Economics (Year 12)

WACE

Unit 3, Unit 4

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Unit 1

Economic Basics
Market Efficiency
Markets
Market Failure
Supply, Demand and Equilibrium
Government Policies
Elasticity

Unit 2

Macroeconomic Activity
Unemployment
The Business Cycle - Unit 2
Balance of Payments - Unit 2
Economic Growth
The Public Sector
Inflation
Macroeconomic Performance

Unit 3

Global Interdependence
Terms of Trade
Free Trade and Protection
Exchange Rate
Pattern of Trade
Foreign Investment
Balance of Payments

Unit 4

The Business Cycle
Fiscal Policy
Aggregate Expenditure Model
Monetary Policy
Aggregate Demand and Supply Model
Structural Change
Economic Policy Objectives
Productivity