The upcoming examination period of trails can seem daunting and challenging although with consistent effort and focus on certain content areas starting from today a student will be able to…
An essential component of the HSC economics course is the case study in topic one, the global economy.
This case study consists of students choosing a country and studying the key aspects in which make up that economy. This individualised case study is usually (but not specifically) limited to countries such as China, India or even Jamaica.
A student has the choice of the country, though in general students will follow a school’s advice as to which one is chosen to study in class.
This intense study of the specific country is aimed at allowing students to gain a deeper and more comprehensive knowledge of the global economy. The case study allows for students to fully appreciate how Australia fits into the business cycle through the other chosen economy. Furthermore, it allows students to gain an appreciation for the business cycle and the full effects of the business cycle on the global economy.
Students will be able to reflect on how a decision made by a certain economy can affect another country interconnected with it. For example, if Australia chooses to raise its prices for commodities this would result in China reducing its purchases from Australia and therefore affecting the overall links between economies.