11–12Economics 11–12 Syllabus (2025)
The new Economics 11–12 Syllabus (2025) is to be implemented from 2027 and will replace the Economics Stage 6 Syllabus (2009).
2026
- Plan and prepare to teach the new syllabus
2027, Term 1
- Start teaching the new syllabus for Year 11
- Start implementing new Year 11 school-based assessment requirements
- Continue to teach the Economics Stage 6 Syllabus (2009) for Year 12
2027, Term 4
- Start teaching the new syllabus for Year 12
- Start implementing new Year 12 school-based assessment requirements
2028
- First HSC examination for the new syllabus
Content
Life Skills
Through collaborative curriculum planning, it may be decided that Life Skills outcomes and content are the most appropriate option for some students with intellectual disability.
This content aligns with course content from the following focus areas in the Economics 11–12 Syllabus:
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Needs and wants of individuals and groups
Goods and services that can satisfy needs and wants
Resources needed to purchase goods and services
Reasons goods and services may become scarce
How the scarcity of goods and services can impact consumer decisions
Familiar examples of incentives
How incentives can influence decision-making
Decisions that may involve a trade-off
Consider incentives and trade-offs when making financial decisions
The difference between spending and saving money
Influences on decisions to save or spend money
Factors that influence decisions to purchase goods and services
Factors that influence everyday finance
Ways to responsibly manage finances
Strategies for making informed and responsible financial decisions
Steps to develop a budget to manage personal finances
Ways to access support or information for financial planning or management
Access to financial tools, apps and resources to support personal money management
Strategies for saving and achieving financial goals
Reasons for borrowing money
Sources that can be used for borrowing money or obtaining credit
The purpose of different types of credit
Implications of borrowing money or obtaining credit
The differences between debit and credit cards
The purpose of superannuation
How contributions are made to superannuation
Goods and services available in the local community
The role of businesses in producing goods and services for the economy
How goods and services are made available to the community
The role of consumers in supporting the economy
How businesses make an income from selling goods and services
The circular flow of earning an income and spending income on goods and services
The goods and services tax (GST) component of purchased goods and services
Ways individuals contribute to the economy through unpaid work
The role of financial institutions in supporting the economy
The role of government in supporting the economy
The role of the international sector in supporting the economy
Goods and services that households consume
The role of households in providing labour in exchange for income, which is then used to consume goods and services
Various sources of income
The effect of changes in income on consumption
The relationship between consumption, income and savings
Strategies to manage personal and household consumption and savings
Economic factors that affect household consumption
The role of income in contributing to personal wellbeing
Apply strategies to manage personal income and expenditure
Develop a budget to make personal financial decisions
Make decisions about purchasing goods or services, informed by an understanding of incentives, trade-offs or personal finances
Locate and communicate information about financial services