In this topic you will learn to:
Examine economic issues
Apply economic skills
- analyse the opportunity cost of government decisions in addressing specific economic problems or issues
Apply economic skills
- explain how governments are restricted in their ability to simultaneously achieve economic objectives
You will learn about:
National and global context for environmental management
- regulations
- market-based policies
- targets
- international agreements
What can you expect to be asked?
2020 HSC Question 26
| 2020-hsc-economics_q26.pdf |
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| pages_from_2020-hsc-economics-mg.pdf |
Build your knowledge of current policies being implemented by the Federal Government in addressing climate change by accessing this site: https://www.industry.gov.au/policies-and-initiatives/australias-climate-change-strategies (see link below) and adding notes under each grouping in the lotus diagram below.
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Evaluate
Click on the image below and using the website, "Climate Analytics", evaluate the policies you have described in the lotus diagram. Tick or cross each policy initiative depending on how effective (tick) or ineffective (cross) you think that policy will prove to be, given the analysis shared in "Climate Analytics".
Revision
Review and revise your knowledge using this information from Creative Classroom.
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The Last Word
The Treasurer has released the 2021 Intergenerational Report. The report projects an outlook for the economy and the Australian Government’s budget over the next 40 years. It examines the long-term sustainability of current policies and how demographic, technological and other structural trends may affect the economy and the budget.
The natural environment is central to the quality of life enjoyed by Australians and to the state of the economy. It provides natural resources that are direct inputs into Australia’s productive capacity and supports activity in a range of sectors. Over the next 40 years, Australia will continue to respond and adapt to environmental challenges that will affect the economy and the budget.
Climate change presents a significant challenge to the natural environment. Rising global temperatures and other changes to the climate will impact locations, sectors and communities in diverse ways driving both structural adjustments and corresponding innovation. Connecting innovation and investment in climate-resilient development can significantly increase the adaptive capacity of our regions, towns and cities. Such solutions will require effective action by governments, businesses and communities, to keep the economy strong now and into the future.
Mitigation efforts will require a step-change in innovation and global collaboration to make new energy technologies commercial and scalable. Australia is working with our trading and strategic partners to make low and zero emissions technologies globally scalable and commercially viable.
Australia has made, and continues to make, a significant contribution to global emissions reduction efforts, reducing emissions faster than many similar advanced economies, as well as the OECD and G20 averages. Australia is at the forefront of adopting low emissions technologies, with the highest level of solar photovoltaic capacity per person of any country in the world, and more solar and wind generation capacity per person than any country outside Europe.
Effectively managing the broader pressures on the environment – including on oceans, waste and water management – and biodiversity, will also improve economic prospects and our quality of life.