SSEC19.1.1 Tasmania mapping

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

  • Demonstration and explanation of the impact of microeconomic reform on aggregate supply and macroeconomic equilibrium.

Economic decision-making

  • Impact of microeconomic reform (e.g. taxation) on aggregate supply and macroeconomic equilibrium.

Economic policy and action

  • The challenges governments experience when implementing economic policy – conflicting objectives, limitations of data, lags, international forces, political factors. 

Unit 4: Investigation into a Contemporary Economic Issue

Economic Issue 2: Income and Wealth Distribution in Australia

Focus

  • Market outcomes can produce inequity. Economic policy can play a role in altering income and wealth distribution.

Key ideas

  • Taxation
  • Fiscal policies, intergenerational policies, microeconomic policies, regulations.