YEAR 10 ECONOMICS

Wow what a crazy, jam packed and hectic Term 2 it has been! Following the examination period, our Year 10 students entered Semester Two with a new area of study – Economics and Business. Key economic principals which underpin this topic include opportunity cost, supply and demand, the barter system and economic scarcity, just to name a few.

The students enjoyed a meaningful hands-on learning experience to put their hard work to good use. As students are starting to enter the workforce, they are learning that we live in a world of increasing reliance on virtual payment options. Aside from linking to the areas of study, the students appreciate an understanding that our credit cards will not get us everything we want, and the skill of being money smart is enhanced. 

We hope our students have an excellent break during the school holidays! 😊 

Ms Paula Howard

‘It links with financial investment because you need to make decisions – should I get houses? should I save? You need to think smart and think before you just buy something – you need to prepare, calculate your situation and act accordingly. I feel like supply and demand linked well to the game because some cards cost significantly more and have a higher reward. It made me realise that there is a lot more to economic decisions than I originally thought’. 

Evan | Year 10 Student.

‘The game requires a lot of thinking and outsmarting your opponents – trading is heavily seen, just like the real world. It was a good opportunity to collaborate with friends and explore the concepts we have recently learnt. The understanding of business and how companies operate in the game has opened my eyes about the real world’. 

Jake | Year 10 Student.