Skip to main content

Economics Down Under Book 1 VCE Economics Units 1 & 2 9E eBookPLUS (Online Purchase)

Economics Down Under Book 1 VCE Economics Units 1 & 2 9E eBookPLUS (Online Purchase)

Richard Morris

ISBN: 978-0-730-31751-7

Mar 2015, Jacaranda


Economics Down Under VCE Economics Units 1&2 9E eBookPLUS
provides completely up-to-date statistcs and economic analysis.


• Use of photographs and cartoons to help demystify Economics.
• Regular review questions.
• Definitions of economic terms included on the page they’re introduced.

Economics Down Under VCE Economics Units 1&2 9E eBookPLUS is a digital-only version of the textbook that provides access to all the course content. It also includes a wealth of multimedia resources accessed through our JacarandaPLUS website ( 

> eBookPLUS resources include:

• Access from any digital device: PC/MAC/iPad/Android Tablet.
Worksheets - Word documents designed for easy customisation and editing.
Interactivities and games to reinforce and enhance student learning.
eLessons - engaging video clips and supporting material.
Weblinks to relevant support material on the internet.
ProjectsPLUS - unique ICT-based projects that provide opportunities for students to demonstrate creativity, thinking skills and teamwork.
eBookPLUS resources are cost effective, ranging in price from $25.95 - $53.95 depending on your subject area.

About eBookPLUS vii

How to use this book viii

Acknowledgements x

UNIT 1. Economic choices and consequences

Chapter 1. Introduction: Australia, a market economic system

1.1 What is economics about?

1.2 People’s unlimited needs and wants

1.3 The limited supply of resources available for use in production

1.4 The problem of relative scarcity

1.5 Choice and the concept of opportunity cost

1.6 Four possible types of economic system

1.7 Distinctive features of Australia’s market capitalist economic system

1.8 The nature and role of markets in Australia

1.9 Looking at markets using demand–supply diagrams

1.10 Background for case studies of markets

1.11 Correcting market failure through government intervention in Australia’s market economy

Chapter 2 Economic growth and sustainable developm.ent

2.1 The meaning of living standards, economic growth, trade-offs and environmental sustainability

2.2 The measurement of economic growth

2.3 The business cycle and recent trends in Australia’s rate of economic growth

2.4 Factors affecting Australia’s rate of economic growth

2.5 Some benefl ts of Australia’s mostly strong economic growth

2.6 Positive and negative externalities associated with economic growth and their impact on Australia’s allocation of resources

2.7 Decisions made by households, businesses and governments affect Australia’s rate of economic growth and the environment

Chapter 3. Australia’s inflation as a contemporary economic issue

3.1 Definition of inflation

3.2 Measurement of inflation

3.3 Inflation trends in Australia and overseas

3.4 Causes or factors affecting Australia’s inflation rate

3.5 The importance of avoiding rapid inflation

3.6 Australian government policies to help achieve the goal of low inflation

Chapter 4. Creation and distribution of income and wealth as a contemporary economic issue

4.1 Income and wealth

4.2 Measurement of the distribution of income and wealth

4.3 Trends in Australia’s distribution of income and wealth

4.4 Factors affecting Australia’s distribution of income and wealth

4.5 Effects of inequality in the distribution of income and wealth on living standards

4.6 Government policies to help promote an equitable distribution of income and wealth

4.7 An international perspective on the distribution of income and wealth

UNIT 2. Economic change: issues and challenges

Chapter 5. Population, employment and change

5.1 Influences on Australia’s population size, composition and distribution

5.2 The economic consequences of demographic change and their effects on living standards

5.3 An overview of population policies in Australia and internationally

5.4 The nature of employment and unemployment, paid and unpaid work

5.5 Measurement of Australia’s labour market conditions

5.6 Recent trends in Australia’s labour market

5.7 Causes and types of unemployment

5.8 Effects of changes in employment and unemployment levels

5.9 The impact of government policies on employment and unemployment

Chapter 6. Australia’s international economic relationships as a global economic issue

6.1 Issues involving international trade and other types of transactions between countries

6.2 Measuring Australia’s international trade and capital flows using the balance of payments account

6.3 Recent trends in Australia’s current account deficit and their causes

6.4 Trends in the ‘composition’ and ‘direction’ of Australia’s trade and transactions

6.5 Trends in Australia’s international capital flows and their causes

6.6 Australia’s exchange rate

6.7 Australia’s foreign debt

6.8 Government policies affecting international trade

6.9 Overview of the economic relationship between the Australian economy and China

Chapter 7. Economic globalisation

7.1 Economic globalisation

7.2 Theories and explanations for the globalisation of business

7.3 The effects of globalisation

7.4 The impacts of globalisation on China’s economy

7.5 International responses to globalisation

Chapter 8. Development economics

8.1 Defining economic development and the role of development economics

8.2 Measurement of development

8.3 Causes of poverty in low-income countries

8.4 Strategies to promote economic growth and development

8.5 The role of government and private foreign aid to promote economic development

8.6 Current issues facing a developing nation in Asia —Vietnam, a case study

Multiple-choice answers

Economics dictionary