Economics Lesson Five

Subject: Economics

Resource type: Lesson

Skills: Creativity, Teamwork

Click to download the resource

The Benchmarking Challenge: In this activity, students step into the role of a HR Manager tasked with attracting the right candidates to their vacant job roles. Access our comprehensive resource package, including detailed teacher notes, PowerPoint, student worksheet and answer sheet. Adapt to your classroom’s needs for a dynamic learning experience. Login, or create an account, to download these resources.

Scenario

Kai is a HR Manager at a large pharmaceutical company, PharmacareUK. He is currently in the process of recruiting for two pharmacologists. Kai needs to understand how he can attract the right talent to these roles. Part of his role looks at undertaking salary benchmarking against similar jobs in the market.

Learning Aim

To be able to understand the role and operation of the labour market, including the determination of wages through supply and demand.

Skills Builder Links

Problem solving step 4
I explore problems by creating different possible solutions.

Creativity step 9
I develop ideas by asking myself questions.

Curriculum Table

England: The national curriculum (England)The role of markets
Students must know and understand the role and operation of the labour market, including the determination of wages through supply and demand.
Scotland: The National 5 Business ManagementEconomics of the market
Theory of supply – supply schedules and supply curves.
Determinants of supply – Effects of changes in determinants of supply on quantity supplied.
Wales: WJEC GCSE in business specificationCurrently, there is no WJEC GCSE economics qualification available. WJEC only provides Economics at A-Level.