Economic Principles

Use economic indicators and models to understand and analyse real-world situations.

Use economic concepts and knowledge to understand, explain and evaluate decision making by individuals, firms and government.

Describe economic outcomes in markets and how these are affected by market structure and the macroeconomic environment.

Identify appropriate business strategies and government policy to achieve positive outcomes (such as increase profit, reduce market failure, or stabilise macroeconomic fluctuations).

Analyse current economic issues and determine/evaluate responses by the relevant economic agents.

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