Topic 6- Government and the Economy
The focus of this study is the role of government in a mixed economy. The main concepts are management of the economy, and problems and issues arising from the free operation of markets.
Topic 5- Financial Markets
The focus of this topic is the operation of financial markets in Australia, the contemporary institutions and the controls existing in the market which influence market outcomes. The different types of markets and the influence of the Reserve Bank of Australia on interest rates are of central concern.
Topic 4- Labour Markets
The focus of this topic is an examination of a factor market- the market for labour resources. The contemporary institutions and outcomes of the labour market are key elements.
Topic 3- Markets
The focus of this topic is the operations of markets. The way in which market prices are determined and the need and means available for governments to intervene in markets are highlighted.
Topic 2- Consumers and Business
The focus of this topic is an investigation of how consumers and businesses make decisions about the choices they face, recognising that in a market economy both are motivated largely by self-interest.
Topic 1: Introduction to Economics
The focus of this topic is the need for choice by individuals, businesses and governments. Their decisions determine the nature of the economy and create the diversity of economies found in the world.