From rising living costs and interest rates to international trade and government policies, economics shapes the decisions we make every day. VCE Economics examines how markets operate, how resources are allocated and how economic decisions influence Australia's economy and living standards.
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What Will You Learn?
Units 1 & 2 — Foundations of Economics
01
Economic Decision-Making
Explore scarcity, opportunity cost and the allocation of resources.
Understand how consumers, businesses and governments make economic decisions.
Investigate demand, supply, prices and market competition.
Examine how behavioural economics influences decision-making.
02
Economic Activity and Living Standards
Explore economic growth and measures of living standards.
Investigate economic issues such as employment, international trade, inequality and environmental sustainability.
Interpret economic data, statistics and indicators.
Analyse different perspectives on contemporary economic challenges.
Units 3 & 4 — Australia’s Economy and Economic Management
01
Markets and Resource Allocation
Analyse demand, supply, market equilibrium and price movements.
Investigate market efficiency, market failure and government intervention.
Evaluate how markets allocate resources.
02
Domestic Macroeconomic Goals
Explore economic growth, inflation and employment.
