Examples/statistics that can be used in the exam.

[Hutchoo]

Hey guys, I thought it would be somewhat beneficial if there was a thread about some REAL current examples that can be incorporated in our answers to make sure we get that higher mark!

If you have good examples that relates to the 5 economic goals, PLEASE post them up!
Examples can be used in almost every question, so it'd be helpful for everyone if you could post stuff up =)

Weakness of budgetary policy (political): The debate about the value of one-off stimulus payments versus tax cuts in the 2008-09 stimulus measures.

Current economic inflationary pressures: The easing of inflationary pressures over 2009-10 after peaking at 5% in September 2008 before a further build up on inflationary pressure in 2011 (with the CPI result for the year to end June at 3.6%)

Recent Monetary policy stuff: The heavy tightening of MP between 2007-08 before a heavy loosening of monetary policy over 2008-09 and the further tightening of monetary policy since 2009 (Last IR was set at 4.75% in November 2010, a +0.25% increase from the last IR)

Example of cost-push inflation/commodity markets (China): Rising cost of agricultural products and commodities due to an increase in World demand (especially from China).

Terms of Trade/Commodities/Global economic situation: The large increase in Australia's ToT (due to the commodities boom) up to 2008 before tumbling during 2008-09 and returning to higher levels in 2010.

Example of business confidence: The large fall in consumer/business confidence in 2008-09 and the return in confidence levels earlier than expected in 2009-10 before the slowdown in 2011.

Government: http://news.ninemsn.com.au/article.aspx?id=8367033


By the way, it's okay to use examples from other countries in your answer, right? Like, if i started talking about the PIIGS/American student debt crisis, I wouldn't get marked down, would I?

On a personal note, I realllllllllllllllllllly need examples for the current policy mix!

[RossiJ]

Romeo Salla (Policy Mix):: "CURRENTLY:
These relatively restrictive settings for both monetary and budgetary policy continued into 2011 despite the negative economic impact stemming from the 2011 natural disasters.  The estimated Budget deficit for 2011-12 will be significantly lower and the RBA is keeping the cash rate at a relatively restrictive level of 4.75%.  The RBA remains focussed on controlling medium term inflationary pressures, despite signs of disinflationary forces at work over the latter part of 2011.  The Government also remains committed to its medium term fiscal strategy, with fiscal consolidation expected to assist RBA efforts to contain any inflationary pressures and to promote ‘sustainable’ growth into the future.  Numerous supply side measures continue to be delivered in order to boost participation and productivity and therefore increase the nation’s productive capacity over time (or prevent it from slowing down or falling in the future – re the carbon tax package)."