4750 - Achieve success at school with expert teaching

Ph: (08) 9314 9500 Email Enquiry

Economics Year 12 ATAR Course Study Guide

Economics Year 12 ATAR Course Study Guide
Enlarge Image

Written by Andrew Tibbitt

ISBN 978-1-876918-71-2

CONTENTS

UNIT 3 - Australia and the Global Economy
1. Global Interdependence
2. Free Trade
3. Protection
4. Pattern of Trade
5. Balance of Payments
6. Terms of Trade
7. Exchange Rates
8. Foreign Investment

UNIT 4 - Economic Polices and Management
9. Business Cycle
10. Aggregate Expenditure
11. Aggregate Demand and Aggregate Supply
12. Policy Objectives
13. Fiscal Policy
14. Monetary Policy
15. Structural Change
16. Measures to Improve Productivity


UNIT 3 TRIAL TEST
UNIT 4 TRIAL TEST
SOLUTIONS TO STUDENT ACTIVITY QUESTIONS
SOLUTIONS TO REALITY CHECK QUESTIONS
SOLUTIONS TO TRIAL TESTS

TO THE STUDENT


This book is a Study Guide designed to help students meet the requirements of the WACE Economics ATAR Course Year 12 syllabus.

Organisation
Economics is one of a number of human or social sciences whose aim is to investigate, understand and predict human behaviour. The central theme of economics is how societies go about raising the material standard of living or wellbeing of their members given a limited supply of resources.

The Year 12 syllabus is divided into two units; Unit 3 is titled Australia and the Global Economy and Unit 4 is titled Economic Polices and Management.

The focus of the Australia and the Global Economy unit is the interdependence of Australia and the rest of the world. Australia is a relatively open economy and, as such, is influenced by changes in the world economy. The main topics in the unit are globalisation, trade liberalisation and protection in relation to the Australian economy, Australia’s pattern of trade, the recording of international transactions and the impact of these transactions on the Australian economy. Recent (the last ten years) and contemporary (the last three years) economic data and appropriate economic terminology, theories and models are used throughout the unit.

The themes of the Economic Policies and Management Unit are the economic objectives of the Australian Government and the fiscal policy, monetary policy and economic reform measures taken to achieve these objectives. Changes in the level of economic activity influence the policy mix and the government’s capacity to achieve its objectives. Recent (the last ten years) and contemporary (the last three years) economic data and appropriate economic terminology, theories and models are used throughout the unit.

Three general outcomes
Outcome 1 – Economic Inquiry: Students will be able to find and use economic information to show they understand economic events, issues and decisions, using appropriate economic terms, concepts and models
Outcome 2 – The Operation of the Economy: Students will develop an understanding of the key factors that affect the way the economy operates and the consequences of economic choices.
Outcome 3 – Economic Policy and Action: Students will be able to explain how Government intervention affects the performance of the economy.

The subject framework
There are a number of parts to the framework of Economics.

  •  Concepts and Language: Concepts are thoughts, ideas or notions on which knowledge can be built. There are a number of key economic concepts such as opportunity cost, elasticity and a market. It is important to use correct economic terms when you share your economic understanding. Mathematical and statistical techniques: Simple mathematical and statistical techniques are used to measure and communicate economic information but the results are not always as precise as economists pretend.
  • Methodology: Some economic knowledge is based on models that are simplified versions of the real world based on assumptions about how people behave and other factors affecting the situation. For example, economic people are assumed to be rational and to aim for maximum wellbeing. Economic theories are developed from these models, and, if the theories can be shown to be valid, they become economic laws. Be prepared, however, to come across exceptions to a number of economic laws. Other economic knowledge is based on generalisations made from the direct observation of human behaviour.
  • Personal Knowledge: Economists are directly involved in their subject, being both economic agents, as consumers and producers for example, and as individual members of society with particular beliefs and ideologies, so the observer is part of the system.
  • Knowledge issues: Be prepared to find exceptions to many economic laws, for people to exercise their free will and to act less predictably than economists assume will be the case, for people to be biased and to have opinions and for rival models of economic behaviour to produce contradictory theories and predictions. These issues are what make economics interesting.


The Author

Andrew Tibbitt is an experienced economics teacher and author, having taught both WACE Economics and the International Baccalaureate Diploma at year 11 and 12 levels and written a number of economics textbooks and journal articles. He is a life member of the Western Australia Economic Teachers’ Association and has been involved with both syllabus development and as an assistant examiner over many years.

 


Price: $54.00 AUD inc GST
Quantity   You can always remove it later.
Back to List | Tell a Friend

Other great products from our Range

Physics Year 12 ATAR Course Study Guide
Physics Year 12 ATAR Course Study Guide
$54.00 AUD
Solutions Manual Mathematics Methods Year 12 ATAR Course
Solutions Manual Mathematics Methods Year 12 ATAR Course
$140.00 AUD
Biology Year 12 ATAR Course Study Guide
Biology Year 12 ATAR Course Study Guide
$54.00 AUD
Mathematics Spec. Year 12 ATAR Course Textbook
Mathematics Spec. Year 12 ATAR Course Textbook
$80.00 AUD
Mathematics Spec. Year 12 ATAR Course Revision Series
Mathematics Spec. Year 12 ATAR Course Revision Series
$54.00 AUD
Mathematics Spec. Year 12 ATAR Course Study Guide
Mathematics Spec. Year 12 ATAR Course Study Guide
$49.00 AUD
Physics Year 12 ATAR Course Revision Series
Physics Year 12 ATAR Course Revision Series
$54.00 AUD
Mathematics Methods Year 12 ATAR Course Study Guide
Mathematics Methods Year 12 ATAR Course Study Guide
$49.00 AUD
Mathematics Methods Year 12 ATAR Course Revision Series
Mathematics Methods Year 12 ATAR Course Revision Series
$54.00 AUD
Mathematics Applications Yr 12 ATAR Course Revision Series
Mathematics Applications Yr 12 ATAR Course Revision Series
$54.00 AUD
Mathematics Applications Year 12 ATAR Course Study Guide
Mathematics Applications Year 12 ATAR Course Study Guide
$49.00 AUD
Human Biology Year 12 ATAR Course Study Guide
Human Biology Year 12 ATAR Course Study Guide
$54.00 AUD
Human Biology Year 12 ATAR Course Revision Series
Human Biology Year 12 ATAR Course Revision Series
$45.00 AUD
Solutions Manual Mathematics Spec. Year 12 ATAR Course
Solutions Manual Mathematics Spec. Year 12 ATAR Course
$140.00 AUD
Chemistry Year 12 ATAR Course Study Guide
Chemistry Year 12 ATAR Course Study Guide
$54.00 AUD
Accounting and Finance Year 12 ATAR Course Study Guide
Accounting and Finance Year 12 ATAR Course Study Guide
$49.00 AUD
Psychology Year 12 ATAR Course Study Guide
Psychology Year 12 ATAR Course Study Guide
$45.00 AUD
Mathematics Methods Year 12 ATAR Course Textbook
Mathematics Methods Year 12 ATAR Course Textbook
$80.00 AUD
Chemistry Year 12 ATAR Course Revision Series
Chemistry Year 12 ATAR Course Revision Series
$54.00 AUD
 
 

Calendar of Programs Calendar of Programs

More Information

Contact Details

Academic Task Force Ph: (08) 9314 9500
Fax: (08) 9314 9555
Mail: Office: 872 Canning Highway Applecross WA See Map

Copyright © 2017 Academic Task Force All Rights Reserved  |  GTP Web Design Perth