Economic decisions have a crucial influence on the quality of life experienced by people throughout the world. The study of economics can help individuals, groups and societies make choices that assist them to improve their quality of life.
As a subject, Economics Stage 6 is distinctive because of the range of problems and issues that it investigates and the skills that it develops. A student who has completed the Preliminary and HSC courses should have knowledge and skills enabling them to:
• comprehend the background and implications of contemporary economic issues
• discuss appropriate policies to solve economic problems and issues
• understand what a change in interest rates, share values or the value of the Australian dollar means to individuals and the economy
• identify fluctuations in the global and Australian economies and their likely effects on business
• understand reasons for changes in employment patterns
• identify, using economic thinking, appropriate strategies to protect the natural environment.
The discipline of economics has a theoretical basis and economists often debate the relative merits of different theories when assessing economic issues and proposing solutions to economic problems, including economic modelling.
Discussion of economic issues dominates the media and politics. By understanding economics, students can make informed judgements about issues and policies and participate responsibly in decision-making.
Students will benefit from the study of economics if they engage in studies that include business, accounting and finance, media, law, marketing, employment relations, tourism, history, geography or environmental studies.
If selected as a specialisation at university, economics can lead to careers in:
• share, finance or commodities markets
• business
• economic forecasting
• banking
• insurance
• tourism
• resource management
• property development and management
• government
• environmental management
• town planning
• foreign affairs or economic policy development.
The study of Economics Stage 6 allows students to develop knowledge and understanding, skills, attitudes and values using subject matter and methodology that suit their interests. The course benefits students when they pursue further education and training, employment and active participation as citizens.