The shaded area indicates a University Pathway.

Rationale
The Economics ATAR course encompasses the key features which characterise an economist’s approach to a recent economic event or issue: to simplify the essence of a problem; to collect economic information and data to assist analysis and reasoning; and to draw inferences, which assist decision-making, the development of public policy and improvement in economic wellbeing.

The Economics ATAR course develops reasoning, logical thinking and interpretation skills demanded by the world of work, business and government. These skills relate to a variety of qualifications in vocational, technical and university education contexts. The learning experiences available through studying this course explore the knowledge, values and opinions, which surround the complex range of economic events and issues facing our society, including market efficiency, market failure, gains from trade, the business cycle and economic policy.

Course Overview
Economics investigates the choices that all people, groups and societies face as they confront the ongoing problem of satisfying their unlimited wants with limited resources. Economics aims to understand and analyse the allocation, utilisation and distribution of scarce resources that determine our wealth and wellbeing. Economics develops the knowledge, reasoning and interpretation skills that form an important component of understanding individual, business and government behaviour at the local, national and global levels. Economic literacy developed through this course enables students to actively participate in economic and financial decision‐making, which promotes individual and societal wealth and wellbeing.

Course Description
This syllabus is divided into two units.

Unit 1 - Microeconomics
This unit is an introduction to microeconomics and explores the role of the market in determining the wellbeing of individuals and society. Students explore the workings of real world markets with an emphasis on the Australian economy.

Unit 2 - Macroeconomics
This unit is an introduction to macroeconomics and explores economic growth, inflation and unemployment with an emphasis on the Australian economy. Students learn it is important to measure and monitor changes in these macroeconomic indicators as changes in the level of economic activity affect the wellbeing of individuals and society.

Future Careers
Economics is important for careers in:

• Business
• Finance
• Accounting
• Law
• Education
• Government

Retrieved from: School Curriculum and Standards Authority. 29 June 2023.