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ECON928 – Economics for Modern Business

ECON928 – Economics for Modern Business


Describe and compare the economies of Australia and Canada


The objective of the assignment is to contribute to the learning outcomes for this subject by providing practice in

1. Investigating the financial qualities of two economies, choosing a predetermined number of factors which best depict their likenesses and contrasts.

2.Getting information portraying those qualities, translating and displaying them plainly and basically as an ‘image’ of a genuine organization.

3. Investigating basic foundation on the two economies so as to clarify their current monetary circumstance and propose their reasonable future states and utilizing this material to outline the variables at work in the two economies, concentrating on the distinctions and likenesses among them, and what this may recommend as far as their particular business conditions


Additional Information for Assignment 2

1. Your Assignment should be presented as a business report and the format should be as follows:

  • Cover Page
  • Executive Summary
  • Content Page
  • Introduction
  • Analysis
  • Conclusions
  • Implications
  • Marking Criteria

2. Prepare an analysis plan for this assignment. The following are few important points.

a. Useful data sources

Reserve Bank of Australia 
Australian Bureau of Statistics 
Reserve Bank of Canada 
Statistics Canada 
International Monetary Fund; in particular search for country reports 
OECD publication; difficult to access, but you can try.  

b. National Output and Expenditure 5 years data; Annual or Quarterly

  • Output – Sectoral composition of the economy
  • Expenditure – Consumption, investment and savings

c. Prices, Wages and Employment 5 years data; Annual or Quarterly

  • Prices – Inflation – use Consumer Price index
  • Wages – be careful with currency
  • Employment and labour force – unemployment rate, migration and skill shortage

d. External Sector Trade in goods- Export performance, import performance, trade balance, terms of trade, direction of trade


  • Trade in services– Transport services, travel and tourism, others
  • Current account balance
  • External Debt
  • Exchange rate movement
  • Trade agreements?


e. Fiscal policy and government finance 5 years data; Annual or Quarterly

  • Government budgetary operation – revenue, expenditure and fiscal balance
  • Government debt


f. Monetary sector 5 years data; Annual or Quarterly

  • Development in monetary aggregates – Broad money supply,
  • Interest rates – Money market, deposit and lending rates


g. Macroeconomic development, stability. Policy responses and outlook Real, external, fiscal and monetary sector developments up to 2015


  • Development in monetary aggregates – Broad money supply,


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