Economics

Economic decisions have a crucial influence on everyone’s lives. The study of Economics helps individuals, groups and societies make choices that assist them to improve their quality of life.

The Economics Stage 6 course will enable students to:

  • Comprehend the implications of contemporary economic issues.
  • Discuss appropriate policies to solve economic problems and issues.
  • Understand economic issues that affect Australia and the global economy.

The discipline of economics has a theoretical basis when assess economic issues and proposing solutions to economic problems, including economic modelling. The course also incorporates a contemporary case study on a country that is not Australia to provide a holistic learning experience for students.

The subject is relevant in discussions dominated by media and politics. By understanding Economics, students can make informed judgements about issues and policies in the future. They may also benefit from the study in their future engagement with tertiary study and employment.

Master Coaching will provide students with the essential knowledge and skills to understand any Economics issue in the contemporary context. The course is taught with a stimulating and relevant framework for students to apply their theory to a range of real-life economic issues. Students will develop research analysis, problem-solving and critical thinking skills which will enhance their confidence and performance in the HSC.

Economics for Year 11

Year 11 Economics revolves around allowing students to build the essential knowledge and understanding of economic concepts and terminology. Building a relationship between consumers, markets, the government and the concept of supply and demand are essential for success in HSC economics.

Module 1 – Introduction to Economics

Introduction to Economics provides the stepping stone for students to understand the economic world. It is often a foreign concept to most people and this module will teach students the nature of economics and the core economic problem – scarcity. Master Coaching will teach this topic by examining similarities and differences between Australia’s economy and Asia to solidify understanding and also prepare for the HSC case study.

Module 2 – Consumers and Business

Consumers and Business is a microeconomic topic which considers the role of consumers and role of business in our society. The module looks at factors influencing consumer choice and how businesses contribute to economic growth. Master Coaching will supplement this by using real businesses and their decision-making processes in an economy.

Module 3 – Markets

Markets refers to the demand and supply of goods/services in an economy. This module is the foundation of economics and examines the forces which push and pull prices in an economy. Master Coaching will provide resources which will allow students to practice their skills in real problem cases on demand and supply to prepare students for their examinations.

Module 4 – Labour Market

Labour Markets focuses on a factor of production revolving around contemporary institutions. Students apply their knowledge of demand and supply from Module 3 to the Australian workforce and examines differences in income and labour market trends. With Master Coaching’s in-depth teaching of demand and supply in Module 3, this module can be used to focus on preparation for assessments and synthesisation of knowledge.

Module 5 – Financial Markets

Financial Markets refers to the influence of the Reserve Bank of Australia on financial institutions, interest rates and market outcomes. This topic covers the concept of demand and supply again in the context of borrowers and lenders. Master Coaching will use a series of financial articles to help students prepare and understand the content in a modern context as interest rates are constantly changing.

Module 6 – Government and the Economy

This topic focuses on the role of government in a mixed economy. The main concepts are management of the economy, and problems and issues arising from the free operation of markets. This topic will utilise relevant articles to study the federal budget and influences of government policies.

Master Coaching encourages weekly homework, assessments and participation in relevant extra-curricular activities will enhance a student’s understanding of the economy. Personalised feedback will be provided to identify areas of misconception so students can improve and solidify their foundation for Year 12.

Economics for Year 12

Year 12 Economics revolves around gaining a deep understanding of the four key topics for the HSC course. This course is centred around the NSW Syllabus content to provide HCS students a useful framework to create their study notes. A contemporary case study on a country that is not Australia will also be the main focus of Topic 1 to allow students to gain practical research skills while applying their theoretical knowledge. Economics allows students to develop students’ decision-making skills in a changing economy.

Module 1 – The Global Economy

The focus of this module is the operations of the global economy and the impact of globalisation on individual economies. Students will learn about international economic integration and apply their Year 11 knowledge to a global scale. Master Coaching will allow students to understand the topic through analysing statistics on trade, financial and labour flows to determine the extent of global interdependence. Master Coaching will also apply the knowledge learned in Module 1 of Year 11 in the contemporary case study essay in this topic.

Module 2 – Australia’s Place in the Global Economy

The focus of this module is an examination of Australia’s place in the global economy and the effect of changes in the global economy on Australia. Students learn about Australia’s trade and financial flows in the context of the Balance of Payments, exchange rates and protection of our economy. This topic is usually considered the hardest topic due to the large amount of new content and broad essay areas. Master Coaching will help students create essays and scaffolds in preparation for any examination questions.

Module 3 – Economic Issues

The focus of this module is the nature, cause and consequences of economic issues and problems that can confront contemporary economies. Students learn about economic growth, unemployment, inflation, external stability, distribution of income/wealth and the environmental impacts of economies. Master Coaching will help students understand this topic by providing resources, examples, and questions to synthesis the relationship between all the elements of this topic. This topic also has a large variety of essay areas which Master Coaching will help students prepare for. 

Module 4 – Economic Policies and Management

This topic focuses on the aims and operations of economic policies in the Australian economy and hypothetical situations. Students learn about macroeconomic policies such as fiscal and monetary policy, and microeconomic policies such as labour market reforms. Master Coaching applies these economic policies to the context of the economic issues learned in Module 3 to evaluate the effectiveness of the response in dealing with economic issues. Articles will also be used to supplement the topic of fiscal and monetary policy which is a topic area which changes every year.

Master Coaching focuses on the NSW Syllabus to provide content and skills which is relevant to the course. The flexibility of lessons allows the student’s weaknesses identified and improved upon. Essential examination, study and problem-solving skills will be taught, providing students with core competencies for their HSC. Past papers and an extended resource bank will allow students to gain experience in examination settings which allows for accurate mock examinations and experience. Additionally, individual student feedback with examples of Band 6 responses will allow students to significantly improve their knowledge and understanding of the course.

Your Economics Tutor

Jack Zhou

Bachelor of Commerce / Laws at the University of New South Wales

92 in Economics HSC 2015