Australia in the Global Economy 2021 Student Book with eBook, 10th Edition

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Australia in the Global Economy 2021 Student Book with eBook, 10th Edition

By Tim Dixon, John O'Mahony
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Australia’s leading texts in Economics have been completely updated for students undertaking NSW Year 12 courses.

The 2021 text has been completely revised to reflect the latest developments in Australia and the global economy relevant to Year 12 students. It guides students through an understanding of the key features of the economy, including the impact of the COVID-19 pandemic and the end to Australia’s record-breaking run of economic growth, the backlash against globalisation and the era of the Trump Administration, the widening differences in the economic policy debate, Australia’s economic performance in the decade since the global financial crisis, Australia’s energy policy debate and the era of historically low inflation and wage growth.

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Preview sample pages from Australia in the Global Economy 2021
The 2021 edition includes a detailed analysis of the economic effects of the COVID-19 pandemic, including:
  • the global impact: a 2-page insert in chapter 1, which discusses the way in which the global pandemic's impact on the global economy reflects the themes of globalisation in the syllabus, for example, in the role of global linkages in the spread of the disease, the role of global supply chains in response, the global lockdown, coordinated efforts in response, the role of international institutions, the impact of restrictions on movements of people across borders and the role of technology in reducing the impact of the lockdown with cloud-based apps.
  • the Australian impact: a 2-page insert focusing on the Australian dimension of the pandemic's impact and the Australian government's policy response of economic support to avoid the ratcheting up of unemployment and the downturn, including the coordination between federal and state governments.
It also includes updated graphs, end-of-chapter summaries and review questions, and revised case studies of the economies of Brazil and Indonesia.

The text is divided into four topics, following the structure of the Year 12 Economics syllabus. Each topic is introduced by an overview page that includes the relevant focus, issues and skills for that topic, reflecting the syllabus objectives. This is followed by a clear introduction to each chapter within the topic. References to useful websites relevant to a particular area of study are included throughout the text.

Each chapter concludes with a ten-point chapter summary and chapter review questions. The chapter summary is a good starting point for students’ notes on each chapter, and the review questions are a great way to test their understanding of the chapter.

The comprehensive glossary at the back of the text provides a ready reference for over 350 key economic terms and concepts.

A unique and important feature of the text is its two appendices, located at the back of the book.

Appendix A: Key Economics Skills gives students the opportunity to master the 23 skills outlined in the year 12 Economics syllabus. The appendix covers three main areas: drawing and interpreting economic diagrams; equations and calculations; and interpreting economic data and information. By working through this material, students will develop and reinforce the key economic skills.

Appendix B: Advanced Economic Analysis provides extension material beyond the year 12 Economics Syllabus for students seeking an extra challenge.
Table of contents
  • Topic 1: The Global Economy
  • Chapter 1: Introduction to the Global Economy
  • Chapter 2: Trade in the Global Economy
  • Chapter 3: Globalisation and Economic Development
  • COVID-19: The economic dimensions of a global pandemic
  • Case Study: Brazil
  • Case Study: Indonesia
  • Topic 2: Australia’s Place in the Global Economy
  • Chapter 4: Australia’s Trade and Financial Flows
  • Chapter 5: Exchange Rates
  • Chapter 6: Protection in Australia
  • Topic 3: Economic Issues
  • Chapter 7: Economic Growth
  • COVID-19: The impacts on the Australian economy
  • Chapter 8: Unemployment
  • Chapter 9: Inflation
  • Chapter 10: External Stability
  • Chapter 11: Distribution of Income and Wealth
  • Chapter 12: Environmental Sustainability
  • Topic 4: Economic Policies and Management
  • Chapter 13: The Objectives of Economic Policy
  • Chapter 14: Fiscal Policy
  • Chapter 15: Monetary Policy
  • Chapter 16: Microeconomic and Environmental Policies
  • Chapter 17: Labour Market Policies
  • Chapter 18: Effectiveness and Limitations of Economic Policy
  • Appendix A: Key economic skills
  • Appendix B: Advanced economic analysis

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