Impact Of The Australian Economy On Australia s Performance

The Australian economy is playing a crucial role in terms of global economy. Based on the government’s analysis, Australia has been placed at the top 20 for the world’s largest economy. This caused a lot of economists to pay attention to Australia’s performance. Economists use macroeconomic objectives to analyse the national economy. This essay will focus on two macroeconomic objectives, how they are measured, and how they relate to each other. Furthermore, it will also discuss Australia’s performance over the past three years (2013-2015) and predictions concerning Australia’s performance in terms of these objectives in 2016. First of all, economic growth is one of the macroeconomic objectives that the government wants to achieve as a primary goal and it happens when there is a rise in the enlarged product of population and per capita consumption. 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