Economics Revision

Year 12 Economics Revision Points for the Trial HSC
To help you organise your revision work, I have given you the hints for the Trial.
If you haven??™t completed the entire course you will need to read through the notes relevant to the hints i have given you.
Good luck with your revision
Section 1
Multiple choice
Some points on;
* Globalisation
* Australia??™s International competiveness
* Business cycle
* Aggregate Demand/Supply
* Budget deficit/finance
* RB intervention in exchange rates/depreciation/appreciation
* Calculation-Marginal propensity to C /participation rates, tariffs and their impact, Terms of Trade, Real GDP, Consumer Price Index, HDI,Multiplier
* Balance of Payments/credits/debit entry
* Benefits of microeconomic reform
Short answers
Relate answers to Australia??™s current economic conditions
1.Understanding of multiplier and its impact on national income, impact of economic growth on an economy, impact of domestic and global economy on economic growth
2Microeconomic reform/ why have it/ limitations/case study of microeconomic reform( use information from your assessment task)
3. Globalisation/ benefits/ negatives/ TNC impact on a country other than Australia/ strategies used to promote economic development in a country other than Australia
4.CAD/ know the items and how they impact on CAD/ consequences of foreign debt
Section 3
Extended Response
Look at the rubics and cover the points mentioned
You must refer to current conditions( 2009/10 and recent conditions(2007/10)
In your response
Chose 1 of 2 questions
Microeconomic policies and their impact on the Australian economy
Current Account deficits for Australia- and their implications
Section IV
The Australian federal budget??™s macroeconomic mix in addressing issues as inflation, unemployment
Impact of recent changes in the global economy on Australia??™s growth and external stability.

Any questions please call your Economic teacher
Maureen Murphy
Head Teacher