ECONOMICS-01 · Foundation · ENGLISH · PLANNED
State the question and assumptions, draw the model, analyse evidence and test competing explanations.
Study time is an initial activity estimate, excluding extra reading, revision and extended laboratory or project work. Videos and question bodies have not been produced by adding this outline.
No subject prerequisites. Start here; reading support from a trusted adult may help younger learners.
YouTube playlist: ARK Economics | Economics from Everyday Decisions
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Sign in to save this learning pathPractical outcome: Compare everyday choices using a fictional learner's limited time.
Explain scarcity using a visual and one worked real-world example. Context: Compare everyday choices using a fictional learner's limited time. End with a prediction or check-for-understanding.
Explain needs and wants using a visual and one worked real-world example. Context: Compare everyday choices using a fictional learner's limited time. End with a prediction or check-for-understanding.
Explain opportunity cost using a visual and one worked real-world example. Context: Compare everyday choices using a fictional learner's limited time. End with a prediction or check-for-understanding.
Explain incentives using a visual and one worked real-world example. Context: Compare everyday choices using a fictional learner's limited time. End with a prediction or check-for-understanding.
Use the first concepts from this section. Compare everyday choices using a fictional learner's limited time. Produce a labelled diagram, trace or calculation; explain each step and check one changed input.
3–6 questions on the preceding first-half concepts only: recall, visual interpretation, application and one plausible misconception. Explain each answer after submission.
Explain marginal decisions using a visual and one worked real-world example. Context: Compare everyday choices using a fictional learner's limited time. End with a prediction or check-for-understanding.
Explain trade-offs using a visual and one worked real-world example. Context: Compare everyday choices using a fictional learner's limited time. End with a prediction or check-for-understanding.
Explain positive statements using a visual and one worked real-world example. Context: Compare everyday choices using a fictional learner's limited time. End with a prediction or check-for-understanding.
Explain normative statements using a visual and one worked real-world example. Context: Compare everyday choices using a fictional learner's limited time. End with a prediction or check-for-understanding.
Compare everyday choices using a fictional learner's limited time. Work without the example, compare two cases, record assumptions and limitations, then self-review correctness, reasoning and clarity.
6–12 questions covering Scarcity, Needs and wants, Opportunity cost and the remaining section concepts, with cumulative retrieval from earlier sections. Include a new transfer problem; 70% unlocks progression.
Practical outcome: Use a market-stall example to explain prices and exchange.
Explain specialisation using a visual and one worked real-world example. Context: Use a market-stall example to explain prices and exchange. End with a prediction or check-for-understanding.
Explain exchange using a visual and one worked real-world example. Context: Use a market-stall example to explain prices and exchange. End with a prediction or check-for-understanding.
Explain buyers and sellers using a visual and one worked real-world example. Context: Use a market-stall example to explain prices and exchange. End with a prediction or check-for-understanding.
Explain demand using a visual and one worked real-world example. Context: Use a market-stall example to explain prices and exchange. End with a prediction or check-for-understanding.
Use the first concepts from this section. Use a market-stall example to explain prices and exchange. Produce a labelled diagram, trace or calculation; explain each step and check one changed input.
3–6 questions on the preceding first-half concepts only: recall, visual interpretation, application and one plausible misconception. Explain each answer after submission.
Explain supply using a visual and one worked real-world example. Context: Use a market-stall example to explain prices and exchange. End with a prediction or check-for-understanding.
Explain market prices using a visual and one worked real-world example. Context: Use a market-stall example to explain prices and exchange. End with a prediction or check-for-understanding.
Explain shortages using a visual and one worked real-world example. Context: Use a market-stall example to explain prices and exchange. End with a prediction or check-for-understanding.
Explain surpluses using a visual and one worked real-world example. Context: Use a market-stall example to explain prices and exchange. End with a prediction or check-for-understanding.
Use a market-stall example to explain prices and exchange. Work without the example, compare two cases, record assumptions and limitations, then self-review correctness, reasoning and clarity.
6–12 questions covering Specialisation, Exchange, Buyers and sellers and the remaining section concepts, with cumulative retrieval from earlier sections. Include a new transfer problem; 70% unlocks progression.
Practical outcome: Draw and critique a simple model of a school canteen.
Explain models and assumptions using a visual and one worked real-world example. Context: Draw and critique a simple model of a school canteen. End with a prediction or check-for-understanding.
Explain ceteris paribus using a visual and one worked real-world example. Context: Draw and critique a simple model of a school canteen. End with a prediction or check-for-understanding.
Explain stocks versus flows using a visual and one worked real-world example. Context: Draw and critique a simple model of a school canteen. End with a prediction or check-for-understanding.
Explain nominal versus real values using a visual and one worked real-world example. Context: Draw and critique a simple model of a school canteen. End with a prediction or check-for-understanding.
Use the first concepts from this section. Draw and critique a simple model of a school canteen. Produce a labelled diagram, trace or calculation; explain each step and check one changed input.
3–6 questions on the preceding first-half concepts only: recall, visual interpretation, application and one plausible misconception. Explain each answer after submission.
Explain correlation versus causation using a visual and one worked real-world example. Context: Draw and critique a simple model of a school canteen. End with a prediction or check-for-understanding.
Explain economic data using a visual and one worked real-world example. Context: Draw and critique a simple model of a school canteen. End with a prediction or check-for-understanding.
Explain graph interpretation using a visual and one worked real-world example. Context: Draw and critique a simple model of a school canteen. End with a prediction or check-for-understanding.
Explain limits of models using a visual and one worked real-world example. Context: Draw and critique a simple model of a school canteen. End with a prediction or check-for-understanding.
Draw and critique a simple model of a school canteen. Work without the example, compare two cases, record assumptions and limitations, then self-review correctness, reasoning and clarity.
6–12 questions covering Models and assumptions, Ceteris paribus, Stocks versus flows and the remaining section concepts, with cumulative retrieval from earlier sections. Include a new transfer problem; 70% unlocks progression.
Combine all three sections: Draw and critique a simple model of a school canteen. Submit an original worked artifact, evidence or tests, assumptions and a reflection. Rubric: correctness, method, practical usefulness, reproducibility and communication. Self-reviewed, not certified.
6–12 balanced questions sampling every section of Economics from Everyday Decisions, including interpretation, calculation or reasoning, a misconception and a new application. Passing is 70%; review errors before retrying.
Economic diagrams, synthetic datasets, calculations and evidence-based policy memos. Guided work leads to an independent attempt, with a diagram, explanation, trace, calculation or tested artifact. Question bodies are generated when opened in your private learning path. Programming submissions are stored as text; the platform does not execute submitted code.
Use original or appropriately licensed datasets. Practical science activities use models or supplied data unless a qualified supervisor has reviewed a physical experiment.
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