Abstract

This case covers the various economic reforms undertaken by Australia in recent times, starting from the financial deregulation and reduced import barriers to the overhaul of taxes and labour relations. The case also describes the social policies adopted by the country in dealing with issues such as declining population, ageing and the aborigine community. Unlike many other countries, which have squandered away their natural resources and faded into economic oblivion, Australia has been making various efforts to encourage more value-adding industries and transform itself from an ‘old’ into a ‘new’ economy.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

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Keywords

Country case study of Australia, Largest country, Smallest population, Macroeconomics, Economic policies in Australia, Organisation for Economic Co-operation and Development, Aborigine community, Lucky country, Dairy products exporter, Mining industry in Australia, Asian currency crisis, John Howard, Social policies in Australia, International trade in Australia, Immigration