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ECONOMICS  Unit 4: Contemporary macroeconomics Topic 2: Economic management Sub-topic C: Supply-side policies describe the nature, operation and aims of aggregate supply policies (microeconomic reforms), and explain their relationship to domestic macroeconomic objectives analyse at least one recent supply-side policy aimed at improving Australia’s economic growth through efficiency or competitiveness, including at least one of the…

ECONOMICS Stage 2 Thinking Like an Economist Economic inquiry skills  Use an inquiring, critical, and thoughtful approach to their study of economics. Investigate scenarios and economic problems through: applying principles, models, and terminology appropriately in a variety of economic contexts  analysing the rationale for economic decisions and evaluating their intended and unintended consequences  communicating…

ECONOMICS LEVEL 3 Unit 2: Economic Management Management Policies Economic knowledge Microeconomic policy – a tool for improving economic efficiency intergenerational equity and inequality. Economic reasoning Impact of different fiscal policy stances on the level of economic activity  Demonstration and explanation of the impact of microeconomic reform on aggregate supply and macroeconomic equilibrium. Economic decision-making…

ECONOMICS Unit 4: Managing the Economy Area of Study 2: Aggregate supply policies  Outcome 2 On completion of this unit the student should be able to discuss the nature and operation of aggregate supply policies and analyse how the policies may influence the Australian Government’s domestic macroeconomic goals and living standards. Key knowledge the nature, operation and aims of aggregate supply policies and their relationship to…

ECONOMICS GENERAL COURSE Unit 3 – Microeconomics  Economic knowledge and understanding Effects of government policies the effects of a tax on a market the effects of a subsidy on a market. Economic research select appropriate print and electronic media sources of economic information and data on markets apply appropriate methods of recording and organising microeconomic information, including spreadsheets, graphs and tables…

ECONOMICS Unit 2: Economics Unit 3: Economics Macroeconomic Theories  A Course Nature and purpose of economics discuss the relationship between economic events and outcomes (ECOA05). Types and forms  explain the consequences of contemporary economic issues on individuals, firms and governments (ECOA08). Issues, perspectives and viewpoints identify and describe trends and patterns, infers relationships, and makes…

ECONOMICS Topic 4: Economic Policies and Management Apply economic skills explain, using economic theory, the general effects of macroeconomic and microeconomic policies on an economy. Students learn about: Microeconomic policies rationale for microeconomic policies including shifts in aggregate supply, efficiency effects of microeconomic policies on individual product and factor markets, individual industries and the economy.…

ECONOMICS  Unit 4: Contemporary macroeconomics Topic 2: Economic management Sub-topic C: Supply-side policies describe the nature, operation and aims of aggregate supply policies (microeconomic reforms), and explain their relationship to domestic macroeconomic objectives through efficiency or competitiveness, including at least one of the following initiatives: welfare and taxation reform evaluate the effectiveness of supply-side…