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

21. Discuss why an increase in the Terms of Trade (TOT) might improve 'equity in the distribution of income'. 3 marks

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

22. Explain how the pursuit of a more equitable distribution of personal income might impact negatively upon economic growth. 4 marks

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

23. Discuss one possible economic benefit associated with a more inequitable distribution of income. 3 marks

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

24. Explain why lower rates of unemployment are likely to assist with greater equity in personal income distribution. 2 marks