Economics (A/T)

students at Gungahlin College

Course information

The Economics course is primarily concerned with economic literacy, which involves understanding the economic forces which underlie major political and social issues. By studying Economics, students will be better equipped to make considered judgements as workers, consumers, taxpayers and voters. Emphasis is placed on developing a continuing interest in and an understanding of, the contemporary economic issues facing Australia and the world, e.g. inflation, interest rates, taxation, unemployment, balance of payments, economic growth, economic development, environmental issues and globalisation.

Our students who study Economics learn how individuals, groups and nations use limited resources to satisfy unlimited wants. It is an academic subject and suits students who enjoy thinking and suggesting solutions to problems on a local, national and international level.

Post-school pathways

Do you enjoy or are you good at Economics? (pdf, 110kb)

Do you enjoy or are you good at Social and Behavioural Sciences? (pdf, 110kb)

Workload expectation

Social and Behavioural Science subjects require regular and consistent revision of course content as well as detailed planning and research for assessment tasks outside of class time  in order to receive outstanding results.

Course pattern

Available as a Minor or Major (Students can complete a minor in Economics and combine with units from Accounting and\or Business to obtain a major in Commerce. A major in Economics will be offered if there are sufficient student numbers).

Suggested Minor course

Semester

Unit

1

Economics 1

2

Economics 2

Suggested Major course

Semester

Unit

1

Economics 1

2

Economics 2

3

Economics 3

4

Economics 4

Unit descriptions

Economics 1: Introduction to Economics

This introductory unit has a broad overview of basic economic principles. It explores concepts such as supply and demand, scarcity and the role of individuals, firms and government in the economy.

Economics 2: Macroeconomic Theories and Issues

This unit explains various economic models looking at the influence of the government and financial sectors. It explores concepts such as economic growth, the business cycle, inflation, unemployment and their interrelationships.

Economics 3: Globalisation and Trade Economics

This unit examines the key features of globalisation and the main components of the global economy - free trade, protection, effects of the environment, ecological and geographic phenomena. We look at why the value of the Australian dollar changes and how it impacts on the economy and the individual.

Economics 4: Development and Population Economics

Development economics examines the indicators of economic development, strategies for economic growth and development and the role international organisations play in assisting less developed countries. Population economics examines population changes and their economic impacts. Case studies are used to analyse the impacts of government policies on population growth and economic sustainability.