Commerce

Purpose

The Commerce course is designed as an introduction to the world of Business and Economics. Studying Commerce encourages students to engage in the world around them, thinking critically about the choices they make regarding the allocation of their own resources and the impact that our choices have on our environment and economy. Investigating global economic issues aids in the development of well-rounded individuals who are able to contribute to our society in an informed manner.

Structure and Content

Through their studies in this subject, students will develop an understanding of the ways in which an economy functions and how to measure the performance of an economy. The factors that influence major and minor consumer decisions are explored with specific reference to consumerism. The ways governments manage the economy to improve living standards are investigated, along with the reasons why economic performance and living standards differ within and between economies, with a particular focus on the Asia Pacific Region. Students explore the nature of market failure and externalities and why the government intervenes to ensure that supply and prices of goods and services reflect the depletion of resources or costs to society. The content is taught through a range of contemporary issues and events with considered reference as to how our responses can demonstrate good stewardship before God.

Economic & Business knowledge and Understanding 

• Indicators of economic performance and how Australia’s economy is performing 

• The links between economic performance and living standards, the variations that exist within and between economies, and the possible causes 

• The ways that governments manage the economy to improve economic performance and living standards 

• Factors that influence major consumer and financial decisions and the short term and long-term consequences of these decisions 

• Economic and Business skills 

• Apply economics and business knowledge, skills and concepts in familiar, new and hypothetical situations 

• Present reasoned arguments and evidence-based conclusions in a range of appropriate formats using economics and business conventions, language and concepts 

• Reflect on the intended and unintended consequences of economic and business decisions.