This subject provides students with an introduction to Business Management, Accounting and Economics. Students begin by exploring business planning, gaining an understanding of the business environment and business terminology as well as the need of businesses to create a competitive advantage. They explore introductory accounting concepts such as recording accounting transactions, interest, GST and price setting. They also develop their ICT skills in terms of using Excel. Students gain an understanding of how a small business accounts for both profit and cash flows as well as the decision-making process on how a business can be financed.
Students move on to studying some fundamental economic concepts, such as relative scarcity, opportunity cost, resource allocation and the laws of demand and supply. They look at the relationship between consumers, businesses and the government in a market economy. The insights of behavioural economics are also examined.
Innovation and entrepreneurship
Starting your own business
Business planning
Marketing
Recording and reporting financial information
Price-setting strategies
Resource allocation and living standards
Demand and supply models
Behavioural economics
Student assessment typically incorporates topic tests and the submission of completed learning activities (including exercises and group work).
There is also an examination at the end of the semester.
For more detailed information, please click on the link/s below:
For more detailed information, please click on the link/s below:
Victorian Curriculum: The Humanities - About the Humanities - Victorian Curriculum (vcaa.vic.edu.au)
Australian Curriculum: Economics and Business | The Australian Curriculum
In the current absence of a suitable textbook, Business Studies staff have created their own learning resources. These will be made available at the start of the semester.