Length: Semester

Recommended background: None

Content:

This course provides students with the opportunity to further develop their understanding of economics and business concepts by considering Australia’s economic performance and standard of living. The ways governments manage economic performance to improve living standards is explored, along with the reasons why economic performance and living standards differ within and between economies. Students explore the nature of externalities and why the government intervenes to ensure that prices reflect the depletion of resources or costs to society. Students examine the consequences of decisions and the responses of business to changing economic conditions, including the way they manage their workforce.

The content at this year level involves the following two strands:

• economics and business knowledge and understanding
• economics and business skills

Students will learn through contemporary issues, events and/or case studies which covers a range of contexts such as personal, local, regional, national, and global. Assessments include a mixture of exams and tasks (inquiry, report and presentation).

Assessment:

Students’ performance will be determined according to the subject’s Achievement Standards as outlined in the framework of the Australian Curriculum. Grades A to E will be used for reporting purposes.