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
explain how inflation could reduce the efficiency with which prices allocate resources.

A sample of 58 mutual funds was taken and the mean return in the sample was 14% with a standard deviation of 9.3%. The return on a particular index of stocks (against which the mut

Describe the characteristics of Monopolistic Competition

What is the role of World Bank in the promotion of development? The World Bank was found to promote post-war reconstruction and flow of capital to progressing countries. Its o

What is culture and human capital? Human capital is the knowledge, experience and skills of employees and can be raised by investing into education, job training and health

Problem 1: (a) The Mauritian government is now increasingly involving the private sector in the development of the economy. How can government support effective private sector

Change in Currency Rate Change in the sterling currency rate has also great consequences because it depends upon the sterling currency rate to the other countries as well. As

using a diagram, evaluate the effect of a decrease in money supply to the equilibrium in the goods and money market

What are social cohesion, social capital and social inclusion? Development economics importance the role of social capital, cohesion and inclusion into the process of developm

What is the main danger in placing countries together in the same grouping? It is useful to classify countries by groupings for identification of common problems and policy pu