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.
Nobody downloaded yet

Australian Economy - Essay Example

Comments (0)
Summary
Australian Economy in Last 2 years Overview of the Australian economy before the last two years as a comparative Case Study The years before 2009 were periods that were characterized with unstable economic growth rate. This made Donavan (1981; p.277) concluded that “state growth rates have been persistently different to a possibly significant extent” (p…
Download full paper
GRAB THE BEST PAPER
Australian Economy
Read TextPreview

Extract of sample
Australian Economy

Download file to see previous pages... The unstable nature of growth however affected the general economic climate in a way. For instance, because the economic wave stability was generally unpredictable, investors could hardly predict what the future held for them in investing in Australia. Specific Governmental and Reserve Bank Economic Policies that were introduced in the last 2 years - Budget The budget has the tendency of deciding the future economic hopes of a country because it serves as the blueprint economic policy implementer. For this reason, the government of Australia took certain important steps by way of their budget that were directed towards ensuring economic growth. One of such policies through the budget was the fact that the government through the budget encouraged the establishment and opening of new small and medium scale businesses by the introduction of Small Business and General Business Tax Break, which was “expanded to allow a bonus deduction of 50 per cent to small businesses with a turnover of less than $2 million that acquire an eligible asset between 13 December 2008 and 31 December 2009 and install it ready for use by 31 December 2010” (Australian Regulatory Compliance Review, 2010). Again, the budget was highly focused on human resource and labor in general as the pension age was slightly increased to 67 years. This was aimed at retaining and cheering experience in the labor front and ensuring that the human resource base to man Australia’s economic drive was not depleted. Finally, the government saw a lot of hope in the future of the economy of Australia, planted in the need for the country to be self sufficient as far as production is concerned. For this reason, “The Federal Government used the Budget to launch a new paper on innovation that powered ideas paper canvasses proposed improvements and incremental changes to the existing National Innovation System” (Australian Parliamentary Library, 2010). - Interest Rates The last two years were years that the world as a global entity was resurrecting from previous years of economic shock, meltdown, crisis or however it may e described to depict an undeserving situation. For this reason, it was very important that the policies by the reserve bank and government would be centered on the people and empowering them to be investment oriented. For this reason, the periods of 2009 and 2010 was one season that the reserve bank maintained most of its lending and interest rates. The reserve bank with consultation with the government also ensured that the interest rate was generally low and affordable for borrowers. In some cases, there were even downward cuts on the interest rates and reasons for these decisions included the need to boost the demand for credit to undertake investment projects as demand for credit rose just 0.6% (Rate Detective, 2011). Again, there was the need to conform to global trend such as China cutting its official interest rate by 1.08% (Rate Detective, 2011). Such a move was necessary to ensure that investors did not opt for countries with lower interest rates but for Australia. - Export Promotion Policy In times of economic recovery, exports have been identified to be more profitable to countries than imports (Koduah, 2008). This is because exports attract a lot of revenue in the form of taxation. Knowing this, the Australian government over the last two years was not blind on putting measures ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
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
Western Australian Economy. Legal and Political Environment
Globalization has witnessed the inclusion of economic and technological resources to complete the developments witnessed within the society. Economic globalization, conversely, has been presented to complete the adaptations needed to present stable economies.
6 Pages(1500 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
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
HEALTH ISSUE PAPER
This is to imply that medical malpractices are a failure by healthcare providers and professionals to provide services to patients or clients to the expected level and could be as a result of intentional negligence or accidental, but all the same, one that needs the professionals to take responsibility for their actions.
4 Pages(1000 words)Essay
Australian Economy
The Reserve Bank acts as the central bank of Australia, and manages the monetary policy in the country. The roles of the bank include stabilizing prices, guarding the welfare of citizens, printing and issuing money, and creating full employment level in the country.
8 Pages(2000 words)Assignment
The Life of Jean-Paul Sartre
He was affectionately called Poulou. Following the passing of his father at such a tender age, he grew up with his grandfather, Karl 'Charles' Schweitzer (Jean-Paul Sartre 1905-1980) and his wife in Paris, but moved with his mother to La Rochelle, when she remarried in 1917.
7 Pages(1750 words)Essay
Let us find you another Essay on topic Australian Economy for FREE!
Contact us:
+16312120006
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