Macroeconomic Policies and Employment: Australia's Banking Sector

This report examines the relationship between macroeconomic policies and employment, with a specific focus on the Australian banking sector and the Commonwealth Bank of Australia. It explores how monetary policy and other macroeconomic strategies influence economic growth, labor force dynamics, and overall financial stability. The report highlights the importance of policy interventions in achieving sustained economic growth and addressing unemployment. It also discusses the role of the banking sector in supporting economic development and the need for effective fiscal management in a rapidly changing world. The study emphasizes the significance of maintaining labor force growth and addressing social concerns through appropriate economic policies. This assignment is available on Desklib, a platform offering AI-based study tools and resources for students, including past papers and solved assignments.

Running head: DIMENSIONS OF KNOWLEDGE SOCIETY
Dimensions of knowledge society
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DIMENSIONS OF KNOWLEDGE SOCIETY
Table of Contents
Considering aspects of macro policy development in economics and employment and how
Commonwealth can ensure it has capability to adapt......................................................................2
Reference List..................................................................................................................................3

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DIMENSIONS OF KNOWLEDGE SOCIETY
Considering aspects of macro policy development in economics and employment and how
Commonwealth can ensure it has capability to adapt
The study deals with explaining the concept of macro policy development in economics
and employment by referring to banking sector in Australia and company named as
Commonwealth Bank of Australia (Heijdra, 2017). Countries like Australia had achieved
sustained economic growth as they have used a wide range of policy interventions. The main
objective of monetary policy is to attain the highest probable rate of non-inflationary financial
expansion. Banking sector in Australia had undergone considerable changes that directly inclined
constancy as well as efficiency of the system. Macro-economic policies are most crucial factor
that helps in shaping the landscape within which factors like labor and capital operates in the
most appropriate way. The main objective of macro policy development is to put in for the
financial as well as social security in a reasonable and an effective way. It is due to
unemployment and underemployment that is the main cause behind poverty. It becomes difficult
to maintain an economy as possible as giving full employment. The main target of banking
sector in Australia is to keep up labor force growth as well as rural-urban migration. The banking
sector in Australia aims for continued as well as sustained economic growth where it is treated
for preoccupation for employment generation as it will provide countries the fiscal space for
addressing other vital critical social concerns (Mankiw, 2014). It is important to promote
economic growth as well as structurally transform in a rapid changing world that need to develop
fiscal management strategies.

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DIMENSIONS OF KNOWLEDGE SOCIETY
Reference List
Heijdra, B. J. (2017). Foundations of modern macroeconomics. Oxford university press.
Mankiw, N. G. (2014). Principles of macroeconomics. Cengage Learning.