Topic 1: The Global Economy

Course Content

Outcomes: By the end of this module, you will have thoroughly explored the global economy, its components, and the effects of globalisation. You will be able to compare, in depth, different economies influenced by globalisation, specifically Australia, China, Brazil, and Indonesia. Through the use of current statistics, examples, and case studies, you will be able to apply this information effectively to your HSC economics essays and short-answer questions.

Introduction to the Global Economy

HSC Syllabus: By the end of this chapter, you will understand the concept of the global economy and how in recent decades it has driven increased globalisation.

Trade, Financial Flows and Foreign Investment

HSC Syllabus: As you conclude this chapter, you will have developed an extensive understanding of trade in the global economy and the role of global governing bodies such as the WTO, IMF, and World Bank.

Protection in the Global Economy

HSC Syllabus: Explore the motivations behind, strategies for, and consequences of economic protection in Australia and the global economy. Gain insights into the role of tariffs, subsidies, and trade barriers, in affecting international trade and domestic industries.

Globalisations Effect on Economic Growth and Development

HSC Syllabus: Examine the impacts of globalisation on domestic and international economic growth and development. Understand how increasing globalisation affects various types of economies and their economic objectives.

Economic Case Studies

HSC Syllabus: Analyse case studies of China's, Brazil's, and Indonesia's economies to understand their unique economic growth and development paths. Explore how these emerging markets have pursued their national economic objectives.