OLET1143-How Economic Policy Remade Australia ? Essay Writing - Economics Assignment Help

Assignment Task

Task 

How Economic Policy Remade Australia - Final Essay 

The essay should answer the following question:
Global inflation including that in Australia has increased over the past year. In some countries, it has been the highest in 30 years. Many argue that high inflation is caused by the government’s expansionary fiscal policy and the low interest rate in the past few years to combat the COVID-19 pandemic.

You have been asked by the government to prepare a short essay using economic arguments to provide an economic outlook for Australia in the upcoming years. In your answer, you should discuss the following:

• What are the main causes for high inflation in the world including Australia? How are they related to the COVID-19 pandemic and the war in Ukraine? This discussion should consider both demand-pull and cost-push causes of inflation.
• Why would high inflation be a concern for the Australian economy?
• What are the government and RBA’s responses to high inflation?
• How will the government and RBA’s responses to high inflation affect the macroeconomy
• including output and unemployment? How would you assess the impact of government’s fiscal policy on inflation?
• In your answer you should use economic arguments drawing on the lessons learnt in OLET1143.
• Below are a series of starter references that may be useful in considering each ofthe issues to be discussed listed above.

Guidelines
The essay should follow the following structure:

• Title Page
• A title page that includes the title of the essay and student ID. (not includedin the word count)
• Issue and Facts and Context – the current state of global inflation including that in Australia (100 words recommended)
• Discuss the main causes of high inflation? How are they related to the COVID19 pandemic and the war in Ukraine? This section must contain a discussion of main causes of inflation including both demand-pull and cost-push causes.
• Why would high inflation be a concern for the Australian economy?
• What are the government and RBA’s responses to high inflation? This section must contain a discussion on fiscal and monetary policies.
• How will the government and RBA’s responses to high inflation affect the macroeconomy including output and unemployment? How would you assess the impact of government’s fiscal policy on inflation?
• This discussion should include how these responses affect interest rates, consumptions, investments, and the labour market.
• Conclusion 

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