University : Deakin Business School UniLearnO is not sponsored or endorsed by this college or university.
Subject Code : MAE203
Country : Australia
Assignment Task -                 
 

Description 
This assignment brings together the content of this unit and will provide the opportunity to use the theory  covered during the trimester to analyze and explain the real world. You are required to critically analyze the current state and future projections for the Australian economy. In writing the assignment, assume you are explaining the current economic environment to a noneconomist friend or family member.  

Specific Requirements  
The 2020 Commonwealth Budget provides the Commonwealth Government’s plans and forecasts for the economy during the challenging times presented by a global economic downturn.

Learning Outcomes 
Understand, describe and apply key macroeconomic concepts in a global context. 
Obtain and interpret data for macroeconomic variables.
critically analyze the role of fiscal policy in a globalized economy such as Australia’s

Question One 
With reference to the budget documents, use the expenditure method of estimating GDP as a framework to explain the forecast impact of each sector of the economy on economic growth for 2020-21 and 2021-22. 
Question Two 
i) The government estimates $15,600 million dollars will be spent on the Job Keeper program in  2020-21 (Appendix C). Using two diagrams- both an Aggregate Expenditure and an Aggregate  Demand/Aggregate Supply diagram -explain to a non-economist, the economic theory behind how this program is designed to influence the Australian economy in the next 12 months.  
ii) Explain the theoretically likely impact of this program on long-run inflation and unemployment.
Question Three  
Conduct your own research to analyze how the projections for economic growth in Australia in 2020/21  compare internationally. Include at least three other countries or regions in your comparison.  
Question Four 
The Commonwealth Government has forecast an increase in government debt with net debt expected to be  36.1 percent of GDP at the end of 2020-21. (Commonwealth of Australia, Budget Overview 2020-21)  
i) How does this compare with Commonwealth government debt historically and internationally?  
ii) In your opinion, is this level of debt a problem for the Australian economy in the next ten years? Why or why not? 
Question Five 
What is your overall impression of the strengths and weaknesses of the 2020/2021 Australian Commonwealth budget?  


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  • Posted on : February 04th, 2019
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