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MACROECONOMIC PERFORMANCE OF AUSTRALIA: CRITICAL ANALYSIS OF 1990 TO 2015
By (Student’s Name)
Course
Professor
University
City and State
Date
Introduction
The Australian economy experienced a severe recession over the last few decades. In the 1990s there was a slow growth in the real GDP which consistently began to show a fall towards the mid-1990s. The rate of unemployment cases was increasing, and the inflation became a significant problem in the economy (Burkhauser, Daly, and Lucking, 2013, pp. 360). Following the severe recession that faced the country, the government did strive to seek measures to solve the problem at hand. Therefore, the state began to recover from the economic rapture in the mid-1990s onwards. Although the process was slow and gradual, a positive result was seen in the improvement of the unemployment cases (Fels, 1995, pp. 32). The economy in the country continued to depict a positive growth up to the mid-2000 and thus recording the longest economic expansion in the Australian economy therein. Besides, the performance in the Australian economy then became almost similar to that of the United States. From the brief explanation, it is notified that there are some economic disruptions experienced in the Australian economy from the years 1990 to 2015. Therefore, the paper aims at critically analyzing the macroeconomic events that occurred in the Australian economy in the stated years. Further, the analysis integrates major economic …