WACE Economics

Subscribing to ReviseOnline WACE Economics course (Units 1&2 and Units 3&4) gives you access to an extensive range of revision material, which can deliver a significant boost to your ATAR score. WACE Economics is designed to give the student a better understanding of the analysis of the allocation, distribution and utilisation of scarce resources that determine our wealth and wellbeing. Unit 1&2 in Year 11 covers economic enquiry and the operation of the economy, while the Year 12 (Units 3&4) course explores Australian economic policy and management in a global context.

Using only WA Curriculum specific assessment material, students use ReviseOnline to develop skills to more effectively articulate responses and manage time pressure, leading to less stress and higher scores.

Users of ReviseOnline Economics will receive:

Course

Topic tests

Exam builders

Full exams

Year 11 (Unit 1&2)

18

2

3

Year 12 (Unit 3&4)

28

1

3

Structure of assessments

  • Topic tests -10 Multiple Choice (10 marks), 3 Short Answers (36 marks). Suggested time 50 min each

  • Exam builders - 18 Multiple Choice (18 marks), 3 Short Answers (36 marks), 1 from 2 Extended Answer (20 marks). Suggested time 2hr each

  • Full exams - 24 Multiple Choice (24 marks), 3 Short Answers (36 marks), 2 from 4 Extended Answer (40 marks). Suggested time 3hr each

Marking keys

Each test or exam also comes complete with sample answers and WACE style marking keys. Multiple choice is automatically marked for you.

Topic areas covered:

Year 11 (Unit 1&2)

Year 12 (Unit 3&4)

Balance of payments

Aggregate demand and aggregate supply model

Demand, supply, equilibrium and elasticity

Aggregate expenditure model

Economic growth, inflation, unemployment, income distribution and economic objectives

Business Cycle

Macroeconomic activity and the business cycle

Economic policy objectives

Markets

Exchange rates

Market failure, government policies and equity, Externalities, Public goods and common resources, Efficiency, Consumer and Producer Surplus

Fiscal Policy

The public sector, taxation and the effects of government policies

Foreign Investment

 

Free trade and protection

 

Global interdependence

 

Measures to improve productivity and structural change

 

Monetary Policy

 

Patterns of trade and Balance of Payments

 

Terms of Trade