Essay Questions Help (1 Viewer)

[Neva]

Can someone give me some suggestions on what to write for these two essay questions? (20 marks each)

• Examine the links between the key balance of payments categories and trends associated with the balance of payments in the Australian economy

• Examine the influence of international organisations, government economic forum, trading blocs and free trade agreements on promoting globalisation

 

[gnrlies]

My suggestion would be to look at the syllabus and your text book to get an idea of some key themes, then have a go yourself at listing some potential things to discuss, and then someone on here can give you further suggestions or help you to refine your ideas.

 

[Clean Sweep]

I find it easier to remember the positives rather than the negatives in economics but you must focus on both.
So for the BoP essay, also talk about how Australia had mostly had a current account deficit (CAD) throughout most of its recent history and how it means that we must "fund" that deficit through the capital and financial account and since we borrow money from overseas to fund this so we have to pay interest in this which results in a "debt trap" as the interest is registered as debit in the primary income part of current account.
For FTA's there is also the concern of "trade diversion".