Global finance crisis, Business Economics

Australia has emerged from the Global Finance Crisis (GFC) as "the strongest economy in the developed world" (Editorial, The Australian, 11 December 2009). The economic editor of The Australian, however, sounded a cautionary note, drawing our attention to the challenges facing the Australian economy in the short to medium term.  With the help of appropriate economic models critically analyse the 2011 federal budget, and discuss the extent to which the Labor government has successfully tackled these challenges. What would be your policy recommendations to the government and RBA if the Australian economy is to maintain steady economic growth with low unemployment and inflation?

There are three aspects to the question: theory, application and policy. Firstly, you must show that you understand the theory, so a thorough reading of chapters 24, 25, 27 & 28 of the 6th edition textbook (or chapters 22, 24, 26 & 27 of the 5th edition) is required. Then you must do some research. This will entail reference to government publications (e.g. RBA, Treasury), journals and newspapers (e.g. AFR, The Australian) on more detailed analysis of the current issues identified in the Editorial. Regarding policy implications, there is no right or wrong answer. As a starting point, read an article by Michael Stutchbury: "Policy fails to keep up with boom" (The Australian February 22, 2011). This article and the editorial are both available on the Blackboard unit site.

Posted Date: 3/2/2013 6:40:03 AM | Location : United States







Related Discussions:- Global finance crisis, Assignment Help, Ask Question on Global finance crisis, Get Answer, Expert's Help, Global finance crisis Discussions

Write discussion on Global finance crisis
Your posts are moderated
Related Questions
How is supply related to opportunity cost?

What are the formal and informal sectors? Formal and informal sectors: Economic activities considered as to the government make up the formal sector of the economy. That

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4 a) Many are concerned

The following represents the potential outcomes of your first salary negotiation after graduation: Assuming this is a sequential move game with the employer moving first, indicate

Why might the point at which the long-run average cost curve levels out change over long periods of time? include a diagram.

What is the failure effectiveness of World Trade Organisation in the promotion of development? Failure effectiveness of World Trade Organisation in the promotion of developmen

You are evaluating two (mutually exclusive) methods of strip-mining a resource-rich area. The alternatives are very similar, though one important difference is in the scale of the

Net exports normally decrease with the effect when aggregate output decline. When a concretionary fiscal policy is implemented net exports will go up . When government maintain the

Explain about theories and models linked to development. • There is no one agreed theory of development. All models, as Rostow, provide an insight in one or two dimensions of t

Nathan is a successful public relations (PR) consultant, thanks to an outgoing personality and sharp intelligence. At 35, he is near the height of his earnings potential, at around