ECONOMICS GENERAL COURSE
Unit 1: Personal economic and financial decisions
Economic knowledge and understanding
- identify trends and relationships in economic or financial information and data, such as comparative investment returns from different portfolios and income distribution
- apply economic reasoning to inform personal economic and financial decisions
- use evidence found in economic information and data to justify a conclusion.
Communication
- select and use appropriate terminology
- select and use appropriate formats when communicating economic understandings.
Unit 4 – Macroeconomics
Economic knowledge and understanding
Income distribution
- the concepts of income and wealth
- how the Lorenz curve represents inequality in the distribution of income and wealth.
Economic research
- apply problem-solving, critical thinking and decision-making strategies to achieve outcomes which may be predictable and contestable by nature.
Reasoning, interpretation and analysis
- identify trends and relationships in economic information and data on the macroeconomy
- use evidence found in economic information and data to justify a conclusion.
Communication
- use economic models to convey economic theory and reasoning about macroeconomic issues and events.
ECONOMICS ATAR COURSE
Unit 2 – Macroeconomics
Economic knowledge and understanding
Income distribution
- the concepts of income and wealth
- how the Lorenz curve represents inequality in the distribution of income and wealth.
Economic research
- apply problem-solving, critical thinking and decision-making strategies to achieve outcomes which may be predictable and contestable by nature.
Reasoning, interpretation and analysis
- identify trends and relationships in economic information and data on the macroeconomy
- use evidence found in economic information and data to justify a conclusion.
Communication
- use economic models to convey economic theory and reasoning about macroeconomic issues and events.