ATAR Notes: Forum
VCE Stuff => VCE Business Studies => VCE Subjects + Help => VCE Economics => Topic started by: shooterblitz on October 20, 2013, 09:37:11 pm
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Hey guys
Just wanted to confirm, in regards to Trade Liberalisation, we should just know the key free trade agreements Australia is involved in right? So SAFTA, AUSFTA, TAFTA etc. ?
And obviously how these agreements help to achieve the 5 economic goals.
Cheers
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Hi ShooterSid
I've honestly given this topic considerable thought and have considered all possible outcomes. In the end I think it would be best to simply focus on the various trade agreements that Australia currently has in place, however if you do choose to do this its is crucial to remember to only use trade agreements that were made in the last 4 years, hence limiting your pool of examples due to the fact that many of Australia's trade agreements took place prior to 2008.
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You don't need to mention specific FTA at all. We usually talk about Trade Lib in broad terms (e.g. it involves abolishing tariffs and import quotas, reducing subsidies, and signing more FTAs).
The marks are essentially always allocated to the discussion of how these particular microeconomic changes affect the goals.
Does that make sense?
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You don't need to mention specific FTA at all. We usually talk about Trade Lib in broad terms (e.g. it involves abolishing tariffs and import quotas, reducing subsidies, and signing more FTAs).
The marks are essentially always allocated to the discussion of how these particular microeconomic changes affect the goals.
Does that make sense?
I see what you mean. But it would still be impossible to refer to how this reform affected the goals in the past 4 years, so we'd have to use examples from 1970 and whatnot when Australia loosened up on its stance right?
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I see what you mean. But it would still be impossible to refer to how this reform affected the goals in the past 4 years, so we'd have to use examples from 1970 and whatnot when Australia loosened up on its stance right?
You don't actually need to reference any exams in Trade Lib to be honest. I never memorised any facts or figures about tariffs or quotas. I just mentioned that tariffs have been decreasing steadily and that we've abolished import quotas. That's it.
If REALLY you want to mention an example, then you can talk about reducing tariffs (e.g. TCF or Vehicles).
Best advice I can give is to keep this section as simple as possible. Real life examples and figures should be dealt with in the big policy/goal questions.