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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.


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12. Explain how falling world commodity prices might impact on the value of the exchange rate. 3 marks

13. Define the goal of external stability in Australia. 2 marks

14. Describe the difference between private foreign debt and public foreign debt as part of Net Foreign Debt. 2 marks

15. Describe the difference between Net Foreign Debt and Net Foreign Liabilities. 2 marks

16. Discuss how the recent natural disasters in Australia and the associated disruptions to transport networks contributed to an increase in the terms of trade (TOT). 2 marks

17. Explain why strong growth in China helps to boost the Terms of Trade in Australia 3 marks

17. Explain why strong growth in China helps to boost the Terms of Trade in Australia 3 marks

18. Explain how lower superannuation tax concessions might impact on national savings and external stability. 4 marks

17. Explain why strong growth in China helps to boost the Terms of Trade in Australia 3 marks

19. Explain how a stronger terms of trade might impact on the achievement of external stability in Australia. 5 marks

17. Explain why strong growth in China helps to boost the Terms of Trade in Australia 3 marks

20. Explain how an increase in the Trade Weighted Index (TWI) is likely to worsen the balance on goods and services (BOGS) 3 marks

11. Discuss how a global financial crisis might have a negative impact on the current account deficit (CAD) in Australia. 4 marks