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HSC Economics - Topic 1

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This document provides study notes for topic 1 of HSC economics syllabus - The Global Economy.

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18 Pages Partial Study Notes > 2 Years old
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HSC Economics - Topic 1
Topics this document covers:
Economy International trade Trade and development Transition economy Balance of payments Economic integration Globalization Competitiveness Balance of trade Free trade International economics Economy of Canada
This is a Partial Set of Study Notes

Partial Study Notes typically cover only single topics of a unit of study or do not cover multiple topics in significant detail. They are generally less than 20 pages in length.

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Topics this document covers:
Economy International trade Trade and development Transition economy Balance of payments Economic integration Globalization Competitiveness Balance of trade Free trade International economics Economy of Canada
Sample Text:
increased trade and investment and rising standard of living Main Forms of economic integration incl. : 1. Free Trade Area- abolishment of trade restrictions between member countries but retain restrictions to non- member countries e.g. NAFTA 2. Customs Union- abolishment of trade union between member countries and creation of common trade restrictions against non-member countries 3. Common Market- similar features of customs union but also free movement of labour and G+S 4. Monetary Union- features of common market, and also common currency and consists of a single, central bank The IMF (International Monetary Fun...
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