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Applied economics

Economics offers varied courses to have an insight on to the functioning of a country vis-a-vis the other counterparts in relation to the factor influencing the income, wealth and wellbeing, and how it can be imbibed into the formation of policies.Economics defines the lifeline of a nation. From production to consumption, economics looks at the usage of resources & the distribution system involved in reaching to the desired market of consumption. This involves studying areas of politics, sociology, law, psychology, geography and history, at local and global levels.  

Q1- Using data from the Australian Bureau of Statistics (ABS) examine the contribution of all the various components of aggregate expenditure to recent performance in the Australian economy. Given this information, consider where the economy may currently be in the business cycle and present your analysis using aggregate demand and aggregate supply. Briefly consider the policy implications of this position.

Tasks:

  • Demonstrate understanding of theory.
  • Ability to utilize data.
  • Examine contributions to GDP growth (NOT simply contributions to GDP).
  • Present findings in terms of macroeconomic equilibrium and consider policy implications of this position. 

In Australia, the Gross Domestic product that is is the overall cost of the products and services which is produced within Australia in a designated time period. It does not allow for the devaluati... on of the equipment. This is the reason it is known as the Gross Domestic product.The aggregate investment is the sum of the investment commenced in the economic system by the factors during a precise period. The total amounts of firms as well the national policy are defined by the aggregate expenditure.

Share a story about a change that you experienced. What specifically was the target of change? How did the change unfold? When it was over, did you notice things had indeed changed, or did things return to what they were before the change? (Even if you have no current work experience to draw from, think about a change you were involved in as a member of a community group or a volunteer group.)

Since my profession with a retail company, I had once experienced a structural change completely the industry. I believe such transformation is determined by the effects of both domestic and extern...

pany, I had once experienced a structural change completely the industry. I believe such transformation is determined by the effects of both domestic and external factors. For coping up with the diver

Show evidence of understanding issues of definition and measurement when investigating unemployment. Demonstrate the ability to compare and contrast different theories of unemployment and critically analyse their attendant assumptions.

• Assess the relevance of these theories in understanding UK unemployment.

• Support the analysis with the appropriate time series data and other relevant statistics.

• Demonstrate reflective use of relevant literature and correct citation.

Non-accelerating inflation rate of unemployment  is the level of unemployment below which the rate of expansion rate rises. Milton Friedman proposed the concept of reasonable rate of unemploym... ent. In order to counteract the increase in the inflation rate above a given target level, the financial policy is generally completed by the government under the assumption of NAIRU so that the minimum unemployment in the economy is allowed.

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