Overview
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.
- Apply Apply for 2025
- Enquire For 2026 and beyond
- Duration 2 Semesters
- Hours per week Live lessons are 2 periods per week and self-paced is 4-6 hours
- Fees View fees
- Department Commerce
Unit focus areas
Economics Unit 3 - Australia’s living standards
Economics Unit 4 - Managing the economy
Pre-requisites
Students undertaking Units 3 and 4 Economics need to have completed Units 1 and 2 Economics.
Assessments
For Units 3 and 4, students complete School-Assessed Coursework (50%) subject to external moderation and a written examination (50%).
If you are interested in applying for Economics 3&4, please click here.
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
Integrating technology for learning
The Haileybury Pangea learning community has been designed from the ground up by our brilliant teachers working alongside international researchers in blended learning.
FAQs
For a full list of FAQs see our Frequently Asked Question page
