Year 11 Economics Units 1 and 2
Overview
In this subject, you will learn to develop an economist’s view of the world. Economics looks at how consumers and business behave in a market economy and how they make decisions.
You will use case studies to develop knowledge and understanding of the nature, operation and role of markets. Economics also looks at economic growth and sustainable development. In the course, you will learn to evaluate policy actions in relation to this and consider impacts on our standard of living.
Finally, the course explores contemporary global economic issues and how the actions of decision-makers affect each issue.
Who is it for?
This subject will suit you if you enjoy exploring current social issues and learning to take an economic perspective on these. It also provides a good background for you if you are looking at commerce studies in the future.
What do you do?
You will:
- study of the diamond market
- analyse current media items
- complete a folio of applied exercises
- report on a developing country
- complete unit tests.
What skills do you need?
All you need is an interest in current social and economic issues.
What skills do you develop?
You will develop skills including:
- using a range of sources to acquire economic information and being able to sort and communicate this information
- defining key economic concepts and using them appropriately
- applying economic knowledge, concepts and theories to predict the effect of economic events on market outcomes
- applying decision-making to current economic problems within a specific market
- describing the nature of a contemporary economic issue and interpreting and analysing information about this issue
- explaining, using economic theory, how a range of aggregate demand side and aggregate supply side factors may influence this economic issue, then evaluating the impact on living standards.
Requirements
You must have access to the internet to access this course. All work will be completed and submitted online weekly. The recommended textbook is Key Concepts in VCE Economics 1, 11th edition.
Things to think about
To be a successful student in Economics you need to be interested in understanding the news and current affairs.
Things you can do now
Go to the VCAA website for more information about this subject.
Things to have a look at
Introduction to Economics
Watch this video to see if economics is what you think it is.
Economics and Game of Thrones
Economic problem: Introduction