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 to:
Examine economic issues
- examine how the operation of the free market without government intervention might affect the distribution of income, quality of life of individuals and the management of the environment
- evaluate the impact of different taxes on the distribution of income and wealth on business and on the allocation of resources in the economy.
Economic functions of the Australian Government
- redistribution of income – progressive, regressive and proportional taxes, social welfare payments.