Economics Topic 4 - Economic Policies and Management
Economic Objectives in Relation To
Price Stability
External Stability
Full Employment
Environmental Sustainability
Economic Growth and Quality of Life
Distribution of Income
Potential Conflicts Among Objectives
Macroeconomic Policies
Rationale for Macroeconomic Policies
Stabilisation and Shifts in Aggregate Demand
Fiscal Policy
Effects of Budgetary Changes on Resource Use, Income Distribution and Economic Activity
Methods of Financing Deficits
Federal Government Budgets and Budget Outcomes
Use of a Surplus
Monetary Policy
Implementation of Monetary Policy by the RBA
Impact of Changes in Interest Rates on Economic Activity and the Exchange Rate
Purpose of Monetary Policy
Microeconomic Policies
Effects of Microeconomic Policies on Individual Product and Factor Markets, Individual Industries and the Economy
Regulation and Deregulation
Rationale for Microeconomic Policies Including Shifts in Aggregate Supply, Efficiency
Competition Policy
Labour Market Policies
Dispute Resolution
Arguments for and Against the use of Centralised, Decentralised and Individualised Methods of Determining Employment Contracts
The National System for Determining
Education, Training and Employment Programs
Role of National and State Systems
Awards
Enterprise Agreements
Minimum Wages
Minimum Employment Standards
Employment Contracts for Higher Income Earners
National and Global Context for Environmental Management
Targets
International Agreements
Market Based Policies
Regulations
Limitations of Economic Policies
Global Influences
Political Constraints
Time Lags
Policy Responses and Their Effects in Dealing with the Economic Objectives
Price Stability
External Stability
Full Employment
Distribution of Income
Economic Growth and Quality of Life
Environmental Sustainability