Preview
Preview

Essay on The Australian Economy

:: 8 Works Cited
Length: 1495 words (4.3 double-spaced pages)
Rating: Blue      
Open Document
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Many opportunities and challenges await the global economies of today. The balancing of one country’s financial position has the capability to bring down an entire nation in an instant. One country’s financial gains require financial losses of another. The Australian economy is currently undergoing a major shift that is leading to low productivity and increased unemployed. Despite its current growing pains, the Australian economy remains resilient and is positioned to continue into its “23rd year of uninterrupted annual economic growth”.
Australia is comprised of six states and a land mass size of 2.9 million square miles. The country is sometimes referred to as the world’s largest island. Australia is the world’s sixth largest country as measured by land size and has the world’s twelfth largest economy as measured by total GDP (nominal). Australia has the world’s largest supply of lead, nickel and zinc and is a global leader in the mining industry. Australia is one of the wealthiest developed countries in the world with the fifth largest per capital GDP (nominal) income of A$67,722. At the same time, Australia has a large inventory of high home prices and some of the highest household debt levels in the world.
Australia’s population has grown exponentially over the past 10 years and is mainly due to immigration. Approximately 28% of Australia’s current population was born outside the country and the rate is almost twice that of other advanced economies. Australia’s population increases are the opposite of what is happening in other advanced economies as population growth rates have been declining over the past several years. Demographic trends are an important factor in many economic decisions and have a significant imp...


... middle of paper ...


...Summary&prodno=5206.0&issue=Dec%202013&num=&view=>.
Australia's Climate Plan: Are You Serious? BRW. N.p., n.d. Web. 21 Mar. 2014. .
MYEFO 2013-14. 2013-14 Commonwealth Budget. N.p., n.d. Web. 17 Mar. 2014. .
Repealing the Carbon Tax. Department of the Environment. N.p., n.d. Web. 17 Mar. 2014. .
"Reserve Bank of Australia." RBA: Inflation Target. N.p., n.d. Web. 14 Mar. 2014. .
"Trade - Australian Government Department of Foreign Affairs and Trade." Trade - Australian Government Department of Foreign Affairs and Trade. N.p., n.d. Web. 13 Mar. 2014. .



Click the button above to view the complete essay, speech, term paper, or research paper








This essay is 100% guaranteed.


Title Length Color Rating  
Australia Must Diversify the Economy Essay - The economist describes the definition of a banana republic as “a country dominated by foreign investment and dependent on a single export commodity” (The Economist. 2014). This definition has some correlation to the Australian economy as over previous year’s Australia has experienced a commodity boom which has dominated and under pinned the nation’s economy. The development of the natural resources industry in Australia has grown the economy and has become the number export for the nation (Figure 1)....   [tags: The Australian Economy]
:: 13 Works Cited
2231 words
(6.4 pages)
Powerful Essays [preview]
Should the Australian Government Sell Medibank Private? Essay - ... The numbers of firms already in the market is fixed; most of them already are private health insurers. Another implication in the short run is that the newly privatised Medibank may try to increase premiums, this will have a negative affect on consumers however it may not even work due customer’s may change their preference and switch to a new health insurance. In the long run they may increase labour due to increasing customers. And there will be no fixed variables costs. The firm will be able to properly allocate resources for maximum output and competitive prices....   [tags: australian economy, consumers] 3125 words
(8.9 pages)
Research Papers [preview]
The Growth of the Asian Economy Essay - ... The frequency has also raised reinsurance costs (CGU Insurance Limited, 2011). Property Boom Sydney housing market is lucrative due to lower interest rates and stable prices (Gluyas, 2013). Housing valuation in Australia is over 40% of its fair value that covers over-inflation and is sustainable and less prone to get affected in any financial crises. Article talks about the loan-to-value ratio that is sought to be decreased by the borrowers coined as Ponzi Borrowers. They seek leverage and debt is relatively considered safe as it is with top 20% of the income group....   [tags: structural effects, Australian Economy] 1679 words
(4.8 pages)
Research Papers [preview]
Essay on The Current Status of the Australian Economy - The Current Status of the Australian Economy Assignment 3 A Collect, organize, present and analyse a range of data which describes the current state of the Australian economy(with respect to the trade cycle). B Describe and analyse the monetary policy stance which has been adopted by the RBA over the past 2 years. How effective is monetary policy in achieving the policy objectives of the government. Introduction Part A =================== This report contains an informed and balanced analysis of a range of data which assists in depicting the current state of the Australian economy in relation to the trade cycle....   [tags: AustralianEconomics Trade Cycle Essays]
:: 6 Works Cited
1886 words
(5.4 pages)
Strong Essays [preview]
Essay about Economic Conditions of the Australian Economy - Economic Conditions of the Australian Economy Over the past five years the Australian economy has gone through many changes experiencing both the peaks and troughs associated with business cycle. Five years ago, in the middle of 1997 Australia’s economic growth had begun to upturn after a period of recession during the ’96 year. This was unmistakably shown through the composite indicators of retail trade, dwelling investment and Australian share market valuations, all concurring with one another and demonstrating the effects of an upturn in economic growth....   [tags: essays research papers] 661 words
(1.9 pages)
Strong Essays [preview]
Structural Change and Australian Economy Essay - Structural Change and Australian Economy Structural change is the change in the pattern of production in an economy as certain products, processes of production and industries disappear and are replaced by others. The past century has seen the relative decline of agricultural and manufacturing industries, and the rise of services and new technology sectors. Structural change can be caused by a wide range of economic influences including changes in the pattern of consumer demand and technological change....   [tags: Papers] 569 words
(1.6 pages)
Good Essays [preview]
The Impact of the Global Financial Crisis on the Australian Economy Essay - Mid September 2008 saw a significant change for the Australian economy, with the collapse of the Lehman Brothers triggering the Global Financial Crisis. The Global Financial Crisis was characterised by a tightening in the availability of money from overseas markets and resulting in governments having to intervene to maintain market stability. The Australian economy and its leaders generated considerable discussion about the prospect of a global recession, while most expected the financial crisis would have a major impact on the Australian economy, a factor that was not considered was the immediacy of its effects....   [tags: Economics ]
:: 14 Works Cited
2888 words
(8.3 pages)
Term Papers [preview]
Globalisation and the Australian Economy Essay - The Impact of Globalisation on the Australian Economy Globalisation is not new. Australia has been involved in trade, investment, financial flows, technology transfers and the migration of labour since its foundation as a colony. What has changed is the size, direction and influence of these transfers, especially since 1980. There are a number of factors that have aided this transformation. They include: • The expansion of new markets – foreign exchange and capital markets are linked globally....   [tags: essays research papers] 2544 words
(7.3 pages)
Strong Essays [preview]
Australian Economy - Foreign Debt Essay - Throughout its history Australia has had to rely on foreign savings to finance its development as did America until the World War I. This savings inflow showed up as a current account deficit that averaged 2.5 per cent of GDP. The 1980s monetary explosion under Keating saw this average leap to about 4.5 per cent. The soothing argument was that this sudden rise only meant that more foreign savings are being invested in Australia. That most of the foreign debt was incurred by the private sector was waved about as proof of this proposition....   [tags: essays research papers] 729 words
(2.1 pages)
Strong Essays [preview]
Australian Economy Post World War I Essay - ... A large amount of new products were being made in Australia with Britain buying Australian wheat to commemorate Australia taking part in the war. As Germany, Austria and Hungary canceled the trade between them and Australia, Australia had to rely on themselves which opened up a lot of jobs and which meant that Australia produced 400 of their own products they had never made before. With Australia making much more products to sell overseas. Britain was the major buyer of Australia’s wheat to commemorate Australia's war effort....   [tags: britain, germany, unemployment] 660 words
(1.9 pages)
Strong Essays [preview]