In the 21st century, Australia witnessed an extraordinary mining boom. Explain the impact of the mining boom on the Australian economy. Australian Mining Boom

In the 21st century, Australia witnessed an extraordinary mining boom. Explain the impact of the mining boom on the Australian economy.
Australian Mining Boom

In the 21st century, Australia witnessed an extraordinary mining boom. Explain the impact of the mining boom on the Australian economy.

Here are some things you may consider in your essay:

What effect did this have on the economy?
Explain how it affected the components of GDP and why.
What happened to other macroeconomic variables? Eg interest rates,
Australian dollar (exchange rates), etc.

Apply to any appropriate macroeconomic models we cover in this course (in
particular, use diagrams):

Keynesian Cross model
IS-LM model
Budget line (Government Deficit/Surplus)
Aggregate Demand-Aggregate Supply (AD-AS) model
How did the government respond?
Fiscal policy
Monetary policy
Show using diagrams from one of the macroeconomic models.
How did this affect the government deficit and debt?
Cyclical deficit versus Structural (NED) deficit
Apply to Budget line diagram
Independent research: references
In your research assignment, you must clearly but succinctly address each specific point mentioned in the essay topic.

Please use the material available on how to write a good essay on the university website:

http://www.monash.edu.au/lls/llonline/writing/general/essay/index.xml

Plagiarism is strictly prohibited. You should familiarise yourself with what is plagiarism and university guidelines on plagiarism available on: http://www.monash.edu.au/lls/llonline/writing/general/plagiarism/index.xml

Wikipedia and other non-scholarly web sources should NOT be cited as authoritative sources. 1

Word limit: Maximum 1,500 but shorter is good.

Criteria for Marking:

The quality of the essay would be evaluated on several criteria that include but not limited to: Major criteria

(1) Research efforts displayed.
(2) Correct application of economic theories; Understanding and analysis of facts and
issues related to the topic.

Minor Criteria:

(3) Style of the essay that includes but not limited to proper structure, academic wording and
presentation of content.

(4) Proper referencing.
Learning Objectives assessed:

This assessment task is designed to test your ability to do independent research, and your analytical and writing skills. It is an individual task.

Referencing requirements:

Students are encouraged to use Harvard style. However, if other styles are used, consistency is a requirement.

Extensions and penalties

Applications for an extension of time allocated to an assessment task must be made by completing the application form found at URL. http://www.buseco.monash.edu.au/student/exams/speccon.html. The form must be submitted to the Chief Examiner for approval.

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