Macroeconomic and Monetary Policy Semester 1 2017 Research Essay
Research Essay Topic
Australian Mining Boom
In the 21st century, Australia witnessed an extraordinary mining boom. Explain the impactof the mining boom on the Australian economy.
Here are some things you may consider in your essay:
1. What effect did this have on the economy?
1. Explain how it affected the components of GDP and why.
2. What happened to other macroeconomic variables? Eg interest rates,Australian dollar (exchange rates), etc.
3. Apply to any appropriate macroeconomic models we cover in this course (inparticular, use diagrams):
1. Keynesian Cross model
2. IS-LM model
3. Budget line (Government Deficit/Surplus)
4. Aggregate Demand-Aggregate Supply (AD-AS) model
2. How did the government respond?
1. Fiscal policy
2. Monetary policy
3. Show using diagrams from one of the macroeconomic models.
3. How did this affect the government deficit and debt?
1. Cyclical deficit versus Structural (NED) deficit
2. Apply to Budget line diagram
4. Independent research: references (Academic Journal Articles)
In your research assignment, you must clearly but succinctly address each specific pointmentioned in the essay topic.
Word limit: Maximum 1,500
Criteria for Marking: The quality of the essay would be evaluated on several criteria that include but not limited to: Major criteria (1) Research efforts displayed. (2) Correct application of economic theories; Understanding and analysis of facts and issues related to the topic.
Minor Criteria: (3) Style of the essay that includes but not limited to proper structure, academic wording and presentation of content. (4) Proper referencing.
Referencing requirements:
Students are encouraged to use Harvard style or APA style.