Topic 3: Economic Issues (2 Viewers)

[shabooyah]

Noticed there was no existing thread of general discussions, FAQs in relation to this topic and it's a big one.
I myself will be using this one a fair bit in the next couple weeks as I work through an assessment for it and seek the advice of others who are also doing this crazy subject.

First Q; difference between a 'problem' v an 'issue' that DOESN'T come from Tim Dixon and John O'Mahony?

Cheers

 

[sida1049]

First Q; difference between a 'problem' v an 'issue' that DOESN'T come from Tim Dixon and John O'Mahony?

Huh, I've always thought "problem" and "issue" were synonymous

 

[Frostguard]

lol in my opinion I think that issues lead to problems
eg problems is the sort of stuff that damages economic growth and economic development such as high CAD, unemployment, inflation
then for issues, its the sort off that leads to economic problems (as mentioned above) such as the issues of high foreign debt over foreign equity for CAD or an aging population which leads to higher unemployment rates with increasing retirement ages and changing superannuation levels
idk thats just my lil opinion, but yeah as sida1049 said, these two terms literally mean the same thing but you can interpret it differently and hopefully what I wrote shows there is a MINOR difference between the two terms, but are probably the same thing anyway and maybe what i just said was like complete bs HAHAHAH

 

[shabooyah]

Cheers for your insight! I know economically they have different meanings but I like your phrasing!

 

[dropzz]

Examine the current state of external stability in Australia and its possible impact on future growth in the Australian economy?


how would i approach this question?. Having a lot of trouble starting as this is my first practice essay on external stability and don't know how to structure it. Thanks.

 

[shabooyah]

Examine the current state of external stability in Australia and its possible impact on future growth in the Australian economy?


how would i approach this question?. Having a lot of trouble starting as this is my first practice essay on external stability and don't know how to structure it. Thanks.

You'd definitely have to discuss at length the Balance of Payments and probably the issues that exist under external stability such as
-the CAD
-the volatility of terms of trade
-not being int'ly competitive
-increasing foreign debt
-increasing offshore ownership of/in Australia
-the AUD being volatile

Is it an assessment you're doing or just class practice?

 

[shabooyah]

Seems like a solid question...would be interested in what a sample response entails!