ECONOMICS GENERAL COURSE
Unit 1: Personal economic and financial decisions
Economic knowledge and understanding
Personal earning, spending and saving decisions
- the opportunities people have to obtain an income and/or wealth, including:
- work
- inheritance
- superannuation
- investment returns
- social welfare payments
- direct and indirect social welfare payments provided by the Commonwealth Government though Centrelink, including:
- pensions, such as the Age Pensions and Disability Support Pension
- benefits, such as the Child Care Benefit
- allowances, such as Youth Allowance and Newstart Allowance.
Reasoning, interpretation and analysis
- identify and organise relevant information within sources
- identify trends and relationships in economic or financial information and data, such as comparative investment returns from different portfolios and income distribution
- 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.