Microeconomics (1 Viewer)

[jky.]

Okai.
this topic is realli confusing me.. (maybe because my teacher practically went for a long service leave wen we just finished this, and i couldnt ask anything, or maybe i cbb reading my textbook)

haha. but anyhooOs

for micro..
there are 'tools' in which the government use...please tell me what they are, what they do, and an example...? (eg. deregulation, PTEs.. :S yea.. them stuff.. )

thanks!

 

[absolution*]

5 things.
Memorise them.

- National Competition Policy
- Tariff/Trade Reform
- Taxation Reform
- Labour Market Reform
- Deregulation

Refer to book for explanations.
Explain with respect to their effect on:

- Economic Growth
- Unemployment
- Inflation
- External Stability

and if you have extra time:

- Income inequality
- Environmental management

What do i win?

 

[Wild Dan Hibiki]

a pat on the back

 

[aditya]

not even that

 

[jky.]

thanks!
buts..
what about dat corporatisation and privatisation stuff? PTEs... =S *shrugz

 

[Teoh]

That's deregulation, I think.

 

[jky.]

hrms, in my textbook.. its under "Reforms to public trading enterprises".. (Dixons)

- National Competition Policy
- Tariff/Trade Reform
- Taxation Reform
- Labour Market Reform
- Deregulation
- Reforms to public trading enterprises ..
so there's 6 things?

 

[jky.]

and can sumone plz expand on the trade reform... ? i dont hvae dat in my textbook.. =S or i cant see it =\

 

[ToO LaZy ^*]

yeah, it's basically selling off whole or parts of government owned businesses to improve efficiency and productivity

 

[jky.]

ahha. now im realli confused... =[
isnt dat selling thingo, wholely or partly privatissation of PTEs.. ?!
:S



so wats trade reform... ?

 

[Lorie]

microeconmics, just think supple side economiccs.

It is divided into labout market reform (AWA), finiancal deregulation, Tariff and trade reform, national competition policy and taxation reform. These all affect the supply aspect of the circular flow chart.

 

[aditya]

wat do u mean its not in ur text book... trade tariff reform... just read ur book properly and then come back

 

[jky.]

i dernos.. im just realli confussedd..

 

[rumour]

Okai.
this topic is realli confusing me.. (maybe because my teacher practically went for a long service leave wen we just finished this, and i couldnt ask anything, or maybe i cbb reading my textbook)

haha. but anyhooOs

for micro..
there are 'tools' in which the government use...please tell me what they are, what they do, and an example...? (eg. deregulation, PTEs.. :S yea.. them stuff.. )

thanks!

You are talking about Micro-Economic reform(MER) aren't you?
MER is concerned with the supply side of the normal S+D graph
The government uses MER to keep to costs of producing G+S low.

7 areas of MER:
- Taxation reform (GST in, WST out, broader tax base)
-Labour Market reform (Casualisation of the workforce, AWAs & CAs, enterprise bargaining)
-Less Protection (Reducing tariffs on imports, free trade agreements, the Cairns group)[THIS IS TRADE REFORM!!! , Basically the govt. is doin the less protection stuff, to make our exports more competitive]
-Reform of utilities (Gas, water, etc)
- Privatisation & Corpatisation (Australia Post, sydney airport, Telstra-49%)
-Deregulation (Don't know much about this one, sorry )
& there is one other one that I have forgotten, does anyone know what it is?

Yeah, Dixon is pretty confusing, when it comes to MER, you can't tell which is which!!

 

[jky.]

hahah thats trueee >.<

you helped alot!!

thanks soo mcuh!