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Regenerative Economics x European Baccalaureate Economics Mapping
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This spreadsheet indicates possible footholds in the European Baccalaureate syllabus for Regenerative Economics content.
Note: This is a living document. More Regenerative Economics content will be added as we develop the work 2024-2025
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European Baccalaureate Economics SyllabusRegenerative Economics Textbook SectionsAdditional comments
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S4-A. Nature and principles of economics
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A1 - explain what is meant by:
 the basic economic problem
 opportunity cost
 incentives
 goods and services
 the factors of production
 production, consumption, economic agents
(households, firms)		1.1.1 The economy and you
1.1.2 The embedded economy
1.3.1 Human nature
1.3.3 Human needs

All of Subtopic 1.2 Ecology and the economy
1.2.1 Human-nature relationship
1.2.2 Energy basics
1.2.3 The impact of the fossil fuel energy pulse
1.2.4 Matter in the economy
1.2.5 Ecosystems: energy, interactions, stability
1.2.6 Biogeochemical flows
1.2.7 Planetary boundaries		Challenging the assumption that human needs/wants are unlimited is very important. It's a fundamental assumption that underpins most economic models students learn about, but is highly contested.

Students need to have a better understanding of how the economy is embedded in social and ecological systems. It's not enough to just say that we use land, labour, capital and entrepreneurship as factors of production. We are completely dependent on energy and matter from Earth's systems, and are depleting these and disturbing planetary processes at such an alarming rate that we threaten our own existence. These sections provide students some understanding of basic ecology to get this point across.
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S4-B. Consumption of goods and services
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B1 - explain the economic functions and objectives of households

2.1 What is the household? (4 sections)

2.2 Household relationships with other provisioning institutions (4 sections)

2.3 Households: power and inequality (4 sections)

2.4 Strategies to strengthen households (4 sections)

Topic 6: Money and finance
(coming summer 2025)		Focusing on the consumption role of households, as the EB Econ course does, misses the main function of this provisioning institution: care for household members.

You can use sections from Topic 2: Households to enrich students understanding of households. 2.1.1 and 2.1.3 provide the basics.

Topic 6: Money and finance will have a subtopic on financial literacy that teaches some of the traditional elements of financial literacy along with a relational (as opposed to purely individual), holistic approach emphasising economic resilience.
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B2 - explain the component parts of a family’s budget (e.g. sources of income, types of expenditure) and the constraints imposed upon it
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B3 - explain the idea of a family’s purchasing power and
describe the operations of a family budget
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B4 - understand personal finance: savings vs. excessive
indebtedness
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B5 - show how the interests of consumers may be safeguarded
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S4-C. Production of goods and services
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C1 - explain the economic functions and objectives of producers3.3.1 The deep design of firms

3.3.1 Purpose of firms		Subtopic 3.3 Regenerative Businesses I: Doughnut design for business covers new ways of thinking about businesses as a force for good.
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C2 - identify the different sectors of production
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C3 - explain the productive combination (including added value and productivity) and how the different factors of production are rewarded
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C4 - explain the concepts of specialisation and division of labour
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C5 - calculate revenue, indicate the difference between fixed and variable costs and calculate the break-even point and profit / loss levels
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C6 - explain the concept of integration and economies of scale3.2.4 Market power
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C7 - identify legal types of business organization and present multinational corporations3.3.4 The ownership of firms
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C8 - identify and explain the different sources of business finance3.3.5 The financing of firms
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S4-D. Markets and price-determination
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D1 - indicate the factors influencing demand, and draw
individual and market demand curves		3.1.1 The market as a system

3.1.2 Demand and supply

3.1.4 Uses and limitations of markets

3.2.5 Moral limits of markets		Regenerative Economics does not use linear demand/supply analysis. Instead the materials use causal loops with balancing and reinforcing feedback to illustrate the relationships between demand/supply, price and non-price factors.

This approach gives students a more complex and dynamic understanding of markets. It is, however, a significant departure from the syllabus so must be used carefully, especially as students can lose many marks on the exam for nitpicky graphing errors.

Here is a research paper that compares using linear supply and demand analysis with causal loop diagrams with secondary students.
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D2 - indicate the factors influencing supply, and draw individual and market supply curves
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D3 - explain simple elasticities of demand and supply3.1.3 Elasticity
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D4 - determine equilibrium price and the quantity traded, and show how these may change
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S4-E. Distribution of goods and services
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E1 - show the different ways in which goods from the producer reach the consumer, and the importance of e.g. advertising, wholesaling, retailing, online shopping, shared economy storage and transport
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