Economics

What Is Economics About? What Will I Study? How Will I Be Assessed? What Skills Will I Be Assessed On?

What Is Economics All About?

 
Economics is a type of social science. Studying Economics will help you understand how the world works. It is a core subject in Business Management degrees.

Economics is how people make choices about how to use scarce resources to improve their standard of living.

The course will use what is happening in the community as examples of economic problems to which solutions must be found.


Some of what you will do is to:

  • carry out an indepth study on Gladstone's industrial development and the impact it has on the community
  • look at the environment from an economic perspective eg the impact the new army base at Shoalwater Bay will have, or how changes to fishing zones on the Reef have affected the local economy
  • consider why Generation X is developing a resentment towards baby Boomers
  • study the Stock Market and play the ASX share market game
  • consider government policy in trying to improve peoples lives eg does welfare improve or hinder people's lives or do Australians pay too much tax
  • find out how globalisation is affecting your life.

You already have lots of economic knowledge but just aren't aware of it yet!

 

What Will I Study?

 

Topics in the course are:

2005
Environmental Economics
Contemporary economic Management
Comparative Economic Systems
International Economics
Economics of Trade

2006
Circular FLow and the Price Mechanism
Stock Market
The Economics of Industry
The Economics of Labour
Population

 

How Will I Be Assessed?

 
In Year 11 there are six assessment items:
1. A 400 word essay where you know the question begorehand.
2. A 400 word essay where you do not know the question beforehand.
3. Two tests - multiple choice, matching, comprehension, short answer.
4. An 800 word research project completed mostly in class time.
5. A 5 - 10 minute oral presentation using the lecture theatre.

In Year 11 the assessment is Formative, allowing exposure to and practice in the various forms of assessment.

In Year 12 the assessment program is repeated but all items will be Summative, that is, the grades will be used to calculate your exit Level of Achievement.

 

What Skills Will I Be Assessed On?

 
  • Your knowledge of major facts, concepts, key ideas and principles associated with each topic.
  • your ability to interpret when you comprehend and analyse solutions to problems using the knowledge you have gained on the topic.
  • our ability to demonstrate decision making when deciding how to best solve an economic problem.
  • your research and communication skills will be judged on how well you gather and record data and information and then present it. You will need to be able to use economic terms in your communication of ideas.

 

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