7–10Commerce 7–10 Syllabus
The new Commerce 7–10 Syllabus (2024) is to be implemented from 2027.
2025 and 2026 – Plan and prepare to teach the new syllabus
2027 – Start teaching new syllabus
School sectors are responsible for implementing syllabuses and are best placed to provide schools with specific guidance and information on implementation given their understanding of their individual contexts.
Content
Stage 5
The economic problem of scarcity
The role of opportunity cost when making choices about the use of limited resources
The circular flow model as a foundation for understanding how the Australian economy works
The interdependence of economic sectors as reflected in the circular flow model
The price mechanism and the interaction of supply and demand in a market
The importance of economic growth in an economy
Indicators of economic growth
The effects of economic growth in Australia
The economic objectives of governments in maintaining a strong economy
The reasons for government intervention in the Australian economy
The methods of government intervention in the Australian economy
Investigate a current issue in relation to an economic event or development that has affected Australian consumers and businesses, and communicate findings using relevant subject-specific terminology in written, oral, visual or multimodal form
Create written texts to explain and analyse aspects of the economic environment