Choose three macroeconomic variables and collect the data for these variables for Australia and one...

Question

Choose three macroeconomic variables and collect the data for these variables for Australia and one other country of your choice. (For example (but not limited to), GDP, GDP growth, unemployment, underemployment, terms of trade, inflation, interest rates, etc.). Your data should cover a period of 15-30 years. Critically compare the similarities and differences between Australia and the other country you have chosen a. What is similar? b. What is different? c. Reasons for these similarities and differences. 2. Choose a time period within the data that you have collected and for one of the countries highlight the economic fluctuations (business cycles) within that period. Explain what might be the cause of the economic fluctuations and support your argument with your data. A grading matrix will be made available during we
	
Document Preview: ECON8069 Assignment 
 
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Due date:  Friday 26th May 5pm via Turnitin 
Word Limit: 800 words. This does not have to include tables and graphs, 
however, make sure that you explain all tables and graphs you use.

Your assignment will consist of two parts: 
1. Choose three macroeconomic variables and collect the data for these 
variables for Australia and one other country of your choice. (For example 
(but not limited to), GDP, GDP growth, unemployment, underemployment, 
terms of trade, inflation, interest rates, etc.). Your data should cover a 
period of 15-30 years. 
 
Critically compare the similarities and differences between Australia and 
the other country you have chosen 
a. What is similar? 
b. What is different? 
c. Reasons for these similarities and differences.  
 
2. Choose a time period within the data that you have collected and for one 
of the countries highlight the economic fluctuations (business cycles) 
within that period.  
 
Explain what might be the cause of the economic fluctuations and support 
your argument with your data.

A grading matrix will be made available during week 8.

David · Accepted Answer

1 
 
 
Figure 1 – Graph showing unemployment rate for Australia and India
  Unemployment rate (%) GDP in US $ constant 2010 Inflation rate (%) 
  Australia  India Australia India Australia India 
2000 6.28 4.31 846108898621.92 811546865004.15 3.79 1.78 
2001 6.74 3.78 862433612000.71 850695611990.15 2.51 1.75 
2002 6.37 4.32 895694974590.39 883055863129.09 -0.27 3.57 
2003 5.93 3.93 923199964418.40 952467422610.68 0.53 2.94 
2004 5.39 3.89 961506986893.90 1027930812764.80 2.36 13.35 
2005 5.03 4.4 992339076659.35 1123372456742.38 3.96 9.47 
2006 4.78 4.33 1021939264106.67 1227441219404.62 2.97 10.81 
2007 4.38 3.72 1060340245233.55 1333101870914.04 3.19 13.05 
2008 4.23 4.15 1099643871866.03 1384972292309.54 2.65 2.99 
2009 5.56 3.91 1119653852349.08 1502414949729.49 2.91 0.57 
2010 5.21 3.55 1142250506474.06 1656562168648.57 3.9 5.09 
2011 5.08 3.54 1169431057881.91 1766530791975.94 6.06 3.08 
2012 5.22 3.62 1211913217353.49 1863407632743.79 5.86 6.46 
2013 5.66 3.57 1241484494446.53 1985280118470.44 9.46 16.92 
2014 6.07 3.53 1272519759757.29 2127811984033.45 15.11 28.6 
2015 6.06 3.49 1301024566003.86 2296627145883.42 12.07 5.73 
 
Source: World Bank 2017
In the above graph, the unemployment rate of two countries Australia and India are shown 
from the year 2000 to 2015. From the year 2000, the unemployment rate remains high at 
6.28% in Australia which was around 2% higher than that in India during that time period. 
Thereafter, it was initially rising in Australia during 2001 but it was falling in India at that 
time because of higher investment in industries and rise in opportunities in manufacturing 
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sector. Between 2003 and 2004, the rate kept falling in both the countries because of lower 
growth rate in both the countries leading to fall in further job opportunities as production 
activities were not progressing as such. From 2006 to 2008,

Choose three macroeconomic variables and collect the data for these variables for Australia and one other country of your choice. (For example (but not limited to), GDP, GDP growth, unemployment,...

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