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Year 12 Economics ATAR

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 3 - Australia and The Global Economy
This unit explores 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.
Unit 4 - Economic Policies And Management
This unit explores the economic objectives of the Australian Government and the actions and policies taken in the pursuit of these objectives. Changes in the level of economic activity influence the policy mix and the government’s capacity to achieve its objectives.

Future Careers
Economics is important for careers in:

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