Investigating Macroeconomics, Sixth Edition
By Greg Parry and Steven Kemp
Contents:
Part 1 Australia and the Global Economy
- Global interdependence…………1
- Free trade and protection…………………27
- Australia’s pattern of trade……………….57
- The balance of payments……………………69
- The terms of trade……………………………..93
- Exchange rates…………………………………105
- Foreign investment………………………..125
Part 2 Macroeconomics and Economic Policy
- The business cycle…………………………………147
- The aggregate expenditure model……………..165
- Aggregate demand and aggregate supply……….195
- Economic policy objectives………………………..213
- Fiscal policy………………………………..229
- Monetary policy………………………..255
- Structural change and productivity…………………….277
Answers to multiple choice questions -303
lndex-304
Preface:
This book has been prepared primarily for students in studying Economics in Western Australian schools. The first seven chapters relate to international trade concepts; chapters eight onward relate to macroeconomic concepts, economic policy and productivity.
We regard it as important that economic literacy should be promoted throughout the community. Understanding Australia’s economic circumstances is a complex task for students, especially during a period of time when providing the ‘correct’ answers to economic problems is not as straight forward as it once might have seemed. It is, we feel, important for economics to be promoted as a method of thinking logically about a wide range of problems. It is hoped that students will recognize the need to be well informed about current economic issues, and be able to relate this to the economic theory presented in the text.
Greg Parry and Steven Kemp
January 2021