Australian Economics Practice Platform

Australian Curriculum Aligned | Units 1-4

Unit 4: Managing the Economy

How is the Australian economy managed by governments?

25% SAC + 50% Exam (ATAR) 40 Skills • 3 Levels Each

Unit 4 Skill Map

Fiscal policy, monetary policy, supply-side reforms, and their effects on living standards.

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MCQ Multiple Choice

ANALYSIS Economic Analysis

GRAPH Graph/Diagram

POLICY Policy Evaluation

AoS 1: Aggregate Demand Policies

20 skills

Fiscal Policy

12 skills ▼

Government Revenue Sources FREEMCQ27300 Government ExpenditureMCQ27301 Federal Budget OutcomesANALYSIS27302 Automatic StabilisersANALYSIS27303 Discretionary Fiscal PolicyPOLICY27304 Expansionary Fiscal PolicyGRAPH27305 Contractionary Fiscal PolicyGRAPH27306 Fiscal Policy and Economic GrowthANALYSIS27307 Fiscal Policy and EmploymentANALYSIS27308 Fiscal Policy and InflationANALYSIS27309 Government Debt and DeficitANALYSIS27310 Strengths and Weaknesses of Fiscal PolicyPOLICY27311

Monetary Policy

8 skills ▼

RBA and Monetary PolicyMCQ27312 Open Market OperationsANALYSIS27313 Monetary Transmission MechanismGRAPH27314 Monetary Policy and Exchange RateANALYSIS27315 Monetary Policy StancePOLICY27316 Monetary Policy and Macroeconomic GoalsANALYSIS27317 Strengths and Weaknesses of Monetary PolicyPOLICY27318 Policy Mix: Monetary and Fiscal CoordinationPOLICY27319

AoS 2: Aggregate Supply Policies

20 skills

Supply-Side Fiscal Policies

5 skills ▼

Fiscal Policy as Supply-Side PolicyANALYSIS27320 Infrastructure InvestmentANALYSIS27321 Education and Training PoliciesPOLICY27322 Tax Reform and Incentive EffectsANALYSIS27323 Welfare Reform and Labour Market ParticipationPOLICY27324

Labour Market and Population Policies

5 skills ▼

Research and Development PolicyPOLICY27325 Immigration Policy and ASANALYSIS27326 Labour Market FlexibilityANALYSIS27327 Population and Demographic ChangeANALYSIS27328 Skills Shortages and Workforce PlanningANALYSIS27329

Microeconomic Reform and Competition

5 skills ▼

Deregulation and Competition PolicyPOLICY27330 Trade Liberalisation as AS PolicyANALYSIS27331 Microeconomic ReformANALYSIS27332 Technology and Innovation PolicyPOLICY27333 Market-Based Environmental PoliciesPOLICY27334

Environment, Sustainability and Policy Evaluation

5 skills ▼

Regulatory Environmental PoliciesPOLICY27335 Sustainability and Intergenerational EquityANALYSIS27336 Strengths and Weaknesses of AS PoliciesPOLICY27337 The Aggregate Policy MixPOLICY27338 Policy Effects on Living StandardsANALYSIS27339