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ECONOMICS Stage 1 Thinking like an economist Data analysis Understand a range of qualitative and qualitative economic data Collect and analyse data in order to explain economic activity. Economic contexts Government involvement in the economy Government involvement in the economy, including allocation of resources to the production of goods and services that are undersupplied by the market. 

ECONOMICS LEVEL 3 Unit 2: Economic Management  Management Policies Economic knowledge Fiscal/Budgetary policy: major components of government revenue and government expenditure in the budget   

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 the role and effect of indirect taxation, subsidies, government…

ECONOMICS GENERAL COURSE  Unit 4 – Macroeconomics  Economic knowledge and understanding The public sector 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. Taxation types and classification of: direct and indirect taxes taxes on…

ECONOMICS Unit 3: Economics Macroeconomic Issues Macroeconomic Theories   A Course Concepts and principles examine principles, structure and operation of economic models (ECOA03). 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…

ECONOMICS Topic 3: Economic Issues Students learn about: Economic issues in the Australian economy  Economic growth  aggregate demand and its components: Y = C+I+G+X–M injections and withdrawals (I+G+X; S+T+M). Topic 4: Economic Policies and Management Students learn about: Economic objectives in relation to: Potential conflicts among objectives. Macroeconomic policies rationale for macroeconomic policies –…

ECONOMICS  Unit 4: Contemporary macroeconomics Topic 1: Macroeconomic objectives and theory recall the circular flow model, the components of aggregate demand (represented by Consumption + Investment + Government + Net exports (Exports – Imports) or C + I + G + (X – M)) and the key factors affecting these components apply the aggregate demand/aggregate supply model to determine the overall price level and equilibrium level of real…

ECONOMICS Stage 2 Thinking Like an Economist Economic inquiry skills  Investigate scenarios and economic problems through: applying principles, models, and terminology appropriately in a variety of economic contexts  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…