Learn, Challenge, Create.
About:
How do people, businesses and the government make choices about how to spend money? All groups within society are faced with unlimited wants and limited resources. Choices have to be made. Economics is the study of how individuals, groups, and nations manage and use resources so that society can be improved.
At Aldridge:
Economics is part of the Humanities curriculum all students study in Years 7 to 9. In Year 9 students have the opportunity to select Economics in Term 4 of Humanities for a focused unit of Economics. Students are then able to select to study Economics in senior school.
We are the only school in the Fraser Coast to offer Economics in senior school.
Why study Economics?
Economics is the study of how society uses scarce resources in the most efficient way. Economics aims to understand and analyse the allocation, utilisation and distribution of scarce resources that determine our wealth and wellbeing. Economics covers the study of individuals, households, firms, government and international economic institutions as they attempt to make better use of scarce resources.
Pathways:
Economics is a widely respected field of study and provides an alternative to an Accounting and Finance degree as it offers similar career opportunities for graduates. You could work in job roles within a range of industries, such as:
- Banking
- Finance
- Accountancy
- Business
- Government
- Consultancy
Units of study:
Years 10 and 11
UNIT
| NAME
| DESCRIPTION
|
Unit 1: Markets and Models | Topic 1: The Basic Economic Problem | Students understand how the economic concepts of scarcity, choice and opportunity cost compel individuals, businesses and governments to make decisions about how best to allocate resources among competing needs. |
Unit 1: Markets and Models | Topic 2: Economic Flows And Market Forces | Students analyse the factors that impact on the economy through the circular flow of income model, and investigate the price mechanism as a model for the efficient allocation of resources. |
Unit 2: Modified Markets | Topic 1: Market and Efficiency | Students explore the imperfections within markets and the economic concept that markets do not always deliver socially desirable or efficient outcomes. |
Unit 2: Modified Markets | Topic 2: Case options of market measures and strategies | Student investigate the causes and effects of market failure and the measures and strategies that may be used to modify markets in attempts to maximise economic and social well-being. |
Year 12
UNIT
| TIME
| NAME
| DESCRIPTION
|
Unit 3: International Economics | | Topic 1: The Global Economy
| Students focus on the complex ideas and relationships underlying the international economy and the impact that these have on Australia's domestic economy and decision-making. |
Unit 3: International Economics | | Topic 2: international Economic Issues | Students consider Australia's engagement in international trade and the global economy, including the theories behind trade and exchange rates. International economic issues involving trade barriers and the balance of payments are investigated from a theoretical and contemporary viewpoint, and form the basis of student-led research. |
Unit 4: Contemporary Macroeconomics | | Topic 1: Macroeconomic Objectives and Theory | Students concentrate on the practical application of the Australian Government's domestic macroeconomic objectives. |
Unit 4: Contemporary Macroeconomics | | Topic 2: Economic Management | Available policy instruments are analysed and evaluated in order to draw conclusions or make decisions about the relevant policy mix with reference to the current economic climate. |