ECON910-Economics for Professionals

Assignment

Read the article titled “Coronavirus has delivered a hammer blow to Australia’s economy. What happens next?” 

(a) Briefly summarise the main issues discussed in this article. What are the concerns associated with Coronavirus and Australian economy?

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(b) Use the national macroeconomic variables such as GDP growth, inflation, exchange rate and cash rate as the basis for describing the Australian economy over the last three years using quarterly or monthly data, and its likely development. This will be assessed according to both data acquisition and analytical capacity.

(c) Based on your data plots in part (b), provide reasons for the RBA’s move to cut cash rate. Do you agree or disagree with the adopted expansionary monetary policy? * In particular, explain the effectiveness of a cut in interest rate on boosting aggregate demand (i.e. consumption and investment). (08 marks out of 60) * Explain the role of government stimulus in increasing the effectiveness on boosting aggregate demand. 

(d) Suppose that the exchange rate stabilises at US 63C per AUD. What actions could the Reserve Bank of Australia take in order to bring the exchange rate to US 80C per AUD, and what side effects might this action have on the housing market?

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