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  1. Introductory concepts
  2. Market mechanism
  3. Elasticities  
  4. Market structures
  5. Market failures
  6. Macro activity/eco growth
  7. Inflation
  8. Employment & unemployment
  9. External Stability
  10. Income distribution
  11. Factors affecting economy
  12. Fiscal/Budgetary policy
  13. Monetary Policy
  14. Aggregate Supply Policies
  15. The Policy Mix
  16. Course revision


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 Course notes quick navigation

1 Introductory concepts 2  Market mechanism  3 Elasticities  4 Market structures 5  Market failures  6  Macro economic activity/eco growth  7 Inflation 8  Employment & unemployment  9  External Stability  10  Income distribution 11.Factors affecting economy  12  Fiscal/Budgetary policy  13  Monetary Policy   14 Aggregate Supply Policies  15 The Policy Mix


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How you are marked


The maximum score for each question is 100%. For every hint used, your percentage score is reduced by the ratio of that letter to the total letters required in the answer. For example, if the total number of letters within the gaps is 50 across the whole response, then each letter is worth 2 percentage points. Each hint will therefore reduce your score by 2 percentage points.


21. Explain how lower interest rates are likely to impact on the market for new homes (3 marks)

22. Discuss how the demand, supply and price of airline services is likely to be affected if a major airline competitor decided to exit the market. (2 marks)

23. Discuss how the market for building materials is likely to be affected following the Queensland floods. (2 marks)

25. Outline how a reduction in transport congestion in capital cities might help to improve productivity within the Australian economy. (2 marks)

24. Briefly discuss what is meant by an efficient allocation of resources. (2 marks)

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26. In the market for new houses, discuss two separate factors that may account for the supply curve shifting to the right and examine the impact on the housing market. (4 marks)