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What type of market do Australian Banks operate in

Assignment Help Business Economics
Reference no: EM132327500

Economics Assignment -

Instructions - Answer each question directly. You do not need to present answers in essay or report form. Make sure you explain your diagrams and answer all parts of each question. You do not need to write a huge amount for each question. The word limit is around 800-1500 words. Use the minimum number of words to answer the question (but make sure you answer it fully).

Part A: Microeconomics

Article - Why did our banks survive the Global Financial Crisis? By Stephen King.

Use the article on banks and the global financial crisis to answer the following questions.

1. What type of market do Australian Banks operate in? How has the Global Financial Crisis affected competition in this market? Explain your answer.

2. Assume the biggest four banks in Australia decided to collude and agree to charge a high price on banking products. Graphically demonstrate the price and output in this market and explain your diagram.

3. How and why is the government seeking to increase competition in the banking sector? Explain your answer with reference to the diagram you constructed in Question 2.

4. Briefly describe what triggers entry in a competitive market and the process that ends further entry. Use a graph in your explanation.

Part B: Macroeconomics

Consider the following three sources of macroeconomic analysis and data.

Source 1: Fiscal and monetary policy-renewed international debate.

Key issue - The global financial crisis has sparked renewed international debate about the roles and conduct of fiscal and monetary policy.

Source 2: Disastrous jobs data will create more work for the RBA.

Source 3: Economic Data (Trading Economics).

Use the three sources to answer the following questions.

1. Explain how "discretionary fiscal policy" can be "countercyclical" and be used to support aggregate demand. Use an AD/AS model to support your answer.

2. Use an AD/AS model to demonstrate where the Australian economy was operating in 2014 in relation to full employment and explain the reasons for this. Based on your diagram, the above sources and your own research what phase of the business cycle do you think the Australian economy was in? Explain your reasoning.

3. Based on your research, evaluate the fiscal policy the government is pursuing. Do you believe this is appropriate given the state of the economy? Why or why not? Use an AD/AS diagram in your discussion.

4. Based on your research, evaluate the monetary policy the RBA is pursuing. Do you believe this is appropriate given the state of the economy? Why or why not? Use an AD/AS diagram in your discussion.

5. What effect do you think the lower dollar could have on inflation in Australia? Why? If in 2015 inflation rose to 4% and unemployment rose to 7% what fiscal policy would you advise the government to pursue? Why? Demonstrate the effects of your proposed policy using an AD/AS model.

Do not forget to include a reference list for any sources apart from lectures or tutorials. You also need to include in text references.

Attachment:- Assignment File.rar

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10 questions on microeconomics and macroeconomics have been solved. The questions concerned the Australian economy. Graphs were drawn and explained too. Answers required deep understanding of economics.

Reference no: EM132327500

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Reviews

len2327500

6/24/2019 3:38:39 AM

Length: 1000 words. It is an questions answer assignment. We have to write answers of questions from the paragraph given and we have to include graphs also. Instructions - Answer each question directly. You do not need to present answers in essay or report form. Make sure you explain your diagrams and answer all parts of each question. You do not need to write a huge amount for each question. The word limit is around 800-1500 words. Use the minimum number of words to answer the question (but make sure you answer it fully). Reference your answers if you are using information from another source using in-text referencing and include a reference list at the end of the assignment. Five (5) marks are awarded for this. You do not need to reference lectures and tutorials.

len2327500

6/24/2019 3:38:33 AM

You can insert pictures/diagrams by: Drawing them in programs like “paint” and pasting it into the document. Drawing them by hand, scanning and then pasting them as a picture into the word document. Do not simply copy pictures of graphs from the internet. You have to draw them yourself. Do not forget to include a reference list for any sources apart from lectures or tutorials. You also need to include in text references. A referencing guide is available on the portal under assessments. Both of these will count for 5 marks. Word Limits for Written Assessments - Submissions that exceed the word count by more than 10% will cease to be marked from the point at which that limit is exceeded.

len2327500

6/24/2019 3:38:26 AM

Late assignment submission penalties - 1 - 9 days 5% per day for each calendar day late deducted from the student’s total marks, 10 - 14 days 50% deducted from the student’s total marks. After 14 days Assignments that are submitted more than 14 calendar days after the due date will not be accepted and the student will receive a mark of zero for the assignment(s). Note - Notwithstanding the above penalty rules, assignments will also be given a mark of zero if they are submitted after assignments have been returned to students.

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