Evaluation of Macroeconomic performance of Australia and
USA.
Task Details: Students will complete a research-based
analysis and evaluation of the
macroeconomic performance of Australia and the United States
of America (USA) from 1990 to 2013/14.
Students will follow this procedure:
(1) Obtain data on key macroeconomic indicators: real GDP,
interest rates, unemployment rate, CPI, exchange rate, exports and imports.
(2) Produce tables and graphs of real GDP growth rates,
inflation rates, unemployment rates, exchange rates interest rates and rate of
change of NX.
(3) Use the information obtained in (1) and (2) above to
answer the following question:
(a) How is real GDP growth related to the other indicators
in each country? Explain.
(b) Briefly comment on the correlation between interest rate
and inflation and interest rate and unemployment?
(c) Are the macroeconomic indicators of Australia and the US
correlated with each other? Explain
(d) In which country has monetary policy been tighter in the
past decade, the US or Australia?
(e) Write a short prediction of the macroeconomic outlook
each country. Which of the two countries, Australia or USA, is more likely to
experience a recession or expansion soon?
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 be used,
but relevant and validity should be clarified with the lecturer/tutor.
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