Stage 1 Economics
Length of Course
Level
Learning Area
Core or Specialist
Pre-requisites
Nil
Subject Description
At Stage 1, students study the four economics concepts of scarcity, choice, opportunity cost, and the cause and effect of economic decisions. They apply their learning of these concepts to authentic economic contexts to develop their understanding of the economic principles that underpin decision-making.
Economics enables us to analyse how the entire economy works and which issues are affecting it, including allocation of resources, inflation, economic growth, and government policies. Economics helps us tackle the most important issues facing humanity today.
By the end of this course, students will have developed an understanding of:
- Economic inquiry skills, knowledge and understanding of economic concepts, principles and models
- Apply economic thinking in a variety of scenarios
- Situations where a government takes action in an economy to modify market outcomes
Students will demonstrate evidence of their learning through the following assessment types:
- Media Analysis Task
- Research Essay
- Local Economic Project
Stage 2 Business Innovation
Pathways for Humanities and Social Sciences (HASS)
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