Critical Review
Purpose: To enable students to research, critically analyse and evaluate the macroeconomic performance of Australia. This assessment contributes to Learning Outcomes (a) and (c).
Topic: Evaluation of Macroeconomic performance of Australia.
Task Details: Students will complete a research-based analysis and evaluation of the macroeconomic performance of Australia 1990 to 2015.
Procedures:
(1) Obtain annual data on key macroeconomic indicators: real GDP growth, interest rate (cash rate), unemployment rate, inflation rate, exchange rate, and net exports (NX).
(2) Critically analyse tables of statistical summaries and graphs of the information obtained in (1) to answer the following question:
(a) Discuss the relationship between real GDP growth and each of the other five indicators. Provide plausible economic explanations, including the impact of monetary policy and fiscal policy.
(b) Discuss the relationship between inflation and unemployment rates. Provide plausible economic explanations, including the impact of monetary policy and fiscal policy.
(c) In which decade has monetary policy been tighter? Explain in detail.
(d) Write a short prediction of Australia's macroeconomic outlook for the next 2 years. Is Australia likely to experience a recession or an expansion?
Research requirements: Students need to support their analysis with a minimum of 10 academic journal articles plus the text. Students aiming for a Credit or higher grade will need to use more sources. Articles should be relevant and recent. Non-academic journal sources may also may be used, but relevance and validity should be clarified with the lecturer/tutor.
Presentation: Report format - 2500 words report - in Word.doc or .docx format
Title page, executive summary, table of contents, appropriate headings and sub-headings, recommendations/findings/conclusions, in-text referencing and reference list (Harvard - Anglia style), attachments if relevant. Single spaced, font Times New Roman 12pt, Calibri 11pt or Arial 10pt.
Data should be from 1989 as there is mention from 1990.
References APA