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ECONOMICS Stage 2 Thinking Like an Economist Economic inquiry skills  Use an inquiring, critical, and thoughtful approach to their study of economics Investigate scenarios and economic problems through: analysing the rationale for economic decisions and evaluating their intended and unintended consequences  communicating reasoned arguments and evidence-based recommendations. Microeconomics  Analyse and…

ECONOMICS LEVEL 3 Unit 2: Economic Management  Management Policies Economic knowledge Microeconomic policy – a tool for improving economic efficiency intergenerational equity and inequality. Economic reasoning Demonstration and explanation of the impact of microeconomic reform on aggregate supply and macroeconomic equilibrium. Economic decision-making Impact of microeconomic reform (e.g. taxation) on aggregate supply and…

ECONOMICS Unit 4: Managing the Economy  Area of Study 2: Aggregate supply policies  Outcome 2 On completion of this unit the student should be able to discuss the nature and operation of aggregate supply policies and analyse how the policies may influence the Australian Government’s domestic macroeconomic goals and living standards. Key knowledge how welfare and tax reform policies are designed to influence aggregate supply…

ECONOMICS GENERAL COURSE Unit 3 – Microeconomics  Economic knowledge and understanding Effects of government policies the effects of a tax on a market the effects of a subsidy on a market. Economic research identify research questions to investigate select appropriate print and electronic media sources of economic information and data on markets apply appropriate methods of recording and organising microeconomic information,…

ECONOMICS Unit 2: Economics Unit 3: Economics Macroeconomic Issues  A Course Concepts and principles examine principles, structure and operation of economic models (ECOA03) 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). Nature and purpose of economics discuss the…

ECONOMICS Topic 4: Economic Policies and Management Apply economic skills explain how governments are restricted in their ability to simultaneously achieve economic objectives identify limitations of the effectiveness of economic policies  explain the impact of key economic policies on an economy explain, using economic theory, the general effects of macroeconomic and microeconomic policies on an economy Students learn about:…

ECONOMICS  Unit 4: Contemporary macroeconomics Topic 2: Economic management Sub-topic C: Supply-side policies describe the nature, operation and aims of aggregate supply policies (microeconomic reforms), and explain their relationship to domestic macroeconomic objectives analyse at least one recent supply-side policy aimed at improving Australia’s economic growth through efficiency or competitiveness, including at least one of the…

ECONOMICS Stage 2 Thinking Like an Economist Economic inquiry skills  Use an inquiring, critical, and thoughtful approach to their study of economics. Investigate scenarios and economic problems through: applying principles, models, and terminology appropriately in a variety of economic contexts  analysing the rationale for economic decisions and evaluating their intended and unintended consequences  communicating…