Then complete the following task below in the comments:

Feedback Task 1. Provide feedback to three students who had points and answers you didn't consider in your post, and explain how you will integrate their points next time.

Feedback Task 2. Support three students by providing them with additional information or points from your post to expand their answers.

1. Compared to the United States and Australia, Japanese companies have increased their productivity by enhancing the efficiency of their production processes using low-cost inputs from other countries.

2. The decline in Japan's trading sector competitiveness, a result of increased global competition, has led to a long-term deterioration in Japan's terms of trade. This has also weakened the yen's real effective exchange rate, highlighting the need for strategic planning and adaptation in the face of globalisation.

3. Employment has shifted from the manufacturing sector to the non-manufacturing sector, accompanied by a widening wage gap between the two sectors.

4. Globalisation has consistently put downward pressure on inflation in Japan over the past 25 years.

5. Amid declining price markups, partly due to intensified competition from overseas, Japanese companies have maintained their profits by increasing wage markdowns.

Hogen, Y., Ito, Y., Kanai, K., & Kishi, N. (2024, March). Changes in the Global Economic Landscape and Issues for Japan's Economy. Bank of Japan Working Paper Series, 24(3), 1-40.

I now want you to delve deeper as students in pairs.

In the Comments section below:

1) Write three strategies that have worked in Japan to promote economic growth and development in the economy.

2) Provide two examples of when other policies have harmed the economy.

3) Comment on another student Pair's post and link the policies and strategies they have named to the key five globalisation impacts outlined in the teacher's example

The purpose of this task is for students to critically analyse the facts they learned in the resource task and connect them to the impacts of globalisation, building a more comprehensive information bank for future HSC exam questions.

HSC Syllabus: "Undertake a case study of the influence of globalisation on an economy other than Australia, including an evaluation of the strategies used to promote economic growth and development in this economy."

Most HSC exams over the past 15 years have included either a compulsory 10-mark question or an optional 20-mark question that directly refers to your case study country for topic 1. This case study country is not just a part of your exam, but a fascinating exploration of the influence of globalisation on an economy other than Australia. That's why it's important to study and have a good summary of notes of your case country before the exam.

Be prepared to answer questions relating to the following topics relating to Japan's economy.

International economic integration

• globalisation

• the international and regional business cycles

Trade, financial flows and foreign investment

• the basis of free trade – its advantages and disadvantages

• influence of government economic forums – G20, G7/8

• trading blocs, monetary unions and free trade agreements

Protection

• reasons for protection – infant industry argument, domestic employment, dumping, defence

• methods of protection and the effects of protectionist policies on the domestic and global economy – tariffs, subsidies, quotas, local content rules, export incentives

Globalisation and economic development

• differences between economic growth and economic development

• distribution of income and wealth

• income and quality of life indicators

• developing economies, emerging economies, advanced economies

• reasons for differences between nations

• effects of globalisation

• trade, investment and transnational corporations

• environmental sustainability

As mentioned in the overview, we need to be prepared for a 10-mark or 20-mark question in the HSC that will require us to describe aspects of the Japanese economy supported by facts and examples. This exercise aims to build a solid foundation of knowledge and facts to utilise when answering questions in the HSC exam.

Task 1.

For each resource, I require every student to provide at least three characteristics of the Japanese economy learned from the resource.

This task's purpose is for each student to build a knowledge bank of key facts and figures about the Japanese economy that they can use in future questions.