What role does government play in Australian economic activity?

Topic A
1. What role does government play in Australian economic activity? Give examples of important economic institutions created by government in Australia.
2. How important have been microeconomic policy changes in Australia in recent years? Give recent examples of both privatisation and de-regulation.
3. Give three examples of statutory authorities and three examples of government business enterprises. How would you distinguish between the two?
4. Explain why the Commonwealth Constitution came into existence? Describe how it divides economic powers between the Federal and State Governments.
5. What is COAG and what does it do?
Topic B
1. What is the theory of comparative advantage? Explain how it is relevant to explaining Australia’s economic relationship with the rest of the world.
2. What was the Bretton Woods system? What role did the IMF and the World Bank play in it?
3. Why was the WTO formed and what preceded it? What are the main aims of the WTO’s Doha Round, and its results so far?
4. Explain the principal objectives of the Closer Economic Relations Treaty between Australia and New Zealand. Should Australia and New Zealand form a complete economic and political union?
5. Discuss the importance of AUSFTA, APEC, and ASEAN for the future development of Australia’s trade.

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