Year 11 Economics ATAR
Overview
The Economics ATAR course develops student learning through two content areas:
- Economic knowledge and understanding
- Economic skills.
Unit 1 - Microeconomics
This unit is an introduction to microeconomics and explores the role of the market in determining the wellbeing of individuals and society. Students explore the workings of real world markets with an emphasis on the Australian economy.
Unit 2 - Macroeconomics
This unit is an introduction to macroeconomics and explores economic growth, inflation and unemployment with an emphasis on the Australian economy. Students learn it is important to measure and monitor changes in these macroeconomic indicators as changes in the level of economic activity affect the wellbeing of individuals and society.
Topics
Unit 1 and Unit 2 are delivered concurrently.
Unit 1: The role and determination of price. Significance of Price elasticity. The concept of economic efficiency and the benefits of a free market. The causes and consequences of Market Failure. The role of the government in correcting Market Failure
Unit 2: The relationship between spending, output and income. Components of aggregate expenditure and the Circular Flow Model of Income. The concept of the Business Cycle and the macroeconomic issues of growth, unemployment, inflation and the Balance of Payments. The role of the government in a modified market economy. The taxation system and the economic objectives of the government. Identify and account for recent trends in inflation, unemployment, growth and the Current Account Deficit.
Assessments
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Weight
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Types of assessments
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Number of assessments
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30%
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Short answer
Types of assessment can include multiple-choice questions, definitions, one-word answers, short answer questions, paragraph answers that interpret economic data or information.
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Six assessments over the year. Set approximately every 4 weeks. Usually 50 minutes in duration.
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40%
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Long answer
Types of assessment can include essays, reports, extended answers to scenarios or case studies, investigations, research assignments, extended answers that interpret economic information or data outcomes.
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Six assessments over the year. Set approximately every 4 weeks. Usually 50 minutes in duration.
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30%
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Examination
A combination of both short answer and long answer items.
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Two exams. Held at the end of each semester. 2.5 hours in duration.
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Reporting
A grade will be assigned following the completion of the course unit.
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Grade
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Interpretation
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A
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Excellent achievement
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B
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High achievement
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C
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Satisfactory achievement
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D
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Limited achievement
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E
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Very low achievement
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Each grade is based on the student's overall performance for the course unit as judged by reference to a set of pre-determined standards. These standards are defined by grade descriptions.
Student Expectations/Homework
Students will be expected to complete approximately 2.5 hours homework each week. This time should be spent consolidating material covered in class and working through questions in their workbook.
