Economics Unit 4 WACE Notes | ATAR Survival Guide

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Economics ATAR Syllabus Notes

Year 12 - Economics Unit 4

Economic Policies and Management

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The Business Cycle

Concept of the Business Cycle

Characteristics of a Business Cycle

Business Cycle and Indicators

Topic Review: The Business Cycle

Business Cycle

Aggregate Expenditure Model

Aggregate Expenditure Model

Consumption & Factors

Consumption Function

MPC, MPS, APC and APS

Investment & Factors

Government Spending & Factors

Net Exports & Factors

Aggregate Expenditure Model

Topic Review: Aggregate Expenditure

Aggregate Demand and Aggregate Supply

Aggregate Demand and Supply Model

Concept of Aggregate Supply and Demand

Factors of Aggregate Demand

Factors of Aggregate Supply

Classical AD/AS Model

Keynesian AD/AS Model

Effects of Changes in Aggregate Demand

Effects of Changes in Aggregate Supply

Aggregate D&S Model and the B/Cycle

Topic Review: Aggregate Demand & Supply

Economic Policy Objectives

Economic Policy Objectives

Sustainable Economic Growth

Price Stability

Full Employment

Equitable Distribution of Income

Efficient Allocation of Resources

Conflicting and Complementary Objectives

Reserve Bank Objectives

Topic Review: Economic Policy Objectives

Fiscal Policy

Fiscal Policy

Concept of Fiscal Policy