Australia · ACARA Content Descriptions
Year 9 Economics & Business
This course explores the role of consumers, businesses, and governments in the Australian economy. Students analyze market behavior, financial risks, and the impact of globalization on local and global prosperity.
The Price of Choice: Scarcity and Markets
An investigation into how the basic economic problem of scarcity forces individuals and nations to make trade-offs within the market system.
Understanding how limited resources and unlimited wants create the necessity for choice and opportunity cost.
Exploring the interaction between buyers and sellers and how price signals coordinate economic activity.
Analyzing the power of consumers to determine what goods and services are produced through their spending patterns.
Business Innovation and the Workplace
Examining how businesses seek competitive advantages and the changing nature of work in a digital economy.
Identifying strategies businesses use to differentiate themselves and capture market share.
Analyzing how automation, gig work, and technology are reshaping employment opportunities.
Exploring the characteristics of successful entrepreneurs and the risks involved in starting a venture.
Managing Money: Personal Finance
Equipping students with the tools to manage income, understand credit, and avoid financial pitfalls.
Developing practical skills for tracking expenses and setting long-term financial goals.
Evaluating different types of credit and the implications of high-interest borrowing.
An introduction to shares, property, and superannuation as methods for wealth creation.
The Global Connection
Investigating how Australia integrates into the global economy through trade and international agreements.
Understanding why nations trade and how specialization leads to increased global efficiency.
Tracing the path of products across borders and the complexity of modern manufacturing.
Analyzing challenges like protectionism, trade wars, and global wealth inequality.
Measuring Success: Macroeconomics
Examining how the performance of the national economy is measured and the impact of economic growth.
Defining Gross Domestic Product and its limitations as a measure of national well-being.
Exploring the causes and effects of price changes and joblessness in the economy.
Understanding the fluctuations of economic activity between boom and recession.
Government and the Economy
Analyzing the role of the Australian government in managing the economy and providing public goods.
Investigating how the government collects revenue and redistributes it to provide services.
Examining instances where the market fails to allocate resources efficiently, such as pollution.
Reviewing the main goals of Australian economic policy, including full employment and price stability.