A comparison of two economies UAE and Australia


Research Paper (postgraduate), 2012

16 Pages, Grade: A


Excerpt

Contents

Executive Summary

Introduction

The Australian Economy

The UAE economy

Macroeconomic analysis of the Economies
Australia
GDP
Household final consumption expenditure
General Government final consumption expenditure
CPI & Inflation
Unemployment
Interest rates
Exchange Rates
Government Spending & Taxes
Money Supply

United Arab Emirates
GDP
Household final consumption expenditure
General Government final consumption expenditure
CPI (Consumer Price Index)
Inflation
Unemployment
Interest Rates
Exchange Rates
Government Spending & Taxes
Money Supply

Conclusion

References

Executive Summary

In this paper, we describe as well as compare the economies of two countries (United Arab Emirates (UAE) and Australia).We do this by effectively researching the economic characteristics of two national economies, and then selecting a limited number of critical variables which can best be used in describing their similarities and differences. We also research the critical background on the two national economies so as to explain their current economic situation while also suggesting their likely future economic states. The paper begins by presenting a general introduction to the two economies. This is the followed by a detailed and in-depth macroeconomic analysis of Australia’s and UAE’s economies.The specific variables to be compared are GDP and its components final consumption expenditure, General Government final consumption expenditure and gross capital formation,CPI and Inflation, unemployment, Interest Rates, Exchange Rates, Government Spending & Taxes as well as Money Supply. The analysis is specially illustrated and explained by means graph data spanning ten years. A discussion then follows followed by a conclusion on the better economy among the two.

Introduction

A comparison and description of the Australian and UAE economies is important to investors and multinationals who are interested at the country-level suitability analysis. This is because of the advantages of investing in vibrant economy and the risks associated with investing in a shaky economy. In this paper, we present a detailed comparison and description of the Australian and UAE economies with a view of coming up with the most appropriate investment destination.

The Australian Economy

Australia has a GDP of about US$1.57 trillion (CIA,2012).The Australia economy is valued at more than $6.4 Trillion and is the thirteenth largest national economy by virtue of nominal GDP. It is the 17th largest economy when measured by the level of PPP adjusted GDP.It comprises close to 1.7 percent of the global economy. The economy is dominated by the service sector (makes 68 percent of its GDP).The mining sector represents close to 10 percent of its GDP while the mining related economy sector makes 9 percent of the economy (Collebatch,2009). Australia’s economic freedom is fairly high. Te foundations of Australia’s economic freedom are quite strong and are anchored on an excellent protection of personal and private property rights as well as an independent judiciary that is very strict on corruption issues.

The nation’s modern and highly competitive economy highly benefits from its very strong commitment to the open-market policies that make its easy to trade and invest. The country also has very transparent and very efficient regulations that make entrepreneurship very dynamic.

The UAE economy

The UAE economy is valued at $360 billion. Its DGP ranks second in the category of CCASG ().

Macroeconomic analysis of the Economies

Australia

GDP

According to the World Bank (2011),Australia’s Gross Domestic Product is $1.37 Trillion US dollars at the current prices. Australia’s GDP value represents close to 2.21% of the global economy. According to the World Bank, Australia’s GDP averaged US$ 328.07 between 1965 and 2011 and reached its highest peak of US$1371.76 Billion in 2011. In 1965,it reached its record lowest level of US$25.44 Billion. The GDP is used in measuring the country’s income as well as output of the nation’s economy. It equals the national expenditures for all the goods and services that are produced within the nation in a stipulated time interval.

[...]

Excerpt out of 16 pages

Details

Title
A comparison of two economies UAE and Australia
College
University of Massachusetts Boston
Grade
A
Author
Year
2012
Pages
16
Catalog Number
V214306
ISBN (eBook)
9783656426264
ISBN (Book)
9783656438205
File size
668 KB
Language
English
Tags
australia
Quote paper
Dr Richardson Steve (Author), 2012, A comparison of two economies UAE and Australia, Munich, GRIN Verlag, https://www.grin.com/document/214306

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