need help with eco assignment (1 Viewer)

[rebeka94]

Hey guys, I'm really confused as to how I can incorporate the stimulus (below) in my answer. And what are the main points I must include?

"Macro economic policies impact upon the level of aggregate demand to affect the level of economic activity. Monetary policy involves influencing the level of interest rates in order to improve the achievement of the nation's economic objectives. On the one hand monetary policy aims at maximizing non inflationary economic growth in the Australian economy. On the other hand fiscal policy has changed from focusing on external balance to also focus on internal balance. Originally the focus was to reduce the call of governments on national savings so as to reduce the pressures on the Current Account Deficit and net foreign debt. More recently fiscal policy is focusing on maximizing sustainable economic growth. National saving, while still important, is no the longer the priority it once was." John Bulmer 2010

Analyse the role of macroeconomic policies in achieving economic objectives in Australia.

Any help will be greatly appreciated.

 

[Aindan]

I would talk about the changing roles of macroeconomic policy (namely monetary and fiscal) over time. Use snippets of this stimulus everywhere in your essay.
My structure:
Intro
Changing role of monetary policy.
- Theory of monetary policy (including diagrams)
- Inflationary targetting since 1990s.
- Contemporary examples with reference to relevant economic objectives.
Changing role of fiscal policy
- Theory of fiscal policy (including diagrams)
- Changing role of fiscal from trying to address external stability in the 80s but now plays a secondary role in maintaining internal balance.
- Contemporary examples with reference to relevant economic objectives.
Conclusion

All the meanwhile, slotting in your quotes to the relavant points. Maybe as a topic sentence, or supporting evidence.

 

[rebeka94]

I would talk about the changing roles of macroeconomic policy (namely monetary and fiscal) over time. Use snippets of this stimulus everywhere in your essay.
My structure:
Intro
Changing role of monetary policy.
- Theory of monetary policy (including diagrams)
- Inflationary targetting since 1990s.
- Contemporary examples with reference to relevant economic objectives.
Changing role of fiscal policy
- Theory of fiscal policy (including diagrams)
- Changing role of fiscal from trying to address external stability in the 80s but now plays a secondary role in maintaining internal balance.
- Contemporary examples with reference to relevant economic objectives.
Conclusion

All the meanwhile, slotting in your quotes to the relavant points. Maybe as a topic sentence, or supporting evidence.

So just a brief outline of what monetary and fiscal policy is and the role they play in the economy? Or should I include all of that, just in the intro?

And thankyou!

 

[Earl Luper]

Hey guys, I'm really confused as to how I can incorporate the stimulus (below) in my answer. And what are the main points I must include?

"Macro economic policies impact upon the level of aggregate demand to affect the level of economic activity. Monetary policy involves influencing the level of interest rates in order to improve the achievement of the nation's economic objectives. On the one hand monetary policy aims at maximizing non inflationary economic growth in the Australian economy. On the other hand fiscal policy has changed from focusing on external balance to also focus on internal balance. Originally the focus was to reduce the call of governments on national savings so as to reduce the pressures on the Current Account Deficit and net foreign debt. More recently fiscal policy is focusing on maximizing sustainable economic growth. National saving, while still important, is no the longer the priority it once was." John Bulmer 2010

Analyse the role of macroeconomic policies in achieving economic objectives in Australia.

Any help will be greatly appreciated.

yeah no problem bro send me a text and i'll answer u rquestions

 

[Aindan]

I suggest you define macroeconomic policies in your intro, but don't go into too great of detail into fiscal and monetary in the intro. Maybe a "Fiscal policy has had a changing role over time, from one of contractionary fiscal policy in correspondence to its objectives of external stability to a role more aimed at internal stability".
Remember, when it says "economic objectives" in the question, don't forget to mention secondary objectives such as income inequality, environmental sustainability and so forth. It would be good to have some stats in each of these areas too.