HSC Topic Four - Economic Policies and Management
0 covered of 41 dot points
Lessons
Nothing written for this module yet. The dot points are listed beside this, so you can still see exactly what the module asks of you and take it to the official syllabus.
What the syllabus asks
Examine economic issues
analyse the opportunity cost of government decisions in addressing specific economic problems or issues
not written yet · needs a worked example
investigate structural changes in the Australian economy resulting from microeconomic policies
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apply economic theory to explain how a government could address an economic problem or issue in hypothetical situations
not written yet · needs a worked example
analyse alternative ways to finance a budget deficit
not written yet · needs a worked example
Apply economic skills
explain how governments are restricted in their ability to simultaneously achieve economic objectives
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use (simple) multiplier analysis to explain how governments can solve economic problems
not written yet · needs a worked example
identify limitations of the effectiveness of economic policies
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explain the impact of key economic policies on an economy
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propose and evaluate alternative policies to address an economic problem in hypothetical and the contemporary Australian contexts
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explain, using economic theory, the general effects of macroeconomic and microeconomic policies on an economy
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select an appropriate policy mix to address a specific economic problem.
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Economic objectives in relation to:
economic growth and quality of life
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full employment
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price stability
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external stability
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environmental sustainability
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distribution of income
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Potential conflicts among objectives
Potential conflicts among objectives
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Macroeconomic policies
rationale for macroeconomic policies - stabilisation and shifts in aggregate demand
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Fiscal policy
Federal Government budgets and budget outcomes
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effects of budgetary changes on resource use, income distribution and economic activity
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methods of financing deficits
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use of a surplus
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Monetary policy
purpose of monetary policy
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implementation of monetary policy by the Reserve Bank of Australia
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impact of changes in interest rates on economic activity and the exchange rate
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Microeconomic policies
rationale for microeconomic policies including shifts in aggregate supply, efficiency
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effects of microeconomic policies on individual product and factor markets, individual industries and the economy
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regulation and deregulation - competition policy
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Labour market policies
role of national and state systems
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the national system for determining
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minimum employment standards
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minimum wages
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awards
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enterprise agreements
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employment contracts for high income earners
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dispute resolution
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arguments for and against the use of centralised, decentralised and individualised methods of determining employment contracts
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education, training and employment programs
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National and global context for environmental management
regulations
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market-based policies
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targets
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international agreements
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Limitations of economic policies
time lags
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global influences
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political constraints
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Policy responses and their effects in dealing with the economic objectives
economic growth and quality of life
not written yet
full employment
not written yet
price stability
not written yet
external stability
not written yet
distribution of income
not written yet
environmental sustainability.
not written yet
Wording is the official syllabus, read from the NESA document by a parser. The full document.