Obtain data on key macroeconomic indicators: real GDP, interest rates, unemployment rate, CPI and inflation rate, exchange rate, exports and imports.
Statistics (in tabular form) of real GDP growth rates, inflation rates, unemployment rates, exchange rates, real interest rates and the rate of change of net exports (NX) and briefly comment on each variable.
Produce pair-wise graphs of real GDP growth rates, inflation rates, unemployment rates, exchange rates, real interest rates and the rate of change of net exports (NX).
Critically analyse and discuss plausible economic explanations, including the role of government policy (fiscal or monetary), for the salient relationships between real GDP growth and other indicators.
Based on your summary statistics, graphs and analysis and discussion above, write a short prediction of the macroeconomic outlook of Australia. Is Australia likely to experience a recession or expansion soon?
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