Year 11 QCE Assessment Booklet 2020

YEAR 11 ECONOMICS (QCE) SUBJECT OVERVIEW 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. In studying Year 11 Economics, students will learn about: markets and models, modified markets, and international economics YR 11 COURSE OUTLINE UNIT FOCUS 1. Markets and Models

In Unit 1, students understand how the fundamental economic concepts of scarcity, choice and opportunity cost compel individuals, businesses and governments to make decisions about how best to allocate resources among competing needs. The nature of the basic economic problem is examined, and the consequences of scarcity are expressed in the production possibility curve and through the choices made by modern economic systems. Students analyse the factors that impact on the economy through the circular flow of income model, In Unit 2, students explore the imperfections within markets and the economic concept that markets do not always deliver socially desirable or efficient outcomes. They investigate the causes and effects of market failure and the measures and strategies that may be used to modify markets in attempts to maximise economic and social well-being. Various market interventions are evaluated in terms of their effectiveness in minimising the short- and long-term consequences of markets not delivering socially optimal outcomes. In Unit 3, students focus on the complex ideas and relationships underlying the international economy and the impact that these have on Australia’s domestic economy and decision-making. Students consider Australia’s engagement in international trade and the global economy, including the theories behind trade and exchange rates. International economic issues involving trade barriers and the balance of payments are investigated from a theoretical and contemporary viewpoint and form the basis of student-led research.

2. Modified Markets

3. International Economics

YR 11 ASSESSMENT OVERVIEW

UNIT

TASK

ISSUE DATE

DUE DATE

1

Research Report (25 %)

Distributed WB 17 February

Final: 1 April Draft due 17 March WB 5 May (Exam Block)

1

Examination combination response Part A – short responses (25 %) Examination Combination response Part B – extended response (25 %)

2

Wednesday10 June (in class) during DOM’s double lesson Period 1 and 2. GJU’s class to do exam at same time. WB 24 August (Exam Block)

2

Extended response to stimulus examination (25 %)

3

To be assessed in Year 12

26