ECONOMICS
Topic 1: Introduction to Economics
Students learn about:
Nature of economics
- governments – influencing the decisions of individuals and business
Topic 6: Government and the Economy
Students learn about:
Government intervention in the economy
Limitations of the operation of the free market
- inequality in the distribution of income – disadvantaged groups, relative poverty
Economic functions of the Australian Government
- reallocation of resources – types of taxes: direct and indirect, types of expenses
- redistribution of income – progressive, regressive and proportional taxes, social welfare payments.