On daily occasions human beings are subjected, whether voluntary or involuntary; to situations forcing them make big decisions without any clue to their outcome. Apparently, these decisions lead some of individuals be faced by dilemmas regarding whether to execute their decisions since they do not what they need, want or desire. Nevertheless, transformative decisions are life-altering aspects that changes human cognitive thinking permanently as they acquire new status, life and a different version of self. Therefore, it becomes hard to plan and make rational decisions as no one is sure to the certainty of the underlying transformative decision being made. In his article, “The Big Decisions,”David Brooks asserts that transformative decisions may be likened with the choice of becoming a vampire where with a magical bite individual transforms to a new superhuman life. However, as notified that such a new life may be incredible, though irreversible, it may be nasty and difficulty to make the choice and acquire a new self without having a clear consent on how it feels, thereafter. Getting a child, becoming a military officer, marrying, switching religions, immigrating and change of careers are part of the transformative decisions that to a bigger extent face human beings in their living. Brooks argues that a pure version of such experience deciding on whether to have a child, or not. Empirically, individuals who have children have revealed to suffer a loss in their well-being. They appear more exhausted and tend to drive a lower satisfied life than their childless counterparts. However, once a parent the chances of presuming the former pre-parental self are minimal and infeasible. Similarly, other transformative decisions follow this lineage of irreversibility of the self. In the manner like, Brooks argues that asking the right questions is the only aspect that drives the right decision. Requirement: Prepare a report on the current state of the Australian economy and its management by the Federal government. You need to do this by examining the four economic indicators of economic growth (GDP), unemployment, inflation and trade (including the terms of trade, the current account, net foreign debt and the value of the Australian dollar). In your report you are expected to outline the target values for these economic indicators as well as the trend in these economic indicators over the last 10 years. Finally, you should outline the current macroeconomic policies of the Federal government and RBA where you think these policies may relate to these four economic indicators and comment on whether you see these policies as suitable in the present economic environment. Given your analysis, you are expected to conclude your report with policy recommendations to achieve targeted economic growth, unemployment, inflation and trade outcomes. Presentation of report The report should not exceed 1500 words. This word limit does not include the abstract, ta.

1. On daily occasions human beings are subjected, whether
voluntary or involuntary; to situations forcing them make big
decisions without any clue to their outcome. Apparently, these
decisions lead some of individuals be faced by dilemmas
regarding whether to execute their decisions since they do not
what they need, want or desire. Nevertheless, transformative
decisions are life-altering aspects that changes human cognitive
thinking permanently as they acquire new status, life and a
different version of self. Therefore, it becomes hard to plan and
make rational decisions as no one is sure to the certainty of the
underlying transformative decision being made.
In his article, “The Big Decisions,”David Brooks asserts that
transformative decisions may be likened with the choice of
becoming a vampire where with a magical bite individual
transforms to a new superhuman life. However, as notified that
such a new life may be incredible, though irreversible, it may be
nasty and difficulty to make the choice and acquire a new self
without having a clear consent on how it feels, thereafter.
Getting a child, becoming a military officer, marrying,
switching religions, immigrating and change of careers are part
of the transformative decisions that to a bigger extent face
human beings in their living.
Brooks argues that a pure version of such experience deciding
on whether to have a child, or not. Empirically, individuals who
have children have revealed to suffer a loss in their well-being.
They appear more exhausted and tend to drive a lower satisfied
life than their childless counterparts. However, once a parent
the chances of presuming the former pre-parental self are
minimal and infeasible. Similarly, other transformative
decisions follow this lineage of irreversibility of the self. In the
manner like, Brooks argues that asking the right questions is the
only aspect that drives the right decision.

2. Requirement:
Prepare a report on the current state of the Australian economy
and its management by the Federal government. You need to do
this by examining the four economic indicators of economic
growth (GDP), unemployment, inflation and trade (including the
terms of trade, the current account, net foreign debt and the
value of the Australian dollar). In your report you are expected
to outline the target values for these economic indicators as
well as the trend in these economic indicators over the last 10
years. Finally, you should outline the current macroeconomic
policies of the Federal government and RBA where you think
these policies may relate to these four economic indicators and
comment on whether you see these policies as suitable in the
present economic environment. Given your analysis, you are
expected to conclude your report with policy recommendations
to achieve targeted economic growth, unemployment, inflation
and trade outcomes.
Presentation of report
The report should not exceed 1500 words. This word limit does
not include the abstract, tables, graphs and reference list.
The report should be word processed using a font size 12 with
1.5 line spacing.
Structure of report
Your report must include:
· an appropriate title
· an abstract (sometimes called an executive summary)
summarising the report
· an introduction in which you briefly explain what you are
going to address in the report and why
· the body of the essay broken into sections (section headings
are appropriate)
· a brief conclusion that should summarise your analysis and
your predictions and recommendations
· appropriate referencing and a reference list as required.

3. Although the requirements for presentation and structure may
appear pedantic, they are not. In the business world you may
often find yourself involved in writing a report – perhaps even
for multilateral and government organisations such as the IMF
or OECD. We suggest that you devote some time to developing
this skill. Your future career can only be enhanced by your
ability to communicate effectively in writing.
Marking criteria Assignment 2
Your report will be marked against the following criteria:
· Appropriate description of the four economic indicators-
economic growth, unemployment, inflation and trade and the
trend in these indicators over the last ten years.
(20 marks)
· Succinct description of current macroeconomic policy in
Australia and appropriate assessment of its effectiveness.
(40 marks)
· Useful conclusions and recommendations about the future
direction of policy including threats to current policy settings.
(20 marks)
· Evidence in the report of a depth of research and accuracy in
referencing (Harvard Style).
(10 marks)
· Abstract, presentation, grammar, structure, etc.
(10 marks)
TOTAL FOR ASSIGNMENT 2: 100 marks (weighting 25%
of total marks for the unit)
Some advice about Assignment 2
Your short “Abstract”needs to describe the aim of the report
and a brief overview of the economic targets, government policy
and recommendations. It should be approximately 500 words.
The "Introduction" is a brief paragraph or two that outlines the
aim of the report and how the report is structured (i.e., what you

4. are examining). The content of your assignment should
generally reflect the marking criteria. REMEMBER that an
Introduction is different to an Abstract.
The "body" of the report is the content of your research and
analysis. You may want to consider dividing you report into
different sections with appropriate subheadings.
You should begin the body of your work with a discussion of
the current values of the four economic indicators under
investigation (Economic Growth (GDP), Unemployment,
Inflation and Trade) and the government targets for each of
these. You should also discuss the trends in the economic
variables over the past 10 years. This section is worth 20%.
Once you have discussed the variables you should discuss
current macroeconomic (Fiscal and Monetary) policy in
Australia. In addition to a description of policy you need to
provide your assessment of the effectiveness of the policy. The
effectiveness of macroeconomic policy will be determined by
how close the current figures are to policy targets. For example,
did Australia reach targets or not and/or how close has Australia
been to meeting targets? You NEED to give your (well thought
out) opinions about how well current macroeconomic policy is
working based on the data obtained. You need to support your
opinions with scholarly research to further
enhance/prove/justify/confirm your findings. This section is
worth 40%.
In your "Conclusion" you need to discuss what the future is for
the economy (the strengths and/or threats) as well as canvass
the policies you would recommend to ensure meeting the
economic targets. You should again call upon scholarly research
to further enhance/prove/justify/confirm your commentary in
this section. This section is worth 20%.

5. A reminder: To complete your assignment you need to ensure
you have used correct Harvard referencing throughout the report
and that you have correctly formatted your reference list. Only
include the references that you actually used in your report.
This section is worth 10%.
You should check your “turnitin” value before submitting your
assignment. A value of over 50 per cent should be of concern to
you.
There are a number of useful resources you can use to gather
information but make sure you are using reliable sources.
Useful sources of information might include the following web
sites:
· Australian Bureau of Statistics < http://www.abs.gov.au>
· The Reserve Bank of Australia <http://ww.rba.gov.au>
· Treasury <http://ww.treasury.gov.au>
· Department of Finance <http://ww.finance.gov.au>
· The Productivity Commission <http://www.pc.gov.au>
· The World Trade Organization <http://www.wto.org>
· ABC News <http://www.abc.net.au/news/>
Some newspaper sites may also be useful. For example, the
Australian Financial Review, the Sydney Morning Herald, the
Australian, the Guardian and other major newspapers. The
editions around the time of economic policy announcements are
especially useful.
You will also need to look closely at some recent budgets that
are usually brought down in May (details can be found at
http://www.budget.gov.au) and monetary policy announcements
about interest rates can be found at http://www.rba.gov.au. The
RBA's quarterly statement on monetary policy is also a very
useful source of information on the economy and its status. If
you find some good sources I suggest that you share them with
other students on the Discussion Board.