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EDU5MTL Assignment 1
1.

Introduction
Often referred to as the dismal science1, an ongoing challenge for teachers of

economics is the perception among many students that economics is boring, difficult
and highly abstract (Ruder, 2010). Effective student engagement with the core ideas
presented in economics is significantly undermined by such perceptions. This is
unfortunate given that most economics teachers would insist that their subject is
fascinating, and very much about understanding and explaining the real world.
The perception of economics as boring and irrelevant has not been confined to
the secondary school setting, and has aided the continuing decline in tertiary level
student numbers in economics in Australia. A study by Stokes and Wright (2012)
showed that in the period 2004-2010 while there was growth in commencing student
numbers across business and law courses (29 per cent), the number of commencing
economics students declined (-2 per cent). This is significant, as Stokes and Wright
(2012) postulate, what can business graduates achieve without a comprehensive
understanding of the markets in which they will be operating? This can only be done
if economics as a discipline is presented as relevant to understanding contemporary
business and social issues, throughout the secondary and tertiary curricula.
This essay highlights these very issues by analysing a sample lesson plan for
teaching the core economic concept of unemployment. In the NSW HSC course,
unemployment is covered in Topic 3, Economic Issues (see Appendix 2 for
Economics Stage 6 Curriculum). This topic is typically undertaken in later part of the
HSC course, meaning that most students would have covered a broad range of
economic concepts, had some practice at applying them, and be comfortable engaging
in dialogue about the concepts. The sample lesson plan used (see Appendix 1 for full
lesson plan) was drawn from the NSW Department of Education initiative to
encourage the use of information technology across the curriculum and was chosen as
I believed, compared to other lesson plans examined, it would represented a more
interactive and engaging example.

1 For an interesting discourse on the origins of the term dismal science, refer to Dixon
(1999), Groenwegen (2001) and Levy (2000, 2001).

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If, as Stokes and Wright (2012) claim, the problem partly lies in the ability of
teachers to make useful links between the abstract mathematical tools of analysis
taught and the experience of their students, does this lesson plan overcome those
limitations? Based on this sample, the conclusion is that it does not. In this case,
unemployment is presented with little constructivist learning practices, and fails to
relate the concept to the lived experiences of the students (teenagers), who are about
to enter the cohort (youth) who are at risk of the highest rates of unemployment
within the labour market (Harris, 1996; Marks & Fleming, 1998; Perales et al., 2014;
Scarpetta, Sonnet, & Manfredi, 2010).
2.Elements of a Lesson Plan
Teacher curriculum planning is very idiosyncratic and represents a problem
solving approach. As Lovat and Smith (2003) identify, planning is constrained by how
much decision making space teachers have, and there is no one recipe that will ensure
success. Hunter (1979, 1991) : decisions about (1) Content to be learned, or what
content to teach next; (2) learner behaviour, or what the student will do. to learn and
to demonstrate learning has occurred; and (3) teacher behaviour, or what the teacher
does to facilitate the process of learning (Hunter, 1976). This, therefore, is Hunters
contention; if these professional decisions are made correctly in the framework of the
students, and to the specific situation, "learning will be increased" (Hunter, 1982 p. 3)
The planning dilemma is also represented in the literature as balancing internal
and external demands (Churchill et al., 2013). External factors will often be
determined by others, e.g. the curriculum. In the NSW HSC course, unemployment is
covered in Topic 3 of the HSC course, and details what is to be covered within this.
Planning is also affected by internal factors, such as the teachers own beliefs about
themselves, beliefs about their pedagogy, and beliefs about their learners. Bloom's
Taxonomy is stressed to teachers, encouraging consideration of all content, based / on
specific levels of complexity (Churchill et al., 2013). Hunter (1982) notes the need for
teacher planning of the content of the lesson and consideration of correct level based
on the needs of the students.
Therefore, an holistic context within which lesson planning should be
considered would include: the students' prior knowledge and understanding;
structuring a lesson so that it is engaging and interesting; researching and learning the

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content yourself so that you are able to confidently teach it; supporting learning for
the diverse group of students that you teach; how your lessons, at both the micro and
macro level, fit into the curriculum requirements of the State and Federal systems
under which you work; and how you can evaluate whether the students have learnt
what you intended and how you as a teacher performed at all levels (La Trobe, 2015).
Instructional practices espoused by Hunter have gained prevalence since first
published in 1976. Wolfe (1987) highlights that Hunters view of teaching as decision
making, where the elements are to be considered within the broader systemic and
internal constraints of the teaching environment. Indeed, according to Hunter (1979,
1982), all seven steps are not necessary in every lesson, but it is a "decision" of the
teacher to decide which steps are appropriate.
Irrespective of the pedagogical debates in the literature of the Hunter Model,
many lesson plans presented in teacher education resources as examples to follow
contain these very elements that Hunter (1979) proposed:

Table 1: Hunter Lesson Planning Model

1. Anticipatory Set

A short activity, dispatch or prompt that focuses the students'

attention and ties previous lessons to today's lesson.

2. Purpose

An explanation of the importance of this lesson and a

statement concerning what students will be able to do when
they have completed it. As with content, the learning objective
is at the appropriate level of difficulty, including the levels
suggested in Bloom's Taxonomy.

3. Input

The vocabulary, skills, and concepts to be learned.

4. Modelling

The teacher demonstrates what is to be learned

5. Guided Practice

The teacher leads the students through the steps necessary

to perform the skill using multiple modalities.

6. Checking For
Understanding

The teacher uses a variety of questioning strategies to

determine if the students understand.

7. Independent Practice

The teacher releases students to practice on their own.

8. Closure

A review or wrap-up of the lesson.

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Figure 1: Identified Elements of Sample Lesson Plan

Figure 1 identifies the key sections of the lesson plan for discussion. The
lesson plan in this case does not detail the broader considerations identified as critical.
Issues such as resource availability, fit within the curriculum, competence of the
teacher across the content are all taken as a priori considerations and as such, not
specified in this plan.
The initial stages of the lesson, which should focus on the anticipatory set are
limited. In this case, the material starts with the topic of unemployment, and there is
little suggestion as to how this might be reflected back to the entire Topic 3, or even to

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the broader scope of economics. Building upon this limitation, while the purpose is
defined up front in a technical manner referring to the Stage 6 Curriculum Objectives,
there is little scope to indicate why these objectives are important or tie together
across the whole topic.
Step 3 (Inputs) and Step 4 (Modelling) are clearly identified in the lesson plan,
however there is little indication of Step 5 (Guided practice). In this case it may be
that this is left to the discretion of the teacher and not detailed. However, as will be
examined in more detail in the next section, the activity employed in this lesson is
quite limited in how it permits genuine interaction and constructivist learning to
occur. This links directly to the use of Step 7 (Independent Practice), which is again
quite limited, as formulaic calculations without broader contextual reasoning leaves
little opportunity for practice.
Step 6 (Checking for understanding) occurs primarily in the later phases of the
lesson. This employs the strategy of assessment as learning, which occurs when
students reflect on and monitor their progress to inform their future learning goals
(Churchill et al., 2013). During the lesson the students are also given an opportunity
to reflect on each others work, so that monitoring and adjusting is occurring. Step 8
(Closure) is provided as a means of reviewing and discussing the activity, and the
concern is that the time allocation is not sufficient to gain any meaningful
conclusions. Beyond that, the closure should focus more on the key issues understood
and how they will be applied going forward to the next issue.
3.

Analysis
Models of instructional design that are based on objectivist philosophy (Dick

& Carey, 1996; Gagne, 1977; Smith & Ragan, 1993) and behaviourist learning
theories, follow the Tyler (2013) approach, in which four major steps are followed in
the correct sequence: (1) Identify the objectives of instruction, (2) Select the useful
learning experiences, (3) Organize the learning experiences in the best possible
manner, and (4) Evaluate learning.
Using this lesson as an example, planning according to the Tyler or Hunter
models may be useful for administrative and organisational purposes of ensuring that
a list of requirements are met, however using this approach as a means by which to
engage students is no longer adequate. Research indicates that few classroom teachers

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plan using these models anyway ((Clark & Yinger, 1977; Griffey & Housner, 1991;
Morine-Dershimer, 1979; Shavelson, 1983) and usually because of administrative
pressure if they do.
The sole focus of the lesson appears to be ensuring that students can correctly
calculate various measures of unemployment and labour force participation rates. In
the objectivist view, knowledge consists in correctly conceptualizing and categorizing
things in the world and grasping the objective connections among those things and
those categories (Gibbs, 1996). Applying Anderson and Krathwohls (Anderson et al.,
2001) Revised Blooms Taxonomy with respect of cognitive domain, this lesson seeks
to ensure the students understand (determining the meaning of instructional messages,
including oral, written, and graphic communication), and analyse (breaking material
into its constituent parts and detecting how the parts relate to one another and to an
overall structure or purpose). The nature of the content is such that students could
have worked at a higher level of cognition by evaluate (making judgments based on
criteria and standards; checking and critiquing).
Returning to the initial criticisms of economics being considered boring and
analytical, in this case the concerns are justified. Instruction has been designed to
effectively transfer the objective knowledge in the learner's head. Most students at this
stage of the curriculum with a passing interest in economics would be aware that they
would not have any future need to calculate these measures. And students with a
lesser interest in economics certainly wont be inspired further by the requirement.
That is not to say that a sound understanding of how unemployment is
calculated is unimportant: to the contrary, the measurement highlights many
fascinating aspects of economics. For example, if unemployment rises it may be due
to several factors, least of all may be the loss of jobs in the economy. However, the
narrow scope of this lesson does not allow for this investigation. There is limited
engagement of the group within the class, as each student undertakes the activity in
isolation, before exchanging work with another student to give feedback, again in
isolation. The objectivist approach limits the possibility that these issues will be
discovered by communally built knowledge between students.
Applying the approach espoused by Wiggins & McTighe (2008) in Universal
Design for Learning (UDL), a backward design process, where one begins with the

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end in mind would be essential for engaging students in this lesson. The design
process starts with asking what is worthy and requiring of understanding? In this case,
the key element would be to communicate that while unemployment has a functional
(and important) measure within the economy, it also has a broader social and political
and economic context. This is what Wiggins and McTighe describe as a 'filter' for
arriving at worthwhile understandings: representing a big idea having enduring value
beyond the classroom (unemployment leads to poverty with leads to social exclusion;
unemployment tends to target certain parts of society such as youth, elderly, NESB)
and that this resides at the heart of the discipline (understanding economics is really
about understanding how people make choices and the consequences of this for
society).
There is also little evidence in this lesson plan of giving the students an
opportunity to demonstrate their understanding. Wiggins and McTighe (1998) believe
that students truly understand when they: can explain, can interpret, can apply, have
perspective, can empathize and have self-knowledge. In this lesson plan, students are
required to undertake a simplistic linear task of calculation, and then articulate this in
written form. By broadening the initial scope of the topic beyond formulaic
measurements, students will have the opportunities to demonstrate these various
facets of understanding.
The analysis thus far has focussed exclusively on the content and scope of the
lesson as a critique of the objectivist approach of finding one reality. However, much
can also be gained from analysing the manner in which the content is delivered for the
desired understanding to be achieved. Applying a social constructivist perspective
(Brown, Collins, & Duguid, 1989; Lave, 1991; Lave & Wenger, 1991; Vygotsky,
1987)), the activity in this lesson plan does not encourage learners to construct their
own knowledge on the basis of interaction with their environment. The knowledge
constructed relies little on social interaction. As constructivists believe that there are
multiple truths and realities, education should be encouraging multiple perspectives.
In the calculation of unemployment rates, there really is only one true answer, as it is
a formulaic manipulation of given data. However, this does not mean that the
engagement around the concepts needs to be as one-dimensional.
A key goal of constructivist educators is to guide students to think and act like
experts (Bednar, Cunningham, Duffy, & Perry, 1992; Resnick, 1987)). Applying
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cooperative learning techniques, such as the Jigsaw Model (Aronson, 1978) a more
useful activity for learning the calculation of unemployment might have been to create
groups within the class, and in each group assign one member a topic or issue on
which to become an expert. Within the overall objective to engage students by
demonstrating that economics is a multifaceted endeavour, it might have been useful
to ask students to measure unemployment (however defined), from the perspective
of the Australian Bureau of Statistics, the Federal Government, a family, a youth
worker and an Indigenous representative. This would immediately highlight to the
students that while there is one correct measurement, there are many ways of
measuring.
If, according to the constructivist perspective, learners interpret their world
and educators have to account for the meaning-perspectives of the learners and for
their interpretations of the world, then a key element of this lesson that is missing is:
what does unemployment mean for you? If engaging students with economics means
convincing them that it is really a study of social phenomena, then the discussion
within class need to account for the social realities understood by the students. As
noted by Wiggins et al (1998), students need lessons that enable them to experience
directly the inquiries, arguments, applications, and points of view underneath the facts
and opinions they learn if they are to understand them.
4.

Recommendations
Engaging students with the objective

The student activities described in the lesson plan do not contribute in a direct
and effective way to the lesson objective. The objectives need to reflect a sequence of
learning experiences that students will undertake to develop understanding, with an
emphasis on an inquiry-based approach that requires 'uncovering' the chosen content.
Engaging students by letting them construct their own learning

Universal Design for Learning (UDL) is an approach to teaching and learning

that focuses on providing maximum flexibility in all aspects of teaching and learning
to cater to the wide range of student needs and interests. Providing flexible pathways
for learning at each step in the learning process can be supportive of all learners in all
curriculum areas and across all phases of learning. The process of calculating
unemployment data, while important at some level provides little flexibility for the
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students. Starting with the concept of unemployment as a societal issue, and allowing
the students to working backwards to address what they see as the key issue (e.g.
creating more jobs, increasing labour force participation rates) would necessitate the
calculations required in this lesson, but allow them to get to that point from a path of
their own discovery.
Assessment to enhance learning

An important emphasis is that assessment is part of the learning process and

should occur throughout the sequence, not just at the end. The lesson plan presents
little scope for the teacher to use assessment as learning. In addition, the use of peer
review as suggested may offer limited benefit, as it is largely a unidirectional
approach. A more useful way in which to gather peer input would be through methods
such as the Jigsaw Model, or group based discussion, or engaging the students in a
debate.
5.

Conclusion
The key issue to resonate in this analysis is that in some way, all lessons plans

can be improved. Returning to the concept that planning is a series of decisions, it is

also pertinent to consider the realities of the classroom. Planning for both the lesson
and the curriculum may indeed take place in an environment of thoughtfulness, but
must be executed in a reality that may be vastly different, and contends with factors
that may be beyond the control of the teacher. Bearing that in mind, the value of this
for my own pedagogy is that lesson planning must remain, above all, a flexible tool to
be adapted to the needs of the students that you are teaching on any given day.
Economics may indeed still be the dismal science, and perhaps no amount of
quality, engaged, constructivist teaching will convince great numbers of students to
pursue rewarding careers as economists. However, well designed lessons, that
demonstrate to students that what they are studying is relevant to them as individuals,
as members of society, and as future voters, may go some way to help ease the
perception that economics is boring.

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References
Anderson, L. W., Krathwohl, D. R., Airasian, P. W., Cruikshank, K. A., Mayer, R. E.,
Pintrich, P. R., . . . Wittrock, M. C. (2001). A taxonomy for learning, teaching,
and assessing: A revision of Bloom's Taxonomy of Educational Objectives (L.
W. Anderson & D. R. Krathwohl Eds.). New York: Longman.
Aronson, E. (1978). The jigsaw classroom: Sage.
Bednar, A. K., Cunningham, D., Duffy, T. M., & Perry, J. D. (1992). Theory into
practice: How do we link. Constructivism and the technology of instruction: A
conversation, 17-34.
Brown, J. S., Collins, A., & Duguid, P. (1989). Situated cognition and the culture of
learning. Educational researcher, 18(1), 32-42.
Churchill, R., Ferguson, P., Godhino, S., Johnson, N., Keddie, A., Letts, W., &
McKay, J. (2013). Teaching: Making a Difference. Sydney, Australia: John
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Clark, C. M., & Yinger, R. J. (1977). Research on teacher thinking. Curriculum
Inquiry, 7(4), 279-304.
Dick, W., & Carey, L. (1996). The systematic design of instruction. New York: Harper
Collins Publishers.
Dixon, R. (1999). The Origin of the Term" Dismal Science" to Describe Economics:
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Gagne, R. M. (1977). Analysis of objectives. Instructinal design: Principles and
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Gibbs, R. W. (1996). Why many concepts are metaphorical. Cognition, 61(3), 309319.
Griffey, D. C., & Housner, L. D. (1991). Differences between experienced and
inexperienced teachers' planning decisions, interactions, student engagement,
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196-204.
Groenewegen, P. (2001). Thomas Carlyle, the Dismal Science and the Contemporary
Political Economy of Slavery. History of Economics Review, 74-94.

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Harris, M. N. (1996). Modelling the Probability of Youth Unemployment in Australia.

Economic Record, 72(217), 118-129.
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Hunter, M. (1982). Mastery teaching: Corwin Press Thousand Oaks, CA.
Hunter, M. (1991). Hunter lesson design helps achieve the goals of science
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socially shared cognition, 2, 63-82.
Lave, J., & Wenger, E. (1991). Situated learning: Legitimate peripheral participation:
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Levy, D. M. (2000). 150 Years and Still Dismal! Ideas on Liberty, 50, 8-10.
Levy, D. M. (2001). How the dismal science got its name: debating racial quackery.
Journal of the History of Economic Thought, 23(01), 5-35.
Lovat, T. J., & Smith, D. L. (2003). Curriculum Action on Reflection (4th ed.).
Tuggerah: Social Science Press.
Marks, G. N., & Fleming, N. (1998). Factors Influencing Youth Unemployment in
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Study, Part IV. Research Series No. 60.
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Ruder, P. J. (2010). Teaching economics with short stories. Australasian Journal of
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Shavelson, R. J. (1983). Review of research on teachers' pedagogical judgments,

plans, and decisions. The Elementary School Journal, 392-413.
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learning outcomes. Interactive instruction and feedback, 75-103.
Stokes, A., & Wright, S. (2012). More effectively engaging students in university
economics courses. Australasian Journal of Economics Education, 9(1), 1-20.
Tyler, R. W. (2013). Basic principles of curriculum and instruction: University of
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Appendix 1 Sample lesson Plan

Source:
http://www.curriculumsupport.education.nsw.gov.au/digital_rev/hsie/stage6/index.htm

Economics HSC Topic 3: Economic Issues Unemployment: Trends in

the labour force
Rationale
In this laptops for learning lesson, students will use ICT extensively as they
learn how the LFPR and unemployment rates are defined and calculated and
how to draw accurate conclusions from unemployment data in relation to
trends and the causes of unemployment.
Quality Teaching Target Areas
Engagement

Outcomes
H1 demonstrates understanding of economic terms, concepts and
relationships
H9 selects and organises information from a variety of sources for
relevance and reliability
H11 applies mathematical concepts in economic contexts
H10 communicates economic information, ideas and issues in appropriate
forms
Information Communication Technologies (ICT)
Construct a spreadsheet from a given set of data
Create graphs and a word processed analysis
Email spreadsheet and word processor documents
Provide feedback using the track changes & new comment
functions of MS Word
Background Information about the lesson
This lesson can be taught at the beginning of the series of lessons on
unemployment in the Economic Issues topic of the HSC course. This lesson
will take 2 periods (1 long period).
Resources
Laptop
Economics Textbook
Table 1 (see below)
Tutorials: Excel tutorial Line graph tutorial

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Lesson Plan: Unemployment

Learn abouts

Teaching & Learning Strategies

ICT

Introduction (20 mins)

Unemployment
- measurement
-labour force
-participation rate
-unemployment rate
calculate the
unemployment rate
and the
participation rate
using labour force
statistics
identify and analyse
problems facing
contemporary and
hypothetical
economies

Read/discuss the definition of the labour force and unemployment;

students make notes
Define LFPR; define unemployment rate; discuss the relationship
between the two; students make notes
Deconstruct the formulae for the LFPR and Unemployment Rate;
students make notes

Calculation activity (15 mins)

Students:
Open a new MS Excel file to create a table, completing Excel formulae
for LFPR and Unemployment Rate (make up a name for the nation to
use in the title)
Transfer the data from Table 1 into it
Using the chart wizard, complete 2 line graphs for the LFPR and
Unemployment Rate over the 4 years
Open a new MS Word document; add a title; paste the graphs; save

Excel tutorial
Connectedness
Line graph tutorial

Analysis (30 mins)

Students:

assess the key

problems and
issues facing the
Australian
economy

Complete a 500 word analysis of the trends evident in the graphs,

suggesting some possible causes; add to the MS document
Email the document to a partner
Partners read the document and make editions and comment utilising the
track changes & new comment functions in MS Word
Partners email the document back to the author and discuss feedback

Email
Track changes

Conclusion (10 mins)

Add comment

Review formulae and definitions

Compare analyses
Discuss the effectiveness of Excel and Word in the analysis and
presentation of data

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Student worksheet - Calculating LFPR and

Unemployment Rate using ICT
Resources: Laptop, Economics Text, Table 1 (below),
Tutorials: Excel tutorial Line graph tutorial
You are going to create a report based on the figures in Table 1 below.
Your report will be an analysis of changes in the labour force statistics
for a nation (you choose to name the nation) using line graphs you have
created in Microsoft Excel.
Calculation activity (10 mins)
Open a new MS Excel file to create a table, completing Excel formulae for LFPR and
Unemployment Rate (make up a name for the nation to use in the title)
Transfer the data from Table 1 into it
Using the graph wizard complete 2 line graphs for LFPR & Unemployment Rate over 4 years
Paste the graphs into a MS Word document (next activity)

Analysis (25 mins)

Create a word document with an appropriate title (eg. Trends in the labour force for A Land Years
1-4).
Complete a 500 word analysis of the trends evident in the graphs, suggesting some possible causes
Once completed, email the document to a partner
Partners read the document and make editions and comment utilising the track changes function
in MS Word
Email the document back to the author and discuss feedback

Conclusion (5 mins)
Class reviews formulae and definitions of unemployment and LFPR
Class compares analyses
Class discusses the effectiveness of Excel and Word in the analysis and presentation of data

Table 1: Hypothetical employment figures for a nation

Year

Employed
(million)

Unemployed
(million)

Labour force
(million)

Working age
population
(million)

21

0.8

33

21.5

1.0

34.6

22.0

1.2

35.9

23.0

1.0

38

LFPR %

UE rate %

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Appendix 2
1. Rationale for Economics in the Stage 6 Curriculum
Economic decisions have a crucial influence on the quality of life experienced
by people throughout the world. The study of economics can help individuals,
groups and societies make choices that assist them to improve their quality of
life.
As a subject, Economics Stage 6 is distinctive because of the range of
problems and issues that it investigates and the skills that it develops. A
student who has completed the Preliminary and HSC courses should have
knowledge and skills enabling them to:
comprehend the background and implications of contemporary
economic issues
discuss appropriate policies to solve economic problems and issues
understand what a change in interest rates, share values or the value
of the Australian dollar means to individuals and the economy
identify fluctuations in the global and Australian economies and their
likely effects on business
understand reasons for changes in employment patterns
identify, using economic thinking, appropriate strategies to protect the
natural environment.
The discipline of economics has a theoretical basis and economists often
debate the relative merits of different theories when assessing economic
issues and proposing solutions to economic problems, including economic
modelling.
Discussion of economic issues dominates the media and politics. By
understanding economics, students can make informed judgements about
issues and policies and participate responsibly in decision-making.
Students will benefit from the study of economics if they engage in studies
that include business, accounting and finance, media, law, marketing,
employment relations, tourism, history, geography or environmental studies.
The study of Economics Stage 6 allows students to develop knowledge and
understanding, skills, attitudes and values using subject matter and
methodology that suit their interests. The course benefits students when they
pursue further education and training, employment and active participation as
citizens.

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2. Continuum of Learning for Economics Stage 6

Students
HSIE K6

Stages 45

Stages 45

Stages 45

Mandatory History

HSIE Electives

Mandatory Geography

(including Commerce)

Knowledge, understanding, skills, values and attitudes in

Stages 45 related to Economics

Stage 6
Economics

Workplace

University

TAFE

Other

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Aim

The aim of Economics Stage 6 is to develop students knowledge,

understanding, skills, values and attitudes for effective economic thinking that
contributes to socially responsible, competent economic decision-making in a
changing economy.

Objectives

Through the study of Economics Stage 6, students will develop:

knowledge and understanding about:
the economic behaviour of individuals, firms, institutions and
governments
the function and operation of markets
the operation and management of economies
contemporary economic problems and issues facing individuals, firms
and governments
skills to:
investigate and engage in effective analysis, synthesis and evaluation of
economic information from a variety of sources
communicate economic information, ideas and issues in appropriate
forms
values and attitudes about:
informed participation in economic debate and decision-making
responsible approaches towards people, societies and environments.

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Course Structure

Economics Stage 6 consists of a Preliminary course and an HSC course.

Preliminary Course
The Preliminary course is essentially microeconomic in nature, focusing on aspects
of the economic behaviour of consumers, business and governments. Much of this
behaviour is influenced by the operation of markets. Two key markets, the labour
market and the financial market, are examined in detail. The Preliminary course
provides an essential foundation for the HSC course.

Preliminary Course

% of course

Indicative

120 indicative hours

time

Hours

Introduction to Economics

10

12

Consumers and Business

10

12

Markets

20

24

Labour Markets

20

24

Financial Markets

20

24

Government in the Economy

20

24

HSC Course
The HSC course focuses on the management of an economy and is therefore
essentially macroeconomic in nature. It examines the external framework in which
the Australian economy operates. The course investigates the impact of the global
economy on the Australian economy and the link between economic issues and the
management of an economy, with specific reference to the Australian economy.

Higher School Certificate Course

% of course

Indicative

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time
120 indicative hours

Hours

The Global Economy

25

30

Australias Place in the Global Economy

25

30

Economic Issues

25

30

Economic Policies and Management

25

30

The order of the topics in both the Preliminary and HSC courses is not prescriptive
and may be influenced by economic events, the interests and needs of the students
or the availability of resources.

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Objectives and Outcomes

Objectives

Preliminary Outcomes

HSC Outcomes

A student will develop

knowledge and understanding
about:

A student:

A student:

the economic behaviour of

individuals, firms, institutions
and governments

P1
demonstrates
understanding of economic
terms, concepts and
relationships

H1
demonstrates
understanding of economic
terms, concepts and
relationships

P2
explains the economic
role of individuals, firms and
government in an economy

H2
analyses the economic
role of individuals, firms,
institutions and governments

the function and operation of

markets

P3
describes, explains and
evaluates the role and operation
of markets

H3
explains the role of
markets within the global
economy

the operation and management

of economies

P4
compares and contrasts
aspects of different economies

H4
analyses the impact of
global markets on the Australian
and global economies

P5
analyses the
relationship between
individuals, firms, institutions
and government in the
Australian economy

H5
discusses policy options
for dealing with problems and
issues in contemporary and
hypothetical contexts

P6
explains the role of
government in the Australian
economy

H6
analyses the impact of
economic policies in theoretical
and contemporary Australian
contexts

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contemporary economic
problems and issues facing
individuals, firms and
governments

P7
identifies the nature and
causes of economic problems
and issues for individuals, firms
and governments

H7
evaluates the
consequences of contemporary
economic problems and issues
on individuals, firms and
governments

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Objectives

A student develops
skills to:

investigate and engage in

effective analysis, synthesis and
evaluation of economic
information from a variety of
sources

communicate economic
information, ideas and issues in
appropriate forms

Preliminary Outcomes

HSC Outcomes

A student:

A student:

P8
applies appropriate
terminology, concepts and
theories in economic contexts

H8
applies appropriate
terminology, concepts and
theories in contemporary and
hypothetical economic contexts

P9
selects and organises
information from a variety of
sources for relevance and
reliability

H9
selects and organises
information from a variety of
sources for relevance and
reliability

P10
communicates
economic information, ideas
and issues in appropriate forms

H10
communicates
economic information, ideas and
issues in appropriate forms

P11
applies mathematical
concepts in economic contexts

H11
applies mathematical
concepts in economic contexts

P12
works independently
and in groups to achieve
appropriate goals in set
timelines

H12
works independently
and in groups to achieve
appropriate goals in set
timelines

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