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Economics 1&2

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Peter Lewis Economics 12
Welcome from Peter Lewis


Economics is the study of how resources are allocated to maximise living standards and ensure prosperity. It attempts to explain how and why individuals behave the way they do and the consequences of their decision-making. Studying Economics as a social science enables students to gain valuable insight into the economic problems that they may face on an individual basis and collectively as a society to meet the needs and wants of citizens. It may assist them in making more informed and responsible decisions, understand the world around them, and leave with life skills that they can carry beyond school. All studies provide a foundation for further study and entry into the workplace. You should choose your studies according to what you enjoy, what you are interested in and your career aspirations. All studies are continually revised and updated to maintain a high degree of relevance and usefulness.

Unit focus areas

Economics Unit 1 - Economic decision-making

Economics Unit 2 - Economic issues and living standards


There are no pre-requisites for studying Economics Units 1 and 2.


For Units 1 and 2, students complete a range of outcomes and classwork throughout each semester. There will also be an examination at the end of the academic year.

Enrolments and assessments

Some important information regarding enrolments and assessments.

Using the Victorian Assessment Software System (VASS), a student is enroled in each of their subjects with both (a) a home school and (b) an assessing school. For more information about enrolments and assessments and what needs to be completed please click the button below to read further information

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