Commerce/Economy essay!

**kazemagic** · 24 May 2012, 5:21 PM

"You will complete an in-class essay on the 'Our Economy' topic. From the question you will be required to respond to what has been provided below.

'Discuss the recent Reserve Bank interest rate cut, Federal Budget and fluctuations in the Australian dollar and their impact on the Australian economy.'

You will have fifty minutes to complete the essay. You will need to research current media articles and incorporate the findings and concepts presented in the article into your essay. Thus, a consistent review of economic articles and practise in comprehension of media information will assist you in this task."

I'm not asking anyone to do my essay, but naturally I would like some advice on it. I am having troubles on finding articles on how these factors affect the australian economy. So any recommended reads would be welcome. I am very bad at commerce, so any advice would be very helpful.

Any input would be greatly appreciated.
Thanks!

**powlmao** · 25 May 2012, 12:14 AM

I am finding this hard to believe this is for year 9 or 10. This is more a question for year 12

Lower interest rates = higher spending ( Short term), higher inflation, lower unemployment.

The budget (it's a surplus) hence revenue > expenditure creates a contraction in the economy.

Changing $AUD -affects balance of balances, affects CAD, changes terms of trade - it changes everthing

**kazemagic** · 25 May 2012, 9:37 PM

Hmm thank you guys, I shall ask more about it tomorrow. I have to do my english today :O

**Demento1** · 25 May 2012, 9:39 PM

Nearly finished all my examinations.

Edit: Also, do you have a draft answer prepared for this question. Maybe someone could help you edit it and provide feedback once you have answered the question.

**RivalryofTroll** · 25 May 2012, 9:41 PM

Originally Posted by powlmao

I am finding this hard to believe this is for year 9 or 10. This is more a question for year 12

Lower interest rates = higher spending ( Short term), higher inflation, lower unemployment.

The budget (it's a surplus) hence revenue > expenditure creates a contraction in the economy.

Changing $AUD -affects balance of balances, affects CAD, changes terms of trade - it changes everthing

Agreed.

I didn't do much Economics, if at all, in Year 10 Commerce. Mainly Business Studies and Legal Studies basic stuff.

**kazemagic** · 25 May 2012, 9:54 PM

Yea thanks Demento, will do that. Hopefully I can get a draft finished 2morrow. My exams starting next week :/

**kazemagic** · 6 Jun 2012, 7:54 PM

Just did it on Monday lol... Last minuted it, was pretty busy last week :/ Slept so late and woke so early to do it, and found out it was only worth 10%