What content from the Prelim course Economics will I need for Yr 12? (1 Viewer)

[Phoebe 123]

Don't say something like "Everything" Or "Most of it."

Be more specific. Will I need to know what an firm is, market failure, etc?

What are the terms I will need to know?

 

[enoilgam]

Basically, year 11 economics is theory whilst year 12 is application of that theory in the real world with a focus on Australia. So you need to know pretty much all the basics (S&D, market failure etc).

 

[krnofdrg]

Don't say something like "Everything" Or "Most of it."

Be more specific. Will I need to know what an firm is, market failure, etc?

What are the terms I will need to know?

Yes , these things are assumed knowledge btw... Alot of the prelim work as said by enoil is preparing you for the hsc..

prelim you should learn the basics of economics..

5 sector model and monetary/fiscal policy and other economic elements.. however dw they are revised later on in yr 12!!

 

[mystery_meat]

Yeah, as everyone else has said, you need to know all of it. Year 11 are the very basics; without some kind of understanding of them you can't apply it to economies and sectors as a whole. Which is, essentially, what the Year 12 course entails. You're applying theory to different economies and economic situations. If you only know parts of the Year 11 course, you're not going to be able to do that thoroughly.

So, as much as you obviously don't want the answer to be 'everything', that's really what you need to know. Everything in the prelim course (which, I might point out, you can be assessed on in the HSC).

 

[powlmao]

Don't say something like "Everything" Or "Most of it."

Be more specific. Will I need to know what an firm is, market failure, etc?

What are the terms I will need to know?

From what i know

-Basic foundations, e.g. Demand and Supply
- concepts.