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File: Hsc Economics Textbook Pdf 127288 | 2021 Package Flyer
economics packages 2021 the textbooks follow the nsw economics syllabus and include updated statistics economic conditions and policies order new and updated for 2021 now including the impact of the ...

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             ECONOMICS PACKAGES 2021
              The Textbooks follow the NSW Economics Syllabus and include updated statistics, economic conditions and policies
          ORDER  NEW AND UPDATED FOR 2021
            NOW! Including the impact of the COVID-19 pandemic on the global and Australian economies
                                                  NEW Year 12 Package Textbook + Workbook                               $99
                                                   ISBN 978-0-6485896-2-4  • New 22nd Edition                            GST inc
                                     YEAR 12 TEXTBOOK INCLUDES:                                     YEAR 12 WORKBOOK INCLUDES: 
                                     1. The Global Economy                                          •  HSC Economics Exam Technique
                                     2.  Australia’s Place in the Global Economy                    For all four topics there are:
                                     3. Economic Problems and Issues                                • 20 Multiple Choice Questions
                                     4. Economic Policies and Management                            •  4 Short Answer Questions
                                     •   Short Answer, Extended Response and                        •  2 Extended Response Questions 
                                       Focus Questions                                              • 1 Extension Question
                 CD COPY OF          •   Chapter Summaries  
                      OOK                                                                           •  Suggested Answers and Solutions 
                 TEXTB
                      OSED
                  ENCL               •  Glossary and Index                                            for all Questions
                                                  NEW Year 11 Package Textbook + Workbook                               $94
                                                   ISBN 978-0-6485896-4-8 • New 22nd Edition                             GST inc
                                     YEAR 11 TEXTBOOK INCLUDES:                                      YEAR 11 WORKBOOK INCLUDES: 
                                     1. Introduction to Economics                                    • The Economist’s Toolkit 
                                     2. Consumers and Business                                       For all six topics there are:
                                     3. Markets                                                      • 20 Multiple Choice Questions
                                     4. Labour Markets                                               •  2 Short Answer Questions
                                     5. Financial Markets                                            • 2 Extended Response Questions 
                                     6.  Government and the Economy                                  • 1 Extension Question
                                     •   Short Answer, Extended Response and                         •  Suggested Answers and Solutions 
                 CD COPY OF 
                       OOK              Focus Questions  
                 TEXTB
                      OSED                                                                             for all Questions
                  ENCL               •   Chapter Summaries
                                     •  Glossary and Index
                             Buy the Year 11 and Year 12 Economics Textbook and Workbook Packages and Save $23
         2021 Package flyer.indd   12021 Package flyer.indd   1                                                                 6/7/20   12:15 pm6/7/20   12:15 pm
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  uch                      T                                                                                   changes in competitiveness in the 2000s in Figure 4.8 in your answer
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                                                                                                                                                                                                                                                                                                                                                                                        AUSTRALIA                                                                                                                                                                                                                                                                                                                                                                                                                                                   countries                     str                     .                      such                                                                national competitiveness impact on Australia’
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
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                                                                                                                   the NSW Economics                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    higher                    for                   s 
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             55%                                                                   ear to May 2011)                                                               	                                                              ms of trade index is measured and interpreted. 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    n to                                                                                                                         USA 3.8%                                                                                                                  - Coking coal                           	(33%)	                          Base                                                                                                           net                                                                                       .
                                                                                                                                                                                                                                                                                                                                                                                               THE GLOBAL                                                                                                                                                                                                                                                                                                                                                                                                                                                                 	metals	                                                                               6.                    	foreign
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          opic 2 of the                                                                                                                                                                                                                                                   - Ther                            19% (47%)                              Gold	                          -14%	(-12.6%)                                                        How is Australia’ 	liabilities
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              	
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                                                                                                                   Syllabus and include                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Other 12%                                                                                                                     mal coal                                                                                                                                                                                                      and
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                            s place in the global economy and the effect of for                                                                                                                                                                                          or                                                              Rural                            -12% (26%)                             Brent crude oil                       0%                                                      7.                                                                  	between                able 4.12.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                egion                                                                                                                                                                                       	(20%)
                                                                                                                                                                                                                                                                                                                                                                                                  ECONOMY                                                                                                                                                                                                                                                                                                      r                                                                                                                                                                                                                                                     How may the accumulation of a large net foreign debt impose economic costs on Australia?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       major 
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       vices,                                ding                                                                                                                       2% (48.6%)                                                                                                                                                                                                                  	foreign
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      accor               accounted                                                                                                                                                                                   -7% (30%)                                              8. 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         2018-19                 which                    to                                                           Source: Reser                                                                                                                                                               Discuss the benefits and costs of foreign investment in Australia.                          	debt                                    s 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      in                  ong,                    5.7% 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             rade in Goods and Ser          exports                     K                                                                                                              ve Bank of Australia (2011 and 2019),                                                                                                                                                                                  able 4.14 in your answer                	and
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                                                                                                                                                                                                                                                                                                                                                                                                        TOPIC FOCUS                                                                                                                                                                                               national T                             ’                     H                    countries;                                                                                                                                                                                                                                             9.                                                                                                               	net
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Inter                                                       and                                           East,                                                                                                                                   Reser                                                                                                                                                                                                             	
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        s growing stock of net foreign 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                ustralia                                                                                                                                                                                                                                                                                                                                                                                                                          foreign
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              A                  aiwan                   ASEAN                  iddle                                                                                                                                                 ve Bank Index                                                                              Which countries are the main sources of foreign investment in Australia?
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                                                                                                                                                                                                                                                                                                                                                                                                          This topic focuses on an examination of Australia’                                                                                                                                                                                            or                    the                                           in 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Source: ABS (2019),                                              K                    to                    ope,                                                                           The 
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  s trade and financial flows;                                                                  major                       J                   ts w                 Asia,                    to 35.6%                                                                   end                                                                                                      11% (27%)                                              10.                                                                                                     .
                                                                                                                                                                                                                                                                                                                                                                                                           changes in the global economy on Australia’                                                                                 	                                                                   the                     China,                                         in                                                                                                           of 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         expor                                                                                                                                    the                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       ws                                            of                     kets                  2007-08                                                                       gr                     rising                                                                                                                                                   What is meant by structural change?  What are its causes and effects on Australian industr
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                                                                                                                   updated statistics,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 includes             10.9%                     mar                                                                                                           wth                         terms                                                            y Policy
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           economic                                                        e 4.3                Asia                                          other                                                                                                                       of 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          	                                                                                                                                                         14.9% 
                                                                                                                                                                                                                                                                                                                                                                                                            examine the following economic issues and apply the following economic skills in T                                                                                                                                       ther 
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                                                                                                                                                                                                                                                                                                                                                                                                             HSC course:                                                                                    Australia’                                                                       y                                                                                                                                                                                           a                                                                                                                                                                    How is structural change occurring as the Australian economy transitions to non mining growth?
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Australian                                                                       ndia,                                                                                                                                                                         y nearly 40% betwv                                                          een 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            	                      and                               63.3%                   I                    acific.                                                    ASEAN                   Thailand,                                                                                          er                                                                                                                                  
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    financial                                                     	                                                      to                     P                                                                                e,                                                                                                        y in                       due                     2011                                                                          How have gover
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       	                                                                                                   the                                                        and                                                                                                                                         the                       to 
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                             	                                     	                                                                                                 and                                                                               ingapor                for                                                                                                      USA                      the 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           EU,                                                                                                        S                                                                                                                                                                                     2016 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     impact 
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                      trade                                dollar                   	                                                 the                   Africa                                                                                                                                                               w                                    een their peak in late 2011 and mid 2016 as sho                               with                                                   of Australian industr
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                                                                                                                                                                                                                                                                                                                                                                                                                        Assess the impact of recent changes in the global economy on Australia’                                     	                                                                                                                                                                                                                                                                                                                                                                                                                               	
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    	                      the                                                                                                                                            2018-19                                                                                                                                                                                                                      China.                 eign                                                   between
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                                                                                                                                                                                                                                                                                                                                                                                                                  •	                      effects                                                      on                                                                                                                                                                                           F                                                                                              commodities             2016                                                                                      D
                                                                                                                                                                                                                                                                                                                                                                                                                                          	                                  value                    	                      result                                                    2018-19 because of its large demand for A                   ts                     kets                                          ustralian                                          27%                                                                                                                                          ebt                       13.
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                                                                                                                                                                                                                                                                                                                                                                                                                                      the                                                                                 a                                                                                                                                          mar
                                                                                                                                                                                                                                                                                                                                                                                                                                     	                                  the                                              	                                                                                            China                impor                   t                                              of                                                               in                                              led                                                                  terms                                                                   	the
                                                                                                                                                                                                                                                                                                                                                                                                                                                                       	                                              as                                                                                         ts,                                                                                         ces                                                                       the                                              to                                                                                                              Explain how the Australian economy began the transition to non mining sources of growth after 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                     in                     policies                 	                                                                                                                                                              olland                                                                                                                                                  the 
                                                                                                                   economic conditions,                                                                                                                                                                                                                                                                                                                             	                      	                                                                                                                                                                expor               , H                    sour                    that                                                         y                         15%                                                               wn in                   of                                                                   	1980s
                                                                                                                                                                                                                                                                                                                                                                                                                         Examine                                                                                                                                                                         impor                 ustralian             tant                                           as                    ws                                                                  ear                                                demand                                                             trade 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     of                      A                                                                                        sho                                                  a general               to                        lo
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         of                                           ermany                                                                                                                           M                        w                                                                F
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                                                                                                                                                                                                                                                                                                                                                                                                                                                         changes                                         	                                                                                                           ces                                           G                                                                                                                                                                                         for                                                                                       the end of the mining investment boom in 2012.  What impact may this transition to non mining 
                                                                                                                                                                                                                                                                                                                                                                                                                   •	          for                      	                     protection                                                                                                  n terms                                                                ,                                                                                                                                            2011                    in                         commodities                             e 4.9                                                                                  and
                                                                                                                                                                                                                                                                                                                                                                                                                                                     of                      	                                                                                                          I                      sour                   most                   taly                                                                                                                       incr                                              the 
                                                                                                                                                                                                                                                                                                                                                                                                                                                    	                                                                                                                                                                                                       I                      impor                  able 4.4                                                                                                                                                                                                                                                                                   	2000s?
                                                                                                                                                                                                                                                                                                                                                                                                                          per                                                                    within                                                                                                                          the                                           in                       T                                                                                     ease                     during                  y                                                                .
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        and                     	                                                                                                        tant                  e                                                                                                                                                                                                                 ear                                                                                                                                                                                                                                     y?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                       	                      y                                                                                                                             er                     ritain,                ext                                                                                             A                         in                                                to 
                                                                                                                                                                                                                                                                                                                                                                                                                                            effects                                                                                                                                                                       w                      B                     N                                                                                                    ustralia
                                                                                                                                                                                                                                                                                                                                                                                                                                           	                                                                                                                                                     impor                                                                                     (3.8%).                                                                                                      world                    the                      M                         w                                                                 sources of growth have on the balance of payments?
                                                                                                                                                                                                                                                                                                                                                                                                                                                                trade                                                                                                                                                                     EU,                                                                                                                                                                                                                ay                       eakening                                                                                                                  		
                                                                                                                                                                                                                                                                                                                                                                                                                                       the                     	                                                                                                                                                                                                                       ea                                                                                                                                             post 
                                                                                                                                                                                                                                                                                                                                                                                                                                      	                                               industr                                                                                            most                                                                                                                ts in 2018-19.                                                           ’                                                                          2016                                                                                                                                             Refer
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     	                                                                                                                       ndonesia                the                                             or                                                                                               s terms                    commodity                                                                                                                                                                                                          y shares of total GDP
                                                                                                                                                                                                                                                                                                                                                                                                                                                          free                    of                                                                                                                        I                                             2018-19.                K                                                                                                                                                          GFC 
                                                                                                                                                                                                                                                                                                                                                                                                                                                         	                       	                                                                                                                    and                                             in                    and                                                                                                                                                                                          compar                    with                                                                                                                  	
                                                                                                                                                                                                                                                                                                                                                                                                                                                       of                                                                                                                                                                    ithin                                                                                                                                                               of                                                                                                                                                                                                                       to
                                                                                                                                                                                                                                                                                                                                                                                                                            Analyse                   	                                                                                                                                                                   W                       ts                                                                              the                                    11%                         trade.                                          boom.                                                the                                                                                                                	T
                                                                                                                                                                                                                                                                                                                                                                                                                                                                      structure                                                                                                              alaysia                                      impor                   (6.9%)                 ustralian impor                                                                         and                                              prices                                           ed to                       R                               14.                                                                             able
                                                                                                                                                                                                                                                                                                                                                                                                                      •	                                             	                                                                                                                    M                                                                                                                                                                                                                   I                                                F                                                 eser
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                                                                                                                                                                                                                                                                                                                                                                                                                                       	                      to                                                                                                                                                                                                                                                                                                        trade was r             e                        ear                                               ay                       in 
                                                                                                                                                                                                                                                                                                                                                                                                                                                             	                                                                                                                                                           expor              (10.2%),                                                          Asia                                                                                prices                      to                          coal,                2016                     the                                                                                                                                 	in
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            	                                ustralia                                                                                                   East                   China                                                                       b                      M                                                                          index                                                                                                                              	your           , employment and 
                                                                                                                                                                                                                                                                                                                                                                                                                              Discuss                                                                                                                   the                                A                      both                                                                              th                                                                                                       y 55%                    ay                         ir                    to 
                                                                                                                                                                                                                                                                                                                                                                                                                                                  changes                                                                                              	                                                     for                     USA                                                         or                                                                                    evised higher in 2019 as sho                       2019                      on                     M                          of 
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                                                                                                                                                                                                                                                                                                                                                                                                                                          	                                                                                                                                                trade                                                                                2018-19.                 ts                                                                                                                         in                    eser                      oil                    ther                                                                                                                                                  .
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            of                        	                                                                                                                                                                            with                                                   Figure 4.9: T                                                                              ank
                                                                                                                                                                                                                                                                                                                                                                                                                               Propose                                                                     	                                                                                            in                                                                                                                                                                                                                                                                ’                       led                                              balance of payments
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    ts                                                           impor                                                               ed                                                                                                                                   s I
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                balance                   	                                      	                                                                                   ustralian                                     y                                                                                                                                   F                        R
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             AP                                                                                  ts,                                                                                                                                                                                              ’
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                             	                        the                                                                                                                                                                                                                                                                                                                                                                                                            y 
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  	                                                                                                               ws                                            y                      of                   time                     Asia                                                                                         rade 1971 to 2021                                                  the                                                                                                                    y:
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     balance                                                                  sho                  (15.8%)                                       ces                     er                     the                                                                                                                                                                       terms 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    	                                                                                                                   countr                                         v
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                the                                                                   e 4.4                                                                 sour                      o                                                                                                                                                                                                                                         current account deficit
                                                                                                                                                                                                                                                                                                                                                                                                                                                              components               balance                                 	                                                                                                                 tant                                                                 within                                                                                                                                                                                       of 
                                                                                                                                                                                                                                                                                                                                                                                                                                                             	                        	                                                                                                         igur                   ASEAN                                                                  trade 
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                                                                                                                                                                                                                                                                                                                                                                                                                                                     	                                                                                                                                                                           most                                            chandise                                       eements                                                                                                                                                                                                        debt ser
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                                                                                                                                                                                                                                                                                                                                                                                                                                                  the                                                                                                                                                                                                                                               liberalisation                                                                                                                                                (f)
                                                                                                                                                                                                                                                                                                                                                                                                                                                 	                    between                                 balance                                  mined                                         (17.4%)                                    countries                 t mer                                                                                                                                                                                                                                                                                                                                 inter
                                                                                                                                                                                                                                                                                                                                                                                                                                                                     	                                       	                                                                                 EU                       single                                                               trade                   trade 
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                                                                                                                                                                                                                                                                                                                                                                                                                                    Calculate                                                      account                                  	                                                               was                     ASEAN                t and                  to                                           and                                                                                                                                                                                                              direct investment
                                                                                                                                                                                                                                                                                                                                                                                                                              •	                      relationship                                	                                                                                                                           the                 expor                      ts                     bilateral        apan                                                                                                                                                                                                                                                                                      manufacturing industr
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        and                    s                                              and                   J
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                	                                    of                                                                                                                                         ea, 
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                                                                                                                                                                                                                                                                                                                                                                                                                                                	                                       	                                     a                                                                                                                                and                                           or                                                                                                                                                                                                                              expor
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             	                                                                                 China                  ustralia              ts                    eements;                 K
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             	                                                                                       expor                                                                                                                                                                                                                                                                                           t diversification
                                                                                                                                                                                                                                                                                                                                                                                                                                      Analyse                                                                                                            the                                                             wth                     of                    TPP                   Thailand, 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   value                                	                                        impor                  o
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                       	                                     	                                                                                            ts.  The                   the                                        ingapor                                                                                                                                                                                                                                                                                                                      net foreign debt               y
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       how                                                                                                                     (i.e.                                           S                                                                                                                                                                                                                                                                    t price index
                                                                                                                                                                                                                                                                                                                                                                                                                                       net income balance;                                            	                                payments                                                  impor                                           AANZFT               USA,                                                                                                                                                                                                                                                                 financial account
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      	                                                                            intensity                EC,                  the 
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                                                                                                                                                                                                                                                                                                                                                                                                                                                       	                                     explain                               	                                                                                                                          as                                                                                                                                                                                                                                                                                                                                            net
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                                                                                                                                                                                                                                                                                                                                                                                                                                                   the                                   to                                                                                                                                      T                     such                                                                                                                                                                                                                                                                                                                                                     	
                                                                                                                                                                                                                                                                                                                                                                                                                                                  	                                     	                                                                                                            eater                    W                                                                                                                                                                                                                                                                                                                                                                                  foreign
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        balance                                                                   gr                                            tners                                                                                                                                                                                                                                                                                     financial derivatives
                                                                                                                                                                                                                                                                                                                                                                                                                                         Explain                                                                       	                                                                                             under                 par                                 ts in 2018-19                                                                                                                                                                                                                                                                                                               net foreign liabilities
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   the                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     	equity
                                                                                                                                                                                                                                                                                                                                                                                                                                                                            diagrams                              	                                                                                          egion 
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                                                                                                                                                                                                                                                                                                                                                                                                                                   •	                                                                          	                                                                                     acific                      trading                                                                                                                                                                                                                                                                                                 foreign debt
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                demand
                                                                                                                   The Workbooks include                                                                                                                                                                                                                                                                                                                       	                                                                                                                                             ustralia                                                                       th East Asia 36.9%
                                                                                                                                                                                                                                                                                                                                                                                                                                                          and                                  components                                                                                                 A
                                                                                                                                                                                                                                                                                                                                                                                                                                                         	                                the	                                                                                                      with                                                                              Nor                                                                                                                                                                                                                                               foreign
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         	                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               net secondar
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       in                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               y income deficit
                                                                                                                                                                                                                                                                                                                                                                                                                                                 supply                               	
                                                                                                                                                                                                                                                                                                                                                                                                                                                	                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 	equity
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                                                                                                                                                                                                                                                                                                                                                                                                                                     •	                                   	
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        of                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 y income
                                                                                                                                                                                                                                                                                                                                                                                                                                                                       	                                                                                                                               Figure 4.4: Major Sources of Australian Impor
                                                                                                                                                                                                                                                                                                                                                                                                                                            under different exchange rate systems; and                                                                                                                                                                                                  EU 17.4%                                                                                                                                                                                                                                      foreign investment                                                         vices
                                                                                                                                                                                                                                                                                                                                                                                                                                                              impact
                                                                                                                                                                                                                                                                                                                                                                                                                                                         the	            .                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             nominal exchange rate
                                                                                                                                                                                                                                                                                                                                                                                                                                              	Analyse	                                                                                                                                                                                                                                                                                                                                                                                                                                                                              goods balance                                                    por
                                                                                                                                                                                                                                                                                                                                                                                                                                        •	    the Australian dollar                                                           vices such as education and tourism.                                                                                                                        ASEAN 15.8%                                                                                                                                                                                                                               goods credits                                                          tfolio investment
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            TOPIC TWO                                                                                                                                                                                                                                                                                                              goods debits                                                      primary industr
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    real exchange rate
                                                                                                                                                                                                                                                                                                                                                                                                                                                               y integrated with the global economy and has strong trade links with major Asian                                                                                                                                            USA 10.2%                                                                                                                                                                                                                              impor                                                                                   y
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           ter of commodities and ser                                                                                                                                                                                                                                                                                                                                                                                                                                                                              real unit labour costs
                                                                                                                   practice HSC style                                                                                                                                                                                                                                                                                                                                                                         ts as a percentage of GDP) has risen over time with                                                                                                                                                                                                                                                                                                                                                                         t price index
                                                                                                                                                                                                                                                                                                                                                                                                                                                           tners such as China, Japan, the NIEs and ASEAN as well as the EU, USA and New                                                                                                                                                                                                                                                                                                                                                                                                                                                          Reser
                                                                                                                                                                                                                                                                                                                                                                                                                                           Australia is ver                                   ts and impor                                                                                                                                                                                  New Zealand 2.5%                                                                                                                                                                                                                                                                                             ve assets
                                                                                                                                                                                                                                                                                                                                                                                                                                            trading par                                                                                                                                                                                                                                                                                                     Source: Reser                                                                                                                                                                                                                        services industr
                                                                                                                                                                                                                                                                                                                                                                                                                                             Zealand. Australia is a large expor                   y competitiveness and greater market access for Australian                                                                                                                                 Other 17.2%                                                                                                                                                                                                                                                                                       structural change
                                                                                                                                                                                                                                                                                                                                                                                                                                                           s trade intensity (i.e. expor                  s negotiation of various bilateral (e.g. Korea, Japan and                                                                                                                                                                                                         ve Bank of Australia (2019),                                                                                                            ©                                                                                                 y
                                                                                                                                                                                                                                                                                                                                                                                                                                                                        ts each accounting for 21% of GDP in 2018-19.  This is a result of reductions in                                                                                                                                                                                                                                                                                                                                                               T                                                                       ter
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 nment’                                                                                                                                                                                                                                                                                                                                                                                                                 im Riley Publications Pty Ltd                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                               Australia’                                                                                                                                                                                                                                                                 able 14b                                                                                                                                                                                                                                                                 ms of trade
                                                                                                                                                                                                                                                                                                                                                                                                                                                exports and impor                                                                                                                                                                                                                                                                                                                                            Statement on Monetar
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   vices, Catalogue 5368.0, June.  T                                   ©                                                                               y Policy
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                                                                                                                                                                                                                                                                                                                                                                                                                                                 domestic protection, increased industr                                                                                                                                                                                                                                                                     im Riley Publications Pty Ltd                                                                                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                         ts through the Australian gover                                                                                                                                                                                                                                                                                                                                                       , May
                                                                                                                   questions and answers.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  ear 12 Economics 2020                                                                                                      .
                                                                                                                                                                                                                                                                                                                                                                                                                                                  expor                                                                                                                                                                                                  rade in Goods and Ser                                            Y
                                                                                                                                                                                                                                                                                                                                                                                                                                                   China), regional (e.g. APEC and the TPP) and multilateral trade agreements (e.g. the WTO).                                                                                           , International T
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 Source: ABS (2019)
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    Y
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     ear 12 Economics 2020                                                                                                                                       Y
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                                                                                                                                                                                        Year 11 Economics Textbook 2021ISBN 978-0-6485896-3-1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     $72
                                                                                                                                                                                        Year 11 Economics Workbook 5th Edition 2019ISBN 978-0-6485896-0-0                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         $45
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                                                                                                                                                                                        Year 12 Economics Workbook5th Edition 2019 ISBN 978-0-6480891-9-3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         $45
                                                                                                                                                                                        Year 12 Economics Package 2021ISBN 978-0-6485896-2-4                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      $99
                                                                                                                                                1 x Year 12 Economics Textbook 2021 + 1 x Year 12 Economics Workbook 5th Edition 2019
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