This lesson is designed as an introduction to economics exercise. It is the lesson that I provide to my classes, on day one of the course. Many of your students will be taking the course for the first time and will not necessarily have an understanding of what the subject actually involves. Perhaps some of your class will have only a little knowledge of the subject but may know that it involves money and perhaps they hope, how to get rich?
For others of you, many of your students may have already taken the class at IGCSE level. They will have a much clearer idea of what the course involves. This lesson is a good way to start off your IB class and provide your students with an idea of what to expect from the next two years. This first lesson is fun with your classes particularly enjoying the opening video as well as the beginning exercise. This lesson can also be used as a taster lesson for pre-IB students considering taking the course at IB level.
Lesson time: 45 minutes
- To introduce the subject to your new IB class.
- Have students share their thoughts on what the subject involves and why they chose the subject at IB level?
- Introduce students to the concept of GDP per capita as a measure of national income.
1. Beginning question
- What is economics?
- Why did you select this subject at IB level?
2. Video activity
Watch the following youtube video and then answer the question which follows
Does this video support or contradict your initial preconceptions about the course?
1. Complete the following activity for the following countries: USA, Brazil, Pakistan, Germany, India, Greece, South Africa, Italy, Botswana, China, Argentina, Nigeria, Bangladesh. The handout can be downloaded at What is economics
2. Tick the box that you believe each nation belongs in - a wealthy nation, a middle income country or a low income nation.
A full list of GDP (national income per capita) can be found at:
4. Final reflection and discussion
How do your lists compare with the list generated after investigating via the website?
Are there any surprises on the list? Are there countries that are wealthier than you expected? What about nations that had a lower income than you thought?