Working individually, conduct research on the economic performance of ONE (1) country (country chosen is Australia) over the last ten years, from 2004 to 2013, applying the macroeconomic indicators of real GDP, real GDP growth rate, real GDP per capita , unemployment rate and inflation rate to argue whether you think the performance to be strong or weak.
Discuss the performance of the economy over those ten years and provide evidence and explanations for the economic performance such as a high unemployment rate, high inflation rate and/or steady, long-term economic growth. Where appropriate, you should also explain how the policies of the government aim to achieve full employment, stable price and/or economic growth.
More marks will be awarded for reports which provide more detailed discussion and in-depth analysis. The essay shall be about 2,000 words (+/- 10%).
iii) Assignment Format
The essay should be presented in the following format.
- Provide an overview of the chosen economy
Production output performance analysis:
- Real GDP, Real GDP growth rate, Real GDP per capita analysis
- Define and explain how each indicator above measures performance of the economy
- Describe and explain performance trends of the economy
- Research and explain Government’s measures adopted to achieve the production output performance
Labour market analysis:
- Describe unemployment trends based on unemployment rates
- Define unemployment and describe the typical types of unemployment in an economy
- Research and identify the types of unemployment in the chosen economy
- Research and explain Government’s measures adopted to achieve full employment
Price level analysis:
- Describe the inflation trend based on inflation rate
- Define inflation and describe the typical causes of inflation
- Research and identify the cause(s) of inflation in the chosen economy
- Research and explain Government’s measures to achieve stable price
- Summary of key highlights of the discussion
iv) Assignment Style
All sources referred to in your essay, including any diagrams, must be referenced to in-text and be included in a full reference list at the end of the assignment, according to the APA system of referencing.
2. Your assignment should be type-written.
3. Spacing 1.5 with font size 12 using Arial font style.
4. Include page no.
5. Include a Reference Page at the end of your assignment.