creativeclassroom.com.au 

  JUNE 2007

 

 

TOPIC

FIGURES

Where this statistic can be used in extended response questions.

 

 

Topic 1:  World GDP Growth

 

World figures

 
world

IMF FORECAST

 5.0%

5.0%

 2007

2008

- Trends in Globalisation

- International business cycle

- Impact of globalisation on Australia

 

 

Topic 2:  Current Account

 

a.  Current Account

     Deficit
q1 2007 6.2% GDP
2007 F –52.5
2006 –54.2

2005

–54.0

- Recent Developments in the Current

  Account 

    Exports

Q1 2007

1.8% in

- Current economic issues Topic 4
     Imports

Q1 2007

SLOWED

 

- Issues in the Balance of Payments

- Why has the current account changed?
      Net Exports

2007 q1

$ 12 M

-Factors affecting Economic Growth

      Terms of Trade

2007

LAST 3 YEARS

 32% INCREASE IN PAST 3 YEARS (RBA)

 

      Foreign debt

Dec 2007

50% OF GDP

 

 

 

     

 

 

 

b.  Exchange rates

      Dollar US cents to A$

 

JUNE 2007 0.83  

- Factors influencing inflation

- Recent developments in the Current

  Account

 

Topic 3:  Economic Growth

 

a. Forward Looking

    Indicators

 

Current

 

      GDP
YEAR 2007 f 3.8%

YEAR 2006

2.7%
YEAR 2005 2.8%

 

 

- Recent developments in economic growth

- Factors influencing the budget deficit

- Factors influencing economic growth

 
      Private Investment-

 

 

 

2007

5.0%MARCH 2007

- Recent development in economic growth

b. Unemployment

     Unemployment

      Current –

 

APRIL 2007

4.4%
PARTIC. RATE UP 0.2 64.9%

-          Factors influencing economic growth

-          Factors influencing inflation 0.2ppt to 64.9%

c.  Inflation

      CPI

 

MARCH 2007

2.7% PA

 

- Recent developments in inflation

- Causes of inflation

UNDERLYING

 

d.  Distribution of

     Income and Wealth

      Gini Co-efficient

 

JANUARY 2007

.45

 

E. Wages

 

MARCH 2007

3.9% PA

- Factors affecting economic growth

- Influences on inflation

 

Topic 4:  Fiscal Policy

 

a.  Fiscal Policy

Underlying Cash  Balance

 

2007-8 f

$b 9.7

 

2006-7

$b 11.8

 

 

 

- Effects of fiscal policy

 

- Recent Developments in fiscal policy

b.  Monetary Policy

      Official cash rate

  

May 2007

6.25%

 

 

- Impact of changes in interest rates on the

   economy

c.  Labour Market

     Policies

      Level of AWAs

 

 

 

 

 

- Current issues on industrial relations

'WORK CHOICES'

 

d.  Micro -

 

- Recent developments in economic

   growth

 

 

Creative classroom believes this report card on the Australian economy  is

 

correct but no warranty is made as to accuracy, reliability or completeness of this information.

 

THIS DOCUMENT AND ALL OTHER MATERIAL PRODUCED BY CREATIVE CLASSROOM IS FOR EDUCATIONAL PURPOSES ONLY.