ECONOMICS GENERAL COURSE
Unit 4 – Macroeconomics
Economic knowledge and understanding
The public sector
- the size of the government sector in the Australian economy currently, over time, and relative to other economies
- the size and composition of government revenue and spending in Australia at the commonwealth, state and local government levels.
Taxation
- types and classification of:
- direct and indirect taxes
- taxes on income or expenditure
- types of Commonwealth taxes, including personal and income tax, goods and services tax, company tax, capital gains tax, fringe benefits tax and excise duty.
Economic objectives
- the economic objectives of the Australian Government eg: a more equitable distribution of income and the efficient allocation of resources.
Macroeconomic performance
Economic research
- apply problem-solving, critical thinking and decision-making strategies to achieve outcomes which may be predictable and contestable by nature.
Reasoning, interpretation and analysis
- identify trends and relationships in economic information and data on the macroeconomy
- use economic information and data to make predictions on the macroeconomy
- use evidence found in economic information and data to justify a conclusion.
Communication
- select and use appropriate terminology
- select and use appropriate formats when communicating economic understandings.
ECONOMICS ATAR COURSE
Unit 2 – Macroeconomics
Economic knowledge and understanding
The public sector
- the size of the government sector in the Australian economy currently, over time, and relative to other economies
- the size and composition of government revenue and spending in Australia at the commonwealth, state and local government levels.
Taxation
- types and classification of:
- direct and indirect taxes
- taxes on income or expenditure
- types of Commonwealth taxes, including personal and income tax, goods and services tax, company tax, capital gains tax, fringe benefits tax and excise duty.
Economic objectives
- the economic objectives of the Australian Government eg: a more equitable distribution of income and the efficient allocation of resources.
Macroeconomic performance
Economic research
- apply problem-solving, critical thinking and decision-making strategies to achieve outcomes which may be predictable and contestable by nature.
Reasoning, interpretation and analysis
- identify trends and relationships in economic information and data on the macroeconomy
- use economic information and data to make predictions on the macroeconomy
- use evidence found in economic information and data to justify a conclusion.
Communication
- select and use appropriate terminology
- select and use appropriate formats when communicating economic understandings.
Unit 4 – Economic policies and management
Economic knowledge and understanding
Fiscal policy
- the concept of fiscal policy
- the components of government revenue and expenditure in the budget.
Reasoning, interpretation and analysis
- identify trends and relationships in economic information and data regarding Australia’s economic policy and management
- use evidence found in economic information and data to justify a conclusion.
Communication
- select and use appropriate formats when communicating economic understandings.