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ECONOMICS Unit 2: Economics  Unit 3: Economics  Market Failure Macroeconomic Theories  A Course Concepts and principles proposes individual and/or collective action drawing on economic concepts and principles, taking into account environmental, social and economic factors; and predicts the outcomes of the proposed action (ECOA04) Types and forms explain the consequences of contemporary economic issues on individuals…

ECONOMICS Topic 3: Markets Students learn about: Demand and supply Alternatives to market solutions – the role of government the role of government (market failure – merit goods, public goods, externalities). Topic 6: Government and the Economy  Students learn about: Government intervention in the economy Limitations of the operation of the free market provision of goods and services, public goods, merit goods

ECONOMICS Unit 2: Modified markets Topic 1: Markets and efficiency describe key concepts using economic terminology, including allocative efficiency, externalities, market failure, goods (public, private, merit and demerit), and signals. explain and analyse the causes and effects of market failure, including the difference between public goods (e.g. fresh air, national security, street lighting) and private goods, why markets might not…

ECONOMICS Stage 1 Economic Contexts Markets in action Investigate and recognise market failure. Government involvement in the economy Situations where a government takes action in an economy to modify market outcomes. Government involvement in the economy, including: allocation of resources to the production of goods and services that are undersupplied by the market. Stage 2  Thinking Like an Economist …

ECONOMICS LEVEL 3 Unit 1: An Introduction to Economics  Market failure and government policies Economic knowledge Main types of market failure: public goods and common resources. Economic decision-making Analysis of market failure in terms of public goods and common resources. Economic policies and action The link between market failure and the role of government.

ECONOMICS Unit 3: Australia's Economic Prosperity  Area of Study 1: An introduction to microeconomics: the market system, resource allocation and government intervention Outcome 1 On completion of this unit the student should be able to explain how markets operate to allocate resources, and discuss the effect of government intervention on market outcomes. Key knowledge reasons for market failure: public goods, externalities,…

ECONOMICS GENERAL COURSE Unit 3 – Microeconomics Economic knowledge and understanding Public goods and common resources why public goods suffer from the free rider effect. Unit 4: Macroeconomics Economic knowledge and understanding The public sector the provision of goods and services. ECONOMICS ATAR COURSE Unit 1 – Microeconomics Economic knowledge and understanding Public goods and common resources why public goods suffer…

HEALTH, OUTDOOR AND PHYSICAL EDUCATION T Course Year 11 Knowledge explains health, outdoor, physical education theories, concepts and models and describes their limitations and assumptions explains health, outdoor, physical education principles, strategies, methodology, approaches to data, procedures and describes their validity and reliability explains representations and interpretations of health, outdoor, physical education topics…