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Microeconomic Policies and Environmental Management - HSC Economics

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Thorough, complete notes on microeconomics and environmental management. Provides all the knowledge one would need to tackle any short answer or essay question.

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19 Pages Partial Study Notes > 2 Years old
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Microeconomic Policies and Environmental Management - HSC Economics
Topics this document covers:
Economy Economics Monopoly Market structure Economics of regulation Market economics) Public economics Competition Economic efficiency Microeconomics Deregulation Microeconomic reform
This is a Partial Set of Study Notes

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Topics this document covers:
Economy Economics Monopoly Market structure Economics of regulation Market economics) Public economics Competition Economic efficiency Microeconomics Deregulation Microeconomic reform
Sample Text:
g. financial sector, overseas sector, households, firms) Rationale/Purpose • Microeconomic policies are policies aimed at individual industries, seeking to increase aggregate supply by improving the efficiency and productivity of producers. • The rationale for microeconomic policy is based on the long-term limitations of macroeconomic policy. o While macroeconomic policies affect aggregate demand and influence short- medium term growth, microeconomic policies affect aggregate supply and influence long-term growth. o MERs aim to increase the productive capacity or aggregate supply of the economy in order to facilitate long-term growth without increased inflationary pressures. o Microeconomic policies also influence long-term growth prospects as they ...
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