Economics is the social science of decision-making, enabling us to find options about how to manage and use resources, whether it be on a personal, community, national or international level. In our daily lives we are required to make choices having considered the costs and benefits of the alternatives. Economics is a blend of theory and practice and gives us an appreciation of important issues, particularly at a big picture level.
Economics is a popular course, with over half the students in Years 11 and 12 studying the subject. A strong emphasis is placed on students developing effective interpretive skills through the critical analysis of current economic data and media sources. Over the two year course, students investigate a range of contemporary economic issues in order to make carefully considered decisions. These issues might typically include:
- the best choices to make in purchasing a second hand car or compiling a share portfolio
- the determination of minimum wages in the labour market
- the winners and losers in the community as a result of the annual federal budget or an international trade agreement
- the costs and benefits of health or infrastructure decisions
- the best way to implement a carbon trading scheme to reduce the impact of economic growth on the environment
- the optimum business structure for airlines and retail chains.
With its focus on the microeconomics of markets and macroeconomic issues such as inflation, foreign debt, taxation and international trade, a study of economics will assist students in making the transition from school to the wider world.
Furthermore, an understanding of economic principles and institutions is foundational for any career in commerce, as well as providing valuable background knowledge for tertiary study in the areas of business, accounting and law.
The Head of Economics is Ms Kate Stevenson
T +61 7 3834 5269