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• VCEBW016

  Consider the ways in which work can contribute to individual and societal wellbeing

  Elaborations

  • exploring ways that work can affect an individual’s self-esteem, material and non-material living standards and happiness
  • investigating the ways work affects the economy such as avoiding poverty (relative and absolute), productivity, and generating income

  VCEBW016 | The Humanities | Economics and Business | Levels 7 and 8 | Work and Work Futures

• VCEBN018

  Explain the role of enterprising behaviours and capabilities in the work environment and explore how individuals and businesses can use them

  Elaborations

  • exploring types of enterprising behaviours and capabilities and how they are used in businesses
  • recording the enterprising behaviours and capabilities used during the day and analysing how they might be improved
  • identifying the enterprising behaviours and capabilities used by entrepreneurs and successful businesses and comparing these to behaviours of ‘not so successful’ businesses

  VCEBN018 | The Humanities | Economics and Business | Levels 7 and 8 | Enterprising Behaviours and Capabilities

• VCEBW017

  Describe the nature and investigate the influences on the work environment

  Elaborations

  • investigating present influences on the ways people work, such as technological change, outsourced labour in the global economy, rapid communication changes
  • identifying changes to the workforce over time, such as the jobs available, the way individuals or communities value particular work, career length and human resource development
  • predicting changes to work in the future and possible outcomes, for example, ‘What could be the effect of a changing attitude to work–life balance or the decline of some industries?’

  VCEBW017 | The Humanities | Economics and Business | Levels 7 and 8 | Work and Work Futures

• VCEBE019

  Identify relationships and trends, and generate a range of alternatives for an economic or business issue or event, evaluating the potential costs and benefits of each alternative and the consequences of proposed actions

  Elaborations

  • interpreting tables, charts and graphs containing economic or business data to identify trends and using the data to make predictions about future trends, for example, trends in online shopping
  • examining the trade-offs involved in making choices
  • investigating how businesses identify opportunities in the market
  • undertaking a cost-benefit analysis of alternatives proposed and making a decision about which one to recommend
  • discussing the consequences of an economic or business decision, and reflecting on whether this was the ‘best’ decision and what might be the effect of alternative actions
  • developing skills to contest and debate ideas and to express opinions on economics and business issues that interest and/or affect them or society

  VCEBE019 | The Humanities | Economics and Business | Levels 7 and 8 | Economic and Business Reasoning and Interpretation

• VCEBC014

  Explain the reasons why and the ways in which individuals and businesses set, prioritise and plan to achieve financial and organisational goals

  Elaborations

  • prioritising short-term personal financial objectives and identifying how these objectives can be achieved, for example, through developing a budget and having a savings plan
  • explaining the need for setting long-term personal financial objectives and listing ways of achieving these objectives, for example, investment, superannuation or savings
  • explaining how financial records such as income statements, budgets and cash flow inform business decision-making

  VCEBC014 | The Humanities | Economics and Business | Levels 7 and 8 | Consumer and Financial Literacy