Introduction
Unit 1
Unit 2
Unit 3
Unit 4
Statistics
ComNET Economics Classroom
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Unit
4: Economic management
The focus of this unit is the study of the management of the Australian economy, which concentrates on budgetary/fiscal, monetary and microeconomic reform policies.
Areas of Study
1. The nature, operation and evaluation of macroeconomic policies
Budgetary/fiscal policy and monetary policy are two macroeconomic policies used in Australia to manage the level of activity in the economy. Students will develop understandings about how these policies operate to achieve desired outcomes in relation to the achievement of the economic objectives of the Australian economy. Students will develop a general knowledge of the operation of these policies over the last ten years and a more detailed understanding of the operation of the policies over the last three years. Students should be equipped to make informed predictions about the operation of these policies for the short-term based on an analysis of current key economic trends. Students will apply the language, theories and tools of economics to develop a critical perspective about the role of these policies in the current government policy mix.2. The nature, operation and evaluation of microeconomic reform policies
Microeconomic reform policy is focused on the supply side of the economy and is a long-term process aimed at improving the efficiency and competitiveness of Australian firms, industries and markets. Students will develop understandings about how a range of microeconomic reform policies operate to achieve desired economic outcomes in relation to the achievement of the economic objectives of the Australian economy. Students will develop a general knowledge of the operation of these policies over the last ten years and a more detailed understanding of the operation of the policies over the last three years. Students will apply the language, theories and tools of economics to develop a critical perspective about the role of these policies in the current government policy mix.Assessment
School-assessed coursework for Unit 4 will contribute 25 per cent to the study score. The level of achievement for Units 3 and 4 is also assessed by an end-of-year examination, which will contribute 50 per cent to the study score.