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HSC Economics - Topic 1

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This set of notes covers topic 1 of HSC Economics. It thoroughly covers the theory, but does not include much of the current stats.

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26 Pages Complete Study Notes > 2 Years old
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Topics this document covers:
Economy International trade Globalization Economic integration Economy of Asia Competitiveness Global financial system Foreign direct investment Economic growth World economy Economic development Market
This is a Complete Set of Study Notes

Complete Study Notes typically cover at least half a semester’s content or several topics in greater depth. They are typically greater than 20 pages in length and go into more detail when covering topics.

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Topics this document covers:
Economy International trade Globalization Economic integration Economy of Asia Competitiveness Global financial system Foreign direct investment Economic growth World economy Economic development Market
Sample Text:
conomy- where the economies of individual countries are linked to each other and changes in a single economy can have a ripple effect on others • Economies more closely integrated – linkages are stronger than befmore • Globalisation – refers to the integration between different countries and economies and the increased impact of international influences on all aspects of life and economic activity ➢ Can also be indicated by social and cultural trends Gross World Product • Refers to the sum of total output of goods and services by all economies in the world over a period of time ➢ In 2014 GWP totalled $74 US trillion • Purchasing Power Parity (PPP) refers to the ways in which individual economy’s GDP are measured and converted into different currencies Globalisation Trade in Goods and Services • Measure of how goods and services produced in an economy are con...
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