COMMERCE Year 10 • MONEY AND MARKETS SUBJECT LENGTH: SEMESTER UNIT VALUE: ONE OVERVIEW A semester-based course where students study a combination of Accounting, Financial literacy and Economics.
ACCOUNTING AND FINANCIAL LITERACY
ECONOMICS
Key Concepts covered
Key Concepts covered
■ The effect that consumer and financial decisions of individuals have on themselves, their family, their broader community and the natural, economic and business environment.
■ The basic economic problem of relative scarcity.
■ Financial and organisational goals including budgeting strategies. ■ Managing financial risks and rewards in Australia and the global landscape. ■ Personal financial literacy skills and the role of savings and investment. ■ Cash accounting for businesses and analysing how to improve the bank balance.
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■ The need for economic decision-making. ■ The concept of opportunity cost. ■ The laws of demand and supply – factors that can influence consumers and supplier. ■ Effects of changes in demand and supply on equilibrium prices and quantities. ■ Apply economic theory to make economic predictions. ■ Gather and interpret relevant data and information about the economic markets. ■ Research current economic issues facing Australia and their impact on society.
