Australia and the global economy
- Globalisation and trade
- Balance of payments
- Exchange rates
- Australia's trade relationships
About this unit
Analyse trade, financial flows, exchange rates and Australia’s position in the global economy.
Course at a glance
What you'll study
Macroeconomic theory and economic policy
- Aggregate demand and supply
- Economic performance
- Fiscal policy
- Monetary and structural policy
About this unit
Apply macroeconomic models to performance, policy objectives and management of the Australian economy.
Official resources
Start with the current SCSA syllabus, then use the supporting documents that match your course.
Current Year 12
2027 preview1 files
Assessment
Three hours working time follows ten minutes reading time. Questions can use Australian data from the latest ten years.
20%
Multiple-choice
20 questions · 30 min suggested
50%
Data interpretation
4 questions · 90 min suggested
30%
Extended answer
One Unit 3 and one Unit 4 response · 60 min suggested
Assessment details
Multiple-choice
Economic concepts, indicators, models, and policy mechanisms.
Data interpretation
Interpret graphs, tables, and text, then apply economic concepts.
Extended answer
Choose one question for each unit and construct two economic arguments.
WACE Economics scaling
The 2025 cohort mean scaled score was 59.1, below TISC's all-course mean of 60.
Syllabus updates and paper advice
Current · 2026
No recent changes to the course
The syllabus taught from 2024 has no published assessable content change for 2025 or 2026.
Practice · older papers
Use current economic data in your answers
Past concepts remain useful, but exam responses can require Australian performance and policy from the latest ten years.
Ahead
2027 syllabus is published
SCSA's listed change documents cover rationale, aims and General Capabilities, with no assessable content-change summary.
Common questions
How is the final WACE course mark calculated?
The final combined course mark weights the moderated school assessment and external SCSA examination equally: 50% each.
Does WACE Economics scale up or down?
Economics typically scales down, but this isn’t guaranteed in future years.
How should I use older WACE papers?
Past concepts remain useful, but exam responses can require Australian performance and policy from the latest ten years.
Related courses
WACE · Year 12
Practise Economics
Build exam technique across Units 3 and 4 with syllabus-aligned Economics questions.
Practise WACE Economics →