Economic Business Cycles
Q1a) Compare and explain the business cycle for any three of the countries listed in table 1.1 (Overseas Economic Statistics) from 1993 to 2001. Calculate annual percentage changes and use graphs in your answer.The three countries that I have chosen for my research are as following: U.S.A, Japan, and the Euro Area. In the table and graph below you can see the annual % of growth these three countries have experienced since the year 1993. When we closely look at this data and analyze every country separately we can come to an understanding of what phase of the business cycle that certain country is experiencing. U.S.A: As you can see from the table and graph below the U.S.A have experience a sustained level of economic growth all through these 8 years with the exception of 2001 and 1995. In these two years the U.S.A have experienced somewhat of a concretionary stage, which is when GDP (Annual Growth) increases at a slower rate than the year previously. The 1% drop in 1995 shouldn’t have been a big worry for the government but the 4.5% drop in 2001 would have been somewhat of a worry as it followed the Asian economic crisis of the year before. But Luckily in both cases the U.S.A were able to come out of these Co
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Some common words found in the essay are:
Real GDP, Annual Growth, Australia Australia, Australia Consumer, USA Japan, Japan Euro, JAPAN Japan, Asian Crisis, EURO Euro, USA Euro, economic growth, business cycle, business confidence, annual growth, aggregate demand, negative economic growth, expansionary phase, bank australia, reserve bank, negative economic, cycle theory, business cycle theory, phase business cycle, reserve bank australia, business cycle aggregate,
Approximate Word count = 1853
Approximate Pages = 7 (250 words per page double spaced)
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