Economics

Course summary

In Year 12 you will examine why all societies must make choices due to the economic problem of scarcity, and then go on to investigate how the forces of demand and supply and governments can determine what goods and services are produced and consumed. Furthermore, you will analyze the bigger issues of unemployment, inflation and economic growth. In Year 13 you will develop a deeper understanding of how the forces of demand and supply work, and why markets can fail to produce desirable outcomes. Additionally, you will gain a critical understanding of why countries trade, the financial sector and the causes and constraints of economic development.