Subject Summary

Students will develop a broad understanding of how the economy works. They will develop understanding of key aspects of economic theory such as: how markets work, supply and demand, marketing failure and government intervention, the economic cycle, microeconomics and macroeconomics. The students will also look at globalisation and its impact on local and national economies.

Students of Economics are encouraged to use an enquiring, critical and thoughtful approach to their study, to understand that economies can be influenced by any number of different aspects and turn on the slightest whim!

Economics is about choice and the impact of our choices on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. An economic way of thinking can help you make better choices.