Australia · ACARA Content Descriptions
Year 12 Economics & Business
This course investigates advanced economic theories and their application to contemporary Australian and global contexts. Students analyze how resource allocation decisions impact living standards and evaluate the effectiveness of government interventions in managing economic stability.
Market Dynamics and Resource Allocation
Explores the microeconomic foundations of supply, demand, and the price mechanism in Australian markets.
An analysis of how markets clear and how shifts in consumer preferences or production costs change price signals.
Investigates the responsiveness of demand and supply to changes in price and income.
Examines situations where the market fails to allocate resources efficiently, such as pollution or public goods.
Macroeconomic Management and Stability
Focuses on the measurement of economic performance and the objectives of the Australian government.
Analyzes the drivers of Gross Domestic Product and the distinction between material and non-material well-being.
Examines the causes and consequences of price instability on the Australian economy.
Investigates types of unemployment and the social and economic impact of joblessness.
Economic Policy Mix
Evaluates the use of Budgetary and Monetary policy to manage aggregate demand.
Detailed study of how the Reserve Bank of Australia uses interest rates to influence economic activity.
Analyzes the Australian Federal Budget and the use of stabilizers to manage the business cycle.
Examines microeconomic reforms and infrastructure investment to increase productive capacity.
Australia and the Global Economy
Investigates international trade, the balance of payments, and the impact of globalization.
Evaluates the arguments for and against trade barriers and the role of comparative advantage.
Examines the Current Account and Capital Account and their relationship to the exchange rate.
Analyzes the factors influencing the value of the Australian Dollar and its impact on trade.
Personal Finance and Wealth Management
Equips students with the tools to manage individual financial risk and understand investment markets.
Explores different asset classes including shares, property, and superannuation.
Investigates Australia's compulsory retirement savings scheme and its economic impact.
Economic Systems and Global Issues
Compares different economic models and addresses global challenges like inequality and climate change.
Contrasts market-based economies with planned or mixed economic systems.
Analyzes the economic impact of environmental degradation and the cost of mitigation.
Examines the widening gap between developed and developing nations and potential solutions.