 Topic Three — Economic Issues

 Examine the arguments for and against increasing economic growth rates.
 Analyse the economic and social problems created by unemployment.
 Analyse the impacts of inflation on the Australian economy.
 Outline the causes of inflation in the Australian economy.
 Examine the consequences of high levels of unemployment and high levels of
inflation on the Australian economy.
 Discuss the benefits and costs of low inflation for the economy.
 Analyse the effect of a continued current account deficit on the Australian
economy.
 Examine recent trends in the distribution of income in Australia and the
impact of specific economic policies on this distribution.
 Outline how income and wealth are distributed in Australia.
 Analyse the economic and social costs and benefits of inequality in the
distribution of income.
 Identify some of the main environmental issues currently facing the
Australian economy, and suggest economic solutions to them.
 Examine the economic issues associated with the goal of ecologically
sustainable development.
 With reference to a contemporary environmental issue, analyse the economic
arguments for and against resource exploitation.
 Explain the private and social costs and benefits of environmental
management, making reference to at least one Australian environmental
issue.
 Analyse the impact of globalisation on the economic growth, quality of life
and external stability of global economies
 Explain the main causes of inflation, the effects of inflation and government
policy initiatives to reduce inflation
 Discuss the policies which Australian governments have used to address the
issue of distribution of income and wealth.
 Examine recent trends in the distribution of income in Australia and the
impact of specific economic policies on this distribution.
 Outline how income and wealth are distributed in Australia.
 Analyse the economic and social costs and benefits of inequality in the
distribution of income.
 Analyse the factors influencing movements in the Australian dollar in recent
years and explain how exchange rate movements affect trade and financial
flows in Australia.
 Analyse the impact of protectionist policies on the domestic and global
economies
 Discuss the impacts of globalisation on an economy that you have studied in
relation to its economic development.
 Analyse the impact of globalisation on economic growth, quality of life and
external stability on an economy other than Australia.
 Discuss the strategies used by either the Australian economy, or an economy
other than Australia, to promote economic growth and development.
 Explain how the Reserve Bank uses domestic market operations to change
the cash rate in Australia.
 Analyse the impact of an increase in the cash rate on economic growth in
Australia.
 Discuss the impact of labour market policies on the unemployment rate in
the Australian economy.
 Discuss the impact of economic growth on Australia's balance of payments.