Reference no: EM132220140 , Length: word count:2000

The Global Economy Assignment -

Part A: Data collection, presentation and analysis

Q1. Go to FRED's website and download the time series for i) Real GDP at Constant National Prices (Annual, not Seasonal adjusted) and ii) Total Factor Productivity at Constant National Prices for Australia, China, France, Germany, Japan, Spain, United Kingdom, and United States of America, on annual frequency, from 1950 to 2014. Report the exact name and code of the series downloaded.

For each Country, plot the series of Real GDP and Total Factor Productivity on the same graph (to adjust for different scales plot one series on primary axes and the other on secondary axes).

Using the previous figures, analyse and explain any general relationship you see between real GDP and total factor productivity, in each country. Analyse any similarities. (Word limit: 300 words)

Q2. Visit FRED's website, find and collect data for the time period 2000-2015, for Australia, Japan, France, and Germany for the following series: (i) GDP per capita (either in National Currency or in 2010 US dollars, Annual, Not Seasonally Adjusted); (ii) total central government debt, total (Percent of GDP, Annual, Not Seasonally Adjusted); (iii) Imports: Value Goods (Percent of GDP, Annual, Not Seasonally Adjusted); and (iv) Government Final Consumption Expenditure (National Currency, Annual, Not Seasonally Adjusted).

Present the data in tables. You are free to decide how many tables to use, and which variables/countries to include in each table. Each table must be numbered and have a clear heading/title indicating its contents, and a reference for the source of the data under the table.

Using the previous figures describing GDP and government final consumption, analyse and explain any general relationship you see between in the figures for each of the countries. On the basis of the data collected, analyse any similarities and differences in the performance of economies. (Word limit: 300 words)

Q3. Visit FRED's website, download and plot information for Australia. In particular download the series on i) Total Unfilled Job Vacancies for Australia (quarterly, not seasonally adjusted) and on ii) Unemployment Rate: Aged 15 and Over: All Persons for Australia (Quarterly, not seasonally adjusted), from January 1st, 1980, to July 1^st 2018.

In a graph, plot the two series for total unfilled vacancies and unemployment rate. Do you see any relationship between unemployment rate and vacancies? (Word limit: 200 words)

Part B: Short Answer Questions

Q4. Starting from long-run equilibrium, use the basic (static) aggregate demand and aggregate supply diagram to show what happens in both the long run and the short run when there is an increase in government expenditure. (Word limit: 300 words)

Part C -

Before you start this section, it is recommended that you familiarise yourself with the Economics Learning Standards for Australian Higher Education (ELS). Understanding these will help you understand the expectations of an economics graduate and articulate the skill set gained in your economics studies. The ELS have been jointly created by academics and industry, with the aim of matching employer and educator expectations.

For this part of the assignment, you are required to research the role of a macroeconomist in an institution, business or sector of your choosing. This must be a position that you can reasonably expect to apply for within the next three years. Write a report of no more than 700 words that includes:

1. A brief introduction on the organisation you have chosen, and the industry or sector they operate in (recommend 100 words).

2. A summary of the role you have chosen, including the skills required for the role. Use the Economics Learning Standards for Australian Higher Education to aid your reflection. Break down where you meet these expectations, and your areas for improvement. How would you show a recruiter that you have the required skills and experiences for your chosen economics position? (recommend 200 words)

3. Describe what drew you to your selected position. Link the chosen position to your VIPS (values, interests, personality and skills) and how the chosen position is relevant to your long-term career plan (recommend 100 words):

• If you have completed MWL101 - refer to your self-awareness test results. You may also want to consider re-taking the tests to track any changes since you took MWL101.
• Other students - you can take self-awareness tests in DeakinTALENT's Career Decisions module.
• Include your test results as appendix items in your report.

4. Reflect on the economist informational interview video; which you can find on CloudDeakin. Reflect on (recommend 200 words):

• What were some of the most interesting aspects of the interview, and how may this be relevant to your own future career?
• Did the interview raise any areas of concern for you? (e.g. skill or experience gaps, job/industry suitability)
• Has the interview left you with any unanswered questions? Who could you discuss these questions with?

5. Review the action plan you developed in MWL101. Based on your learning with unpacking a graduate job position, and watching the interview; list the actions you've completed or are working on, and what you still have to do. Did you learn anything that influences your career decision-making? (recommend: 100 words)

• Students who haven't completed MWL101, the Career Decisions module linked above will help you develop a career action plan. Your discussion here instead should focus on what you can do to address the gaps you have identified in this assignment.

Attachment:- Assignment File.rar