...Macroeconomics Assignment How a rigid Fiscal Policy saved Australia from the Global Financial Crisis TABLE OF CONTENTS: |Item |Heading |Page Number | |1. |Introduction | | |2. |Theoretical Concepts: | | | | | | | |2.1 Economic Growth | | | |2.2 Aggregate Demand and Aggregate Supply | | | |2.3 Fiscal Policy | | | |2.4 Monetary Policy | | | |2.5 The Impact of Unemployment | | |3. |Related Policy Issues | | |4. ...
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...interest rate trends. Besides, the leading roles of changing structure of economy and monetary policy for each country will be discussed in detail. Moreover, the most crucial point of this report is to analyse both historical and future money market interest rate trends in these two countries. Table of contents Transmittal document 1 Table of contents 3 Executive summary 4 Introduction 5 Australia 5 Historical Money Market Interest Rates in Australia 5 Prediction of the coming interest rate trend in Australia 7 China 7 Historical Money Market Interest Rates in China 8 Prediction of the coming interest rate trend in China 10 Conclusion 11 Appendices 12 Reference list 13 Executive summary This report aims to discuss the money market in two countries. Through a series of data and analysis, both historical and future interest rate in these two countries as well as events that lead the trends will be presented in this report. Furthermore, structural change for monetary policy that shows effects on the interest rate trends will be discussed particularly. Meanwhile, concerning the influences that financial instruments would have on the interest rate change, some basic market information such as balance between supply and demand as well as liquidity effect are demonstrated specifically. On the other hand, some forecasts of the interest rate tendency of Australia and china will also be explained. Introduction The core focus on this report is the interest...
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.......4 Implications for the economic outlook..................................................................................5 Macroeconomic overview ....................................................................................................6 Key impacts on low-income households............................................................................13 The social services sector..................................................................................................17 Services provided to individuals and families ....................................................................21 Capacity of the system to deliver .......................................................................................27 3. Australia’s economic outlook ...................................................................................... 6 3.1 3.2 4. Implications for social services................................................................................. 17 4.1 4.2 4.3 5. 6. Conclusions ................................................................................................................ 31...
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...Timmer - Cabot Professor of Development Studies emeritus. Harvard University Jeffrey C. Fuhrer - Executive Vice President and Senior Policy Advisor. Federal Reserve Bank of Boston Richard N. Cooper - Maurits C. Boas Professor of International Economics. Harvard University Thomas C. Schelling - Distinguished Professor of Economics emeritus. University of Maryland (Dated: September 21, 2011) Abstract Recent increases in basic food prices are severely impacting vulnerable populations worldwide. Proposed causes such as shortages of grain due to adverse weather, increasing meat consumption in China and India, conversion of corn to ethanol in the US, and investor speculation on commodity markets lead to widely differing implications for policy. A lack of clarity about which factors are responsible reinforces policy inaction. Here, for the first time, we construct a dynamic model that quantitatively agrees with food prices. The results show that the dominant causes of price increases are investor speculation and ethanol conversion. Models that just treat supply and demand are not consistent with the actual price dynamics. The two sharp peaks in 2007/2008 and 2010/2011 are specifically due to investor speculation, while an underlying upward trend is due to increasing demand from ethanol conversion. The model includes investor trend following as well as shifting between commodities, equities and bonds to take advantage of increased expected returns. Claims that speculators...
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...environment requires firms to adjust their strategies and adopt good financial policies to survive and sustain growth. Most firms have an important amount of cash invested in current assets, as well as substantial amounts of current liabilities as a source of financing. This paper therefore analyses the working capital structure and financing pattern of small to medium-sized Mauritian manufacturing firms, using primarily secondary data. Structural differences in working capital and the financing pattern of the sample firms are analysed and the results showed significant structural changes over the study period. The research finding revealed disproportionate increase in current asset investment in relation to sales resulting in sharp decline in working capital turnover. The analysis also revealed an increasing trend in the short-term component of working capital financing; in particular trade credit and other payables have financed the major part of working capital. This over-concentration on short-term funds is a reality of the SMEs as they often faced difficulties in raising finance and they are viewed to be informationally opaque. Using multivariate analysis, the determinant of working capital financing is investigated and the results confirmed the dominance of short-term financing, proxy as a proportion of current liabilities over total assets. Key words: Working Capital Structure; SMEs, Working Capital Financing; Multivariate Analysis INTRODUCTION Any business idea requires...
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...Parliament of Australia Department of Parliamentary Services Parliamentary Library Information, analysis and advice for the Parliament RESEARCH PAPER www.aph.gov.au/library 26 May 2010, no. 17, 2009–10, ISSN 1834-9854 Budget Review 2010–11 Last year’s Budget was framed amid a sharply deteriorating world economy which was considered the most challenging global economic conditions since the Great Depression. In 2009, the global economy contracted for the first time in the post-war era. In contrast, Australia grew by almost 1.5 per cent supported by monetary and fiscal policy stimulus, a well-functioning banking system, and strong growth in a number of East Asian economies. The third Rudd Government Budget, presented on 11 May 2010, was developed within an improving but still uncertain outlook, with events in Greece and other European Union countries reminding us of the risks to the global economic recovery. Strong economic growth in China and India is expected to continue to flow throughout the region and, despite a slower pace, the US is leading the recovery among our advanced economy major trading partners. Global economic growth is in the early stages of recovery but we should remain cognisant of the precarious economic environment which is continuing to challenge government policy makers around the globe. Once again the Parliamentary Library has produced the annual Budget Review that examines the key features of a selection of crucial measures contained...
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...1. Introduction 1.1 Background Japan has the third largest economy in the world. As it is surrounded by sea, the country’s port plays an important role in maritime transportation for both exports and imports. In March 2011, the world was affected when Japan was struck with natural disasters (Earthquake and Tsunami). This sudden disaster sent everyone around the world into frenzy. It affected Japan’s ports, shipping and logistics. As a result of the natural disasters, ports in the northern area of Japan had to stop operations after the Tsunami washed away port facilities, leaving the area in tatters. Ports such as Hachinohe, Ishinomaki and Onahama were severely damaged and it would take months before operations can resume. It will take some time for Japan to rebuild itself as this is the worst disaster to hit the country since the Hiroshima/Nagasaki nuclear bombing during the World War 2. 1.2 Objectives of Project The team will be doing a research and critical analysis on how the crisis has affected Japan’s economy and how the revival of Japan will benefit the shipping economy. The areas of focus will be on the economic impacts of the various shipping markets and other factors contributing to the crisis and forecasting the future outcome in the shipping industry. We intend to go beyond the surface and dig deep into the crisis to fully understand how dealing with a crisis really works. This includes looking at past records as well as analyzing the situation in...
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...FINANIAL CRISIS 2008 AND CORPORATE GOVERNANCE The business world is questioning whether Corporate Governance has become a mere catchphrase, divorced from the contentious problems it is supposed to solve… MEMBERS: AYUSH KUMAR-030 NIPEKSH I MAHAJAN-082 PRABHAV MISHRA-0 PRATEEK KUMAR-096 VAIBHAV JAIN-164 “Why should a financial engineer be paid four, four times... to a hundred times more than the real engineer? A real engineer build bridges, a financial engineer build, build dreams. And when those dream turn out to be nightmares, other people pay for it.” - Andrew Sheng “Contrary to the vulgar belief that men are motivated primarily by materialistic considerations, we now see the capitalist system being discredited and destroyed all over the world, even though the system has given men the greatest material comforts” - Ayn Rand “In fact, there is ultimately a limit to how much regulation can do. In the final analysis, you could write all the rules you want, but there has to be a philosophy of ethical behaviour that comes from human beings operating in a professional way” – William H. Donaldson, CFA “The global crisis was caused by “the over-50s not knowing what the under-30’s were doing” – Johann Rupert, Remgro Chairman “The first casualty of a downturn is truth” - Financial Times Columnist 30 Sept 2008 Introduction- The banking crisis was triggered by largely unregulated trading of complex financial instruments, including mortgaged-backed...
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...COURSE AND SUBJECT GUIDE POSTGRADUATE MANAGEMENT PROGRAMS 2010 The information contained in this Course and Subject Guide: • • is current only at the date it is published and Melbourne Business School is under no obligation to update the information or correct any inaccuracy which may become apparent at a later date; and is not intended to provide or make recommendation on which you should rely. Melbourne Business School reserves the right to change course content, lecturers, course time, examination procedures and other course details. To the extent permitted by law, Melbourne Business School specifically excludes any liability for any error or inaccuracy in, or omissions from, the information in this Guide and any loss or damage which you or any person may suffer. Last updated: 12 March 2010 1 2 MELBOURNE BUSINESS SCHOOL 2010 ACADEMIC CALENDAR ___________________________________________________________________ TERM 1 Thursday Monday Tuesday 14 January 18 January 26 January Orientation Evening – Weekend Mode and Standard Part Time World of Management Weekend Mode and Part Time (until Friday 22 January) Australia Day Academic School Holiday Carlton Campus on Sunday operations Monday Thursday Friday Monday Thursday Friday Friday Thursday Friday Sunday 9 February 18 February 26 February 8 March 18 March 19 March 2 April 15 April 16 April 25 April Commencement Term 1 Teaching (standard 12-week format subjects) Weekend Mode – Module 1a (until...
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...COLLAPSE HOW S O C I E T I E S CHOOSE TO FAIL OR S U C C E E D JARED DIAMOND VIK ING VIKING Published by the Penguin Group Penguin Group (USA) Inc., 375 Hudson Street, New York, New York 10014, U.S.A. Penguin Group (Canada), 10 Alcorn Avenue, Toronto, Ontario, Canada M4V 3B2 (a division of Pearson Penguin Canada Inc.) Penguin Books Ltd, 80 Strand, London WC2R ORL, England Penguin Ireland, 25 St. Stephen's Green, Dublin 2, Ireland (a division of Penguin Books Ltd) Penguin Books Australia Ltd, 250 Camberwell Road, Camberwell, Victoria 3124, Australia (a division of Pearson Australia Group Pty Ltd) Penguin Books India Pvt Ltd, 11 Community Centre, Panchsheel Park, New Delhi—110 017, India Penguin Group (NZ), Cnr Airborne and Rosedale Roads, Albany, Auckland 1310, New Zealand (a division of Pearson New Zealand Ltd) Penguin Books (South Africa) (Pty) Ltd, 24 Sturdee Avenue, Rosebank, Johannesburg 2196, South Africa Penguin Books Ltd, Registered Offices: 80 Strand, London WC2R ORL, England First published in 2005 by Viking Penguin, a member of Penguin Group (USA) Inc. 13579 10 8642 Copyright © Jared Diamond, 2005 All rights reserved Maps by Jeffrey L. Ward LIBRARY OF CONGRESS CATALOGING IN PUBLICATION DATA Diamond, Jared M. Collapse: how societies choose to fail or succeed/Jared Diamond. p. cm. Includes index. ISBN 0-670-03337-5 1. Social history—Case studies. 2. Social change—Case studies. 3. Environmental policy— Case studies. I. Title. HN13. D5 2005 304.2'8—dc22...
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...VISY PULP AND PAPER PTY LTD ENVIRONMENTAL ASSESSMENT FOR A MAJOR PROJECT TUMUT MILL EXPANSION 436 Gadara Road, Tumut, New South Wales January 2007 H:\Environmental\VPP9 Stage 2\Stage 2\FINAL EA SUBMISSION\Main Report\Visy Tumut Final Env Assessment Main Report.doc Environmental Assessment Submission Under Part 3A of the Environmental Planning and Assessment Act 1979 Statement by Authors Environmental Assessment Prepared By: Name Ms Leanne Hayes Company Visy Pulp and Paper Pty Ltd Position Project Environmental Engineer Qualifications BSc Environmental Biology Address 436 Gadara Road, Tumut, New South Wales, 2720 Co-authored and Reviewed By: Name Ms Alison McRae Company Peter J Ramsay and Associates Pty Ltd Position Associate Qualifications Bachelor of Engineering (Environmental), Bachelor of Commerce Address 3/538 Gardeners Road, Alexandria, New South Wales, 2015 Project Under Part 3A: Application Number 06_0195 Development Visy Pulp and Paper Tumut, Mill Expansion Development Location 436 Gadara Road, Tumut, New South Wales, 2720 Proponent Visy Pulp and Paper Pty Ltd PO Box 98 Tumut, New South Wales, 2720 Certification: I certify that I have prepared this Environmental Assessment report and that to the best of my knowledge: it has been prepared in accordance with Part 3A of the Environmental Planning and Assessment Act and Regulations; and the information...
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...Climate Change Impacts & Risk Management A Guide for Business and Government Published by the Australian Greenhouse Office, in the Department of the Environment and Heritage. ISBN: 1 921120 56 8 © Commonwealth of Australia 2006 This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from the Commonwealth, available from the Department of the Environment and Heritage. Requests and inquiries concerning reproduction and rights should be addressed to: The Communications Director Australian Greenhouse Office Department of the Environment and Heritage GPO Box 787 CANBERRA ACT 2601 Email: communications@greenhouse.gov.au This publication is available electronically at www.greenhouse.gov.au IMPORTANT NOTICE - PLEASE READ While reasonable efforts have been made to ensure that the contents of this publication are factually correct, the Commonwealth does not accept responsibility for the accuracy or completeness of the contents, and shall not be liable for any loss or damage that may be occasioned directly or indirectly through the use of, or reliance on, the contents of this publication. Climate Change Impacts & Risk Management A Guide for Business and Government Prepared for the Australian Greenhouse Office, Department of Environment and Heritage by: Broadleaf Capital International Marsden Jacob Associates CONTENTS A What This Guide Is About 1 Introduction 1.1 Purpose...
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...How China rises What lessons can be drawn from China's spectacular and sustained economic growth? As Hu Jintau remarked at the 17th Congress of the Chinese Communist Party, the period since the previous Congress five years ago has been extraordinary. China's economic achievements have been arousing not only astonishment and admiration but also some anxiety. In the past twelve months alone, The People's Republic of China (PRC) has overtaken Canada as the biggest source of imports to the USA, and overtaken the USA as the biggest source of imports to the European Union. Concern about the low level of investment in Africa has been displaced by concern about the effects of the high level of Chinese investment in Africa; there is now even anxiety about the effects of investment by Chinese state-owned firms into the Western economies. The Chinese Communist Party is also expressing concerns. The themes of its 2007 Congress included protection of the environment and the achievement of social harmony. According to some estimates, China has displaced the USA as the world's biggest source of greenhouse gases. Inequality is rising as fast as pollution: China now has over 800 individuals with a personal wealth of more than a hundred million US dollars each, up from 500 in 2006; while the average income in rural areas of China is 480 dollars per year. Made in China. Hu Jintau's remark on the extraordinary nature of the most recent years can be faulted in only one sense: China has...
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...Global Employment Trends 2012 Preventing a deeper jobs crisis INTERNATIONAL LABOUR OFFICE • GENEVA Copyright © International Labour Organization 2012 First published 2012 Publications of the International Labour Office enjoy copyright under Protocol 2 of the Universal Copyright Convention. Nevertheless, short excerpts from them may be reproduced without authorization, on condition that the source is indicated. For rights of reproduction or translation, application should be made to ILO Publications (Rights and Permissions), International Labour Office, CH-1211 Geneva 22, Switzerland, or by email: pubdroit@ilo.org. The International Labour Office welcomes such applications. Libraries, institutions and other users registered with reproduction rights organizations may make copies in accordance with the licences issued to them for this purpose. Visit www.ifrro.org to find the reproduction rights organization in your country. Global Employment Trends 2012 / International Labour Office – Geneva: ILO, 2012 1 v. ISBN 978-92-2-124924-5 (print) ISBN 978-92-2-124925-2 (web pdf) International Labour Office employment / unemployment / labour force participation / economic recession / developed countries / developing countries 13.01.3 Also available in French, Tendances mondiales de l’emploi 2012 (978-92-2-224924-4), Geneva, 2012, and Spanish, Tendencias Mundiales del Empleo 2012 (978-92-2-324924-3), Geneva, 2012. ILO Cataloguing in Publication Data The designations employed...
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...Trends Shaping Tomorrow’s World By Marvin J. Cetron and Owen Davies Forces in the Natural and Institutional Environments Introduction For nearly half a century, Forecasting International has been tracking the forces that shape our future. Some 20 years ago, we codified our observations into a list of trends that forms the basis for much of our work. For each of our projects, we compare the specific circumstances of an industry or organization with these general trends and project their interactions. This often allows us to form a remarkably detailed picture of what lies ahead. This is Part Two of FI’s periodic trend report. It covers trends in energy, the environment, technology, management and institutions, and terrorism. (Part One, published in the May-June 2010 issue of THE FUTURIST, tracked economic, population, societal, family, and work trends.) Because this forecast project is ongoing, the authors — and the World Future Society — welcome your feedback. 38 THE FUTURIST July-August 2010 © 2010 World Future Society • 7910 Woodmont Avenue, Suite 450, Bethesda, MD 20814, U.S.A. • All rights reserved. JULIEN GRONDIN / ISTOCKPHOTO Energy Trends 40% in 1999 to about 37% in 2020. n Despite efforts to develop alternative sources of energy, oil consumption is still rising rapidly. • The world used only 57 million barrels of oil per day in 1973, when the first major price shock hit. By 2008, it was using 86 million barrels daily...
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