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ECONOMICS Unit 4: Managing the Economy  Area of Study 1: Aggregate demand policies and domestic economic stability Outcome 1 On completion of this unit the student should be able to discuss the nature and operation of aggregate demand policies and analyse how the policies may influence the Australian Government’s domestic macroeconomic goals and living standards. Key knowledge Budgetary policy sources of government revenue…

ECONOMICS GENERAL COURSE Unit 4 – Macroeconomics Economic knowledge and understanding The public sector the role of the government in a modified market economy 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. Reasoning, interpretation…

ECONOMICS Topic 2: Consumers and Businesses Students learn to: Examine economic issues investigate the relative significance of the various sources of incomes in Australia. Apply economic skills identify key features of an economy through analysis of a variety of information types and sources. Students learn about: The role of consumers in the economy Sources of income the return for resources: wages, rent, interest and profits…

ECONOMICS Unit 2: Contemporary Economic Issues Area of Study 2: Economic efficiency and equity Outcome 1 On completion of this unit the student should be able to explain the factors and policies that may influence equity in the distribution of income and efficiency of resource allocation, and analyse the potential trade-off. Key knowledge income: earned and unearned income, transfer income, gross income, disposable income, nominal and…

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…

ECONOMICS Unit 2: Economics Unit 3: Economics Macroeconomic Theories Trade Economics A Course Nature and purpose of economics explain the economic role of individuals, firms, institutions, markets and governments (ECOA06). Issues, perspectives and viewpoints identify and describe trends and patterns, infers relationships, and makes predictions and inferences (ECOA09). Inquiry, research and investigation select and organise…

ECONOMICS Topic 2: Consumers and Businesses  Students learn to: Examine economic issues compare and contrast the ways that different economies deal with specific problems or issues. Apply economic skills identify key features of an economy through analysis of a variety of information types and sources. Students learn about: Economies: their similarities and differences examine similarities and differences between Australia…

ECONOMICS Unit 2: Modified markets Topic 2: Case options of market measures and strategies Case option C: Inequality analyse and evaluate government strategies and/or interventions to address inequality and measures aimed at alleviating inequality and improving living standards, e.g. taxation, transfer payments, subsidising of merit goods and other assistance. Communication skills create responses that communicate economic meaning…