Year 10 Economics & Business
Hypothetical Economy
Government programmes & policies
General policies & programmes
Commonwealth of Australia. (2014). Budget 2014-15 overview. Retrieved from https://budget.gov.au/2014-15/content/overview/download/Budget_Overview.pdf
Commonwealth of Australia. (2015). Budget 2015 overview. Retrieved from https://www.budget.gov.au/2015-16/content/overview/download/Budget-2015-Overview.pdf
Commonwealth of Australia. (2016). Budget 2016-17 overview. Retrieved from https://www.budget.gov.au/2016-17/content/glossies/overview/downloads/Budget2016-17-Overview.pdf
Commonwealth of Australia. (2017). Budget 2017-18 overview. Retrieved from https://www.budget.gov.au/2017-18/content/glossies/overview/download/Budget2017-18-Overview.pdf
Commonwealth of Australia. (2018). Budget 2018-19 overview. Retrieved from https://www.budget.gov.au/2018-19/additional/budget_overview.pdf
Commonwealth of Australia. (2019). Budget 2019-20 overview. Retrieved from https://www.budget.gov.au/2019-20/content/download/overview.pdf
Watch the video below for a quick summary of the budget.
The Australian Treasury. (2019, April 1). Budget 2019-20 overview [Video file]. Retrieved from https://www.youtube.com/watch?v=qzMWoFWOHK4
Economic growth policies & programmes
Daley, J. (2012). How can Australian governments change the game for economic growth. Retrieved from https://theconversation.com/how-can-australian-governments-change-the-game-for-economic-growth-7548
Fernyhough, J. (2015). Five ways to boost the Australian economy. Retrieved from https://thenewdaily.com.au/money/finance-news/2015/08/26/five-ways-boost-aussie-entrepreneurship/
Minifie, J. (2016). What the government should do now: economic growth. Retrieved from https://theconversation.com/what-the-government-should-do-now-economic-growth-61517
Human Development Index ranking policies
McLennan, L. (2015). Norway is the best place to ‘live’ on earth. Retrieved from http://www.news.com.au/travel/world-travel/europe/norway-is-the-best-place-to-live-on-earth-what-can-we-learn-from-this-scandinavian-beauty/news-story/ef902b59d8a1d3beb4e80e778132b077
What does Norway have that your hypothical country doesn’t? How is their economic system different to the hypothetical country?
Income inequality policies & programmes
Baum, F. (2016). Want to improve the nation’s health? Start by reducing inequality. Retrieved from http://medicalrepublic.com.au/want-improve-nations-health-start-reducing-inequalities-improving-living-conditions/5046
The second half of this article has some suggested fiscal policies to address income inequality.
Douglas, B., Friel, S. Denniss, R., & Morawetz, D. (2014). Advance Australia fair? What to do about growing inequality in Australia. Retrieved from https://www.australia21.org.au/wp-content/uploads/2014/06/Final-InequalityinAustraliaRepor-2.pdf
Chapter 7 has some suggested policies on how to address inequality.
Pickering, C. (2014). Raise taxes to reduce inequality. Retrieved from https://www.theaustralian.com.au/business/business-spectator/raise-taxes-to-reduce-inequality-/news-story/0fde673c9a75d8365fb17e52049ed6f8
PricewaterhouseCoopers. (2017). Education will be the engine room of Australia’s future prosperity. Retrieved from https://www.pwc.com.au/education/education-reform-mar17.pdf
Page 4 has some information why education might be a priority in an economy.
Unemployment is a part of social security and welfare. Have a look at the specific section on Unemployment policies and programmes.
Singh, M.K. (2017). Migrants feel the pinch as government plans changes to welfare payments. Retrieved from https://www.sbs.com.au/yourlanguage/punjabi/en/article/2017/12/18/tougher-welfare-payment-system-new-migrants-save-australian-government-12-billion
What effect will this have on other macroeconomic indicators like the Human Development ranking index and the Gini coefficient?
Taxation policies & programmes
Mulcare, M. (n.d.). Australia’s future taxation system. Retrieved from http://www.betterbennelong.com.au/wp/wp-content/uploads/2016/03/Kit-3-AU-Future-Tax.pdf
Page 5 has some suggested changes to the taxation system and the costs and benefits of the changes.
Unemployment policies & programmes
10 government measures for tackling unemployment. (2016). Retrieved from http://merrionstreet.ie/en/allaboutjobs/Features-Articles/10_government_measures_for_tackling_unemployment.html
Although this is from Ireland, it may give some ideas about potential policies or programmes.
Amadeo, K. (2017). What is being done to control unemployment?. Retrieved from https://www.thebalance.com/what-is-being-done-to-control-unemployment-3306220
Amadeo, K. (2018). Unemployment solutions: what’s the most cost-effective. Retrieved from https://www.thebalance.com/unemployment-solutions-3306211
Perlgut, D. (2017). Let’s get serious about reducing unemployment. Retrieved from https://cca.edu.au/news/comment/reducing-unemployment/
Although this is someone’s opinion, it may give some ideas about potential policies or programmes.
Healey, J. (.). (2015). Youth unemployment. Thirroul, N.S.W: Spinney Press.
Pettinger, P. (2017). Policies for reducing unemployment. Retrieved from https://www.economicshelp.org/blog/3881/economics/policies-for-reducing-unemployment/
Riley, G. (n.d.). Unemployment – policies to reduce unemployment. Retrieved from https://www.tutor2u.net/economics/reference/unemployment-policies-to-reduce-unemployment
Although from the United Kingdom, it will give an international perspective on how other governments might be tackling the issue.