Comprehensive Analysis: Macroeconomic Performance of Australia and USA
VerifiedAdded on  2023/04/22
|25
|4066
|453
Report
AI Summary
This report presents a comparative analysis of the macroeconomic performance of Australia and the United States of America from 1995 to 2015. It examines key macroeconomic indicators, including real GDP growth, inflation rates, unemployment rates, net exports, cash rates, and exchange rates. The analysis includes summary statistics and graphical representations of these indicators to illustrate their trends and relationships. Furthermore, the report delves into the government policies of both countries, specifically focusing on monetary and fiscal policies and their impact on economic growth and stability. The findings highlight the differences and similarities in the economic landscapes of Australia and the USA, offering insights into their respective strengths and challenges. The report concludes with a macroeconomic outlook for Australia, providing a forward-looking perspective on its economic trajectory.

Running head: ECONOMICS
Economics
Name of the student
Name of the university
Author note
Economics
Name of the student
Name of the university
Author note
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

1
ECONOMICS
Table of Contents
Evaluation of the macroeconomic performance of Australia and USA.....................................2
Introduction................................................................................................................................2
Summary statistics of the macroeconomic indicators of Australia and the United States of
America......................................................................................................................................2
Graphs of macroeconomic indicators.......................................................................................12
Government policies of Australia and USA............................................................................17
Macroeconomic outlook of Australia.......................................................................................19
Conclusion................................................................................................................................21
Reference list............................................................................................................................23
ECONOMICS
Table of Contents
Evaluation of the macroeconomic performance of Australia and USA.....................................2
Introduction................................................................................................................................2
Summary statistics of the macroeconomic indicators of Australia and the United States of
America......................................................................................................................................2
Graphs of macroeconomic indicators.......................................................................................12
Government policies of Australia and USA............................................................................17
Macroeconomic outlook of Australia.......................................................................................19
Conclusion................................................................................................................................21
Reference list............................................................................................................................23

2
ECONOMICS
Evaluation of the macroeconomic performance of Australia and USA
The paper below shows the summary statistics and the graph of the pair wise
macroeconomic factors that affects the Australian as well as the American economy from the
year 1995 to 2015. The summary statistics of each of the indicators shows how they are
related to each other and the graph shows the relationship between the real gross domestic
product and the other factors of the macroeconomy.
Introduction
The macroeconomic factor that relates to the economy at the regional or at the
national level which affects the large population. The macroeconomic factors comprise of the
unemployment, inflation, savings and investments. They are known as the key indicators of
the economic performance which are known to closely monitored by the business,
governments and consumers.
Summary statistics of the macroeconomic indicators of Australia and the United States
of America
Table 1 REAL GDP growth of Australia and USA
Column1
REAL GDP GROWTH RATE OF
AUSTRALIA
Mean -0.07749512
Standard Error 0.221400338
Median -0.081144834
Mode #N/A
Standard Deviation 1.01458381
Sample Variance 1.029380307
Kurtosis -0.008634789
Skewness 0.038330901
Range 4.079999908
Minimum -2.010083353
ECONOMICS
Evaluation of the macroeconomic performance of Australia and USA
The paper below shows the summary statistics and the graph of the pair wise
macroeconomic factors that affects the Australian as well as the American economy from the
year 1995 to 2015. The summary statistics of each of the indicators shows how they are
related to each other and the graph shows the relationship between the real gross domestic
product and the other factors of the macroeconomy.
Introduction
The macroeconomic factor that relates to the economy at the regional or at the
national level which affects the large population. The macroeconomic factors comprise of the
unemployment, inflation, savings and investments. They are known as the key indicators of
the economic performance which are known to closely monitored by the business,
governments and consumers.
Summary statistics of the macroeconomic indicators of Australia and the United States
of America
Table 1 REAL GDP growth of Australia and USA
Column1
REAL GDP GROWTH RATE OF
AUSTRALIA
Mean -0.07749512
Standard Error 0.221400338
Median -0.081144834
Mode #N/A
Standard Deviation 1.01458381
Sample Variance 1.029380307
Kurtosis -0.008634789
Skewness 0.038330901
Range 4.079999908
Minimum -2.010083353
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide

3
ECONOMICS
Maximum 2.069916555
Sum -1.62739753
Count 21
Confidence Level
(95.0%) 0.461833013
Column1
REAL GDP GROWTH
RATE OF USA
Mean -0.183529247
Standard Error 0.378251666
Median -0.238821158
Mode #N/A
Standard Deviation 1.774157575
Sample Variance 3.1476351
Kurtosis 3.477356076
Skewness 1.019380258
Range 8.423644805
Minimum -3.116194615
Maximum 5.30745019
Sum -4.037643425
Count 22
Confidence Level
(95.0%) 0.786617401
The table above shows that the mean of real gross domestic product of Australia is quite low
when compared to the real GDP of USA. The maximum growth of GDP was 5 percent for
USA. The data that has been collected from the world bank shows that the inflation starts
declining from 1995 to 1999 however, the real gross domestic growth rate remained constant
at 3.8 for the three years. The inflation rate of the united states of America were around 2 to 3
percent for most of the years. Though it can be seen that in the year 2009, it went to negative.
ECONOMICS
Maximum 2.069916555
Sum -1.62739753
Count 21
Confidence Level
(95.0%) 0.461833013
Column1
REAL GDP GROWTH
RATE OF USA
Mean -0.183529247
Standard Error 0.378251666
Median -0.238821158
Mode #N/A
Standard Deviation 1.774157575
Sample Variance 3.1476351
Kurtosis 3.477356076
Skewness 1.019380258
Range 8.423644805
Minimum -3.116194615
Maximum 5.30745019
Sum -4.037643425
Count 22
Confidence Level
(95.0%) 0.786617401
The table above shows that the mean of real gross domestic product of Australia is quite low
when compared to the real GDP of USA. The maximum growth of GDP was 5 percent for
USA. The data that has been collected from the world bank shows that the inflation starts
declining from 1995 to 1999 however, the real gross domestic growth rate remained constant
at 3.8 for the three years. The inflation rate of the united states of America were around 2 to 3
percent for most of the years. Though it can be seen that in the year 2009, it went to negative.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

4
ECONOMICS
Column1
INFLATION RATE
USA
Mean 2.265611
Standard Error 0.229945
Median 2.33769
Mode #N/A
Standard Deviation 1.05374
Sample Variance 1.110369
Kurtosis 0.925325
Skewness -0.96449
Range 4.194647
Minimum -0.35555
Maximum 3.8391
Sum 47.57783
Count 21
Confidence Level
(95.0%) 0.479657
Column1 INFLATION RATE OF AUSTRALIA
Mean 2.660028
Standard Error 0.258969
Median 2.615385
Mode #N/A
Standard Deviation 1.186744
Sample Variance 1.408362
Kurtosis -0.29508
Skewness -0.01036
Range 4.402879
Minimum 0.224888
Maximum 4.627767
Sum 55.86059
Count 21
Confidence Level
(95.0%) 0.540199
ECONOMICS
Column1
INFLATION RATE
USA
Mean 2.265611
Standard Error 0.229945
Median 2.33769
Mode #N/A
Standard Deviation 1.05374
Sample Variance 1.110369
Kurtosis 0.925325
Skewness -0.96449
Range 4.194647
Minimum -0.35555
Maximum 3.8391
Sum 47.57783
Count 21
Confidence Level
(95.0%) 0.479657
Column1 INFLATION RATE OF AUSTRALIA
Mean 2.660028
Standard Error 0.258969
Median 2.615385
Mode #N/A
Standard Deviation 1.186744
Sample Variance 1.408362
Kurtosis -0.29508
Skewness -0.01036
Range 4.402879
Minimum 0.224888
Maximum 4.627767
Sum 55.86059
Count 21
Confidence Level
(95.0%) 0.540199

5
ECONOMICS
Column1 UNEMPLOYMENT RATE OF AUSTRALIA
Mean 6.089523792
Standard Error 0.280750247
Median 5.929999828
Mode #N/A
Standard Deviation 1.286559258
Sample Variance 1.655234724
Kurtosis -0.372278321
Skewness 0.684467226
Range 4.28000021
Minimum 4.230000019
Maximum 8.510000229
Sum 127.8799996
Count 21
ECONOMICS
Column1 UNEMPLOYMENT RATE OF AUSTRALIA
Mean 6.089523792
Standard Error 0.280750247
Median 5.929999828
Mode #N/A
Standard Deviation 1.286559258
Sample Variance 1.655234724
Kurtosis -0.372278321
Skewness 0.684467226
Range 4.28000021
Minimum 4.230000019
Maximum 8.510000229
Sum 127.8799996
Count 21
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide

6
ECONOMICS
Confidence Level
(95.0%) 0.585634753
Column1 UNEMPLOYMENT RATE OF INFLATION
Mean 5.977142868
Standard Error 0.367830277
Median 5.53000021
Mode 5.78000021
Standard Deviation 1.685610087
Sample Variance 2.841281364
Kurtosis 0.131848224
Skewness 1.109018864
Range 5.640000105
Minimum 3.99000001
Maximum 9.630000114
Sum 125.5200002
Count 21
Confidence Level
(95.0%) 0.767280512
From the summary statistics provided above in the table it can be said that in case of the rate
unemployment rate, it was more than eight percent back in the year 1995. Although it started
to decline and was lowest in 2008, when the rate of unemployment was 4.23 percent. From
the summary statistics it have been found that the mean value of the unemployment level is 6.
The standard error was 0.28. The median of the unemployment rate of Australia is 6.
ECONOMICS
Confidence Level
(95.0%) 0.585634753
Column1 UNEMPLOYMENT RATE OF INFLATION
Mean 5.977142868
Standard Error 0.367830277
Median 5.53000021
Mode 5.78000021
Standard Deviation 1.685610087
Sample Variance 2.841281364
Kurtosis 0.131848224
Skewness 1.109018864
Range 5.640000105
Minimum 3.99000001
Maximum 9.630000114
Sum 125.5200002
Count 21
Confidence Level
(95.0%) 0.767280512
From the summary statistics provided above in the table it can be said that in case of the rate
unemployment rate, it was more than eight percent back in the year 1995. Although it started
to decline and was lowest in 2008, when the rate of unemployment was 4.23 percent. From
the summary statistics it have been found that the mean value of the unemployment level is 6.
The standard error was 0.28. The median of the unemployment rate of Australia is 6.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

7
ECONOMICS
Column1 NX OF AUSTRALIA
Mean -1.166077721
Standard Error 0.244954835
Median -1.298144186
Mode #N/A
Standard Deviation 1.122524075
Sample Variance 1.260060298
Kurtosis -1.170943089
Skewness 0.203812415
Range 3.711753595
Minimum -2.744010975
Maximum 0.96774262
Sum -24.48763215
Count 21
Confidence Level
(95.0%) 0.510966833
Column1 NX OF USA
Mean -3.406654491
Standard Error 0.296682946
Median -3.470995189
Mode #N/A
Standard Deviation 1.359572059
Sample Variance 1.848436185
Kurtosis -0.714960116
Skewness 0.139801241
Range 4.392884198
Minimum -5.564038913
Maximum -1.171154714
Sum -71.53974431
Count 21
Confidence Level
(95.0%) 0.618869782
In case of the net exports and imports it can be said from the values that have been provides
in the website that have been provided in the website of the world bank is that the imports
have been always higher when compared to the imports. The exports had been the highest in
the year 2009. On the other hand, the imports had been the highest in the year 2001. The net
ECONOMICS
Column1 NX OF AUSTRALIA
Mean -1.166077721
Standard Error 0.244954835
Median -1.298144186
Mode #N/A
Standard Deviation 1.122524075
Sample Variance 1.260060298
Kurtosis -1.170943089
Skewness 0.203812415
Range 3.711753595
Minimum -2.744010975
Maximum 0.96774262
Sum -24.48763215
Count 21
Confidence Level
(95.0%) 0.510966833
Column1 NX OF USA
Mean -3.406654491
Standard Error 0.296682946
Median -3.470995189
Mode #N/A
Standard Deviation 1.359572059
Sample Variance 1.848436185
Kurtosis -0.714960116
Skewness 0.139801241
Range 4.392884198
Minimum -5.564038913
Maximum -1.171154714
Sum -71.53974431
Count 21
Confidence Level
(95.0%) 0.618869782
In case of the net exports and imports it can be said from the values that have been provides
in the website that have been provided in the website of the world bank is that the imports
have been always higher when compared to the imports. The exports had been the highest in
the year 2009. On the other hand, the imports had been the highest in the year 2001. The net

8
ECONOMICS
exports had always been negative over the decade. Although in the year 2009 and in 2001,
the exports have been higher than the imports.
ECONOMICS
exports had always been negative over the decade. Although in the year 2009 and in 2001,
the exports have been higher than the imports.
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide

9
ECONOMICS
Column1
CASH RATE FOR
AUSTRALIA
Mean 4.738095
Standard Error 0.313618
Median 4.75
Mode 4.75
Standard Deviation 1.437176
Sample Variance 2.065476
Kurtosis -0.26819
Skewness -0.19797
Range 5.5
Minimum 2
Maximum 7.5
Sum 99.5
Count 21
Confidence Level
(95.0%) 0.654195
Column1
INTERES
T RATE
OF USA
Mean 2.559524
Standard Error 0.52638
Median 1.82
Mode 0.16
Standard Deviation 2.412176
Sample Variance 5.818595
Kurtosis -1.79413
Skewness 0.271431
Range 6.33
Minimum 0.07
Maximum 6.4
Sum 53.75
Count 21
Confidence Level
(95.0%) 1.09801
ECONOMICS
Column1
CASH RATE FOR
AUSTRALIA
Mean 4.738095
Standard Error 0.313618
Median 4.75
Mode 4.75
Standard Deviation 1.437176
Sample Variance 2.065476
Kurtosis -0.26819
Skewness -0.19797
Range 5.5
Minimum 2
Maximum 7.5
Sum 99.5
Count 21
Confidence Level
(95.0%) 0.654195
Column1
INTERES
T RATE
OF USA
Mean 2.559524
Standard Error 0.52638
Median 1.82
Mode 0.16
Standard Deviation 2.412176
Sample Variance 5.818595
Kurtosis -1.79413
Skewness 0.271431
Range 6.33
Minimum 0.07
Maximum 6.4
Sum 53.75
Count 21
Confidence Level
(95.0%) 1.09801
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser

10
ECONOMICS
While finding out the summary statistics for the cash rate of Australia and the interest rate for
America, it has been found out that the mean of the cash rate was 4 with median and mode
being the same which means the cash rate four percent all over the years. The maximum
amount of cash rate had been 7 percent and the minimum amount was at 2. It is known to
have negative skewness and negative kurtosis
Column1
Exchange rate
OF AUSTRALIA
Mean 0.770531
Standard Error 0.009618
Median 0.7615
Mode 0.7389
Standard Deviation 0.15237
Sample Variance 0.023217
Kurtosis -0.70266
Skewness 0.211558
Range 0.6064
Minimum 0.489
Maximum 1.0954
Sum 193.4033
Count 251
Confidence Level
(95.0%) 0.018942
The mean of the exchange rate of the United states had been
found to be one with the value of the mean and mode being the
similar. The standard deviation is also less than one with
negative kurtosis. While the exchange rate of Australia shows
that it has negative kurtosis and positive skewness with mean
less than one.
ECONOMICS
While finding out the summary statistics for the cash rate of Australia and the interest rate for
America, it has been found out that the mean of the cash rate was 4 with median and mode
being the same which means the cash rate four percent all over the years. The maximum
amount of cash rate had been 7 percent and the minimum amount was at 2. It is known to
have negative skewness and negative kurtosis
Column1
Exchange rate
OF AUSTRALIA
Mean 0.770531
Standard Error 0.009618
Median 0.7615
Mode 0.7389
Standard Deviation 0.15237
Sample Variance 0.023217
Kurtosis -0.70266
Skewness 0.211558
Range 0.6064
Minimum 0.489
Maximum 1.0954
Sum 193.4033
Count 251
Confidence Level
(95.0%) 0.018942
The mean of the exchange rate of the United states had been
found to be one with the value of the mean and mode being the
similar. The standard deviation is also less than one with
negative kurtosis. While the exchange rate of Australia shows
that it has negative kurtosis and positive skewness with mean
less than one.

11
ECONOMICS
Column1 EXCHANGE RATE OF USA
Mean 1.350850517
Standard Error 0.017442062
Median 1.313197636
Mode 1.353363107
Standard Deviation 0.276334229
Sample Variance 0.076360606
Kurtosis -0.335258987
Skewness 0.564650156
Range 1.132081248
Minimum 0.912908527
Maximum 2.044989775
Sum 339.0634799
Count 251
Confidence Level (95.0%) 0.034352113
ECONOMICS
Column1 EXCHANGE RATE OF USA
Mean 1.350850517
Standard Error 0.017442062
Median 1.313197636
Mode 1.353363107
Standard Deviation 0.276334229
Sample Variance 0.076360606
Kurtosis -0.335258987
Skewness 0.564650156
Range 1.132081248
Minimum 0.912908527
Maximum 2.044989775
Sum 339.0634799
Count 251
Confidence Level (95.0%) 0.034352113
⊘ This is a preview!⊘
Do you want full access?
Subscribe today to unlock all pages.

Trusted by 1+ million students worldwide
1 out of 25
Related Documents

Your All-in-One AI-Powered Toolkit for Academic Success.
 +13062052269
info@desklib.com
Available 24*7 on WhatsApp / Email
Unlock your academic potential
Copyright © 2020–2025 A2Z Services. All Rights Reserved. Developed and managed by ZUCOL.