VCE Economics
Subject Overview
Economics explores how resources are used to fulfill society’s needs and desires, revealing why people make certain choices and the outcomes of those decisions. Studying Economics helps students understand important issues that impact them as individuals and society members. It equips them with valuable insights for informed decision-making and active participation in public discussions. Economics also provides essential skills and knowledge for pursuing further studies in business, accounting, and commerce.
Unit 1 & 2
In Unit 1 & 2 you will:
- Understand the basic economic problem of scarcity and factors affecting economic decision-making
- Learn how market-based system allocates resources
- Study behavioural economics
- Study economic activity
- Explore economic issues of Distribution of Income and Wealth and Australia’s International Trade
Unit 3 & 4
In Unit 3 & 4 you will:
- Investigate microeconomics
- Explore Australia’s domestic macroeconomic goals
- Consider international trade
- Investigate aggregate demand policies: Budgetary and Monetary policies
- Investigate Australia Government aggregate supply policies
Types of Assessment
- Structured questions
- Folio of applied exercises
- Market case study
- School social experiment
Class Activities
- Apply economic concepts and terminology
- Apply economic theory to make predictions
- Interpret and analyse economic data
- Construct, interpret and apply economic models and graphs
- Analyse the effects of government policies
- ASX Schools Share Market Game
Careers that may link to this subject area
- Actuary
- Banking
- Business Analyst
- Credit Analyst
- Commerce Teacher
- Corporate Manager
- Economist
- Financial Planner
- Government Sector
- Lawyer
- Policy Analyst
- Politician
- Property Market
- Property Valuations
- Stockbroker
- Town Planning