Length: Full Year
Recommended background: Successful completion of Stage 1 Business and Economics
Note: The areas of Business and Economics challenge students to apply sophisticated economic and business thinking to contemporary issues that shape local, national and global communities. Students deepen their understanding through one of two specialised pathways: Business Innovation or Economics. Both pathways emphasise inquiry, critical analysis, ethical decision-making and evidence-based reasoning while preparing students for tertiary study, employment and entrepreneurial opportunities. Students investigate complex real-world challenges through authentic case studies, contemporary research and independent inquiry. They analyse competing perspectives, evaluate evidence and develop innovative solutions to economic and business problems. Learning experiences encourage students to think strategically, communicate persuasively and apply theoretical knowledge to dynamic and evolving contexts. Throughout the course, students strengthen their capabilities in critical and creative thinking, collaboration, communication, research and financial literacy. They develop independence as learners while demonstrating initiative, resilience and reflective practice. Stage 2 Business and Economics equips students with the analytical skills and confidence required to participate effectively as informed citizens, consumers, employees, entrepreneurs and future leaders. Students select the pathway that best aligns with their interests, strengths and future aspirations.
Content:
Stage 2 Economics develops students’ understanding of how economic systems influence decision-making, resource allocation and living standards within Australia and the global economy. Students investigate how governments, businesses and individuals respond to changing economic conditions while evaluating policies designed to promote efficiency, equity and sustainable economic growth.
Students apply advanced economic reasoning to analyse contemporary issues including inflation, unemployment, productivity, international competitiveness, environmental sustainability, inequality and global economic integration. They interpret quantitative and qualitative data, apply economic models and evaluate the effectiveness of macroeconomic and microeconomic policies using evidence from Australian and international contexts.
Learning is inquiry-based and grounded in authentic economic investigations. Students critically examine current economic events, analyse statistical data, evaluate policy alternatives and synthesise evidence from multiple sources. They develop the capacity to recognise the assumptions and limitations of economic models while appreciating the complexity of decision-making in modern economies.
Through independent research and collaborative inquiry, students construct well-reasoned economic arguments that demonstrate sophisticated analysis, critical evaluation and evidence-based judgement. They communicate using appropriate economic terminology, quantitative evidence and contemporary case studies while considering the broader social, ethical and environmental implications of economic decisions.
Assessment:
Student achievement is assessed using the Performance Standards described in the SACE Stage 2 Economics Subject Outline.
School Assessment (70%):
External Assessment (30%):