Senior Economics
Linking
together
the Past,
Present
and Future
of Decision
Making
A four
semester
course for
Years 11
and 12
Its all about Decision-Making
Produced by the Queensland Economics Teachers Association (QETA)
Are you interested in ECONOMICS?
Do you have a curious mind?
Are you able to read and
comprehend written material?
Are you interested
in Decision-Making?
Have you been enjoying humanities, business,
or science subjects in junior high school?
Are you interested in money, wealth,
government or small business?
Do you want to develop a line
of inquiry and devote time to
Research?
Do you consider yourself capable
of working both independently and
in a group?
What is Economics?
Economics is more than just business studies, it is the study of the
interaction between households, businesses and the government. It helps you
to understand the decisions and actions of all of these entities in shaping the
distribution of income and wealth in your house, your country and the world.
Economics is thus about understanding why people around you behave in the
way that they do. Think about it this way - any decision that you have to make
in the course of your life is in a sense an economic decision: a trade off between
costs and benefits.
A Key Concept of Economics:
Production
Distribution
Goods and Services
Consumption
Economics – why study it?
Gain Knowledge and Understanding about decisions regarding employment,
investment, taxation, inflation, wages and salaries, saving and interest rates.
Economics offers flexibility in the choice of tertiary pathways you may
undertake - from careers as diverse as business, journalism, psychology,
engineering, medicine and health sciences.
• Much of what you learn in Senior
Economics will be of use to you as
a citizen, consumer, employer or
employee.
• Economics is a subject that is
relevant because it addresses
contemporary issues.
• You will learn about some of the
approaches that can be put into
place to solve local or world
problems such as unemployment
or extreme poverty.
Expand your Mind…
Critical
Thinking
Analysis
Communication
Categorising
Karma
Research
Your Decision
Making
Information
Group Work
What will you STUDY?
Study how individuals and
societies choose to use the
resources that nature and
previous generations have
provided.
Investigate issues
Inquire more deeply
Study societal and global
affairs concerning resource
allocation.
Economics in Year 11 and 12 – Course Outline:
Inquiry
Method
Core Units – One per Semester
 Circular flow of Income
 Contemporary Micro- economic
Issues
Contemporary Macroeconomic
Management
 International economics
You direct
Your learning
Learn about Economic models…
Profits/Wages
Is this an
ideal
economy?
Businesses
Flow of Wealth
People
Consumers
Investment
Tax
Savings
Banks
Government
Spending
Involve yourself in both Practical and
Theoretical Activities
Play share-market games - manage a portfolio
on the internet.
Computer simulations - manage the Australian Economy
Computer assisted learning - use Excel and Access…
Use critical thinking
and problem solving skills.
Excursions: eg. universities,
stock exchanges, factories.
Analyse the viewpoints of
speakers from trade unions, banks
Clarify and justify
your views on taxes,
& governments.
multi-nationals, welfare…
Course Outline – Elective Units
Your Economics Teacher will choose Four to Six units from the list below to
work in with your core units in Year 11 and 12:
• Personal economics
• Systems and
• Finance
• Industry and Market
•
•
•
•
•
•
•
•
development
Environmental
economics
Income and expenditure
analysis
Distribution of income
and wealth
Globalisation and Trade
Concentration
Share market
Population
Economic development
School based inquiry e.g.
tourism, transport, sport,
small business…
Assessment
Individual Assessment
Examples: Calculations, short response
item exams, response to stimulus
exams, essays, practical exercises…
Group Assessment
Examples: Oral, video,
computer, research
assignments…
Your Year 11 work will be formative, (meaning it won’t be added towards your
Senior certificate). This gives you the chance to train up your skills in Economics
before facing summative assessment in Year 12.
Your Assessment in Economics is based on FOUR criteria:
1. Knowledge and understanding: facts, concepts.
2. Investigation: selecting, examining and analysing data.
3. Synthesis and Evaluation: appraising and communicating economic ideas
JOB SKILLS
Oral communication Skills
An ability to think logically
Research Skills
Computer literacy
Internet
research skills
Written communication skills
Understanding of political and economic
affairs and issues of the World
CAREER PATHS!
•
•
•
•
•
•
•
•
Economist
Banker
Lawyer
Loan Officer
Shares Trader
Business Owner
Financial Analyst
Statistician
•
•
•
•
•
•
•
•
Cost Analyst
Broker
ASIO Employee
Demographer
Market Research
Analyst
Tax Agent
Journalist
Teacher
What is that Job Anyway?
With Economics training you may end up in a variety of occupations:
The Private sector: banking, insurance, stockbroking, marketing, small business
and primary industry
Government: the Treasury, foreign affairs, intelligence, trade
International: the World Bank, IMF, the UN, multinational companies
General: accounting, law, engineering, architecture, business management
But, what do these jobs actually mean? Here are some examples:
Economist: someone who advises on economic policy, in areas such as industry,
government and finance.
Shares Trader: a professional who buys and sells shares (ownership of part of a
company) and bonds (a secure loan) in stock and commodity markets.
Financial Analyst: someone who analyses the accounts and the economic prospects of
a company or firm.
Find out more about Senior
Economics…
Speak with an
Economics teacher
View relevant sites on
Talk to your careers
counselor
Eg. 1: UQ School of Economics:
http://www.uq.edu.au/economics/
Ask current Economics
Eg.2: QUT School of Economics
the internet:
students what it is like…
http://www.bus.qut.edu.au/schools/economics/
Contact economists in
universities, businesses, &
Eg.3: Austrade
governments...
http://www.austrade.gov.au/