Search

ECONOMICS LEVEL 3 Unit 2: Economic Management  Macroeconomic activity Economic knowledge Aggregate demand and aggregate supply. Economic reasoning Illustration of changes in macroeconomic equilibrium using the AD/AS model The objectives of economic policy Economic knowledge Roles of government in a modified market economy: stabilising the business cycle redistributing income through taxation and spending and the provision…

ECONOMICS Unit 2: Contemporary Economic Issues Area of Study 1:Economic growth, long-term economic prosperity and environmental sustainability Outcome 1 On completion of this unit the student should be able to explain the factors and policies that may influence economic growth and environmental sustainability, and analyse the potential trade-off. Key knowledge aggregate demand and its components government economic policy responses…

ECONOMICS ATAR COURSE  Unit 4 – Economic policies and management Economic knowledge and understanding The aggregate expenditure model the components of aggregate expenditure (AE) the aggregate demand (AD) curve and factors that can cause movements along and shifts of the AD curve demonstrate macroeconomic equilibrium using the AD/AS model demonstrate the impact of changes in aggregate demand and aggregate supply on the equilibrium…

ECONOMICS Unit 1: Economics Unit 2: Economics 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 influence of political, ethical, environmental and social factors economic decision making (ECOA07) explain the…

ECONOMICS Topic 1: Introduction to Economics Students learn about:  Nature of economics governments – influencing the decisions of individuals and business Topic 6: Government and the Economy Students learn about: Government intervention in the economy Limitations of the operation of the free market inequality in the distribution of income – disadvantaged groups, relative poverty Economic functions of the Australian…

ECONOMICS  Unit 2: Modified markets Topic 1: Markets and efficiency 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.  Topic 2: Case options of market measures and strategies Case option C: Inequality analyse and evaluate the private and social costs and benefits of pursuing a…

ECONOMICS Stage 1 Economic Contexts Government involvement in the economy Situations where a government takes action in an economy to modify market outcomes. Government involvement in the economy, including: redistribution of income in order to address inequality.  Stage 2 Economic Contexts Wealth, poverty and inequality  Apply economic thinking to explore the ways in which wealth, poverty and inequality are…

ECONOMICS LEVEL 3 Unit 1: An Introduction to Economics Market failure and government policies Economic policies and action Government policy options to correct market failure – the use of taxes and subsidies, assigning property rights, regulating the use of common property, providing public goods and services. Unit 2: Economic Management  Management Policies Economic knowledge Fiscal/Budgetary policy: Microeconomic policy – a…