Year 10 Subject Guide 2020

ECONOMICS

Year 10 MYP

Subject Outline Economics encourages students to think deeply about the global challenges facing individuals, business and government, including how to allocate and distribute scarce resources to maximise well-being. Students develop knowledge and cognitive skills to comprehend, apply analytical processes and use economic knowledge. They examine data and information to determine validity and consider economic policies from various perspectives. They use economic models and analytical tools to investigate and evaluate outcomes to draw conclusions. Students study opportunity costs, economic models and the market forces of demand and supply. They dissect and interpret the complex nature of international economic relationships and the dynamics of Australia’s place in the global economy. They develop intellectual flexibility, digital literacy and economic thinking skills. Pathways Economics articulates to the following Year 11 and 12 QCCA Senior Programme or the International Baccalaureate Diploma Programme in Year 11 2019:  As part of the Queensland Certificate of Education: - Economics

Why study this subject Economics is the science of resource allocation. Resource allocation is a skill used by all people, businesses and governments in their everyday activities. For example, a business needs to decide if they should allocate their $80000 cash at bank resource to hire a new staff member or spend the $80000 on advertising to increase sales. Economics provides people, businesses and governments with the framework and systems to help make the best decisions in these everyday situations. Economics is suitable to students who would like to gain a broad understanding of their role as citizens, as consumers, as workers, wealth builders and as creative participants in the community. The course is divided into a series of units which offer preparatory studies towards Year 11 and 12 subjects with an emphasis on current issues, local, national and global issues. MYP Objectives The aims of the teaching of Economics are to encourage and enable students to:  appreciate human and environmental commonalities and diversity  understand the interactions and interdependence of individuals, societies and the environment  understand how both environmental and human systems operate and evolve  identify and develop concern for the well-being of human communities and the natural environment  act as responsible citizens of local and global communities  develop inquiry skills that lead towards conceptual understandings of the relationships between individuals, societies and the environments in which they live.

As part of the IB Diploma Programme: - Economics

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Studying Economics prepares students for Economics, Business, Accounting, Commerce, Finance, Tourism and Law at university.

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