This unit (WDB1004) introduces students to the fundamental principles of economics in terms of the micro and macro environments within which businesses operate and the challenge of scarcity facing modern societies. Students will also gain an understanding of domestic and international factors that affect business decision making in a globalised world. Work-integrated learning is central to the unit. Students will undertake a Learning in the Workplace and Community (LiWC) project focusing on economic indicators and making comparisons between two countries. As such, they will develop critical thinking and problem solving skills as well as communication and team work skills. Vocational delivery and assessment methods inform the teaching and learning approaches in this unit. Students will build academic language, literacy and numeracy skills relevant as they engage in teaching and learning activities and assessments for the unit.