Business
MRS KATRINA MAHER, HEAD OF DEPARTMENT – BUSINESS Business is very important in our everyday life and also in every walk of life. People study business for many reasons. Some are preparing to pursue careers in one of the major fields of business. Others want to become better-informed consumers by understanding their rights, and to avoid pre- and post-purchase problems. The Business course at Fairholme aims to equip students to enter the real world of consumerism.
The Year 9 Business course focuses on two key concepts: Financial Literacy and Enterprises and Ventures. Resources from The Financial Basics Foundation are utilised in the Financial Literacy component to explore topics such as Income, Budgeting, Credit, Banking, Investing, Mobile Phones and Smart Online Shopping. The Enterprises and Ventures strand provided students with an opportunity to explore and develop their entrepreneurial skills. In groups, each girl was involved in preparing, running and evaluating a venture. Profits were donated to various charities, with Drought Angels being the main recipient. To assist with the selection of Senior subjects, Markets and Opportunities is designed for Year 10 students as an introduction to the three Business Senior subjects: Accounting, Economics and Legal Studies. The purpose of this course is provide a taster for students to make an informed decisions regarding subject selection for Years 11 and 12.
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Accounting in Year 12 provides the opportunity for students to develop a template in Excel for Budgeting purposes, to ascertain if they will be able to afford to purchase a car or house in the near future, as well as the culmination of the majority of our practical topics, navigating the effective use of the computerised accounting program MYOB. The foundation skills and knowledge are gained through the study of Year 11 Accounting. The Year 11 Accounting students completed Units 1 and 2, learning processes and practices for both service industries and trading industries. Students sat their first Summative piece of assessment of the ATAR system, which focused on the topic of managing resources, in particular non-current assets, for a trading business. This year the Year 11 Economics students started the new QCE syllabus. Their studies began with the fundamentals of economics, including understanding the basic economic
problem and market forces using the supply and demand model. The next topic of Unit 1 was based around an investigative research report on economic flows using the five sector circular flow of income model. Unit 2 delved into the study of markets and efficiency and what happens when markets fail. This led to a study of inequality, on which a response to stimulus exam was based. Students then transitioned to Unit 3 for Term 4 where they studied international economics and the global economy. The first internal assessment was a combination exam. The Year 12 group successfully completed their studies of Economics in 2019. It was a whole-year focus on macroeconomic issues. In Term 1, students studied Income and Wealth Distribution; learning the importance of getting the balance right between individual and collective prosperity. Next, students learnt about the objective-based management of the economy and wrote a report on an issue of their choice as analytical researchers. Following closely in
