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Stage 2 | Subject outline | version control

Economics Stage 2
Subject outline

Version 4.0
For teaching in Australian and SACE International schools from January 2024 to December 2024. For teaching in SACE International schools only from May/June 2023 to March 2024 and from May/June 2024 to March 2025. Accredited in August 2018 for teaching at Stage 2 from 2021.

Stage 2 | Subject outline | Assessment design criteria

Assessment design criteria

The assessment design criteria are based on the learning requirements and are used by:

  • teachers to clarify for the student what they need to learn
  • teachers and assessors to design opportunities for students to provide evidence of their learning at the highest possible level of achievement.

The assessment design criteria consist of specific features that:

  • students should demonstrate in their learning
  • teachers and assessors look for as evidence that students have met the learning requirements.

For this subject the assessment design criteria are:

  • understanding
  • application
  • analysis and evaluation.

The specific features of these criteria are described below.

The set of assessments, as a whole, must give students opportunities to demonstrate each of the specific features by the completion of study of the subject.

Understanding   

The specific features are as follows:

U1 Understanding of economic concepts, principles, and models.

Application

The specific features are as follows:

A1 Application of economic concepts, principles, and models in a variety of contexts.
A2 Application of communication skills in economic contexts.
A3 Application of economic thinking to construct arguments and make recommendations.

Analysis and Evaluation

The specific features are as follows: 

AE1 Analysis of a range of data and other information using economic concepts, principles, and models.
AE2 Analysis and evaluation of the intended and unintended consequences of economic decisions.