Loss & Grief links to Humanities - Economics

Richard Layard, co-director of the Centre for Economic Performance at London School of Economics has written widely on unemployment, inflation, education, inequality and post-Communist reform.

Explore direct and indirect costs of ill health including mental illness.
Investigate relationship between status and income and health.

Economics knowledge and understanding

At Level 6 students describe how markets, government policies, enterprise and innovation affect the economy, society and environment in terms of employment, economic growth, the use and provision of resources, exports and imports, and ecological sustainability.

They analyse how goods and services are produced and how markets work. They predict how prices change when there is a surplus or shortage, and explain how this might influence the behaviour of consumers and producers. They analyse the role and significance of exchange, trade and globalisation in influencing Australia’s standard of living. They discuss and explain what it means to be an ethical consumer and producer and identify examples of ways values can affect the economic decision making of consumers, producers and governments.

Students analyse the role that governments and financial systems and institutions play in the economy, and evaluate their performance in achieving appropriate economic outcomes for individuals and for society. They explain the role and significance of saving and investment for individuals and for the economy, and demonstrate the skills required to successfully plan and manage personal finances.

Students predict the economic consequences of proposed government policies and make informed choices among alternative public policy proposals. Students explain the impact of macroeconomic and microeconomic policies on themselves and others, including businesses.

Students analyse vocational pathways and education and training requirements and identify possible career paths and opportunities. They demonstrate skills required for moving from school to employment or further education.