Describe and Evaluate the main Macro Economic Policies used by the Essay

Describe and Evaluate the main Macro Economic Policies used by the Australian Government and Reserve Bank over the last two year - Essay Example In the last two years, the government’s goal has achieved economic growth, internal and external balance within an economy thereby maintaining economic growth and low inflation as well as ensuring low foreign debt and liabilities. Although economic growth has not been constant for the last two years due to international business cycles, the government has reduced the fluctuations via influencing demand. In as much as the economy has had several ups and downs, her improved international demands and rich natural resources such as iron ore and coal. According to â€Å"International Monetary Fund,† Reserve Bank of Australia has strengthened financial system in such a way that the macroeconomic policy is devised to curb recession instead of controlling inflation (Web). Macroeconomic aggregates which include rate of inflation, GDP growth and unemployment rate can possibly reflect the performance of a country’s economy. ... even as other countries such as U.S are struggling to recover from recession, the Australian government has boosted the economy by encouraging export to Asia (125-128). The government’s move to incorporate interest rate is aimed at promoting non-mining and housing investments which play integral role in spurring economic growth. Reserve Bank of Australia further made some great efforts in controlling money supply through the open market operations which involves purchasing or selling of financial instruments (Web). This has stabilized the Australian economy for the last two years because of their eventual effect on consumption and investment. According to Soliman RBA’s monetary policy for the last two years has been directed to achieve 2-3% inflation rate on the average over the cycle and this has really stimulated economic activities without interfering with economic decisions in the economy (98-100). It is apparent that both the government and the RBA have instituted strong fiscal and monetary policies that have successfully countered the economic recession. Theoretically, reduction of interest rate would enhance aggregate demand by influencing the aggregate components such as stimulation of investments projects as borrowing would be less expensive. The attraction or creation of a good investment environment has been one of the core activities that the government has dealt with in the previous years as this will deal with unemployment issues. Soliman explains that low interest rate has enabled Australia to increase her export while reducing their imports thus enhancing net export (101-102). The monetary policy decision process in Australia which includes the RBA board has been frequently meeting to discuss new developments in both Australia and international

Discuss South Africas apartheid policy of 1948. How was it initiated Essay

Discuss South Africas apartheid policy of 1948. How was it initiated Provide historical information of the time from the passing of this policy until gaining independence in 1979 - Essay Example In 1948 the National Party, which represented primarily the interests of Afrikaners, used the idea of ​​apartheid as their program and won the elections (Black South Africans already did not have the right to vote). All South Africans were divided by race into White, Colored, Black and Indians (Asians). Different groups had different rights; of course most of them belonged to Whites. Government introduced separate education and health care, transport, social and recreational facilities, churches; mixed marriages were banned. Even shops and beaches were â€Å"for whites only† and â€Å"for others.† Development of the policy of apartheid led to creation of Bantustans (Bantoestans in Afrikaans), the areas densely populated by indigenous Black South Africans; in fact those were reservations. The South African government created ten Bantustans in South Africa and ten in the South-West Africa (Namibia), which was under the control of South Africa. In fact, Bantustans were totally dependent on South Africa, their independence was not recognized by any country in the world. South Africa’s black population was forcibly resettled in the Bantustans. South Africa’s policy openly declared that the ultimate goal of creating Bantustans would be a situation in which no man with black skin color could be a citizen of South Africa and, accordingly, would not have any rights in this country. Due to condemnation and rejection of apartheid by the countries members of the British Commonwealth in 1961 South Africa left the Commonwealth and became an independent republic of South Africa. In 1994, after the end of apartheid South Africa’s Commonwealth membership was restored. Apartheid caused a strong resistance in South Africa itself. A number of organizations, primarily the ANC (African National Congress), organized numerous protests.