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Here is what some students have to say:  \nVasilis: Economics is not all about money. It’s about how we use our resources and how we make decisions. It helped me to understand real-world stuff, and to make sense of what was going on in the world.  \nTina: I am passionate about social justice. Economics is about improving the living conditions of people.  \nGood economic decisions can mean better food, better housing and better health care  \nVCE ECONOMICS – ONE OF LIFE’S ESSENTIALS.  \nFOR MORE INFORMATION GO TO:  \n[https://www.vcaa.vic.edu.au/](https://www.vcaa.vic.edu.au/)[ ](https://www.vcaa.vic.edu.au/)[Documents/vce/economics/](Documents/vce/economics/)[ ](Documents/vce/economics/)[EconomicsSD-2017.pdf](EconomicsSD-2017.pdf)  \nDo you know why you were paying over $4  \nfor avocados at one stage? Do you know what it means when the exchange rate changes, and how this affects you? What about all that talk on the Reserve Bank and interest rates; what does that mean for you? Studying Economics will ensure you are able to make sense of all of this and so much more.  \n.  \n[www.vcta.asn.au](www.vcta.asn.au)  \nUNIT 1  \nWHY STUDY ECONOMICS?  \nWHAT IS ECONOMICS?  \nEconomics touches on every facet of your daily life – it is all around you. It provides you with the opportunity to better understand the workings of the world around you. It is not just for students who are looking for a career in business. In this subject, you will develop skills and knowledge which can be applied to many different careers, and throughout all stages of your life. Economics explores simple theories which will help you to understand basic ideas such as why prices change and why imported products may be cheaper than Australian made products. More complex ideas allow you to learn how the government manages the economy, with the ultimate objective of improving living standards.  \nIn Economics, you will:  \n• examine the role of consumers, businesses and governments in the economy  \n• explore and evaluate the nature and consequences of economic trade-offs  \n• appreciate the reasons behind economic decisions and evaluate the outcomes of contemporary events on local, domestic and international economies  \n• understand how the Australian economy operates  \n• consider how Australia’s economic relationships with other economies and global economic institutions influence living standards and long-term prosperity  \n• evaluate the effectiveness of government responses to economic situations  \n• think critically and creatively about approaches to economic problems that might arise.  \nAll countries are faced with the same  \nbasic economic problem – how do you  UNITS 3 AND 4   \nallocate resources to meet the needs In these units you will develop a deep  \nand wants of all people? understanding of the macroeconomy.  \nHow do you decide what to produce and  \nYou will learn about three fundamental  \nhow much to produce? What factors  \ngovernment goals which are important  \ndetermine who will benefit from what is  \nin managing the Australian economy.  \nproduced? In this unit you explore your  \nThese are low inflation, strong and  \nrole in the economy. You consider how  \nsustainable economic growth and full  \nyou interact with businesses and look at  \nemployment. Through an analysis  \nfactors that influence decision-making.  \nand examination of the details of  \nYou look at how prices change and how  \nthese goals, you will understand the  \nresources are allocated in the basic  \nimportance of each in helping maintain  \ndemand and supply model. Economic  \na stable economy. The achievement  \ntheories come to life when you apply the  \nof these goals can help to improve  \ntheory to real life case studies.  \nindividual living standards and  \n UNIT 2  national welfare.  \nIn addition, there is a particular focus on  \nYou examine the concept of international trade. You wi","cbCaiuFwzwitpxNw","https://ap.wps.com/l/cbCaiuFwzwitpxNw","pdf",713766,"English","# Why Study Economics?\n## What Is Economics?\n## What You Will Learn in Economics\n## Unit 1: Your Role in the Economy\n## Unit 2: International Trade and Economic Growth\n## Units 3 and 4: Macroeconomic Understanding","[{\"question\":\"Why should students choose Economics?\",\"answer\":\"Students study Economics to understand how resources are used and how decisions are made, helping them make sense of what is happening in the world. It also links economic choices to improved living conditions.\"},{\"question\":\"What is Economics, according to the brochure?\",\"answer\":\"Economics is the study of how the world works through theories about prices, resources, and how governments manage the economy. 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