Assessment Activity F: Commentary One
Semester 2 2015
Weighting: 10%
Length: 1000 words
Due: 13th April 2015 Final Draft (Assignment box level 1 by close of school) 20th April 2015 Final Submission (Assignment box level 1 by close of school)

STATEMENT OF PURPOSE

The assessment provides the student with an opportunity to apply knowledge of government economic management policies to the pursuing of economic sustainability

This assessment task is broken down into four (4) unit activities to be completed at the end of each unit starting 23rd February 2015 and submitted to Moodle for draft feedback
Unit Activities (What are the unit activities) • Introduction (economic objectives) / monetary policy • Fiscal policy • Micro Economic Reform (M.E.R) • Evaluation of the government's policy mix Tasks
Your investigation must cover ALL of the following aspects:
Week 1:
Using economic data as support, outline the past (last 5 years) and current trends in Australia’s GDP Annual Economic Growth and the unemployment rate.
Compare the changes in the macroeconomic policy and the achievement of Full Employment over the last 5 years using economic data trends.

Introduction
What is economic sustainability • briefly outline the main economic objectives of the Australian government (economic growth, full employment and price stability) • state the Australian government target rates for real GDP, unemployment and inflation Monetary Policy • Briefly define what monetary policy is and how it is implemented • Explain, in some detail, the macro policy change that has been implemented by the RBA (monetary policy) since July 2014. • Clearly explain how the policy should operate with regards to aggregate demand based on the above policy change • Briefly discuss one strength and one weakness of the policy
Week 2:
Fiscal Policy • Briefly define what fiscal policy is and how it is implemented • Explain, in some detail, the macro policy change that has been implemented by the government since May 2014 • Clearly explain how the policy should operate with regards to aggregate demand based on the above policy change • Briefly discuss one strength and one weakness of the policy
Week 3:
Micro Economic Policy (M.E.R) • Briefly define what micro economic reform is and how it is implemented • Explain, in some detail, one (1) micro policy that has been implemented by the government in the past 10 years • Clearly explain how the policy should operate with regards to aggregate supply • Briefly discuss one strength and one weakness of the policy
Week 4:
Evaluation of Policy Mix • using economic data evaluate the overall success of the government’s economic policy mix in pursuing economic sustainability • compare the Australian government target rates for real GDP, unemployment and inflation to the actual rates • provide one (1) example of opportunity cost to the government in pursuing economic sustainability