Introduction

Unit 1

Unit 2

Unit 3

Unit 4

Statistics

ComNET Economics Classroom

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Unit 2: Australia and the global economy

The focus of this unit is the study of Australia's external relationships and economic issues of importance in the global economy in the twenty-first century.

Areas of Study
Australia's external relationships
Australia's external trading and investment relationships have a major impact on the standard of living of Australian citizens and on the stability of the Australian economy. This impact is crucial to Australia's prosperity in the global economy in the twenty-first century. Understandings of these external relationships will be developed through an exploration of the key economic concepts, principles, theories and models which apply to Australia's economic relationships with the rest of the world, as well as through the use of a case study of one of Australia's trading partners, for example, Indonesia, China, India or Japan.

Economic globalisation
Globalisation is a widely used term in public discussion. It summarises major changes in international relationships. The opportunity to explore the concept of globalisation and investigate global issues provides students with an understanding of the impact of globalisation. This can assist the choices and economic decisions students make now and in the future. Students will use economic principles, models and methods of inquiry to explore the meaning of the concept of globalisation and explore the social, environmental and ethical dimensions of economic decision-making in a global context.

Assessment