Our students are diving into the mechanics of how the economy functions on a larger scale. They have stepped into the shoes of policymakers, learning how governments use tools to expand or cool down the economy, address inflation, and promote growth through fiscal policy, monetary policy, and supply-side strategies. For instance, they’ve explored how cutting taxes can stimulate economic growth, following an expansionary path, but are also aware of the risks—such as inflation eroding purchasing power. These lessons bring the economy to life, enabling students to connect classroom concepts to the world around them.

Grade 11 Economics has moved into the module of government microeconomic intervention, with a core focus on how to reduce market failure. In class, we have centred our attention on four key government intervention tools: taxation adjustment, subsidy policies, price controls, and regulation. We use case studies—such as pollution control, public healthcare resource allocation, and agricultural product price support—to help students understand how these tools address market flaws and optimise resource allocation.

Currently, most students have grasped the basic theoretical framework. However, when it comes to policy effect evaluation, they still need to make judgments based on real-world scenarios. For instance, they need to analyze the potential short-term or long-term negative impacts of policies (e.g., subsidies may increase government fiscal burden). Moving forward, we will organize activities like discussions and essay writing to help students enhance this ability and deepen their understanding.

This week marks the 10th week of the semester, and we have now completed most of the microeconomic content in the CIE A2 Economics syllabus. The focus of our lessons was the core module on "Market Structures." We systematically explored the four main types of market structures: perfect competition, monopoly, monopolistic competition, and oligopoly. To help students grasp the differences, we used a comparison table to highlight key aspects such as the number of firms, product differentiation, and pricing power, providing a clear classification framework.

Real-world examples were incorporated to bring the concepts to life—agricultural markets illustrated the "price taker" nature of perfect competition, while the technology sector highlighted strategic interactions in oligopolies. During group activities, most students accurately identified the market structure of various industries and explained their reasoning, though a few still need to refine their understanding of "product differentiation."

Next week, we will begin the "Labour Market" module, focusing on factors influencing labour demand and supply, as well as wage determination. This will provide a solid foundation for upcoming macroeconomic studies.

Economics unites us by exploring the shared challenges of the human condition—how we strive to improve and make better choices. Understanding these processes helps us connect deeply with the world and each other. And who would have guessed, economics can also be poetic.

Economics Unites Us

In the heart of the human race,

We strive for growth, we seek our place.

With limited means, yet endless dreams,

Economics flows through life’s broad streams.

From scarcity’s call to choices made,

Through markets built and plans displayed,

We learn to balance, to give, to take,

Each decision a future to shape.

Policies crafted, tools refined,

Growth and progress intertwine.

Inflation’s shadow, expansion’s light,

A constant dance of wrong and right.

It binds us all, this common thread,

A world of ideas where minds are fed.

For in this study, we see our aim—

To push life forward, to stake our claim.

Economics, a story we all share,

Of choices, growth, and the dreams we dare.