Number of Units: 2
Exclusions: None
Method of Delivery: St Luke’s
External Assessment: Exam
Contribution to ATAR: Yes
Course Description
Economics provides an understanding for students about many aspects of the economy and its operation that are frequently reported in the media. It investigates issues such as why unemployment or inflation rates change and how these changes will impact on individuals in society. Economics develops students’ knowledge and understanding of the operation of the global and Australian economy. It develops the analytical, problem-solving and communication skills of students. There is a strong emphasis on the problems and issues in a contemporary Australian economic context within the course.
Why study this course
Economic decisions have a crucial influence on the quality of life experienced by people throughout the world. The study of economics can help individuals, groups and societies make choices that assist them to improve their quality of life. It will also help in understanding the behaviours of individuals, firms, and governments in Australia, and globally. Discussion of economic issues dominates the media and politics. By understanding economics, students learn to make informed judgments about issues and policies and participate responsibly in decision-making processes.
Topics
Preliminary Course
Introduction to Economics (10%) – the nature of economics and the operation of an economy
Consumers and Business (10%) – the role of consumers and business in the economy
Markets (20%) – the role of markets, demand, supply and competition
Labour Markets – (20%) the workforce and role of labour in the economy
Financial Markets (20%) – the financial market in Australia including the share market
Government in the Economy – (20%) the role of government in the Australian economy
HSC Course
The Global Economy (25%) – Features of the global economy and globalisation
Australia’s Place in the Global Economy (25%) – Australia’s trade and finance
Economic Issues (25%) – issues including growth, unemployment, inflation, wealth and management.
Economic Policies and Management (25%) – the range of policies to manage the economy
Post School Options
If selected as a specialisation at university, Economics can lead to careers in: share, finance or commodities markets; business, economic forecasting; banking; insurance; tourism; resource management; property development and management; government; environmental management; town planning; foreign affairs; law or economic policy development, education, or of course as an economist either in the government or at corporate level in the private sector.