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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
The Board of Studies owns the copyright on all syllabuses. Schools may reproduce
this syllabus in part or in full for bona fide study or classroom purposes only.
Acknowledgement of the Board of Studies copyright must be included on any
reproductions. Students may copy reasonable portions of the syllabus for the
purpose of research or study. Any other use of this syllabus must be referred to the
Copyright Officer, Board of Studies NSW. Ph: (02) 9367 8111; fax: (02) 9279 1482.
Material on p 5 from Securing Their Future © NSW Government 1997.
© Board of Studies NSW 2009
Published by
Board of Studies NSW
GPO Box 5300
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.
7
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
