SSEC18.1.1 SA mapping

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 reasoned arguments and evidence-based recommendations.

Data analysis 

  • Understand a range of qualitative and quantitative economic data. 
  • Use data to understand economic activity, the behaviour of people, businesses, markets and governments. 
  • Use appropriate graphs, diagrams, and tables to display results and make recommendations based on their data analysis. 
  • Understand economic modelling. (Note: students are not required to calculate the coefficient of determination (r-squared), or linear equations).

Microeconomics 

  • Evaluate the measures taken to redress undesirable market outcomes. 
  • Analyse and evaluate the consequences of subsides and taxes on markets government interventions on markets.