SACE Economics Stage 2 Notes

These are the 20 revision notes inside the SACE Economics Mastery Pack. Open any note to see what it covers before you buy.

1. Scarcity, opportunity cost and the production possibility curveStage 2 · Economic inquiry skills

   Thinking like an economist

2. Command terms, consequences and evidence-based recommendationsStage 2 · Economic inquiry skills

   Thinking like an economist

3. Mean, median, quantiles and variance in economic dataStage 2 · Data analysis

   Reading economic data

4. Correlation, causation and interpreting R and R-squaredStage 2 · Data analysis

   Reading economic data

5. Demand, supply and the price mechanism in linked marketsStage 2 · Microeconomics

   Markets

6. Price elasticity of demand and supply and the total revenue methodStage 2 · Microeconomics

   Markets

7. Market structures and how they meet consumer and producer needsStage 2 · Microeconomics

   Market structures

8. Duopoly, game theory, Nash equilibrium and collusionStage 2 · Microeconomics

   Market structures

9. Consumer surplus, producer surplus and deadweight lossStage 2 · Microeconomics

   Welfare and intervention

10. Price ceilings and price floorsStage 2 · Microeconomics

    Welfare and intervention

11. Indirect taxes and producer subsidiesStage 2 · Microeconomics

    Welfare and intervention

12. Externalities, public goods, asymmetric information and market powerStage 2 · Microeconomics

    Market failure

13. Full employment: unemployment rate, participation and NAIRUStage 2 · Macroeconomics

    Macroeconomic objectives

14. Price stability: CPI, cost-push and demand-pull inflationStage 2 · Macroeconomics

    Macroeconomic objectives

15. Economic growth, real GDP and living standardsStage 2 · Macroeconomics

    Macroeconomic objectives

16. The business cycle and leading, lagging and coincident indicatorsStage 2 · Macroeconomics

    Business cycle and models

17. Five-sector circular flow, the multiplier and the mpcStage 2 · Macroeconomics

    Business cycle and models

18. The Monetarist AD-AS model in the short and long runStage 2 · Macroeconomics

    Business cycle and models

19. Fiscal and monetary policy: transmission, lags and conflictsStage 2 · Macroeconomics

    Policy

20. Supply-side policy and floating exchange ratesStage 2 · Macroeconomics

    Policy