Key Economic Skills (HSC SSCE Economics): Flashcards
📚Flashcards
Practise the cards
10 cards from this deck
ShowHide
Practise the cards
10 cards from this deck
Why interpret economic data?
Why interpret economic data?
Evaluate performance, assess policies, identify trends
Six categories of economic data sources
Six categories of economic data sources
Govt agencies, intl orgs, financial inst, research, media, community
Key Australian govt sources for economic data
Key Australian govt sources for economic data
ABS, RBA, Treasury, Productivity Commission
Major international economic organisations
Major international economic organisations
World Bank, IMF, WTO, OECD
What to examine when analysing global interdependence
What to examine when analysing global interdependence
Trade pace/volatility, regional links, composition/direction changes
Indicators for evaluating development success
Indicators for evaluating development success
GDP, income distribution, poverty, HDI, environment, health/education
Economic concepts for analysing environmental issues
Economic concepts for analysing environmental issues
Market failure, externalities, government intervention
Key environmental issues facing Australia
Key environmental issues facing Australia
Climate change, pollution, biodiversity, sustainable water use
Steps to analyse economic policies
Steps to analyse economic policies
Identify problem, explain mechanism, assess results, propose options
What is an appropriate policy mix?
What is an appropriate policy mix?
Combination of fiscal, monetary & microeconomic reform policies