Reference no: EM13854442
PART 1
1. Briefly trace the changing significance of the Rural Sector to the Australian economy through the past century. How important were global forces?
2. Discuss the reasons for the establishment of statutory marketing authorities and two-price home-consumption schemes from the 1920s to the 1940s. Outline the main functions of these institutions.
3. What was the Wool Reserve Price Scheme? How did it work and was it successful?
4. Explain the main reasons for deregulation of Australian agriculture during the 1980s and 1990s. Which types of institutions were affected, in what ways, and what are the current trends in government support?
5. What is the principal farmers' organisation? How important has it been in driving and responding to economic change over the last two decades?
PART 2
1. Trace the broad outline of the relative rise and decline of the manufacturing sector through the past century. Why has the share of manufacturing in GDP fallen in recent decades?
2. Explain the main reasons why tariffs have been reduced in recent decades.
3. Outline three arguments for protection and three arguments against protection. Which side of this debate has the stronger case? Why?
4. Discuss the change in emphasis in the way the federal government now supports secondary industry, compared to the ways the government did this in the middle of last century.
5. When and why was the Productivity Commission established? Explain its functions and contrast those with the functions of the Tariff Board before 1972.
PART 3
1. What are horizontal and vertical fiscal imbalances? What are the main causes of these imbalances in Australia?
2. What has been the main way in which the federal government has dealt with the financial problems of the small states in the Australian federation?
3. How has the federal government attempted to address the main issues in federal-state financial relations since 1972? Has it been successful?
4. What roles do the Loan Council and Uniform Income Tax play in Federal-State financial relations today?
5. What impacts did both the Uniform Income Tax and the GST have on vertical fiscal imbalance?
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