Australia and Indonesia - a Comparative Study
Comparative Study Australia and Indonesia
By
Alexander Vuong EC1101 – Sheaffe
Table of contents
Table of contents 2 Essay. 3
Appendix A – Economic Growth 6 Table A1 (World Bank Group) 6 Table A2 (CIA Factbook) 6 Figure A1 (CIA Factbook) 6
Appendix B – Economic Development 7 Human Development Index (HDI)(HDR 2011) 7 Table B1 (with indicators for HDI) 7 Figure B1 (HDR 2011) 7 Table B2 (World Bank Group) 8 Figure B2 (World Bank Group) 8 Table B3 (World Bank Group) 8 Table B4 (World Bank Group) 8
Appendix C – Economic role played by government 9 Table C1 (World Bank) 9 Health Profile (HP)(HDR 2011) 9 Table C2 9 Figure C1 9
Bibliography 10
Compare and contrast the Australian and Indonesian economies in terms of economic growth, economic development and the role played by the government.
As Australia’s closest geographical neighbour, Indonesia and Australia have contrasting economies in regards to a number of different indicators. Economic growth, the increases in real GDP of an economy over a period of years, is an indicator which determines the size of an economy[1]. Along with economic development, these factors decide the classification of an economy either as an advanced economy, or a developing economy. Economic development is changes in an economy which result in a change in economic growth and human development[2]. The final indicator which is used to distinguish between the two economies is the economic role played by the government. This includes government expenditure as well as the impact that political decisions have on the economy. Despite receiving a milder downturn as a result of the GFC than Australia, Indonesia is characterized by these three indicators as a developing economy whereas Australia is an advanced economy on all facets of its growth and development.
Economic growth is a useful indicator in the comparison of Australia’s and Indonesia’s
By
Alexander Vuong EC1101 – Sheaffe
Table of contents
Table of contents 2 Essay. 3
Appendix A – Economic Growth 6 Table A1 (World Bank Group) 6 Table A2 (CIA Factbook) 6 Figure A1 (CIA Factbook) 6
Appendix B – Economic Development 7 Human Development Index (HDI)(HDR 2011) 7 Table B1 (with indicators for HDI) 7 Figure B1 (HDR 2011) 7 Table B2 (World Bank Group) 8 Figure B2 (World Bank Group) 8 Table B3 (World Bank Group) 8 Table B4 (World Bank Group) 8
Appendix C – Economic role played by government 9 Table C1 (World Bank) 9 Health Profile (HP)(HDR 2011) 9 Table C2 9 Figure C1 9
Bibliography 10
Compare and contrast the Australian and Indonesian economies in terms of economic growth, economic development and the role played by the government.
As Australia’s closest geographical neighbour, Indonesia and Australia have contrasting economies in regards to a number of different indicators. Economic growth, the increases in real GDP of an economy over a period of years, is an indicator which determines the size of an economy[1]. Along with economic development, these factors decide the classification of an economy either as an advanced economy, or a developing economy. Economic development is changes in an economy which result in a change in economic growth and human development[2]. The final indicator which is used to distinguish between the two economies is the economic role played by the government. This includes government expenditure as well as the impact that political decisions have on the economy. Despite receiving a milder downturn as a result of the GFC than Australia, Indonesia is characterized by these three indicators as a developing economy whereas Australia is an advanced economy on all facets of its growth and development.
Economic growth is a useful indicator in the comparison of Australia’s and Indonesia’s