The Grade 12 Economics curriculum is designed to bridge the gap between theoretical economic models and real-world application. For the Class of 2026, success in the National Senior Certificate (NSC) depends on a deep understanding of how markets, governments, and international trade interact.
This guide outlines the 2026 Economics Annual Teaching Plan (ATP), providing a clear roadmap of what to study week by week, from circular flow models to environmental sustainability.
Economics Grade 12 ATP 2026
The curriculum is divided into four main topics split across two examination papers. The ATP below organizes these topics into a structured timeline to ensure all content is covered before the final exams.
Term 1: Macro-Economics
Focus: The first term builds a strong foundation in macro-economic theory, looking at the economy as a whole.
- Week 1–3: Circular Flow
- Understanding the open and closed economy models.
- Analyzing role players, injections, leakages, and the economy in equilibrium.
- Calculations involving the multiplier, marginal propensity to consume (mpc), and national account aggregates.
- Week 4–5: Business Cycles
- Composition, features, and causes of business cycles.
- Government policy intervention (monetary and fiscal) and the new economic paradigm (smoothing of cycles).
- Week 6–7: Public Sector
- The composition and necessity of the public sector.
- Problems of public sector provisioning and public sector failure.
- Fiscal policy, budgets, and the Laffer curve.
- Week 8–10: International Trade (Foreign Exchange)
- Reasons for international trade, including absolute and comparative advantage.
- The Balance of Payments, the role of the IMF, and correcting disequilibria.
- Foreign exchange markets and the establishment of exchange rates.
Term 1 Assessments
- Task 1: Assignment (50 Marks).
- Task 2: Controlled Test (100 Marks) – Covers Term 1 content.
Term 2: Micro-Economics & Economic Pursuits
Focus: The second term shifts to the dynamics of individual markets and international trade policies.
- Week 1–2: Perfect Markets
- Perfect competition, market structure, and output (profits and losses).
- Price formation concepts, demand and supply, and price elasticity of demand.
- Week 3–4: Imperfect Markets
- Study of Monopolies, Oligopolies, and Monopolistic competition.
- Cost and revenue analysis within these market structures.
- Week 5: Market Failures
- Causes and consequences of market failure.
- Cost-benefit analysis (conserving vs. using resources) and public sector intervention.
- Week 6–7: International Trade Policies
- Protectionism vs. Free Trade.
- Export promotion, import substitution, and the role of the WTO and economic integration (e.g., AU, SADC).
- Week 8–11: Economic Growth and Development
- Distinction between growth and development.
- Demand-side vs. Supply-side approaches and the North/South divide.
Term 2 Assessments
- Task 3: Research Project.
- Task 4: June Examination / Controlled Test (150 or 300 Marks) – Covers Term 1 & 2 work.
Term 3: Economic Pursuits & Contemporary Issues
Focus: The third term addresses industrial strategies and pressing real-world economic issues like inflation and tourism.
- Week 1–2: Growth & Development (Continued)
- Focus on South African endeavors and global development strategies.
- Week 3: Industrial Development
- Regional development in South Africa and the appropriateness of SA strategies (e.g., IDZ, SEZ).
- Week 4: Economic and Social Indicators
- Assessing the performance of the economy using economic (e.g., GDP, CPI) and social indicators.
- Week 5: Inflation
- Types, causes, and consequences of inflation.
- Measures to combat inflation and the Phillips curve.
- Week 6: Tourism
- Reasons for growth in tourism and its benefits to the SA profile.
- Indigenous Knowledge Systems (IKS).
- Week 7: Environmental Sustainability
- State of the environment and international measures to ensure sustainability.
Term 3 Assessments
- Task 5: Case Study (50 Marks).
- Task 6: Trial Examination (Paper 1 & Paper 2).
Term 4: Revision and Final Exams
Focus: Consolidating knowledge for the final two papers.
- Week 1–2: Revision of Paper 1 (Macro & Economic Pursuits) and Paper 2 (Micro & Contemporary Issues).
- Final Assessment: NSC Final Examination.
FAQ: Grade 12 Economics 2026
Q: What topics are covered in Economics Paper 1 vs. Paper 2? A:
- Paper 1 (Macro-economics & Economic Pursuits): Circular flow, Business cycles, Public sector, Foreign exchange, Protectionism, and Growth & Development.
- Paper 2 (Micro-economics & Contemporary Issues): Perfect/Imperfect markets, Market failure, Inflation, Tourism, and Environmental sustainability.
Q: How much does the Research Project count? A: The Research Project is a major SBA component completed in Term 2. Along with the Assignment (Term 1) and Case Study (Term 3), it contributes significantly to your internal year mark.
Q: Are there graphs I need to know? A: Yes. You must be able to draw and interpret graphs for market structures (Perfect, Monopoly, Oligopoly), business cycles, the Laffer curve, the Phillips curve, and the Lorenz curve (distribution of income).