Economic Reform/Policy Mix, Covers macro and micro economic reforms in Australia

Question: What role do governments have in modern mixed economies such as Australia? Using appropriate indicators (macro economic aggregates) outline the present state of the economy. In what ways is the Commonwealth government using fiscal and monetary policies to influence the Australian economy? What are the main features of the government's micro economic policy? Why is the government concerned about microeconomic reform? Synopsis: The role of government in Australia today has less influence on the …

…to improve productivity in key industries that will benefit the economy as a whole. In the 90's, the government's role in the economy is shrinking. Its main function is to provide a stable environment in which the market can function. To achieve this, the government uses a policy mix containing fiscal, monetary and MER which implemented in conjunction with one another will provide a platform where Australian firms can compete successfully in the international market.