minutes and Paper 2 consists of 3 essays over 2 hours 30 minutes. Every H2 student is required to sit for both papers.
Paper 1 (Case study)
Candidates will attempt 2 questions, each question will have 2-3 pages of extracts and quantitative data. The case will revolve around a multi-faceted economic issue or policy decision, and will involve a mix of data response questions and higher-order type questions, which involve application of theory to the scenario presented.
Paper 2 (Essay)
Candidates will attempt 3 essay questions, chosen from 6 options. The essay question will allow students to express their opinions, based on economic theory, and demonstrate their individual wealth of knowledge.
The syllabus document may be accessed at this link (opens in new tab).
ECONOMICS H3 (Syllabus 9809)
Aims
The MOE H3 Economics syllabus aims to develop in students the ability to:·
Critically evaluate economic concepts and theories
Apply appropriate tools of economic reasoning to analyse the underlying nature of real-world economic issues, and propose hypotheses
3) Critically and independently evaluate perspectives and decisions of economic agents
Formulate and present well-reasoned arguments and strategies to address economic issues
Approach
The H3 Economics syllabus content is built on the content of the H2 Economics syllabus. Students are expected to be familiar with the H2 Economics content.
Thus, it is expected that only students who possess the necessary deeper understanding of economics at H2 level will be invited to apply to do H3 Economics.We apply the same the disciplinary thinking framework in A-Level Economics, which focuses on decision-making. Students will have the opportunity to explain, analyse and apply economic concepts and theories through the core themes. Students will also evaluate economic issues and policy choices in a real-world context. Students are expected to demonstrate a broad conceptual overview and deep understanding of Economics as a discipline, and should also have a good knowledge of recent economic trends and development.
Programme
The programme will cover three core themes in the syllabus. The concepts and issues specified in the syllabus should be taught in the context of Singapore and the global economy, where appropriate. The three core themes are:
Theme 1: Rationality in Decision-Making
This theme encourages a more thorough study of decision-making by economic agents, through examining in greater depth the idea of rationality and how behavioural economics affects decision-making.
Theme 2: Firms, Strategies and Market Failure
Theme 2 looks at firms’ strategies and market failure with a microeconomic focus.
Theme 3: Issues and strategies for sustainable development
This theme examines economic development and its issues with a macroeconomic emphasis.
The assessment comprises one compulsory 3 hour written examination paper with two sections: Section A, Case Study, and Section B, Essays
The syllabus document may be accessed at this link (opens in new tab).