What main ideas do we need to be able to use, explain and evaluate for the HSC? (1 Viewer)

[Casson8]

Hey all, just doing economics study and wondering what are the useful ideas and concepts that are useful to know for the HSC (in your opinion)? Also, how can these be adapted/integrated into several types of essays? e.g. Inflation, economic growth, macro/micro policies

 

[MasonT]

Well, be sure to note in your head, that:

Topic One: Looks at the world as a whole and reinforces that individual economies have effects on other economies (External Factor)
Topic Two: Looks at Australia's place in this global economy and where we stand as an economy (External Factor)
Topic Three: Looks at the internal of Australia's economy and the issues involved (Internal Factor)
Topic Four: Looks at the Policies and Management of Australia's economy (Internal Factor)

Also, ideas and concepts:
- Look at Pitchford Thesis
- Look at John Maynard Keynes (Research consumption function - it helps!!)
- Understand economic models and how to apply them!! (Look at the types of graphs!)

When writing essays, consider:
- Information
- Causes
- Effects
- Policies

If theres anything else I can remember, I'll post it up