HSC Topic One - The Global Economy
0 covered of 26 dot points
Lessons
Nothing written for this module yet. The dot points are listed beside this, so you can still see exactly what the module asks of you and take it to the official syllabus.
What the syllabus asks
Examine economic issues
examine the effects of globalisation on economic growth and the quality of life, levels of unemployment, rates of inflation and external stability
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assess the potential impact on the environment of continuing world economic development
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investigate the global distribution of income and wealth
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assess the consequences of an unequal distribution of global income and wealth
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discuss the effects of protectionist policies on the global economy
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Apply economic skills
analyse statistics on trade and financial flows to determine the nature and extent of global interdependence
not written yet · needs a worked example
assess the impact on the global economy of international organisations and contemporary trading bloc agreements
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evaluate the impact of development strategies used in a range of contemporary and hypothetical situations.
not written yet · needs a worked example
International economic integration
the global economy
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Gross World Product
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globalisation
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trade in goods and services
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financial flows
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investment and transnational corporations
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technology, transport and communication
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international division of labour, migration
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the international and regional business cycles
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Trade, financial flows and foreign investment
the basis of free trade - its advantages and disadvantages
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role of international organisations - WTO, IMF, World Bank, United Nations, OECD
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influence of government economic forums - G20, G7/8
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trading blocs, monetary unions and free trade agreements
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advantages and disadvantages of multilateral (EU, APEC, NAFTA, ASEAN) and bilateral agreements
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Protection
reasons for protection - infant industry argument, domestic employment, dumping, defence
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methods of protection and the effects of protectionist policies on the domestic and global economy - tariffs, subsidies, quotas, local content rules, export incentives
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Globalisation and economic development
differences between economic growth and economic development
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distribution of income and wealth
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income and quality of life indicators
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developing economies, emerging economies, advanced economies
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reasons for differences between nations
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effects of globalisation
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trade, investment and transnational corporations
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environmental sustainability
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the international business cycle.
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Case study
Undertake a case study of the influence of globalisation on an economy other than Australia, including an evaluation of the strategies used to promote economic growth and development in this economy.
not written yet
Wording is the official syllabus, read from the NESA document by a parser. The full document.