Australia’s Real GDP and Real Wages Growth - Economics Assignment Help

Assignment Task:

Essay Topics (2000 words)

Choose one of the following macroeconomic variables:

1. Australia’s real GDP and real wages growth
2. Australia’s inflation rate and unemployment
3. Australia’s Household consumption and savings
4. Australia’s Gross domestic investment and national investment
5. Australia’s Government revenue and expenditure
6. Australia’s fiscal and monetary policy
7. Australia’s net exports and balance of payments
8. Australia’s tourism and international education sector
9. Australia’s Exchange rates and international competitiveness
10. Australia’s productivity growth and long run economic growth

TASK:

1. Explain why your variable is important and deserves to be monitored, explained and predicted.
2. Create a graph in Excel showing the evolution of your chosen variable since 1990 till June 2020.
3. Describe the evolution, noting trends, episodes and volatility of the variable/s.
4. Referring to macroeconomics textbooks, outline the main theory or theories about how your variable/s is determined.
5. Discuss the observations in (3) over the last twenty-eight years in the light of the theory and explain the effect of significant changes of the variable after GFC (Global Financial Crisis) in 2007/08.
6. Briefly discuss the policy influences on the variables.
7. Briefly summarise the conclusions of any published studies from the last twenty years about the drivers of your variable in Australia.
8. Create graphs for at least two other variables whose own evolution sheds light on that of the variable to be explained; discuss whether the relationship bears out the theory.
9. Draw conclusions regarding how much we know and how much we need to find out.
10. Conclude with a short policy recommendation to improve the variable’s movements towards the desired level.

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