ECONOMICS GENERAL COURSE
Unit 3 – Microeconomics
Economic knowledge and understanding
Effects of government policies
- the effects of a tax on a market
- the effects of a subsidy on a market.
Economic research
- select appropriate print and electronic media sources of economic information and data on markets
- apply appropriate methods of recording and organising microeconomic information, including spreadsheets, graphs and tables
- apply problem-solving, critical thinking and decision-making strategies to achieve outcomes that may be predictable and contestable by nature.
Reasoning, interpretation and analysis
- identify and organise relevant information within sources
- identify trends and relationships in economic information and data on markets
- use economics models, including demand and supply graphs, to analyse market behaviour and performance
- 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
- use economic models to convey economic theory and reasoning about microeconomic events and issues.
ECONOMICS ATAR COURSE
Unit 1 – Microeconomics
Economic knowledge and understanding
Effects of government policies
- the effects of a tax on a market
- the effects of a subsidy on a market.
Economic research
- select appropriate print and electronic media sources of economic information and data on markets
- apply appropriate methods of recording and organising microeconomic information, including spreadsheets, graphs and tables
- apply problem-solving, critical thinking and decision-making strategies to achieve outcomes that may be predictable and contestable by nature.
Reasoning, interpretation and analysis
- identify and organise relevant information within sources
- identify trends and relationships in economic information and data on markets
- use economics models, including demand and supply graphs, to analyse market behaviour and performance
- 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
- use economic models to convey economic theory and reasoning about microeconomic events and issues.
Unit 4 – Economic policies and management
Economic knowledge and understanding
- the extent to which the economic objectives of the Australian Government may conflict and complement each other.
Measures to improve productivity
- recent (the last ten years) government policies that promote productivity and economic growth, such as taxation reform
- the impact of productivity on the achievement of macroeconomic objectives.
Economic research
- identify research questions to investigate
- select appropriate print and electronic media sources of economic information and data on Australia’s economic policy and management
- apply appropriate methods of recording and organising macroeconomic information, including spreadsheets, graphs and tables.
Reasoning, interpretation and analysis
- identify and organise relevant information within sources
- identify trends and relationships in economic information and data regarding Australia’s economic policy and management
- interpret changes in economic data, including prices, unemployment, economic growth, the labour force and productivity
- use macroeconomic models to analyse Australia’s policy stance, including the Keynesian aggregate expenditure model and the aggregate demand and aggregate supply model
- 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
- use economic models to convey economic theory and reasoning about Australia’s policy mix.