Economics investigates the choices which 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 well-being. Economics develops the knowledge, reasoning and interpretation skills that form an important component of understanding individual, business and government behaviour at local, national and global levels.
The Economics ATAR course encompasses the key features that characterise an economist’s approach to a contemporary economic event or issue: the ability to simplify the essence of a problem; to collect economic information and data to assist analysis and reasoning; to think critically about the limits of analysis in a social context; and to draw inferences that assist with decision-making, the development of public policy and the improvement in economic well-being.
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 that surround the complex range of economic events and issues facing our community, such as unemployment, income distribution, business strategy and international relations.
Economic literacy developed through this course enables students to actively participate in economic and financial decision-making, which promotes both individual and societal wealth and well-being.