Economics

Course summary

The fundamental aim of the Economics course is to enable students to develop an understanding of microeconomic and macroeconomic theories and concepts and their real-world application, develop an appreciation of the impact on individuals and societies of economic interactions between nations, and develop an awareness of development issues facing nations as they undergo the process of change. The study of Economics helps to develop a critical and analytical mind that challenges any preconceived notions regarding how the economy works. The study of Economics is about dealing with scarcity, choice, efficiency, equity, economic well-being, sustainability, change, interdependence and intervention. The integrated subtopics of Economics of the environment and Economics of inequality and poverty help to bring to light the main global challenges facing the planet today and how these can be addressed. Students explicitly learn thinking and research skills such as comprehension, text analysis, transfer and use of primary sources. Teachers emphasise the importance of inquiry, concepts, content and contexts and their interrelationships with each other to allow for a deeper and more integrated understanding of Economics as a discipline.