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Senior Economics

Senior Economics. Linking together the Past, Present and Future of Decision Making. A four semester course for Years 11 and 12. Its all about Decision-Making. Produced by the Queensland Economics Teachers Association (QETA). Are you interested in ECONOMICS ?.

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Senior Economics

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  1. Senior Economics Linking together the Past, Present and Future of Decision Making A four semester course for Years 11 and 12 Its all about Decision-Making Produced by the Queensland Economics Teachers Association (QETA)

  2. Are you interested in ECONOMICS? Are you interested in money, wealth, government or small business? Do you have a curious mind? Are you able to read and comprehend written material? Do you want to develop a line of inquiry and devote time to Research? Are you interested in Decision-Making? Do you consider yourself capable of working both independently and in a group? Have you been enjoying humanities, business, or sciencesubjects in junior high school?

  3. What is Economics? Economics is more than just business studies, it is the study of the interaction between households, businesses and the government. It helps you to understand the decisions and actions of all of these entities in shaping the distribution of income and wealth in your house, your country and the world. Economics is thus about understanding why people around you behave in the way that they do. Think about it this way - any decision that you have to make in the course of your life is in a sense an economic decision: a trade off between costs and benefits. A Key Concept of Economics: Production Distribution Consumption Goods and Services

  4. Economics – why study it? Gain Knowledge and Understanding about decisions regarding employment, investment, taxation, inflation, wages and salaries, saving and interest rates. • Much of what you learn in Senior Economics will be of use to you as a citizen, consumer, employer or employee. • Economics is a subject that is relevant because it addresses contemporary issues. • You will learn about some of the approaches that can be put into place to solve local or world problems such as unemployment or extreme poverty. Economics offers flexibility in the choice of tertiary pathways you may undertake - from careers as diverse as business, journalism, psychology, engineering, medicine and health sciences.

  5. Critical Thinking Communication Analysis Categorising Your Decision Making Karma Research Group Work Information Expand your Mind…

  6. What will you STUDY? Study how individuals and societies choose to use the resources that nature and previous generations have provided. Investigate issues Inquire more deeply Study societal and global affairs concerning resource allocation. Economics in Year 11 and 12 – Course Outline: Core Units – One per Semester Inquiry Method You direct Your learning • Circular flow of Income • Contemporary Micro- economic Issues • Contemporary Macroeconomic Management • International economics

  7. Learn about Economic models… Profits/Wages Flow of Wealth Businesses People Is this an ideal economy? Consumers Investment Savings Government Spending Tax Banks

  8. Involve yourself in both Practical and Theoretical Activities Play share-market games - manage a portfolio on the internet. Computer simulations - manage the Australian Economy Computer assisted learning - use Excel and Access… Use critical thinking and problem solving skills. Excursions: eg. universities, stock exchanges, factories. Analyse the viewpoints of speakers from trade unions, banks & governments. Clarify and justify your views ontaxes, multi-nationals, welfare…

  9. Personal economics Systems and development Environmental economics Income and expenditure analysis Distribution of income and wealth Globalisation and Trade Finance Industry and Market Concentration Share market Population Economic development School based inquiry e.g. tourism, transport, sport, small business… Course Outline – Elective Units Your Economics Teacher will choose Four to Six units from the list below to work in with your core units in Year 11 and 12:

  10. Assessment Individual Assessment Group Assessment Examples: Calculations, short response item exams, response to stimulus exams, essays, practical exercises… Examples:Oral, video, computer, research assignments… Your Year 11 work will be formative, (meaning it won’t be added towards your Senior certificate). This gives you the chance to train up your skills in Economics before facing summative assessment in Year 12. Your Assessment in Economics is based on FOUR criteria: • Knowledge and understanding: facts, concepts. • Investigation: selecting, examining and analysing data. • Synthesis and Evaluation: appraising and communicating economic ideas

  11. JOB SKILLS An ability to think logically Oral communication Skills Research Skills Computer literacy Internet research skills Written communication skills Understanding of political and economic affairs and issues of the World

  12. Cost Analyst • Broker • ASIO Employee • Demographer • Market Research Analyst • Tax Agent • Journalist • Teacher CAREER PATHS! • Economist • Banker • Lawyer • Loan Officer • Shares Trader • Business Owner • Financial Analyst • Statistician

  13. What is that Job Anyway? With Economics training you may end up in a variety of occupations: The Private sector: banking, insurance, stockbroking, marketing, small business and primary industry Government: the Treasury, foreign affairs, intelligence, trade International: the World Bank, IMF, the UN, multinational companies General: accounting, law, engineering, architecture, business management Economist:someonewho advises on economic policy, in areas such as industry, government and finance. Shares Trader: a professional who buys and sells shares (ownership of part of a company) and bonds (a secure loan) in stock and commodity markets. Financial Analyst:someone who analyses the accounts and the economic prospects of a company or firm. But, what do these jobs actually mean? Here are some examples:

  14. Find out more about Senior Economics… View relevant sites on the internet: Speak with an Economics teacher Talk to your careers counselor Eg. 1: UQ School of Economics: http://www.uq.edu.au/economics/ Ask current Economics students what it is like… Eg.2: QUT School of Economics http://www.bus.qut.edu.au/schools/economics/ Eg.3: Austrade http://www.austrade.gov.au/ Contact economists in universities, businesses, & governments...

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