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Topic 4 - Economic Policies and Management

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Course notes for topic 4 HSC economics, all syllabus dot points covered with key definitions

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32 Pages Complete Study Notes < 1 Year old
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Topics this document covers:
Economy Macroeconomics Money Monetary policy Inflation NAIRU Phillips curve Full employment Interest rate Fiscal policy Money supply Official cash rate
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 Macroeconomics Money Monetary policy Inflation NAIRU Phillips curve Full employment Interest rate Fiscal policy Money supply Official cash rate
Sample Text:
c growth and quality of life Reasons why government aims to achieve this: - An increased standard of living for the population due to rises in per capita income - Improved job prospects for the labour force, reducing future unemployment - The opportunity for increased infrastructure and public services investment through higher government tax revenues - Increased technological progress adding the economy’s long term productive capacity - Allows for more opportunities to realize the gains from free trade - Hence, EG contributes to the general wellbeing of households - A higher quality of life means there are more resources available for other contributors to QOL Full employment - while this involves the full use of resources, this is generally meant as full employment of labour ➢ this prevents social and economic problems of unemployment - Does not mean that there is no e...
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