Module Description

Dear Learners,

The module of Economics Summary Note with Model Exam is designed to provide a comprehensive overview of fundamental economic concepts crucial for students preparing for the Grade 12 National Ethiopian General School Leaving Exam. This module synthesizes key topics from the Grade 9, Grade 10, Grade 11, and Grade 12 Economics curricula, ensuring that students have a solid understanding of both microeconomic and macroeconomic principles.

The module is structured into nine distinct chapters:

1. Section 1: Introduction to Economics: This section covers the fundamental aspects of economics, including the meaning of economics, basic economic problems, and the different economic systems. It draws from Grade 9, specifically Unit 1: Introducing Economics, ensuring students grasp the foundational concepts before delving deeper.
2. Section 2: Consumer Behavior, Demand, and Supply: Here, students explore the theory of consumer behavior, demand and supply, and their interrelationships. This content combines insights from Grade 10: Theory of Consumer Behavior and Grade 11: Theory of Consumer Behavior and Demand, enabling learners to understand how consumer choices affect market dynamics.
3. Section 3 Theories of Production, Cost, and Market Structure: This section introduces production concepts, cost theories, and market structure, linking back to Grade 10: Theories of Production and Cost and Grade 11: Market Structure and Decision of Firms. It emphasizes how firms make decisions based on production costs and market conditions.
4. Section 4: Macroeconomics: Covering key macroeconomic variables, national income accounting, and aggregate demand and supply, this segment incorporates material from Grade 11: Fundamental Concepts of Macroeconomics and Grade 12: Aggregate Demand and Supply Analysis. Understanding these topics is essential for analyzing the broader economy.
5. Section 5: Trade, Finance, and Economic Policies: This comprehensive segment addresses domestic and international trade, macroeconomic policy instruments, and economic reforms in Ethiopia. It merges insights from Grade 11: Trade and Finance and Grade 12: Macroeconomic Reforms in Ethiopia.
6. Section 6 Economic Growth and Development: This part examines the distinctions between economic growth and development, along with sectoral policies in Ethiopia. It is informed by Grade 11: Economic Development and Grade 12: Main Sectors, Sectoral Policies and Strategies of Ethiopia.
7. Section 7: Banking and Finance: This section introduces the concepts of money, banking systems, and tax theory, drawing from Grade 10: Banking and Finance and Grade 12: Tax Theory and Practice. It prepares students to understand the financial environment within which economic activities occur.
8. Section 8 Entrepreneurship and Innovation: Focusing on the principles of entrepreneurship, this section highlights the importance of innovation and business startups. It stems from Grade 11: Basic Entrepreneurship and Grade 12: Business Startups and Innovation.
9. Section 9: Poverty, Inequality, and Environmental Issues Finally, this section tackles critical social issues such as poverty, inequality, environmental challenges, and market failures. This content is rooted in Grade 11: Poverty and Inequality and Grade 12: Economy, Environment, and Climate Change.

Objectives of the Module

The primary objectives of the Economics Summary Note with Model Exam are as follows:

1. Comprehensive Understanding: To equip students with a thorough understanding of core economic principles that underpin both microeconomic and macroeconomic theories.
2. Exam preparation: To prepare students for the Grade 12 National Ethiopian General School Leaving Exam by providing a structured review of essential topics and model exam questions.
3. Application of Knowledge: To enable students to apply economic theories and concepts to real-world scenarios, fostering critical thinking and analytical skills.
4. Contextual Relevance: To relate economic concepts to the Ethiopian context, ensuring students can appreciate and analyze the local economic landscape.
5. Holistic Development: To promote an understanding of the interplay between economics, society, and the environment, preparing students for informed citizenship and responsible decision-making.

Module Contents

Section 1: Introduction to Economics

• Chapter 1: Introducing Economics
• Chapter 2: The Basic Economic Problems and Economic Systems
• Chapter 3: Economic Resources and Markets

Section 2: Consumer Behavior, Demand and Supply

• Chapter 4: Theory of Consumer Behavior
• Chapter 5: Introduction to Demand and Supply
• Chapter 6 : Theories of Elasticity

Section 3: Theories of Production, Cost and Market Structure

• Chapter 7 : Theories of Production and Cost
• Chapter 8 : Market Structure and the Decision of Firms

Section 4: Macroeconomics

• Chapter 9: Introduction to Macroeconomics
• Chapter 10 : The Fundamental Concepts of Macroeconomics
• Chapter 11 : National Income Accounting
• Chapter 12 : Aggregate Demand and Aggregate Supply Analysis

Section 5: Trade, Finance, and Economic Policies

• Chapter 13 : Trade and Finance
• Chapter 14 : Macroeconomic Policy Instruments
• Chapter 15 : Macroeconomic Reforms in Ethiopia

Section 6: Economic Growth and Development

• Chapter 16: Economic Growth
• Chapter 17: Economic Development
• Chapter 18: Main Sectors, Sectorial Policies, and Strategies of Ethiopia

Section 7: Banking and Finance

• Chapter 19 : Introduction to Money
• Chapter 20 : Banking and Finance
• Chapter 21 : Tax Theory and Practice

Section 8: Entrepreneurship and Innovation

• Chapter 22 : Basic Entrepreneurship
• Chapter 23 : Business Startups and Innovation

Section 9: Poverty, Inequality, and Environmental Issues

• Chapter 24: Poverty, Inequality and Women empowerment
• Chapter 25 : Economy, Environment, and Climate Change
• Chapter 26 : Market Failure and Consumer Protection