Cover sheet for submission of work for assessment UNIT DETAILS Unit name Macroeconomic Policy Office use only Unit code ECO20004 Assignment no. 1 Due date Name of lecturer/teacher Dr. Reza Hajargasht Tutor/marker's name : Faculty or school date stamp STUDENT(S) Family Name(s) ID Number(s) Given Name(s) DECLARATION AND STATEMENT OF AUTHORSHIP SWIN BUR Ā· NE * SWINBURNE UNIVERSITY OF TECHNOLOGY Student 1. I/we have not impersonated, or allowed myself/ourselves to be impersonated by any person for the purposes of this assessment. 2. This assessment is my/our original work and no part of it has been copied from any other source except where due acknowledgement is made. 3. No part of this assessment has been written for me/us by any other person except where such collaboration has been authorised by the lecturer/teacher concerned. 4. I/we have not previously submitted this work for this or any other course/unit. 5. I/we give permission for my/our assessment response to be reproduced, communicated, compared and archived for plagiarism detection, benchmarking or educational purposes. I/we understand that: 6. Plagiarism is the presentation of the work, idea or creation of another person as though it is your own. It is a form of cheating and is a very serious academic offence that may lead to exclusion from the University. Plagiarised material can be drawn from, and presented in, written, graphic and visual form, including electronic data and oral presentations. Plagiarism occurs when the origin of the material used is not appropriately cited. Studentsignature/s I/we declare that I/we have read and understood the declaration and statement of authorship. Further information relating to the penalties for plagiarism, which range from a formal caution to expulsion from the University is contained on the Current Students website at www.swin.edu.au/student/ Copies of this form can be downloaded from the Student Forms web page at www.swinburne.edu.au/studentforms/ - PAGE 1 OF 1
Executive Summary The OECD Economic Survey of Australia 2018 delivers a generally positive outlook, with resilient growth and rising employment being observed. Gaps are identified in transport infrastructure, skills development relevant to a global economy, and environmental considerations. Of greatest concern to the OECD is the high level of household debt as a result of long periods of inflated property prices and the level of public debt currently held by the nation. The former issue poses the greatest threat due to the high level of mortgage debt exposure within the overall Australian finance system and possible fallout from a crash in the housing market. A strategy of tightening monetary policy is proposed to increase interest rates from historically low levels, with this factor being cited as the major reason for price growth. Regulatory planning for "worst case" scenarios is also recommended. A combination of prudent spending choices, broadening of the tax base, and higher degrees of public sector efficiency are recommended as strategies to address "budget repair. Similarly, investment in infrastructure and education using empirical analysis and impartial cost/benefit approaches (rather than short term) political considerations) is recommended in conjunction with increased