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• Economics and Business: Levels 9 and 10 description

  In Levels 9 and 10, students consider how the Australian economy is performing and the importance of its interactions and relationships with the Asia region and the global economy in achieving growth and prosperity. This includes the significance of trading relationships in supporting prosperous...

  Level description | The Humanities | Economics and Business

• VCEBR022

  Explain the links between economic performance and living standards, including the variations that exist within and between economies, and give reasons for the possible causes of variations

  Elaborations

  • comparing Australia’s resource base with another economy and exploring how this may influence trading relationships, for example, why does a particular economy manufacture electronic goods, while another focuses on mining?
  • locating a range of products in the local shopping centre that were produced overseas, and proposing reasons why they were not produced in Australia
  • mapping the global supply chain for a product to identify the participants in the chain
  • defining ‘living standards’, discussing why it is considered the ultimate goal for economic activity and explaining its relationship to economic performance
  • investigating economic performance and living standards and discussing how they can mean different things to different people and countries
  • investigating the ways living standards can be measured, for example, gross domestic product (GDP), Human Development Index (HDI) or total quality of life index
  • identifying policy options designed to improve living standards, such as education, training and workforce development, taxation, migration, government spending on health and infrastructure, environmental policies

  VCEBR022 | The Humanities | Economics and Business | Levels 9 and 10 | Resource Allocation and Making Choices

• 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

• VCEBW008

  Investigate the influences on the ways people work and explore factors affecting work now and into the future

  Elaborations

  • investigating the effect factors such as online shopping, technological change or outsourcing of labour, have on the way work is conducted
  • mapping the trend of the ageing population and predicting possible future effects on the workforce
  • exploring changing societal values on work and the work environment such as work-life balance and working from home

  VCEBW008 | The Humanities | Economics and Business | Levels 5 and 6 | Work and Work Futures

• The Humanities | Economics and Business: Structure

  Economics and Business is organised by six strands. Throughout these strands the study of economics and business issues, events and business case studies form an integral component of the curriculum. The content is intended to be taught through relevant contexts, which will help students make...

  Overview material | Economics and Business

• VCEBR021

  Identify and explain the indicators of economic performance and examine how Australia’s economy is performing

  Elaborations

  • identifying and explaining indicators of economic performance such as economic growth rates, unemployment rates, inflation rates, sustainability indexes, business confidence, human development index, liveability, and the world happiness report
  • investigating the performance of the Australian economy using key indicators to form a conclusion

  VCEBR021 | The Humanities | Economics and Business | Levels 9 and 10 | Resource Allocation and Making Choices

• Economics and Business: Levels 9 and 10 achievement standards

  By the end of Level 10, students describe how resources are allocated and distributed in the Australian economy and the way economic performance is measured. They provide explanations for variations in economic performance and standards of living within and between economies. Students explain...

  Level description | The Humanities | Economics and Business | Levels 9 and 10

• VCEBC005

  Consider the effect that the consumer and financial decisions of individuals may have on themselves, their family, the broader community and the natural, economic and business environment

  Elaborations

  • exploring how a decision to buy an item affects the family, for example, ‘Did the family have to put off buying another item to have this one?’ or 'Does what my family buys in the supermarket affect what businesses might sell or produce?'
  • explaining the benefits to themselves and their family of having savings and/or a strategy for saving
  • investigating whether buying at the local supermarket helps the local community
  • considering if their actions have an effect on the environment, for example, does choosing to use recycling shopping bags have an effect on the natural environment?

  VCEBC005 | The Humanities | Economics and Business | Levels 5 and 6 | Consumer and Financial Literacy

• VCEBW025

  Research the way the work environment is changing in contemporary Australia and analyse the implications for current and future work

  Elaborations

  • researching current trends in the types of work available, the changes occurring, and the implications for future employment
  • analysing how technology, globalisation and sustainability have affected the way we work
  • investigating a range of occupations and the skills and dispositions required in different fields

  VCEBW025 | The Humanities | Economics and Business | Levels 9 and 10 | Work and Work Futures

• VCEBW026

  Examine the roles and responsibilities of participants in the changing Australian or global workplace

  Elaborations

  • exploring emerging global needs and related opportunities in the workplace
  • identifying the responsibilities of various participants in a particular workplace, for example, employers, employees, industrial organisations or state, territory and the Commonwealth government
  • examining changes to the roles of employees in the workplace, for example, the increasing encouragement for workers to show initiative or act as intrapreneurs
  • identifying employer responsibilities to workers and the government, for example, superannuation, paid parental leave, income tax, company tax or the Goods and Services Tax (GST)
  • discussing the responsibilities of government in improving the conditions of workers, for example, occupational health and safety, and anti-discrimination laws

  VCEBW026 | The Humanities | Economics and Business | Levels 9 and 10 | Work and Work Futures

• The Humanities | Economics and Business: Learning in Economics and Business

  Foundation to Level 4 – Laying the foundations

  While there is no formal economics and business curriculum prior to Level 5, students may have developed relevant knowledge and capabilities through other curriculum areas and interactions in everyday life.

  Students may develop a basic understanding...

  Overview material | Economics and Business

• The Humanities | Economics and Business: Rationale and Aims

  The VCAA has published the Victorian Curriculum F–10 Version 2.0. To view the curriculum, familiarisation resources and support material, go to the Victorian Curriculum F–10 Version 2.0 website.
  
  Go to the VCAA website to explore the timeline for familiarisation and implementation of...

  Overview material | Economics and Business

• 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