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ECONOMICS Unit 3: Economics Macroeconomic Issues Macroeconomic Theories A Course Concepts and principles examine principles, structure and operation of economic models (ECOA03). Types and forms explain the consequences of contemporary economic issues on individuals, firms and governments (ECOA08). Issues, perspectives and viewpoints identify and describe trends and patterns, infers relationships, and makes predictions and…

ECONOMICS Topic 3: Economic Issues  Students learn to: Examine economic issues investigate recent trends in the distribution of income in Australia and identify the impact of specific economic policies on this distribution. Apply economic skills interpret a Lorenz curve and a Gini coefficient for the distribution of income in an economy. Students learn about: Distribution of income and wealth measurement – Lorenz curve and…

ECONOMICS Unit 2: Modified markets Topic 2: Case options of market measures and strategies Case option C: Inequality describe key concepts using economic terminology, including absolute and relative poverty, egalitarian society, income, transfer payments, wealth, and the welfare state describe a range of measures and indicators of inequality, e.g. the Lorenz curve, Gini coefficient, Henderson poverty lines, household income, mean and…

ECONOMICS Stage 2 Thinking Like an Economist Economic inquiry skills  Investigate scenarios and economic problems by: communicating reasoned arguments and evidence-based recommendations. Data analysis  Understand a range of qualitative and quantitative economic data.  Use data to understand economic activity, the behaviour of people, businesses, markets and governments.  Analyse data, identify patterns…

ECONOMICS LEVEL 3 Unit 1: An Introduction to Economics  Market failure and government policies Economic knowledge Main types of market failure: income inequality: relative and absolute positive and negative externalities. Economic decision-making Analysis of market failure in terms of economic and social problems caused by income inequality. Inequity of free market for those on low or no income. Unit 4: Investigation into a…

ECONOMICS Unit 2: Contemporary Economic Issues  Area of Study 2: Economic efficiency and equity Outcome 2 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 the difference between equity in the distribution of income and equality in the…

ECONOMICS GENERAL COURSE  Unit 1: Personal economic and financial decisions Economic knowledge and understanding identify trends and relationships in economic or financial information and data, such as comparative investment returns from different portfolios and income distribution apply economic reasoning to inform personal economic and financial decisions use evidence found in economic information and data to justify a conclusion…

ECONOMICS Unit 3: Economics Macroeconomic Issues Macroeconomic Theories   A Course Types and forms explain the consequences of contemporary economic issues on individuals, firms and governments (ECOA08). Inquiry, research and investigation explain economic relationships through the interpretation of patterns, data and information (ECOA12). Communication communicate economic information, ideas, issues and arguments using…