April 27, 2021
VCE economics introduces a variety of economic theories and models which are needed for a basic understanding of how an economy functions, with a primary focus on the Australian economy. The course covers microeconomics and macroeconomics, so on completion of this subject students will understand some of the complexities of individual markets and larger economies. Aside from understanding the content, VCE economics teaches students to think critically, analyse data, link different concepts, and identify economic theories playing out in the news and in everyday life.
This is a popular subject amongst students aiming to study commerce at a tertiary level as it is extremely relevant to such courses, as well as amongst students who are more interested in the policy aspects of the subject.
Performing well in economics requires consistent effort as it can be hard to keep up after falling behind one area, given that most of the concepts are interconnected. It is important for students in this subject to find areas within it that are of interest to them, as otherwise the content may seem dry leading to difficulties with understanding.
Many students spend time learning definitions but not paying attention to how and why each concept works and connects with others. The economics exam requires students to demonstrate a deeper understanding of the content beyond memorisation, so students often fall short due to this.
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