As mass global flows of people, resources, finances and information produce social, economic, political and environmental complexities and challenges, Australia needs enterprising individuals who can make informed decisions and actively participate in society and the economy as individuals and more broadly as global citizens. Young Australians will also face a number of social, economic and moral challenges in their lifetimes that will impact on their lives and choices. It is critical that students are equipped with the knowledge, understanding and skills that will empower them in the face of such challenges.
The Australian Curriculum: Economics and Business empowers students to shape their social and economic futures and to contribute to the development of prosperous, sustainable and equitable Australian and global economies. The study of economics and business develops the knowledge, understanding and skills that will equip students to secure their financial futures and to participate in and contribute to the wellbeing and sustainability of the economy, the environment and society. Through studying economics and business, students learn to make informed decisions and to appreciate the interdependence of decisions made within economic systems, including the effects of these decisions on consumers, businesses, governments and other economies, and on environmental and social systems.
Economics and business provides students with opportunities to develop enterprising behaviours and capabilities that will equip them to face challenges in their lifetime. Through authentic learning opportunities, the economics and business curriculum fosters enterprising individuals who are able to effectively embrace change; seek innovation; work with others; show initiative, flexibility and leadership; use new technologies; plan, organise and manage risk; and use resources efficiently. Economics and business will better place students now and in their adult lives to actively and effectively participate in economic and business activities, while reflecting on the effects of their decisions on themselves, other people and places, now and in the future.