Economics & Business

Do you enjoy or are you good at Business Studies? (Click here for the Business Studies Bullseye Poster)
Click here for a list of examples of where an interest in Economics and Business can lead you, including University Courses, TAFE courses and Apprenticeships. Information provided by the IMVC in their Subject Selection Kit

Why Study Economics / Business?

Economics relates to the decisions that are made about resource use in producing goods and services, and about the distribution of the proceeds of production.  The economic decisions taken by individual groups, businesses and governments have effects on the welfare of nations and regions; today these effects are increasingly global in their impact.  A major challenge facing societies in the twenty-first century is how to balance further growth of living standards and improvements in the distribution of the world’s income and wealth, with protection of the environment and the maintenance of liberal democratic government. 

To understand the basis for these economic decisions, and their impact, requires an understanding of basic economic principles and concepts.  It also requires an understanding of the influence of political, ethical, environmental and social forces on economic decision-making.  The study of economics will help students to become informed global citizens, able to discern economically and socially responsible decisions and to influence others to act likewise.

Business Management examines the ways in which people at various levels within a business organisation manage resources to achieve the objectives of that organisation.  Students develop an understanding of the challenges, complexity and rewards that come from business management and gain insight into the various ways resources can be managed in small, medium and large-scale organisations.

Students will examine a range of management theories and, through exposure to real business scenarios and/or direct contact with business test them against management in practice.  In addition, students will develop knowledge and skills that enhance their confidence and ability to participate effectively, as socially responsible and ethical members of the business community, and as informed citizens, consumers and investors.

 (Extracted from V.C.A.A. Study Summaries: Economic 2004-2009 and Business Management 2005-2009)

ECONOMICS – industry & related information The Economic Society of Australia Australian Computer Society – provides a career portal with courses, scholarships, job descriptions and case studies. Australian Industry Group – includes information and contacts for cadetships, traineeships and apprenticeships in a number of different industries. Australian Institute of Credit Management – site provides information on courses, what the training allows you to do and job titles. CPA Australia – site provides details of the role and activities undertaken by CPA Australia. Department of Foreign Affairs and Trade – provides details about activities undertaken and recruitment procedures. Department of Treasury – provides details about activities undertaken and recruitment procedures. Financial Planning Association of Australia – includes useful information about becoming a financial planner. Finance Sector Union – includes career information and industry statistics. Innovation and Business Skills Australia – includes useful facts sheets on different design and business careers. National Institute of Accountants – information about activities undertaken by NIA.