StudentShare solutions
Triangle menu
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Australian Macro-Economy - Essay Example

Nobody downloaded yet
The macro-economic environment supporting the Australian micro-economic reforms have been satisfactory is some respects, but notably deficient in other areas. It is imperative to examine these developments briefly, since, if the major problem areas are not resolved, they have the potential to disrupt the genuinely significant achievements and frustrate the path towards an internationally oriented and efficient economy. The purpose of this section is to examine briefly the salient features of the macro-environment. This article also alludes to some of the effects of the reforms. It does not attempt to provide a comprehensive assessment, which would be beyond the scope of this chapter, and arguably premature.
Fiscal Policy
Throughout most of the reform period, fiscal policy was reasonably conservative. The Australian Labor administration inherited a large fiscal deficit in 1982/3, in consequence partly of a severe recession. The government proceeded to reduce this deficit progressively through the decade. By 1987/8 a modest surplus had been achieved, and was maintained for the next three years, before another serious recession forced a change in policy. For a short period, also, the administration reversed the post-war trend towards an ever-larger government presence in the economy. Economic growth remained quite buoyant during this period, although inflation continued to exceed that of major trading partners, while remaining below 10 per cent after 1983. The recession of the early 1990s was the major mistake in macro-economic management over this period. ...Show more
Cite this document
  • APA
  • MLA
(“Australian Macro-Economy Essay Example | Topics and Well Written Essays - 1750 words”, n.d.)
Retrieved from
(Australian Macro-Economy Essay Example | Topics and Well Written Essays - 1750 Words)
“Australian Macro-Economy Essay Example | Topics and Well Written Essays - 1750 Words”, n.d.
  • Cited: 0 times


This analysis highlights the critical importance of macro-economic management in a reform program designed to make the Australian economy more internationally oriented. Macro-management is not the key ingredient in the process; rather, the essential building blocks have been trade liberalization…
Australian Macro-Economy
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Australian Macro-Economy"
with a personal 20% discount.
Grab the best paper

Check these samples - they also fit your topic

Australian Economy
In year 2009, a leading forecaster anticipated that the economy of Australia would dip with regards to performance. One of the reasons why this forecaster expected such is because there was very slow growth in a closely related economy of China. According to Access Economists, an Australian research company, the prospects for the mining-oriented economy were that the performance of the economy would really become dismal.
8 pages (2000 words) Essay
Australian Economy over the Last Two Years
You need to review the report carefully. Ask yourself: * Where there is matching material, is there a sufficient amount to indicate that the Writer has taken the material from a source, or is it just a fragment? * If the Writer has taken material from a source, have they properly referenced it?
8 pages (2000 words) Essay
Australian Economy
Australia was predicted to develop again in 2008-09 at a percentage of 2.75 which is higher than the standard development rate associates of the Organization of Economic Cooperation and Development (OECD) of 2.2 per cent. In addition, Australia ranks in the first position, in the Asia-Pacific area, for service, farming, and industrial efficiency per person in employment, according to the IMD World Competitiveness Yearbook.
8 pages (2000 words) Essay
Australian Economy
227). These disparities not withstanding, Harris and Harris (1992) report that the aggregate gross product growth rate was above national growth rate in most parts of the Oceania region and beyond. This analysis speaks of the strong economic history that Australia has possessed over the years.
8 pages (2000 words) Essay
Australian Economy
Australia registered an annual growth of 3.2% in the GDP till the second quarter of 2010 (The Australian Bureau of Statistics, 2010) which is unlike other developed economies that have displayed either slower growth or negative growth. This rate of growth equalled the thirty year average for the Australian economy and was greater than the forward estimates for economic growth predicted in 2009 (Australian Government, 2010).
8 pages (2000 words) Essay
Australian Economy over the last two years
When one views at the annals of world history, it has been clearly validated that for a nation to elevate itself to the top echelons, it has to have an optimal, strong and ever growing economy. If a country’s economy faces obstacles, and goes into a recession due to various factors in its macro as well as micro environment, it will lead to a lot of problems for the country’s functioning, its business and it citizens.
8 pages (2000 words) Essay
Business Cycle Properties and Marco Forecasting of the Australian Economy
Real GDP is the measure of a country’s economic health and performance, however there are a number of components that comprise the GDP: these are productivity, expenditure, investment and nominal variables. This study demonstrated that labour productivity and private consumption expenditure variables coincident with GDP are robustly procyclical, and are leading indicators to a more moderate extent.
8 pages (2000 words) Essay
Australian economy
These have three questions in this essay Contents Question a 3 Question b 4 Question c 7 Conclusion 8 References 9 Bibliography 10 Question a The current characteristics of the Australian economy are governed by high terms of trade. It can be accounted that the rate has taken the falling curve recently but it cannot be ignored that the rate has remained historically high.
5 pages (1250 words) Essay
Singapore's Macroeconomy
Singapore had Briefly joined the Malaysian Federation in 1963 and then a quick separation followed in the year 1965 (CIA, 2013). For a concise period in 1960s, Singapore followed a protectionist policy. Since 1970, it had followed a free trade policy enhancing market competitiveness and deregulation of government intervention (CIA, 2013).
12 pages (3000 words) Essay
Australian economy
Australia registered an annual growth of 3.2% in the GDP till the second quarter of 2010 (The Australian Bureau of Statistics, 2010) which is unlike
8 pages (2000 words) Essay
Comments (0)
Click to create a comment
Let us find you another Essay on topic Australian Macro-Economy for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us