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Homework answers / question archive / EFN405 Applied Economics Semester 1 2017 Assessment: Take Home Exam To be submitted via TurnItIn in EFN405 Blackboard I
EFN405 Applied Economics Semester 1 2017
Assessment: Take Home Exam
To be submitted via TurnItIn in EFN405 Blackboard
I. Background of Case
On 2009 Fiscal Stimulus
“… Governments everywhere are discussing or implementing “stimulus” packages …I doubt Australia need much fiscal stimulus, except that which improves national productivity and competitiveness …”
(“We need stimulus that boosts productivity, not ‘sugar hits’” Henry Thornton, The Australian Feb 3 2009)
“…Kelvin Rudd’s $42 billion National Building and Jobs Plan is likely to disappoint … Most of this $12.7 billion handout will be saved … What’s spent will have “no long-run benefits … (I)t has gone to capital works that will not have big supply-side payoffs …”
(“Keynes out of drawer” Michael Stutchbury, The Weekend Australian Feb 14-15 2009)
Critics have argued against the Australian government’s fiscal stimulus in 2009 claiming that it may not be effective in the short term and has no benefits in the long term. You have been tasked by the House of Representatives Economics Committee to answer the following questions:
Tables or Diagrams showing Australia’s economic growth from 2007 to 2015. Describe the trend and examine the cyclical movements. (10 marks)
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