Year 11 Humanities - Economics

Introduction

Economics is the study of us. As economists, we study who we are, how we have created societies and the incentives that drive our actions. Each individual, group or nation is faced with a scarcity of resources. In economics, as an applied social science, students will gather information in order to outline possible solutions to this problem of scarcity. 

Course Outline

Year 11 Economics aims to create an understanding of the relationships between consumers and producers as they interact in the marketplace. Students will learn the underpinnings of the Demand and Supply model and use this tool to examine consumer, producer and government actions. 

Students will be introduced to the key economic concepts of scarcity, opportunity cost, interdependence and equilibrium. These concepts provide the foundation for study in Level 2, Level 3 and University Economics.  It is also an excellent one year course that provides general educational skills for everyday living.

This is a half year course and counts as one option course selection.