Task Details: Students will form a team of three (3) and complete a research-based analysis and evaluation of the macroeconomic performance of Australia and the United States of America (USA)from 1990 to 2013.
Students will follow this procedure:
(1) Obtain data on key macroeconomic indicators: real GDP,
interest rates, unemployment rate, CPI, exchange rate, exports and imports.
(2) Produce tables and graphs of real GDP growth rates, inflation rates, unemployment rates, exchange rates interest rates and rate of change of NX.
(3) Use the information obtained in (1) and (2) above to answer the following question:
(a) How is real GDP growth related to the other indicators in both countries? Explain.
(b) Briefly comment on the correlation between interest rate and inflation and interest rate and unemployment?
(c) Are the macroeconomic indicators in both countries correlated? Explain
(d) In which country has monetary policy been tighter in the past decade?
(e) Write a short prediction of the macroeconomic outlook each country. Which of the two countries, Australia or USA, is more likely to experience a recession or expansion soon?
Research requirements: Students need to support their analysis with a minimum of 10 academic journal articles plus the text. Students aiming for a Credit or higher grade will need to use more sources. Articles should be relevant and recent. Non-academic journal sources may also be used, but relevant and validity should be identified with the lecturer/tutor.
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