Australia · ACARA Content Descriptions
Year 10 Economics & Business
This course investigates how economic systems and business decisions shape living standards in Australia and the Asia region. Students analyze market behavior, government intervention, and the complexities of managing personal and national finances in an interconnected world.
The Price of Everything: Markets and Choices
An exploration of microeconomic principles focusing on how consumers and producers interact to determine prices and allocate scarce resources.
Students examine the laws of supply and demand and how they reach equilibrium in a competitive market.
Investigating why some goods see massive price swings while others remain stable despite changes in demand.
Analyzing situations where the market fails to allocate resources efficiently and the role of government correction.
Measuring the Nation: Macroeconomic Performance
An analysis of how the Australian government measures economic success and the indicators used to track national health.
Understanding Gross Domestic Product as a measure of national output and its limitations regarding well being.
Examining the different types of unemployment and the social and economic consequences of joblessness.
Analyzing the causes of inflation and how it erodes the value of money over time.
Managing the Economy: Policy and Power
Exploring the tools used by the Reserve Bank of Australia and the Federal Government to manage economic stability.
Investigating how the central bank uses interest rates to control inflation and support employment.
A look at government spending and taxation and how the federal budget influences economic activity.
Examining how the tax and transfer system aims to reduce inequality within the Australian economy.
The Global Connection: Trade and Integration
Analyzing Australia's place in the global economy and the impact of international trade and investment.
Understanding why nations trade and how specialization leads to global efficiency.
Exploring how the value of the Australian dollar is determined and how it affects exporters and importers.
Analyzing the complexity of modern production and the risks associated with global interconnectedness.
Business Innovation and Strategy
Focusing on how businesses respond to opportunities and threats in a competitive and changing environment.
Examining the characteristics of successful entrepreneurs and the role of innovation in business growth.
Identifying strategies businesses use to differentiate themselves and capture market share.
Investigating the ethical obligations of businesses beyond just making a profit.
Financial Literacy and Future Wealth
Equipping students with the skills to manage personal finances, understand investment, and plan for the future.
Understanding how savings and investments grow over time and the impact of starting early.
Comparing different types of investments including shares, property, and superannuation.
Developing strategies to identify financial risks and understanding rights under Australian Consumer Law.