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Macroeconomics Indicators Australia

   

Added on  2020-05-16

17 Pages3641 Words103 Views
Running head: MACROECONOMIC PERFORMANCE: AUSTRALIA Macroeconomic Performance: AustraliaName of the StudentName of the UniversityAuthor Note

1MACROECONOMIC INDICATORS: AUSTRALIA Executive Summary One of the dominating economies in the global framework is the economy of Australia,which with its impressive economic growth patterns and stable performances of almost all theeconomic indicators, over the years, has prospered hugely and attained economic sustainabilityand productive efficiency in many sectors, including its booming industrial and commercialsector. However, over the years, the economy has had its share of fluctuations and turmoil,which has shaped up the economy as it is today. The report tries to analyze these fluctuations andthe relation between the different economic variables and their causal factors, by collecting therelevant economic data and interpreting the same with the help of the economic theories.

2MACROECONOMIC INDICATORS: AUSTRALIA Table of ContentsIntroduction......................................................................................................................................3A) Economy of Australia: Macroeconomic Evaluation..................................................................31. Real GDP and Unemployment Rate........................................................................................42. Real GDP growth rate and inflation rate.................................................................................63. Real GDP and the cash rate.....................................................................................................84. Growth rate of Real GDP and exchange rate...........................................................................95. Real GDP growth rate and net exports..................................................................................10B) Inflation and Unemployment....................................................................................................12C) Contractionary Monetary Policy Framework...........................................................................13D) Future Outlook of the economy................................................................................................14Conclusion.....................................................................................................................................14References......................................................................................................................................15

3MACROECONOMIC INDICATORS: AUSTRALIA Introduction The Australian economy is considered one of the most developed economies in thecontemporary global framework and is characterized by the presence of a robust mixedeconomic structure. The most prominent trait of the economy is stability and consistency in thegrowth trends of its economic indicators like GDP, employment and price levels. The countryhas a considerably big service sector and a booming industrial and commercial sector, whichclubbed with the productive international relationships of the country; helps immensely inkeeping the growth trends stable (Dyster and Meredith, 2012). The concerned report, tries to analyze the growth trends of the overall economy of thecountry, between 1990 and 2015, taking into account the primary economic indicator of growth,the GDP and the determinants of the same, including inflation, unemployment rate, net exports,interest rates and the exchange rate (Ravenhill, 2017). By studying the trends in these indicatorsand their inter-relationships, it tries to interpret the policy implications and the outlook of theeconomy of Australia, in the light of the existing economic theories and conceptual framework. A) Economy of Australia: Macroeconomic Evaluation The most widely used economic indicator of growth in any country is the growth in theGross Domestic Product of the country, which is the sum of the money values of the finalcommodities and services produced in the geographical boundaries of the country. The same, inturn is affected by the dynamics of several economic indicators, the effects being both direct aswell as indirect. Of these, the crucial ones are unemployment rate, inflation rate, exchange rate,net exports and the interest rate and cash rate prevailing in the economy (Mankiw, 2014).

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