07 Jun Question ECON1102 Macroeconomics: Money and Finance
Question
ECON1102 Macroeconomics: Money and Finance
Academic Year 2015, Semester II
Individual Assignment 1
(Due on Aug 27, Thursday by 12 noon)
[100 marks to be converted to 5% of unit assessment]
Please refer to LMS for submission instructions. It is very important that you read
these instructions carefully.
Part A (50 marks)
Go to the website of Australian Bureau of Statistics (ABS) at
http://www.abs.gov.au/
a) From the statistics section, find trend quarterly data on the four components of
Australias real GDP: consumption (C), investment (I), government purchases
(G) and net exports (NX). Please calculate the annual real GDP for the
financial year Sep qtr 2013/ Jun qtr 2014, the value of its four components and
the relative proportion of each expenditure component. Report your result in
the table below and round percentages to one decimal point. (32 marks)
Hints:
1) The spreadsheet with the relevant data can be found under the downloads
section. In the excel spreadsheet, you may find different series types; you need
to use the trend series;
2) You need to distinguish between real and nominal data to find the
correct spreadsheet.
3) Your calculated expenditure components may not sum up to the reported
GDP because of statistical discrepancy;
4) Please note the following relationships:
G= Government consumption + Public gross fixed capital formation;
C= Household final consumption expenditure;
I = Private gross fixed capital formation + Changes in inventories;
NX = Exports of goods and services- Imports of goods and services.
Please report the values for each item in ($)million.
Quarterly/annual
C
I
G
Sep-2013
Dec-2013
Mar-2014
Jun-2014
Annual(2013/2014)
Percentage
1
NX
GDP(sum)
a) Find the most recent quarter all groups Consumer Price Index data for
Perth and for Australia and calculate the annual inflation rate for all groups
Perth and all groups Australia from Jun 2014 to Jun 2015. Round the
results to 2 decimal points.
How does Perths inflation rate compared with that of the nation?
(18 marks)
Part B (50 marks)
Household saving rate in Australia (1980-2015)
18
16
14
12
10
8
6
4
2
0
-2
Mar-1980
Mar-1981
Mar-1982
Mar-1983
Mar-1984
Mar-1985
Mar-1986
Mar-1987
Mar-1988
Mar-1989
Mar-1990
Mar-1991
Mar-1992
Mar-1993
Mar-1994
Mar-1995
Mar-1996
Mar-1997
Mar-1998
Mar-1999
Mar-2000
Mar-2001
Mar-2002
Mar-2003
Mar-2004
Mar-2005
Mar-2006
Mar-2007
Mar-2008
Mar-2009
Mar-2010
Mar-2011
Mar-2012
Mar-2013
Mar-2014
Mar-2015
Per cent
Per cent of household disposable income
Quarter
Source: Australian Bureau of Statistics (2015), Australian National Accounts: National Income,
Expenditure and Product, Cat. No. 5206.0
Note: ”Household saving rate is the ratio of household net saving to household net disposable income.
The above figure shows time series data of Australian household net saving rate since
the 1980s. From the mid 1980s to the mid 2000s, the household saving ratio decreased
steadily. Then, between 2006 and 2012, this declining trend had been reversed and the
saving ratio increased sharply and reached new highs. More recently, the saving rate
has been falling and hits its lowest level since the GFC in the first quarter of 2015.
Please analyze the possible contributing factors behind the changing patterns in
household saving for the past three decades and organize your answers in a short
essay within the limit of 400 words.
Tips: 1) You are expected to research this topic before you start. Besides the relevant
theories covered in the lectures and textbooks, try to include at least 1-2
outside references (articles from credible journals or newspapers). Compile a
reference list in the end. Words in the reference are not counted.
2
2) You should aim to think critically and write originally. Copying entire
paragraphs directly from the textbook (or other articles) will be treated as
plagiarism.
3
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