Elements and Performance Criteria
- Describe what is meant by the Australian financial markets
- Specific financial markets in Australia are identified and discussed
- The purpose of financial markets and when they emerged in Australia is researched and discussed
- The participants in the financial markets and the roles of banks and financial institutions as financial intermediaries are identified and their roles analysed and discussed
- Explain the function and role of the Reserve Bank of Australia (RBA)
- Explain Australia's monetary system
- The various functions of money are explained and society's motivations for holding money are outlined
- The monetary cycle within the economy and on a global scale and instruments traded on the short term money market are described
- The impact of increases and decreases in the money supply and the importance of regulating the money supply of any country is analysed and discussed
- Explain the key factors that influence the Australian economy
- The role and impact of Commonwealth and State government actions on the economy is explored with reference to current events and issues
- The impact of a change in domestic interest rates on different sectors of the economy is analysed and discussed
- The impact of changes in consumer activity on the Australian economy is analysed and discussed
- Describe the role of regulators