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... Similarly, the fiscal policies initiated in the federal budget will continue to encourage economic growth through employment, environment and the distribution of income. Inflation may increase due to fluctuations in the cash rate, thus effecting interest rates and ultimately economic growth. Evidently, through the macroeconomic policies in the 2011-2012 Federal Budget and specifically the six main objectives: strong economic growth (3- 4% p.a.), full employment (at NAIRU), price stability (2-3% across the cycle), external stability, equitable distribution of income and ecologically sustainable development, it can be established that macroeconomic policies impact upon the level of aggregate demand to affect the level of economic activity and is an integral part in understanding the role of macroeconomic policies (monetary and fiscal) in achieving economic objectives in Australia.
Economics essay
Australia's place in the global economy, includes: The 2011 budget, monetary and fiscal policies. Hope it helps
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| language |  | english |
| wordcount |  | 3043 (cca 8.5 pages) |
| contextual quality |  | N/A |
| language level |  | N/A |
| price |  | free |
| sources |  | 0 |
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Preview of the essay: Economics essay
Analyse the role of macroeconomic policies in achieving economic objectives in Australia. Macroeconomic policies refer to policies utilised by the Australian government to influence aggregate demand in the economy, where aggregate demand = consumption + investment + government spending + (exports – imports) or AD = C + I + G + (X-M). As stated by economist, John Bulmer “Macroeconomic policies impact upon the level of aggregate demand to affect the level of economic activity” The Australian government implements macroeconomic policies to smooth out fluctuations in the business cycle, in the short-term. It uses macroeconomic policies (monetary and fiscal policies), combined with an extensive micro reform (MER) agenda to essentially achieve the 6 main economic objectives. These include: strong economic growth (3-4% p.a.), full employment (at NAIRU), price stability (2- 3% across the cycle), external stability, equitable distribution of income and ecologically sustainable development. Monetary policy is the main ...... Similarly, the fiscal policies initiated in the federal budget will continue to encourage economic growth through employment, environment and the distribution of income. Inflation may increase due to fluctuations in the cash rate, thus effecting interest rates and ultimately economic growth. Evidently, through the macroeconomic policies in the 2011-2012 Federal Budget and specifically the six main objectives: strong economic growth (3- 4% p.a.), full employment (at NAIRU), price stability (2-3% across the cycle), external stability, equitable distribution of income and ecologically sustainable development, it can be established that macroeconomic policies impact upon the level of aggregate demand to affect the level of economic activity and is an integral part in understanding the role of macroeconomic policies (monetary and fiscal) in achieving economic objectives in Australia.
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