Australia in the Global Economy 2020

Preliminary pages
Imprint
Title page
Table of contents
Welcome
How to use this book
TOPIC 1 THE GLOBAL ECONOMY
Chapter 1 Introduction to the Global Economy
1.1 The global economy
1.2 Globalisation
1.3 The international and regional business cycles
Chapter 2 Trade in the Global Economy
2.1 Advantages and disadvantages of free trade
2.2 Reasons for protection
2.3 Methods of protection
2.4 Trade agreements
2.5 International organisations
2.6 Government economic forums
Chapter 3 Globalisation and Economic Development
3.1 Introduction
3.2 Differences in income and economic growth
3.3 Differences in economic development
3.4 Categories of development in the global economy
3.5 Causes of inequality in the global economy
3.6 The impact of globalisation
Case Study: Brazil
Case Study: Indonesia
TOPIC 2 AUSTRALIA'S PLACE IN THE GLOBAL ECONOMY
Chapter 4 Australia's Trade and Financial Flows
4.1 Understanding Australia's place in the global economy
4.2 Trends in Australia's trade patterns
4.3 Trends in Australia's financial flows
4.4 The balance of payments
4.5 Trends in Australia's balance of payments
4.6 The consequences of a high CAD
Chapter 5 Exchange Rates
5.1 Introduction
5.2 Australia's floating exchange rate system
5.3 Reserve Bank intervention in the foreign exchange market
5.4 Fixed exchange rate systems
5.5 Exchange rates and the balance of payments
Chapter 6 Protection in Australia
6.1 Introduction
6.2 Government initiatives to reduce protection
6.3 Australia’s free trade agreements
6.4 Implications of a reduction in protection levels for the Australian economy
6.5 The impact of international protection levels on Australia
6.6 The future of Australian industry in the global economy
TOPIC 3 ECONOMIC ISSUES
Chapter 7 Economic Growth
7.1 Introduction
7.2 Economic growth and aggregate demand and supply
7.3 The components of aggregate demand
7.4 Changing levels of growth: The multiplier process
7.5 The role of aggregate supply
7.6 The effects of economic growth
7.7 Recent economic growth trends
7.8 Policies to sustain economic growth
Chapter 8 Unemployment
8.1 Introduction
8.2 Measuring the level of unemployment
8.3 Recent unemployment trends
8.4 The main types of unemployment
8.5 The non-accelerating inflation rate of unemployment
8.6 The causes of unemployment
8.7 The impacts of unemployment
8.8 Policies to reduce unemployment
Chapter 9 Inflation
9.1 Introduction
9.2 Measuring the rate of inflation
9.3 Recent trends in inflation
9.4 The main causes of inflation
9.5 The effects of inflation
9.6 Policies to sustain low inflation
Chapter 10 External Stability
10.1 Introduction
10.2 Australia’s current account deficit
10.3 Australia’s foreign liabilities
10.4 Australia’s exchange rate
10.5 Policies to achieve external stability
Chapter 11 Distribution of Income and Wealth
11.1 Introduction
11.2 Measuring the distribution of income and wealth
11.3 Sources of income and wealth
11.4 Trends in the distribution of income and wealth
11.5 The costs and benefits of inequality
11.6 Government policies and inequality
Chapter 12 Environmental Sustainability
12.1 Introduction
12.2 Ecologically sustainable development
12.3 Market failure: private benefits and social costs
12.4 Public and private goods
12.5 Major environmental issues
12.6 Government policies and environmental sustainability
TOPIC 4 ECONOMIC POLICIES AND MANAGEMENT
Chapter 13 The Objectives of Economic Policy
13.1 Introduction
13.2 The objectives of economic management
13.3 The goals of government policy in 2020
13.4 Conflicts in government policy objectives
13.5 The economic policy mix
Chapter 14 Fiscal Policy
14.1 The meaning of fiscal policy
14.2 Budget outcomes
14.3 Changes in budget outcomes
14.4 Methods of financing a deficit
14.5 The current stance of fiscal policy
14.6 The impact of recent fiscal policy
Chapter 15 Monetary Policy
15.1 Introduction
15.2 The objectives of monetary policy
15.3 The implementation of monetary policy
15.4 The impact of changes in interest rates
15.5 The current stance of monetary policy
Chapter 16 Microeconomic and Environmental Policies
16.1 Microeconomic policies and aggregate supply
16.2 Microeconomic policies and individual industries
16.3 Environmental management policies
Chapter 17 Labour Market Policies
17.1 Introduction
17.2 The role of national and state industrial systems
17.3 Australia’s wage determination system
17.4 Dispute resolution
17.5 Decentralisation of the labour market
17.6 Education, training and employment programs
17.7 Evaluating labour market outcomes in Australia
Chapter 18 Effectiveness and Limitations of Economic Policy
18.1 An overview of the effectiveness of economic management
18.2 Limitations of economic policy
18.3 Evaluating the effectiveness of specific policies
APPENDICES
Appendix A Key Economic Skills
A.1 Introduction
A.2 Drawing and interpreting economics diagrams
A.3 Equations and calculations in economics
A.4 Interpreting economic data and information
Appendix B Advanced Economic Analysis
B.1 Comparative advantage and gains from trade
B.2 Income-expenditure diagram
B.3 Long-run Phillips curve
B.4 Limitations of macroeconomic policy
Glossary
Index