SSEC21.1.1 SA mapping

ECONOMICS

Stage 1

Thinking Like an Economist 

Economic inquiry skills 

  • Use an inquiring, critical, and thoughtful approach to their study of economics
  • Investigate scenarios and economic problems through:
    • analysing the rationale for economic decisions and evaluating their intended and unintended consequences 
    • communicating reasoned arguments and evidence-based recommendations.

Microeconomics 

  • Analyse and evaluate the consequences of subsides and taxes on markets government interventions on markets.

Thinking Like an Economist 

Government involvement in the economy

  • Use the circular-flow model to explore the effects of government involvement in the economy.

Trade in the global economy

  • Students develop an understanding of arguments for and against the free trade of goods and services between nations.

Stage 2

Thinking Like an Economist 

Trade and globalisation

  • Apply economic thinking to analyse the advantages and disadvantages of free trade, the impact of externalities, and the impact of trade and globalisation on consumers, producers, the economy, and society.