Course Structure
Topic 4: Economic Policies and Management
Economics Syllabus
- demonstrates understanding of economic terms, concepts and relationships
- analyses the economic role of individuals, firms, institutions and governments
- discusses alternative policy options for dealing with problems and issues in contemporary and hypothetical contexts
- analyses the impact of economic policies in theoretical and contemporary Australian contexts
- evaluates the consequences of contemporary economic problems and issues on individuals, firms and governments
- selects and organises information from a variety of sources for relevance and reliability
- communicates economic information, ideas and issues in appropriate forms
- applies mathematical concepts in economic contexts
- works independently and in groups to achieve appropriate goals in set timelines.
Course Content
Outcomes: As you conclude this module, you will have further increased your understanding of Australian economic policies and management. This includes analysing and exploring micro and macroeconomic policies such as fiscal and monetary policies. Through the use of current statistics, examples, and case studies, you will be able to effectively apply this information to your HSC economics exams.
The Objectives of Australian Economic Policy
HSC Syllabus: Understand the key objectives of Australian economic policy, including growth, employment, stability, sustainability, and income distribution. Explore potential conflicts between these goals and their implications for Australia's economy.
- Economic Growth and Quality of Life
- Full Employment
- Price Stability
- External Stability Objectives
- Environmental Sustainability Objectives
- The Distribution of Income Objectives
- Potential Conflicts Among Objectives
Macroeconomic Policies
HSC Syllabus: Explore the rationale behind macroeconomic policies, focusing on stabilisation and shifts in aggregate demand. Learn about fiscal and monetary policy in the context of HSC Economics.
Fiscal Policy
- The Importance of Fiscal Policy
- Federal Government Budgets and Budget Outcomes
- The Effects of Budgetary Changes
- Methods of Financing Deficits
Monetary Policy
Microeconomic Policies
HSC Syllabus: Discover key microeconomic policies in Australia: labour market regulations, environmental initiatives, and competition strategies. Learn how these policies shape markets, industries, and economic efficiency.