Economics and business / Year 10 / Economics and Business Knowledge and Understanding

View on Australian Curriculum website Australian Curriculum, Assessment and Reporting Authority
Curriculum content descriptions

The links between economic performance and living standards, and how and why variations exist within and between economies (ACHEK051)

  • defining ‘living standards’ and explaining its relationship to economic performance
  • exploring the factors that can explain the variations in economic performance within or between economies (for example, high levels of foreign ownership, employment rates, levels of debt)
  • investigating economic performance and living standards and discussing how they can mean different things to different people and countries
  • investigating the ways living standards can be measured (for example, gross domestic product (GDP), Human Development Index (HDI) or total quality of life index)
  • investigating the ways in which income and wealth are distributed in the economy, using measures such as an income distribution histogram, the Lorenz curve or the Gini coefficient
General capabilities
  • Critical and creative thinking Critical and creative thinking
  • Ethical understanding Ethical understanding
ScOT terms

Living standards,  Business cycles,  Uneven development


Trade and Investment at a Glance

Using an illustrated report from the Department of Foreign Affairs and Trade, this Teacher guide provides ten learning sequences that engage students in the analysis and interpretation of data about Australian imports and exports. Students: identify Australia's major exports and imports; investigate international trade ...


The Conversation: the state of the Australian economy

This article describes the state of the Australian economy, beyond the story of budget crisis. It is authored by an economics professor and is in plain language. The article provides links to a further collection of articles discussing the state of Australia from different political and social viewpoints.