Economics of world | Course Paper

Economics

Stage 6

Syllabus

2009

Original published version updated:

April 2006 – Official Notice 3 May 2005 (Vol 14 No 2 BOS 20/05)

April 2000 – Board Bulletin/Official Notices Vol 9 No 2 (BOS 13/00)

June 2009 – Assessment and Reporting information updated

November 2009 – Official Notice BOS 47/09

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Material on p 5 from Securing Their Future © NSW Government 1997.

Published by

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Sydney NSW 2001

Australia

Tel: (02) 9367 8111

Internet: www.boardofstudies.nsw.edu.au

ISBN 978 174147 9331

2009708

Contents

1 The Higher School Certificate Program of Study 5

2 Rationale for Economics in the Stage 6 Curriculum 6

3 Continuum of Learning for Economics Stage 6 Students 8

4 Aim 9

5 Objectives 9

6 Course Structure 10

7 Objectives and Outcomes 11

7.1 Table of Objectives and Outcomes 11

7.2 Key Competencies 13

8 Content: Economics Stage 6 14

9 Content: Economics Preliminary Course 15

9.1 Preliminary Topic One – Introduction to Economics 15

9.2 Preliminary Topic Two – Consumers and Business 17

9.3 Preliminary Topic Three – Markets 20

9.4 Preliminary Topic Four – Labour Markets 23

9.5 Preliminary Topic Five – Financial Markets 26

9.6 Preliminary Topic Six – Government and the Economy 28

10 Content: Economics HSC Course 31

10.1 HSC Topic One – The Global Economy 31

10.2 HSC Topic Two – Australia’s Place in the Global Economy 34

10.3 HSC Topic Three – Economic Issues 36

10.4 HSC Topic Four – Economic Policies and Management 39

11 Course Requirements 42

12 Post-school Opportunities 43

13 Assessments and Reporting 44

1

Economics Stage 6 Syllabus

The Higher School Certificate Program of Study

The purpose of the Higher School Certificate program of study is to:

• provide a curriculum structure which encourages students to complete

secondary education;

• foster the intellectual, social and moral development of students, in particular

developing their:

– knowledge, skills, understanding and attitudes in the fields of study they

choose

– capacity to manage their own learning

– desire to continue learning in formal or informal settings after school

– capacity to work together with others

– respect for the cultural diversity of Australian society

• provide a flexible structure within which students can prepare for:

– further education and training

– employment

– full and active participation as citizens

• provide formal assessment and certification of students’ achievements

• provide a context within which schools also have the opportunity to foster

students’ physical and spiritual development.

5

2

Economics Stage 6 Syllabus

Rationale for Economics in the Stage 6 Curriculum

Economic decisions have a crucial influence on the quality of life experienced by

people throughout the world. The study of economics can help individuals, groups

and societies make choices that assist them to improve their quality of life.

As a subject, Economics Stage 6 is distinctive because of the range of problems and

issues that it investigates and the skills that it develops. A student who has

completed the Preliminary and HSC courses should have knowledge and skills

enabling them to:

• comprehend the background and implications of contemporary economic issues

• discuss appropriate policies to solve economic problems and issues

• understand what a change in interest rates, share values or the value of the

Australian dollar means to individuals and the economy

• identify fluctuations in the global and Australian economies and their likely effects

on business

• understand reasons for changes in employment patterns

• identify, using economic thinking, appropriate strategies to protect the natural

environment.

The discipline of economics has a theoretical basis and economists often debate the

relative merits of different theories when assessing economic issues and proposing

solutions to economic problems, including economic modelling.

Discussion of economic issues dominates the media and politics. By understanding

economics, students can make informed judgements about issues and policies and

participate responsibly in decision-making.

Students will benefit from the study of economics if they engage in studies that

include business, accounting and finance, media, law, marketing, employment

relations, tourism, history, geography or environmental studies.

If selected as a specialisation at university, economics can lead to careers in:

• share, finance or commodities markets

• business

• economic forecasting

• banking

• insurance

• tourism

• resource management

• property development and management

• government

• environmental management

• town planning

• foreign affairs or economic policy development.

6

Economics Stage 6 Syllabus

The study of Economics Stage 6 allows students to develop knowledge and

understanding, skills, attitudes and values using subject matter and methodology that

suit their interests. The course benefits students when they pursue further education

and training, employment and active participation as citizens.

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3

Economics Stage 6 Syllabus

Continuum of Learning for Economics Stage 6

Students

HSIE K–6

Stages 4–5

Mandatory History

Stages 4–5

HSIE Electives

Stages 4–5

Mandatory Geography