• Length of Study: One Semester
• Number of SACE Credits: 10

Subject Overview

Economics helps us make sense of the world by exploring how people use limited resources to meet their unlimited needs and wants. Every time you buy something, go to work, or even decide what to study, you’re making an economic decision. Multiply that by millions of people doing the same every day, and you start to see how those choices shape our economy - and our society. In Economics, you’ll learn to look at the world differently. You’ll explore how individuals, businesses, governments, and the environment all interact, and how these interactions affect everything from prices and jobs to policies and global challenges like inflation or economic inequality. It is not just about money - it is about understanding the bigger picture and making smarter choices. Economics gives you the tools to think critically, ask the right questions, and make informed decisions in your everyday life and future career. At Stage 1, students focus on four key economic concepts: scarcity, choice, opportunity costs, and cause and effect. These are applied to real-life contexts to explore the economic principles behind decision-making.

Students undertake study in Stage 1 Economics through a combination of the following topics:

• Thinking like an Economist
• Share Market
• Trade in the Global Economy
• Markets in Action
• Economic Decision Making

Assessment

Year 11 Assessment is comprised of 100% school-based assessment. Students demonstrate evidence of their learning through the following assessment types:

• Assessment Type 1: Folio (60%)
• Assessment Type 2: Economic Project (40%)

Examination:

• This subject has a 130 minute examination at the end of the semester.