MAE203 Global Economy - Individual Assignment

MAE203 Global Economy - Individual Assignment

Question 1.2 [5 marks]

Using the data collected for Question 1.1 – covering the period from 2006 to 2017/2018, re-arrange the data in such a way as to present three new, comparative time-series line graphs. The first comparative graph will show the rate of growth of real GDP of Australia, the UK and Greece. The second comparative line graph will show the inflation rate of Australia, the UK and Greece. The third comparative line graph will show the unemployment rate of Australia, the UK and Greece. (Suggestion: Use different color line graphs to represent each country). (Suggestion: Improve your comments and explanations by consulting economic overviews and reports specific to the three countries/economies you are writing about).
Now provide comments and explanations about such questions as: What evidence do the data provide of the countries experiencing economic downturns and upswings in recent years? Identify the downturns and upswings with reference to the data and explain why you have identified the periods as downturns and upswings. From the data collected, discuss what similarities and differences are there in the performance of the economies? Do you see any relationship between the real GDP growth rate and the inflation rate? Do you see any relationship between the real GDP growth rate and the unemployment rate? Do you see any relationship between the inflation rate and the unemployment rate? Also contrast the performance of Greece, (a member of the Euro- zone) with the performance of the Australian and the UK economies over the entire period and NOT just during the GFC. Avoid generalities and instead offer country-specific data, comments and explanations. [Total 5 marks: 1 mark for graphs and 4 marks for explanation]