Introduction
Unit 1
Unit 2
Unit 3
Unit 4
Statistics
ComNET Economics Classroom
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Unit
3: Economic activity and objectives
Areas of Study
1. Economic activity in Australia
The focus of this unit is the study of economic activity in Australia and the factors that affect the achievement of the Australian Government's economic objectives.Economic activity refers to any activity by individuals, firms or governments that generates production, income, expenditure and employment. In order to understand the factors influencing economic activity in Australia it is essential to explore these fundamental economic concepts. Students will develop their understanding about how the market operates in the Australian economy, understand the difference between microeconomics and macroeconomics and explore how the level of economic activity is influenced by supply-side and demand-side factors.
2. Economic objectives and performance in Australia
All governments have specific economic goals or objectives they wish to achieve, and a wide range of aggregate demand and aggregate supply factors can affect the achievement of these objectives. Over time, the objectives will vary in importance as economic circumstances change. In this area of study, students will learn about why these economic goals are significant for the economic wellbeing of the Australian economy and provide an economic `barometer' which may be used to gauge the performance of the Australian economy.
Assessment
School-assessed coursework for Unit 3 will contribute 25 per cent to the study score. The level of achievement for Units 3 and 4 is also assessed by an end-of-year examination, which will contribute 50 per cent to the study score.