Explore the skills · QCAA
Economics
Interpret economic evidence, apply models and justify policy judgements for the Unit 4 Topics 1 and 3 external examination.
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Economic Measurement
- Calculate and interpret economic changesExternal exam
- Convert and compare nominal and real valuesExternal exam
- Calculate propensities and multiplier effectsExternal exam
- Interpret macroeconomic measures and their limitsExternal exam
Macroeconomic Models
- Trace injections, leakages and aggregate demandExternal exam
- Construct and interpret AD-AS adjustmentsExternal exam
- Apply production possibilities to growth and trade-offsExternal exam
- Relate cycle phases to macroeconomic objectivesExternal exam
Economic Mechanisms
- Explain growth mechanisms and distributional outcomesExternal exam
- Diagnose unemployment and explain its consequencesExternal exam
- Explain inflation mechanisms and their effectsExternal exam
Fiscal Policy
- Classify fiscal instruments and distributional effectsExternal exam
- Explain automatic stabilisers and budget-balance changesExternal exam
- Evaluate fiscal policy against economic objectivesExternal exam
Monetary Policy
- Explain the RBA's monetary-policy role and settingsExternal exam
- Trace monetary-policy transmission channelsExternal exam
- Evaluate monetary-policy effectiveness and limitsExternal exam
Supply Side Policy
- Explain how supply-side reforms change capacityExternal exam
- Evaluate supply-side policy and its trade-offsExternal exam
Economic Evidence
- Select and quantify meaningful stimulus patternsExternal exam
- Explain relationships and test the limits of inferenceExternal exam
- Synthesise economic evidence, ideas and perspectivesExternal exam
- Make and justify a criteria-based economic judgementExternal exam
International Trade
- Analyse trade patterns and their domestic consequencesInternal assessment only
- Apply models of absolute, comparative and competitive advantageInternal assessment only
- Model exchange-rate movements and adjustmentInternal assessment only
- Evaluate terms-of-trade and exchange-rate effectsInternal assessment only
- Classify and reconcile international transactionsInternal assessment only
- Evaluate balance-of-payments and foreign-investment trendsInternal assessment only
Global Economic Issues
- Analyse globalisation and supply-chain integrationInternal assessment only
- Model tariffs and non-tariff protectionInternal assessment only
- Evaluate protection and liberalisation alternativesInternal assessment only
- Evaluate trade agreements and trade creation or diversionInternal assessment only
Historical Economic Management
- Evaluate indicators of past economic performanceInternal assessment only
- Evaluate past budget stances and management outcomesInternal assessment only
Independent Investigation
- Research a current economic issue using reliable sourcesInternal assessment only
- Construct a documented economic research reportInternal assessment only
Supporting Communication
- Organise a coherent analytical responseSupporting learning