Economics Level 6 (Years 9 and 10)
Learning focus
As students work towards the achievement of Level 6 standards in Economics, they develop their understanding of how the Australian economy is managed, particularly within the international economic context. They analyse how macroeconomic and microeconomic policies and programs advanced by governments and other institutions affect them and their fellow citizens. They examine the role of exchange, trade and globalisation in influencing Australia’s standard of living. They develop an understanding of enterprise attributes and skills, and describe the impact of innovation and enterprise on the economy and society.
Students investigate the relationship between economic growth, ecological sustainability and the standard of living, and explore what it means to be an ethical producer and consumer. They begin to reflect on the role of values in the economic decision making of producers, consumers and governments.
They develop skills in using economic reasoning, including cost-benefit analysis, to research economic issues and propose solutions for economic problems of global significance. They research economic problems and argue the validity or otherwise of their own hypotheses. Economic problems could include examples such as why the price of a can of soft drink varies depending on where it is sold; whether welfare is a right or a privilege; and whether tolls should be charged on new freeways. Such research assists students in understanding, clarifying and justifying values and attitudes about issues affecting the economy, society and the environment.
Students extend their personal financial literacy skills and understanding about the role of savings and investment. They examine vocational pathways and education and training requirements, considering possible work and career options. They develop skills and strategies for transition to employment and further education and training, including job seeking, job application and interview skills.
Standards
Economic knowledge and understanding
At Level 6, students describe how markets, government policies, enterprise and innovation affect the economy, society and environment in terms of employment, economic growth, the use of resources, exports and imports, and ecological sustainability.
They analyse how goods and services are produced and how markets work. They predict how prices will change when there is either a surplus or shortage, and explain how this might influence the behaviour of consumers and producers. They analyse the role and significance of exchange, trade and globalisation in influencing Australia’s standard of living. They discuss and explain what it means to be an ethical consumer and producer and identify examples of ways values can affect the economic decision making of consumers, producers and governments.
Students analyse the role that governments and other institutions such as banks, the Australian Council of Trade Unions (ACTU) play in the economy, and evaluate their performance in achieving appropriate economic outcomes for individuals and for society. They explain the role and significance of savings and investment for individuals and for the economy, and demonstrate the skills required to successfully plan and manage personal finances.
Students predict the economic consequences of proposed government policies and make informed choices among alternative public policy proposals. Students explain the impact of macroeconomic and microeconomic policies on themselves and others, including businesses.
Students analyse vocational pathways and education and training requirements and identify possible career paths and opportunities. They demonstrate skills required for moving from school to employment or further education.
Economic reasoning and interpretation
At Level 6, students use economic reasoning, including cost-benefit analysis, to research and propose solutions to economic issues and problems of global significance, and to clarify and justify values and attitudes. They plan and conduct investigations in order to research an economic problem and/or argue the validity or otherwise of their own hypotheses. They use relevant economic concepts and relationships to evaluate economic propositions, proposals and policies, and debate the costs and benefits of contentious economics-related issues of local, national or international concern.
Students interpret reports about current economic conditions, both national and global, and explain how these conditions can influence decisions made by consumers, producers and government policymakers. Students demonstrate an awareness of the impact of values and beliefs on economic issues, and how differences may be identified, negotiated, explained and possibly resolved.
Downloads
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The Humanities − Economics booklet (
PDF - 262KB) - The Humanities − Economics standards table (Doc - 37KB)
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Victorian Essential Learning Standards Level 6 ( PDF - 788KB)
