Humanities - Path to Prosperity

Subject Area: Humanities - Economics

Unit of Study: Path to Prosperity

Brief Description: Path to Prosperity will investigate the participants in the Australian and global economy, and how they interact with each other. Students will develop an understanding of market forces and the role of the Australian Government in driving Australia's economy, peering behind the curtain of economic policy and putting themselves in the shoes of the country's most powerful decision-makers.

Scaffolding Learning

At the conclusion of this unit of study students will have: 

An understanding of key knowledge

• economic policy, including fiscal and monetary, and the circular flow model of the economy (E10K01)

• the ways government and the Reserve Bank of Australia intervene in the economy to improve economic performance and living standards (E10K02)

• economic indicators as a measurement of economic performance and their influence on economic decision-making (E10K03)

• the changing patterns of Australia’s international trade and costs and benefits of globalisation (E10K04)

Attained these key skills 

• locate, select, organise and analyse relevant information and data from a range of sources (E10S02)
• evaluate and use data and information to address economic, business, work or financial issues through recognition of trends and cause-and-effect relationships (E10S03)
• develop and evaluate a response to an economic and business issue, using cost-benefit analysis or criteria (E10S05)

Demonstrated the Victorian curriculum standards and capabilities

• Personal and Social Capability
• Ethical Capability
• Critical and Creative Thinking

Assessment Tasks

Students will be required to complete one of the following assessment tasks:

• Economic update report
• Globalisation presentation

Additional learning opportunities

• Economic history of Melbourne excursion

Resources

• Digital device (laptops preferred)

Pathways

This unit of study could provide students with the following pathway.