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Unit 4
Some argue that a significant factor behind the decline of Australia's car manufacturing is increasing global trade -- particularly the
reduction in trade barriers and protections. Presume this statement is true, and describe the positive and negative outcomes that this may have had for the Australian economy.
Unit 2
Define and provide an example each of the following types of government intervention, within the context of achieving ecological sustainable
development:
A) Voluntary action
B) Direct Regulation
C) Market-based mechanisms
We have new quarterly and annual inflation data, a bit higher than RBA forecasts at 1% and 3.6% respectively. Given were a few weeks away from both the Federal Budget, the next RBA Monetary Policy decision and the Stage 3 Tax cuts, there is no shortage of material for economic analysis. Regularly watching, reading and listening to economics news is one of the best ways to build capacity in your classrooms. If you've yet to dive in, try helping your students unpack the language, concepts and models that show up in real life. I call them "theory drops" -- phrases like "labour market becoming more competitive", "factors of production," "increasing demand" and many others are direct examples of comprehending, analysis and evaluation in our syllabus. Year 12s should be getting ready to elaborate on the references to interest rate cuts as well.
Here's one for the extra keen. Motley Fool (with the investment angle they usually have) has a really insightful piece mythbusting America's decline in manufacturing sector. It's a great read and example of strong analysis and evaluation of economic data. A classroom idea may be to then compare this with Australia, which also has a much-spoken about decline in manufacturing. Is the case the same in Australia? Is Australian manufacturing stronger than most people think?
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