QLD · QCAASyllabus
Economics syllabus, dot point by dot point
Every dot point in the QLD Economics syllabus, with a focused answer for each one. Click any dot point for a worked explainer, past exam questions, and links to related dot points. Generated by Claude Opus and reviewed by Better Tuition Academy tutors.
Unit 1: Markets and models
Module overview →- Topic 2: The market mechanismExplain the operation of the market mechanism including the laws of demand and supply, equilibrium price and quantity, movements along and shifts of curves, and price elasticity of demand and supply8 min answer →
- Topic 1: The basic economic problemExplain the basic economic problem of scarcity and the resulting need to make choices, including the concepts of opportunity cost and the production possibility frontier7 min answer →
- Topic 3: Types of markets and the role of governmentExplain the different market structures (perfect competition, monopolistic competition, oligopoly, monopoly) and the role of government in regulating market conduct, including the ACCC and the Competition and Consumer Act 20107 min answer →
Unit 2: Modified markets
Module overview →- Topic 2: Macroeconomic indicators and government policyExplain the factors that influence aggregate demand and aggregate supply in the Australian economy, and how each affects real GDP, employment and inflation7 min answer →
- Topic 2: Macroeconomic indicators and government policyExplain the measurement of macroeconomic activity including real GDP, the Consumer Price Index and the unemployment rate, and the limitations of each measure7 min answer →
- Topic 1: Market failure and government interventionExplain the forms of market failure (public goods, externalities, asymmetric information, market power) and analyse the rationale for and forms of government intervention to correct market failure8 min answer →
Unit 3: International economics
Module overview →- Topic 2: Exchange rates and the balance of paymentsExplain the determination of the Australian exchange rate under a floating regime, draw the foreign exchange market diagram, and analyse the structure of the balance of payments including the current account and capital and financial account8 min answer →
- Topic 3: Globalisation and Australia's FTAsExplain the impact of globalisation on Australia, the role of major international organisations (WTO, IMF, World Bank), and evaluate the impact of Australia's free trade agreements8 min answer →
- Topic 1: Free trade theory and protectionExplain the theory of comparative advantage and the gains from trade, analyse the rationale for and forms of protection (tariffs, subsidies, quotas, local content rules), and evaluate the impact of free trade agreements on the Australian economy8 min answer →
Unit 4: Contemporary macroeconomics
Module overview →- Topic 3: Aggregate supply policies and productivityExplain the role of aggregate supply policies in achieving the macroeconomic objectives, including training and education, infrastructure, innovation and R&D, immigration, competition and deregulation, and tax reform8 min answer →
- Topic 2: Macroeconomic policyExplain the role of fiscal policy and monetary policy in achieving the macroeconomic objectives, including the structure of the Commonwealth Budget, the cash rate as the RBA instrument, and the transmission mechanism9 min answer →
- Topic 4: Income distribution and equityExplain the distribution of income and wealth in Australia, the role of the tax and transfer system in redistribution, and analyse the impact of income distribution on aggregate demand, social cohesion and intergenerational equity8 min answer →
- Topic 1: The macroeconomic objectivesExplain the major macroeconomic objectives (strong and sustainable economic growth, full employment, low and stable inflation, equity, environmental sustainability), how each is measured, and the trade-offs between them7 min answer →