Students learn how an economy operates, the structure of economic systems and the way in which they function. Students develop an understanding of different economic systems and institutions, and can assess the degree to which these systems and institutions help satisfy people's needs and wants. They become aware that economic decisions are not value-free and have outcomes that may be inconsistent with social, moral, and ethical values.
Students research, analyse, evaluate, and apply economic models that are expressed in graphical and/or diagrammatic form. They make forecasts about economic change and evaluate issues for individuals and groups in local, national, and global settings.
Stage 1 subject code: 1EMS10 or 1EMS20
Credits: 10 or 20
Stage 2 subject code: 2EMS20
From 2017, the SACE Board will no longer select Stage 2 moderation samples for school assessed materials. Teachers will select the moderation sample.
Read more about moderation sample selection, including FAQs and an instructional video.