Answerthree questions in 1000 words each (total 3000 words plus or minus 10%)
Start each answer on a separate page.
1.Discuss the usefulness ofthe concept of ‘path dependency’ demonstrating its usefulness for explaining Australia’s history ofinstitutional continuity
and change. In your answer discuss three examples of howthe concept can be applied.
2.Explain the role ofthe FairWork Commission in regulating the Australian labour market.
3.outline and discuss the role ofthe Commonwealth Constitution in setting the framework forthe regulation oftransport and communications in the Australian economy?
4.What impact has deregulation had on the rural sector over recent decades? Include a discussion as to whether you believe micro-economic reform has been, on balance, positive or negative in two rural ndustries.
5.Given that Australia has shifted to service-oriented production of about 70% of GDP (with only about 26% from the industrial
sector), what implications would furthertariff reductions have forAustralia’s manufacturing sector?
5.Discuss the changes in, and structure ofthe Australian financial system that led to the deregulation ofthe financial system in the 198os.
7.Discuss the importance of national competition policy since 1995 and the role ofthe Australian Competition and Consumer Commission.
8.lt has been argued that poor prudential regulation in both the US and UK led to the global financial crisis. Evaluate the importance ofthe Wallis reforms ofthe 199os, and discuss to what degree, if any, these reforms shielded
9.Australia from the worst of banking “excesses”. To what degree does the information revolution’ circumvent domestic media regulation? In your answer, discuss the role ofthe ACMA and evaluate its effectiveness.
10.Given the WTO’s commitment to the most-favoured-nation principle of non-discrimination, why do bilateral trade
agreements continue to proliferate? In your answer, evaluate whether such agreements strengthen orweaken the international trading system?
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