Search

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.  Students learn about: Distribution of income and wealth sources of income as a percentage of household income taxation, transfer payments and other assistance. Topic 4: Economic Policies and Management…

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 different methods of market modification required to correct market failure, including direct and indirect taxation (e.g. Pigouvian taxes), subsidies, direct state provision…

ECONOMICS Stage 1 Thinking Like an Economist Cause and effect Justifying decisions, and the consequences of those decisions on individuals, firms, the economy, and society. Data analysis Understand a range of qualitative and quantitative economic data.  Collect and analyse data in order to explain economic activity.  Use appropriate graphs, diagrams, and tables to display results that support their arguments. Economic…

ECONOMICS LEVEL 3 Unit 1: An Introduction to Economics The economic problem and economic systems 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. Economic policies and action The link between market failure and the role of government Government policy options to correct market failure – the use of taxes and…

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 budgetary policy decisions on the achievement of equity in the distribution of income and the…

ECONOMICS GENERAL COURSE  Unit 1: Personal economic and financial decisions Economic knowledge and understanding 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…

ECONOMICS Unit 3: Economics Macroeconomic Issues Macroeconomic Theories A Course Structure, operation and models apply economic methods of inquiry and analyse their impact (ECOA02). Nature and purpose of economics discuss the relationship between economic events and outcomes (ECOA05). Types and forms explain the influence of political, ethical, environmental and social factors economic decision making (ECOA07). Issues,…

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.  Students learn about: Economic objectives in relation to: distribution of income.