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Australian Macro-Economy

  • 简介: 原文 1. IntroductionIn this essay, the three objectives are to be discussed in a small opened Australian macro-economy. Firstly, I am going to brief of the Australian economic situation in 1930’s depression. Then secondly, t...
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原文

1. Introduction

In this essay, the three objectives are to be discussed in a small opened Australian macro-economy. Firstly, I am going to brief of the Australian economic situation in 1930’s depression. Then secondly, the policies and theories, which could affect to Australia’s small and open economy, are discussed as a view of macroeconomic approach. Lastly, I would like to talk about the difficulties for Australian government to conduct policy.

2. Great Depression

In Australia, the 1920’s were a period of rapid growth in all sectors of the economy. There was a high rate of capital inflow, mainly from Britain, and the prices of Australia’s major exports, wool and wheat, were high. Great confidence led to overproduction and over investment. At that time, recorded unemployment rate fell below eight percent. However, a slow fall began in wool, wheat and mineral export prices. Britain stopped lending money and export prices fell by nearly half. These caused the depression in Australia as well as the world in late 1920’s.


  目录

1. Introduction
2. Great Depression
3. Economic cycles
4. Government Policies of Demand
5. Small and Open Economies
6. Leakages and Multiplier
7. Conclusion: Why Australian Governments has difficulties in performing policies.
References


  参考资料

Veale, J. and Walker, G. (1983) ‘Australian Macroeconomics problems and policy’, Prentice-Hall of Australia, Sydney

Morley, R. (1988) ‘The Macroeconomics of open economies’, Cambridge University Press, UK

Mackinolty, J. (1981) ‘The wasted years?’, George Allen & Unwin Australia, Sydney

Rogers, C. and Neal, P. (1994) ‘Macroeconomics and the Australian economy’, Prentice-hall of Australia, Sydney

Valentine, T. (1985) ‘The battle of the plans: A macroeconometric model of the interwar economy’, Working papers in economic history No.51, The Australian national University, Canberra

Valentine, T. (1984) ‘The causes of the depression in Australia’, Macquarie University, Melbourne

Gregory, R. G. and Bultin, N. G. (1988) ‘Recovery from the depression’, Southwood Press, Sydney

Brooks, R. and Fausten, D. (1998) ‘Macroeconomics in the open economy’, Longman Australia, Melbourne

Griffin, J. (1970) ‘Essays in economic history of Australia’, The Jacaranda press, Brisbane

Cochrane, P. J. (1980) ‘Industrialization and Dependence’, University of Queensland Press, Queensland

Boehm, E. A. (1993) ‘20th Century Economic development in Australia’, Longman Australia, Melbourne

Jalan, B. (1982) ‘Problems and policies in small economies’, Croom Helm, London

Gibson, K. and Swiericzuk, H. (1978) ‘The Australian economy: Problems and Issues’, Pitman Australia, Sydney

Catley, R. and McFarlane, B. (1981) ‘Australian Capitalism in boom and depression’, Southwood Press, Chippendale

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