AUSTRALIA Government & Economics

Government

Parliament vs. President Parliamentary –Legislature controls the power – Parliament –Prime Minister Head of government Chosen by majority party in the legislature Stays in office for a designated period unless their party loses the majority Fusion of powers Parliamentary –Legislature controls the power – Parliament –Prime Minister Head of government Chosen by majority party in the legislature Stays in office for a designated period unless their party loses the majority Fusion of powers Presidential –Executive and Legislative branches are separate Separation of powers –Checks and Balances between 3 branches –President is elected by the voters after a specific amount of time

Australian Government Federal parliamentary democracy modeled after Great Britain’s government –Federal – Federal government shares power with the states –Parliamentary – type of legislature (Parliament, Prime Minister)... Has a constitution... Represents the people –Democracy – each citizen has the right to vote and personal freedoms Do not have a specific Bill of Rights but rather “understood freedoms” – speech, press, vote, equal rights, etc. –All citizens are required by law to vote in elections at age 18 or they have to pay fines Need a good excuse... Sick, in jail, handicapped Mandatory (COMPULSORY) voting established in 1924 – over 50% didn’t vote... Over 90% vote – largest percentage in the world.

Australian Government 3 Branches: –Executive: Head of Government: Prime Minister –Member/Leader of Parliament from the majority party – enforce the laws –Current: Prime Minister Tony Abbott »In office since 2013 –Has a cabinet made up of members of Parliament. Each member runs a different part of the government. Head of State: Queen Elizabeth II –She has no real political power –Acts as a figurehead –Appoints a governor-general to represent her in her absence »Current - Peter Cosgrove Branches: –Executive: Head of Government: Prime Minister –Member/Leader of Parliament from the majority party – enforce the laws –Current: Prime Minister Tony Abbott »In office since 2013 –Has a cabinet made up of members of Parliament. Each member runs a different part of the government. Head of State: Queen Elizabeth II –She has no real political power –Acts as a figurehead –Appoints a governor-general to represent her in her absence »Current - Peter Cosgrove

–Legislative: Parliament: bicameral (2 houses) – elected by the people –Senate: 76 members –House of Representatives: 152 members Represent the people and make new laws –Judicial: interprets the law High Court of Australia: 7 judges named by governor-general –What other country is this system similar to? –Member of Commonwealth of Nations Handout: Fact v. Opinion –Legislative: Parliament: bicameral (2 houses) – elected by the people –Senate: 76 members –House of Representatives: 152 members Represent the people and make new laws –Judicial: interprets the law High Court of Australia: 7 judges named by governor-general –What other country is this system similar to? –Member of Commonwealth of Nations Handout: Fact v. Opinion

Who’s in Charge?

Summarizing Activity

Economics

TYPES OF ECONOMIC SYSTEMS DefinitionAssociated TermsExamples in Practice 1) Market economyAn economic system in which individuals own and operate the factors of production. Free enterprise Capitalism 2) Command economyAn economic system in which the government owns and operates the factors of production. Socialism Communism Cuba China 3) Traditional economyAn economic system based upon customs and traditions. Economy is based upon agriculture and hunting. Non-Industrialized Agrarian societies Haiti Aborigines 4) Mixed economyAn economic system that has features of both market and command economies. United States Great Britain Japan Review... Types of Economies

Australian Economy Australia has a mixed economy based on capitalism (like ours!) –What is a mixed economy? –What other terms can be used to refer to a MARKET economy? –Describe Australia’s economy based on the continuum below? Economic Continuum Australia has a mixed economy based on capitalism (like ours!) –What is a mixed economy? –What other terms can be used to refer to a MARKET economy? –Describe Australia’s economy based on the continuum below? Economic Continuum CubaRussia Germany United States Australia – 83% Command Economy Market Economy

Australia’s Factors of Production What to produce? –Dominated by the service sector –However, agriculture and mining sectors account for the bulk of exports –Limited number of rules to restrict the market How to produce? –Export focused –Internationally competitive –Economic Reforms Reduce trade barriers Increasing flexibility in the labor market Privatizing many government owned monopolies –Easy to start and own a business For whom to produce? –Determined by the producers and consumers –Business owners and consumers can depend on fair laws to protect them. What to produce? –Dominated by the service sector –However, agriculture and mining sectors account for the bulk of exports –Limited number of rules to restrict the market How to produce? –Export focused –Internationally competitive –Economic Reforms Reduce trade barriers Increasing flexibility in the labor market Privatizing many government owned monopolies –Easy to start and own a business For whom to produce? –Determined by the producers and consumers –Business owners and consumers can depend on fair laws to protect them.

Specialization –Focus on producing one or two goods really well Advantages –Produce goods in less time –Produce goods for less money Example: –Australia exports natural resources to China –Australia imports finished products from China in return Specialization –Focus on producing one or two goods really well Advantages –Produce goods in less time –Produce goods for less money Example: –Australia exports natural resources to China –Australia imports finished products from China in return Division of Labor –Each individual person has their own responsibilities –Example: If you bake bread.... You DON’T grow the wheat, harvest the wheat and make the flour Specialization & Division of Labor

Voluntary Trade & GDP Currency is used to make trade easier between countries. –Currency exchange –Exchange rate Australian currency –Australian Dollar Entrepreneurship –Laws in Australia are favorable for new businesses –Few rules to restrict business –Provide jobs for workers & pay taxes Currency is used to make trade easier between countries. –Currency exchange –Exchange rate Australian currency –Australian Dollar Entrepreneurship –Laws in Australia are favorable for new businesses –Few rules to restrict business –Provide jobs for workers & pay taxes Higher the GDP = Higher standard of living Australia’s economy is very strong…Why? –Very good education system –Literacy rate is 99% –Government invests in people by building colleges and universities –Very good health care system What types of investments are these? Australia has benefited from the investment in technology, manufacturing and service industries. Updated technology keeps a company competitive. What type of investments are these?

Natural Resources Australia has many natural resources which contribute to their economic success Minerals, wool, wheat, meat products, wine, timber (covers 21% of country – eucalyptus and acacia), fish (rock lobster) Manufactured goods include cars, clothing, packaged foods, airplanes, steel & iron products, chemicals, and paper products –There are four industries important to the overall success of the Australian economy. Tourism - service Fishing Farming Ranching Australia has many natural resources which contribute to their economic success Minerals, wool, wheat, meat products, wine, timber (covers 21% of country – eucalyptus and acacia), fish (rock lobster) Manufactured goods include cars, clothing, packaged foods, airplanes, steel & iron products, chemicals, and paper products –There are four industries important to the overall success of the Australian economy. Tourism - service Fishing Farming Ranching

Tourism: –Australia’s main source of income Come from all around the world to visit the natural wonders and learn of the aboriginal customs –Popular tourist attractions include Great Barrier Reef Uluru (Ayers Rock) Sydney Opera House National Parks in the Outback Tourism: –Australia’s main source of income Come from all around the world to visit the natural wonders and learn of the aboriginal customs –Popular tourist attractions include Great Barrier Reef Uluru (Ayers Rock) Sydney Opera House National Parks in the Outback