The Effect Of Government Consumption On The Average Growth...

Econometrics Empirical Project†¨ THE EFFECT OF GOVERNMENT CONSUMPTION ON THE AVERAGE GROWTH OF REAL GDP PER CAPITA _____________________________________________________________ Heidi Zhuge Content Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 Literature Review†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 Data†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6 Sources†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 Transformation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.6 Description†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 Regression Models†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 Model 1†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..12 Model 2†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦13 Model 3†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦14 Model 4†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦15 Model 5†¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚ ¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16 Results†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.18 Assumptions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..18 Summary Table ..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦18 Interpretation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..20 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..21 Introduction GDP is an important measure that indicates an economy’s performance and affects employment, inflation and foreign trade among others. Extensive research has been done on the factors that impact real GDP growth, but many different models exist and there is no consensus that is universally accepted. One important influence is government expenditure but economic theory does not clearly state the relationship between government spending and GDP growth. Free market supporters believe that government expenditure will lower real GDP per capita since they expect that government expenditure inShow MoreRelatedEvaluating Flat Taxes : Considerations For Tax Reform Essay1281 Words   |  6 PagesEvaluating Flat Taxes: Considerations for Tax Reform Taxes are a necessary component for operating a government, however, they are also the source of great debate within our society. Especially when considering what types of taxes to use, and how much to tax the population without negatively impacting the economy. 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Architecture Of The Security System - 1206 Words

Chapter Three Architecture of the security System 3.1 Introduction This chapter is dedicated to present the design considerations and the main implementation steps to establish Zero-Knowledge protocol model, the established proto-type is a web-based application, represented as a web-site. The major requirements (CIA) confidentiality, integrity, and authenticity are covered by the security system. 3.2 Architecture of the security system In order to get a system is characterized by durability, flexibility and resistant any potential change, the security system is designed and consists of three layers: the user interface layer, the application logic layer and the database layer. All these layers in the security system the main goal is to make applications evolve and implementation easy and efficient. The first layer(interface layer) offers to the user a friendly and convenient entry to contact with the system.The second layer (application logic layer) implements the controlling functionalities and manipulating the underlying logic connection of information flows; finally the data modeling job is conducted by the database layer, which can store, index, manage and model information needed for this application [41]. 3.2.1 Client Layer: The users (applicants) can access the data on the server through any web-browser (like Google Chrome or Netscape). To build this system a number of sub-programs were built using some programming languages. The main program wasShow MoreRelatedArchitecture Of The Security System1589 Words   |  7 PagesChapter Three Architecture of the security System 3.1 Introduction This chapter is dedicated to present the design considerations and the main implementation steps to establish Zero-Knowledge protocol model, the established proto-type is a web-based application, represented as a web-site. The major requirements (CIA) confidentiality, integrity, and authenticity are covered by the security system. 3.2 Architecture of the security system In order to get a system is characterized by durability, flexibilityRead MoreArchitecture Of The Security System1206 Words   |  5 PagesChapter Three Architecture of the security System 3.1 Introduction This chapter is dedicated to present the design considerations and the main implementation steps to establish Zero-Knowledge protocol model, the established proto-type is a web-based application, represented as a web-site. 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TechnicalRead MoreVirtualization Project Report1624 Words   |  7 PagesVirtualization Security in Data Centers and Clouds Minjie Zheng, mzheng@go.wustl.edu (A project report written under the guidance of Prof. Raj Jain) DownloadPDF Abstract In the past decade, with the unprecedented growth in tech companies and advances in cloud computing, it has become increasingly common for companies to incorporate virtualization in their data centers to fully utilize their hardware resources. As a result, virtualization and virtualization security have gone through major transforms Architecture Of The Security System - 1206 Words Chapter Three Architecture of the security System 3.1 Introduction This chapter is dedicated to present the design considerations and the main implementation steps to establish Zero-Knowledge protocol model, the established proto-type is a web-based application, represented as a web-site. The major requirements (CIA) confidentiality, integrity, and authenticity are covered by the security system. 3.2 Architecture of the security system In order to get a system is characterized by durability, flexibility and resistant any potential change, the security system is designed and consists of three layers: the user interface layer, the application logic layer and the database layer. All these layers in the security system the main goal is to make applications evolve and implementation easy and efficient. The first layer(interface layer) offers to the user a friendly and convenient entry to contact with the system.The second layer (application logic layer) implements the controlling functionalities and manipulating the underlying logic connection of information flows; finally the data modeling job is conducted by the database layer, which can store, index, manage and model information needed for this application [41]. 3.2.1 Client Layer: The users (applicants) can access the data on the server through any web-browser (like Google Chrome or Netscape). To build this system a number of sub-programs were built using some programming languages. The main program wasShow MoreRelatedArchitecture Of The Security System1589 Words   |  7 PagesChapter Three Architecture of the security System 3.1 Introduction This chapter is dedicated to present the design considerations and the main implementation steps to establish Zero-Knowledge protocol model, the established proto-type is a web-based application, represented as a web-site. The major requirements (CIA) confidentiality, integrity, and authenticity are covered by the security system. 3.2 Architecture of the security system In order to get a system is characterized by durability, flexibilityRead MoreArchitecture Of The Security System1206 Words   |  5 PagesChapter Three Architecture of the security System 3.1 Introduction This chapter is dedicated to present the design considerations and the main implementation steps to establish Zero-Knowledge protocol model, the established proto-type is a web-based application, represented as a web-site. 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X.805 architecture incorporates three security layers which areRead MoreThe Health Information Portability And Accountability Act Of 1996943 Words   |  4 PagesHealth Insurance Reform: Security Standards of 2003, part of the overall Security Rule contained in the Health Information Portability and Accountability Act of 1996. Although the federal rules detail the need for the protection of health information, Professor Fue and Professor Blum in 2013 extended the need to ensure that security is built into other systems that affect individual’s health (Fue Blum, 2013). Although there is no explicit requirement for architecture called out in Fue Blum’sRead MoreQuestions On Database Security And Database Systems1368 Words   |  6 PagesDATABASE SECURITY Submitted to the Faculty of American Public University By Loren Robert Hensley In Partial Fulfillment of the Requirements for the Course of INFO620 Enterprise Database Systems November 2014 American Public University Charles Town, WV â€Æ' Abstract This paper explores the different aspects of security as it pertains to database systems. It will provide an overview of security concerns such as access control, user authentication, reliability and data integrity, as well as how IT professionalsRead MoreArchitecture of a New Payroll Program1137 Words   |  5 Pages Application Architecture Introduction Fundamental objective of this paper is to build a payroll program for a large organization having offices spread across the United States. To enhance effective business operations, the company uses the WAN (wide area network) technology to connect all its offices located in the United States. The paper discusses the architecture of new payroll program to enhance greater understanding on the functionality of the new system. Architecture of the new PayrollRead MoreEvaluation Of A Access Control Policy855 Words   |  4 Pagesrecording on all of the clients activity and behaviour. 3.6 CBA SECURITY INFRASTRUCTURE I would like to describe the list of all kind of security that CBA implement: †¢ Security app services bank o Encryption – transport layer o Application whitelist blacklist o URL authorization o Automatic Website isolation o Digital certificate code signing o Remote access †¢ Security data service o Encryption all of the data within the company †¢ Security server o Malware protection disk protection o Networking ipV6Read MoreBsa 375 Week 3 Individual Assignment848 Words   |  4 Pages Belinda Moses How do you define application architecture and process design? Wise Geek defines application architecture as â€Å"the organizational design of an entire software application, including all sub-components and external applications interchanges. There are several design patterns that are used to define an application architecture† (wiseGEEK, 2013). The design patterns are created to meet the objectives described in the system requirements. â€Å"The activity of determining the workflowRead MoreCIS515 - Module05 Essay examples704 Words   |  3 Pages1. Describe technical architecture as a structured process and compare it to software architecture. How are the two related? In what ways does it allow us to design better systems? Technical Architecture A technical architecture is the design and documentation of a software application. Technical architecture gives the overall picture of the application. Usually enterprise architect who understand the business and fluent in technology provide the important bridge between MIS and business. TechnicalRead MoreVirtualization Project Report1624 Words   |  7 PagesVirtualization Security in Data Centers and Clouds Minjie Zheng, mzheng@go.wustl.edu (A project report written under the guidance of Prof. Raj Jain) DownloadPDF Abstract In the past decade, with the unprecedented growth in tech companies and advances in cloud computing, it has become increasingly common for companies to incorporate virtualization in their data centers to fully utilize their hardware resources. As a result, virtualization and virtualization security have gone through major transforms

Effect of Mining Boom Economy System †Free Samples to Students

Question: Discuss about the Effect of Mining Boom Economy. Answer: Introduction: Mining has been essential to the Australian economy in bursts since the mid 19th century. In the 1850s there was a great boom induced by finding Gold and Copper in Queensland and Victoria and also South Australia. In the 1970s there was soaring prices of cal gas and iron that brought the current account of the economy into surplus which is not something that has happened since ("Australia' boom-bust history", 2013). Then there is the current boom which has driven up the prices of coal, iron ore, uranium and gas Management. This boom has been known to originate from the iron ore mines of Pilbara or from the coal fields of the Bowen basin (Philips, 2016). This rise in the prices have totally transformed Australian society beyond anything ever before and has raised the standard of living of the general population. It has in particular been of huge help to the communities of Western Australia and has helped them come to their own (Sharma, 2010). This is one of the most important events in the economy for many years. It is one of the biggest shocks that have come to the Australian economy in decades and it is a very positive shock that has helped improve the standard of living of the general population beyond what could have been ever been possible without this boom. A good way to thus measure what is the positive effect of this boom would have been to compare what would have been the situation if the boom had not happened to what has happened now that this boom is there. This is the way of considering a counterfactual and would provide good way to gauge the effects. Firstly it is to be noted that GDP has risen by 6 per cent due to this boom. Then that the price of global exports has also more than triples from what they were in 2003 at the start of this boom. It now accounts for 8 per cent of the GDP of the country where it before used to account for only 2 per cent. There has been a remarkable rise in the disposable income of the households which is 13 per cent higher due to this boom than it would have been without (Downes, Hanslow and Tulip, 2014). There is two ways this boom has affected the economy especially with the exports. There is an in the purchasing power of the people due to the positive externality of this boom as well as there is an increase in the volume of output that has been produced. The greater price of the produced output means that there are higher terms of trade and this in turn helps to boost the domestic economys purchasing power (Brueckner, Durey, Mayes, Pforr, 2013). The Australian dollar also appreciated due to this boom. The real exchange rate is thought to have been 44 percent higher than what it would have been without the boom. This boom was also able to bring down the unemployment in certain sectors with now mining involving more people and thus driving down the rates of the unemployment in the country which has been reduced by about 1.25 percent due this. There was a lso a tendency to control the nominal interest rates so as to control the money supply of the economy during these times. Due to this boom also saw an increase in the volume of trade in the economy mainly from the demand originated in China. This increase in the spending variables helps to increase the capital stock of the country and thus help in the growth of the economy (Jones and Vollarath, 2013). Australia did grow in huge rates at the start of the boom. The most appropriate model to explain this would thus be the Aggregate supply aggregate demand model as this would be able to perfectly encapsulate the effect of this unprecedented shock on the economy. As shown in the figure below it can be seen that point at which the initial equilibrium was situated was E. This is where the initial AD curve and the AS 1 curve would intersect. The GDP level was Y and the price level as P. However, with the positive shock the output level increased to Y*. To adjust accordingly and as there is a supply shock the AS curve would shift to AS2 and the equilibrium is now at E* with price level P*. The entire phenomenon is represented. At the start of the period the monetary policy Management basically consisted of the cash rate being the instrument through which the Reserve Bank of Australia which had by then started taking decisions separate to the government controlled the money supply of the economy. They also had policies of medium target inflation. They began controlling the short term nominal loan rates so as to follow a tight monetary policy so as to control the inflation in the economy. With a decrease in money supply the AD curve as shown in figure 1 moves inwards and the level of Y that it now has becomes less than the full employment level so the price level also drops below the expected price level. This makes the AS curve shift till it comes to an equilibrium at the point E1 with the same Y* but the price level decreased. This is shown. With the increased reserves brought about by the increase in the income due to the boom the Australian got into the programme of slashing the income taxes and was also giving a lot of transfer payment to the households. This causes the aggregate demand curve to shift outwards and then the AS curve shifts to adjust and there is a new equilibrium at E2 as seen in the figure 3. The level of output remains the same but there is an increase in the price level. Structural deficit is something that has been always present in the government due to imbalances in the reserves and surplus. Cyclical deficit occurs due to the business cycles and the recovery that the Australian reserves had due to the mining boom was in a large way the cyclical reserve. The government went into surplus and has maintained that for some years before the Global financial Crisis in 2007-2008. It was also able to clear its debt which is unlike other advanced countries which are often heavily leveraged, government expenditures and the revenues collected. From figure 4 it becomes clear that the increase in the reserves of the country was so the budget line shifts outward. Conclusion: The Australian mining boom has been a boon for the country no doubt. However a lot of doubters Management remain about if the bon has been put to its best possible use. A lot of detractors of the government comment that the increased welfare spending was the government basically sundering the reserves instead of building up its stocks. It is also to be noted that there has recently been a downturn and the growth numbers of Western Australia (Haeney, 2016). It would now be a very good time for the government to try and re-boost the economy through attracting Foreign Direct investment and other types of public investment which is sorely lacking in Australia. It is good news that this sector saw a further boom in 2017 and will hopefully be able to sustain it. References: Australia' boom-bust history. (2013).NewsComAu. Retrieved 4 May 2017, from https://www.news.com.au/national/australias-history-of-mining-boom-and-bust/news-story/6c7ac1c0c58df6a0b7ee2ccef019827a Brueckner, M., Durey, A., Mayes, R., Pforr, C. (2013). The mining boom and Western Australias changing landscape: Towards sustainability or business as usual?.Rural Society,22(2), 111-124. https://dx.doi.org/10.5172/rsj.2013.22.2.111 Downes, P., Hanslow, K., Tulip, P. (2014). The Effect of the Mining Boom on the Australian Economy.SSRN Electronic Journal. https://dx.doi.org/10.2139/ssrn.2701080 Haeney, R. (2016).How Western Australia is handling the end of the mining boom.The Conversation. Retrieved 3 May 2017, from https://theconversation.com/how-western-australia-is-handling-the-end-of-the-mining-boom-69217 Hajkowicz, S., Heyenga, S., Moffat, K. (2011). The relationship between mining and socio-economic well being in Australias regions.Resources Policy,36(1), 30-38. https://dx.doi.org/10.1016/j.resourpol.2010.08.007 Jones, C., Vollrath, D. (2013).Introduction to economic growth(1st ed.). New York: W. W. Norton. Perry, M., Rowe, J. (2015). Fly-in, fly-out, drive-in, drive-out: The Australian mining boom Management and its impacts on the local economy.Local Economy,30(1), 139-148. https://dx.doi.org/10.1177/0269094214564957 Philips, K. (2016).The mining boom that changed Australia.Radio National. Retrieved 3 May 2017, from https://www.abc.net.au/radionational/programs/rearvision/the-mining-boom-that-changed-australia/7319586 Sharma, S. (2010). The impact of mining on women: lessons from the coal mining Bowen Basin of Queensland, Australia.Impact Assessment And Project Appraisal,28(3), 201-215. https://dx.doi.org/10.3152/146155110x12772982841041