Australian Economy Essay Example | Topics and Well Written Essays - 2000 words - 1

Australian Economy - Essay ExampleThiscontextillustrates how successful the Australian Government and the Reserve Bank of Australia read been in running the Australian economy. It also describes and evaluates themainmacroeconomic policies used by the Australian Government and the Reserve Bank of Australia (RBA). A). How Successful have the Australian Government and the Reserve Bank of Australia been in Running the Australian Economy over the last two years? In the last two years, Australia has had asoundeconomicrunning. Australiasconstructiveoutlookis maintainedby its strong financial position. A continuedphaseof Governmentbudgetspares has allowed the Australian Government, andseveralstate levels Government toretreatvast quantities of Government arrears. Net Government arrearswere eradicatedin 2005-06 making Australia a net creditor. In May 2008, the Australian Government obligated to abudgetspareequalto 1.8 per cent of GDP, some $21.7 billion. Australians self-regulating central ba nk, the Reserve Bank of Australia (RBA), is responsibleforfinancialpolicy, infastidioustokeepuserpriceincreasebetween two and three percent, on standard, over business phases (Foley, 2009 1). Australia has advanced financialstructure. Australia possesses asoundandrealisticstructureofeconomicregulations and organizations that providesassuranceforcommerceand isopento savings without unnecessary delay. There is atough, transparent,commercialgovernance projecttogether with business-orientedcommercialregulationandbankruptcymanagements. Australias long andwideperiodoffinancialdevelopmenthasbroadened its infrastructurecompetenceto the edge. Identifying the potentialcompetencerestraints eventful from this crisis, the Government devoted in 2008 to making anorganizationnamed Infrastructure Australia, toofferafresh, nationalmethodto planning, supporting and implementing the future infrastructure needs of the nation. Safe, stillandsuccessful, Australia is a progressively to a greater extent att ractiveheartfor global and localcommercialoperations (Glynn, 2010 1). The population of Australia is changing, not only theexpansionandgeneral coat of the population, butsignificantlywhere people reside and the structure of thepopulationin terms of skills, age andliterarybackground. In order toadjustto change and work onsustainable societies, peopleare supposedto incorporate environmental,communaland economic factors toofferpresentand upcoming generations with thechancetoleadstrongandsatisfyinglives. The expressive style in whichgovernmentplans and programsfacilitatetoshapeand react to changes in the population will be avitalelement in attaining a more sustainable Australia.In the 2010 election, the Government of Australia reaffirmed itsobligationto the growth of a Sustainable Population Strategy. This is important because the Australian Government was able tomanageits economy with reference work to the population of Australia. Good Australians Governance has helped in the develop ment of economy in Australia in the last two years. Lives have significantly improved, as there is a