Fiscal Policy

17. the concept of fiscal policy

18. the macroeconomic policy objectives of the Australian Government

19. the different budget outcomes, i.e. balanced, surplus and deficit budgets

20. reasons for differences between planned and actual budget outcomes

21. methods of financing a budget deficit and the impact of government debt

22. the distinction between automatic fiscal stabilisers and discretionary fiscal policy

23. the impact of expansionary and contractionary fiscal policy stances on the level of economic activity using the AE and AD/AS model

24. strengths and weaknesses of fiscal policy

25. fiscal policy stances in Australia over the last three years