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:


Topic tests

Exam builders

Full exams

Year 11 (Units 1&2)




Year 12 (Units 3&4)

(2024 syllabus)




Structure of assessments

  • Topic tests - 20 Multiple Choice (20 marks), 2 Short Answers (24 marks). Suggested time 55 min each

  • Exam builders - 20 Multiple Choice (20 marks), 3 Short Answers (36 marks), 1 from 2 Extended Answer (15 marks). Suggested time 2hr 30min each

  • Full exams - 20 Multiple Choice (20 marks), 4 Short Answers (50 marks), 1 from 2 Extended Answer (15 marks), 1 from 2 Extended Answer (15 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)

(2024 syllabus)

Business Cycle

Australia’s international trade

Demand, supply and equilibrium

Free trade and protection

Economic growth

Balance of payments


Terms of trade

Income distribution; Government in the macroeconomy

Exchange rates


Foreign Investment

Introduction to economics

Australia’s macroeconomic performance and the business cycle

Introduction to macroeconomics

The aggregate expenditure model

Market efficiency

The aggregate demand and aggregate supply models

Market Failure

Fiscal policy 


Monetary Policy


Labour productivity