QCE Economics Syllabus Notes

Learn how an open economy works in QCE Economics, including international trade, the five-sector circular flow, trade benefits and trade-offs.

Understand absolute advantage, comparative advantage, competitive advantage and international competitiveness for QCE Economics Unit 3.

Learn fixed, managed and floating exchange rates, AUD demand and supply, appreciation, depreciation and exchange rate impacts for QCE Economics.

Learn the current account, capital and financial account, balance of trade, foreign debt and foreign investment for QCE Economics Unit 3.

Study globalisation, multinational supply chains, deregulation, trade liberalisation and global institutions for QCE Economics Unit 3.

Learn tariffs, subsidies, quotas, non-tariff barriers, free trade agreements, trade creation and trade diversion for QCE Economics.

Study the business cycle, aggregate demand and supply, multiplier effect and Australia's macroeconomic objectives for QCE Economics Unit 4.

Learn inflation types, unemployment types, participation, underutilisation, external stability and macroeconomic trade-offs for QCE Economics.

Analyse leading, lagging and coincident indicators, budget outcomes, fiscal stances and economic cycle evidence for QCE Economics.

Understand fiscal policy, taxation, expenditure, automatic stabilisers, crowding out, budget stances and fiscal effectiveness for QCE Economics.

Learn the RBA cash rate, inflation targeting, transmission channels and monetary policy strengths and limitations for QCE Economics.

Understand aggregate supply policies, microeconomic reform, productivity, efficiency, competitiveness and reform evaluation for QCE Economics.

Learn how to analyse stimulus, evaluate policy responses and build detailed Economics paragraphs and essays for QCE Unit 4.