Economics
Teacher: Salomé van Rensburg
Economics is the study of how we exchange scarce resources to satisfy our needs and wants and in doing so we gain insight into human behaviour in a variety of contexts, whether as individuals, firms, governments, or other organisations. An economic system is influenced by the social and political contexts that inform decisions made by the different participants in the economy.
What happens in an economy depends on the choices that millions of people make every day when they interact with each other, with markets, with the government, and with their natural surroundings.
Through the study of Economics, students examine the most significant individual and social problems through the acquisition of analytical and problem-solving skills and the development of a logical, ordered way of looking at issues. These essential life skills promote the ability to balance different narratives, determine what assumptions matter, and build on existing knowledge.
In Stage 2 Economics, students use an inquiring, critical, and thoughtful approach to their study and further develop the ability to think like an economist. They apply their economic inquiry skills and their knowledge and understanding of economic concepts, principles, and models to analyse and respond to economic problems.
Assessment:
School Assessment (70%)
- Assessment Type 1: Folio (40%)
- Assessment Type 2: Economic Project (30%)
External Assessment (30%)
- Assessment Type 3: Examination (30%)
Pathways:
This subject is accepted for entry to tertiary courses including university courses. Economics will be helpful for those wanting to pursue a career in economics, business, commerce, accounting and politics.