These are ATARMAxxing’s course-guide summaries. Review all required areas, including school assessments, practical work, performances or folios where applicable. Follow your course’s option rules.
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Economic inquiry skills
This strand is not a separate exam section but the skill every question is built to test: applying scarcity, choice, opportunity cost and the production possibility curve to an unfamiliar scenario, identifying the objective at stake, and reasoning through the intended and unintended consequences of a decision for named stakeholders. Every question in both booklets opens with a constructed fictional economy — a country, a market or a pair of firms — and expects the answer to be built from that stimulus rather than from memorised theory.
Data analysis
Students read and interpret qualitative and quantitative data — graphs, tables and payoff matrices — including the direction of a relationship between variables and what a given R and R-squared value implies about its strength. Since a 2025 subject outline change, mean, median, quantiles and variance are used and interpreted from given figures but never calculated by the student, and R and R-squared are interpreted, never calculated.
Microeconomics
Covers demand and supply and the difference between a shift and a movement; price elasticity of demand and of supply, including the total revenue method; the four market structures and how each affects price, choice, quality, efficiency and profit; consumer surplus, producer surplus and deadweight loss; price ceilings, price floors, subsidies and taxes; market failure (public goods, uncompetitive markets, externalities, asymmetric information) and measures to address it; and duopoly modelled through simple 2×2 game theory (payoff matrices and Nash equilibrium). Cost curves and marginal-revenue profit-maximisation diagrams are not in the outline and are not examined.
Macroeconomics
Covers the macroeconomic objectives (full employment, price stability, economic growth) and their indicators (unemployment rate, participation rate, NAIRU, CPI inflation, real GDP), the phases of the business cycle and leading/lagging/coincident indicators, the five-sector circular flow and the expenditure multiplier, the Monetarist AD–AS model with SRAS and LRAS, demand management (fiscal and monetary) and supply-side policy, and floating exchange rates. The expenditure-multiplier formula itself is not required knowledge.
Assessment Type 1: Folio and Assessment Type 2: Economic Project (school-assessed — not examined)
The 70% school-assessed component sits outside the external examination entirely. The Folio (40% of the subject) is three or four tasks totalling a maximum of 4000 words; the Economic Project (30%) is a single investigation of up to 2000 words. Both are set and marked by the school and moderated by the SACE Board across the eight teaching contexts.
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These links come from this subject’s existing official-paper archive. A listed year is the document’s year, not a claim that it matches the 2026 course. Written papers may cover only part of your assessment; use the official requirements for practical, performance and folio components.