This book is a Study Guide designed to help students meet the requirements of the WACE Economics ATAR Course Year 12 syllabus.
Economics is one of a number of human or social sciences whose aim is to investigate, understand and predict human behaviour. The central theme of economics is how societies go about raising the material standard of living or wellbeing of their members given a limited supply of resources.
The Year 12 syllabus is divided into two units; Unit 3 is titled Australia and the Global Economy and Unit 4 is titled Economic Polices and Management.
The focus of the Australia and the Global Economy unit is the interdependence of Australia and the rest of the world. Australia is a relatively open economy and, as such, is influenced by changes in the world economy. The main topics in the unit are globalisation, trade liberalisation and protection in relation to the Australian economy, Australia’s pattern of trade, the recording of international transactions and the impact of these transactions on the Australian economy. Recent (the last ten years) and contemporary (the last three years) economic data and appropriate economic terminology, theories and models are used throughout the unit.
The themes of the Economic Policies and Management Unit are the economic objectives of the Australian Government and the fiscal policy, monetary policy and economic reform measures taken to achieve these objectives. Changes in the level of economic activity influence the policy mix and the government’s capacity to achieve its objectives. Recent (the last ten years) and contemporary (the last three years) economic data and appropriate economic terminology, theories and models are used throughout the unit.
Three general outcomes
- Outcome 1 – Economic Inquiry: Students will be able to find and use economic information to show they understand economic events, issues and decisions, using appropriate economic terms, concepts and models
- Outcome 2 – The Operation of the Economy: Students will develop an understanding of the key factors that affect the way the economy operates and the consequences of economic choices.
- Outcome 3 – Economic Policy and Action: Students will be able to explain how Government intervention affects the performance of the economy.
|Product Type||Student Books,|
|Year Level||Year 12,|
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