CPAP Study Guide to VCE Economics

The CPAP Study Guide to VCE Economics (17th edition) - 2023

The CPAP Study Guide to VCE Economics (2023) will be revised and updated for the new VCE Economics Study Design 2023.  The new 17th edition will continue with the same style and themes as previous editions and will remain a publication that is designed to supplement any senior VCE Economics text.  It will include the key content that students require to successfully complete the newly accredited course. In addition, the Study Guide it will retain the popular exam tips that appear throughout the publication, as well as the valuable ‘You be the Assessor’ sections at the end of each area of study and the detailed examination advice at the end of Part 2. The Study Guide will once again be released in two parts.  Part 1 will be released in January and covers material relating to Unit 3 of the VCAA Study Design, divided into areas of study 1, 2 and 3. Part 2 will be released in June and covers material relating to Unit 4, divided into areas of study 1 and 2. The later date for Part 2 has the advantage of incorporating the latest economic developments and statistics, including the 2023-24 Commonwealth Budget.

New author

CPAP would like to thank co-author, Toby Robertson, for his expert contributions to the publication over recent years.  Toby has decided to move on and pursue other endeavours, including spending more time with his family as well as travel.  Toby’s role as co-author has been taken on by Josh Verlin,  and we are excited to have him on board.  Josh is a young, energetic and passionate teacher of Economics, who also has experience in the private sector prior to teaching.  We are confident that Josh will add significant value to the publication and you can read Josh’s biography at the bottom of this page.    

The CPAP Study Guide places a strong emphasis upon preparation for assessment tasks, in particular, the end of year examination. it includes:

  • the most recent statistics for key economic variables in the economy, including the most recent Budget (unlike the texts);
  • details about major economic events or ‘shocks’ that have occurred over the recent past;
  • reference throughout the publication to ‘interpretation errors’ students should avoid in the examination, including the common mistakes made by students in recent examinations!;
  • updated information about the most recent direction of monetary, budgetary and aggregate supply policies;
  • a concise and easy to understand coverage of the course content;
  • hundreds of multiple choice questions;
  • ‘mini exams’ that will follow each area of study (five in total), complete with suggested responses at the end of the book;
  • review questions throughout the publication;
  • Section on current economic issues combined with exam style questions;
  • extensive ‘up to date’ examination advice at the end of Part 2 (Unit 4);
  • a bonus full length practice examination in Part 2 of the Study Guide; and
  • A new section following each area of study titled ‘You be the Assessor’ with analysis of sample responses.

Digital copies of CPAP textbooks and study guides can only be purchased exclusively from our partner providers Campion and Educational ebooks


Romeo Salla completed Honours and Masters degrees in Commerce (Economics major) at the University of Melbourne before moving to Canberra to work as an Economist with the Commonwealth Department of Treasury. After a few years he was promoted within the federal bureaucracy to the position of Senior Economist with the Industry Commission (now Productivity Commission). He has more than 20 years teaching experience (both VCE and IB) and is a respected writer and presenter for various organisations. He has held positions of responsibility with the Victorian Curriculum and Assessment Authority (VCAA) as an examination assessor since 1996 and was the long standing Economics editor on the VCTA website (ComNET). Mr Salla is also the founder of the website as well as the popular smartphone app ‘Economics Tutor’, has contributed to various publications and regularly presents to economics teachers and students on behalf of the VCTA and CPAP. Romeo is the author of the CPAP Study Guide to VCE Economics, co-author of Monumental Humanities 3 (Cambridge), and co-author of the VCE Economics texts ‘Economic Fundamentals in Australia’ and ‘Economics: from the ground up’ . He is also the writer of CPAP Economics assessment tasks practice examinations.

Josh Verlin completed a Bachelor of Commerce (Finance and Economics majors) before starting a career in finance in the midst of the Global Financial Crisis. He worked as a financial advisor and in business development roles before retraining to become a teacher in 2014. He currently works at McKinnon Secondary College where he teaches VCE Economics and VCE Business Management. Josh is a lover of all things economics and finance and is a self described ‘economics nerd’. He currently contributes to the Victorian Commercial Teachers Association publication (COMPAK), recently sat on the advisory panel for the new VCE Economics study design and assesses VCE Economics exams for the VCAA. He is also a co-writer of the Unit 1 and 2 CPAP Economics practice examinations and posts regular economics videos to Youtube for VCE students.

Departing in 2022

Toby Robertson was born in Switzerland and has lived in England, America, France and Australia. Toby completed a degree in Economics at the Australian National University in 1986. He then worked for CRA (Rio Tinto) in Melbourne as a client advisor to various business units on economics and Foreign Exchange. He moved to State Bank Victoria to work as a Foreign Exchange and Options advisor to large Corporations and was posted to London in 1990 as a Foreign Exchange Trader, speculating in the Foreign Exchange markets. In 1992 he began work with Chase Manhattan Bank in London (one of the largest US banks) as a Vice President and ran their USDYEN Foreign Exchange Desk. In 1995 he moved back to Australia to become Chief Dealer of Chase Sydney. In 1999 he accepted voluntary redundancy and then ran his own proprietary trading business before entering the teaching profession in 2005. He has since contributed to a number of educational publications, presents to teachers across Victoria on behalf of the Victorian Commercial Teachers’ Association and has assessed VCE Economics examinations for the VCAA.