Australia in 2003
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Case Details:
Case Code : ECOA111
Case Length : 11 Pages
Period : 2003
Organization : -
Pub Date : 2003
Teaching Note :Not Available
Countries : Australia
Industry : -
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Excerpts
Background Note
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The first westerners had arrived in Australia with Britain's Captain James Cook in 1770. Shortly thereafter the British established a penal colony at Port Jackson (now Sydney). Most of the early settlers were convicts and their keepers...
Economic Policies
For 70 years after becoming a nation in 1901, Australia's economic policies were quite successful. The country achieved one of the highest living standards, in the world. Australia became one of the earliest welfare states in the world, with free health care for all and generous pensions and welfare...
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Industry
With its heavy reliance on agriculture and mining, Australia had all the appearance of a resource based old economy. In 2000-01, manufacturing accounted for only about 11.5% of GDP . Mining was a very important industry as Australia was wealthy in mineral and natural resources including oil & gas, iron ore, gold and other minerals...
International Trade
Australian exports fell slightly in 2001, to $63.8bn (IMF, balance-of-payments basis). The decline in imports of goods, to $61.8bn, was even sharper, causing the trade account to swing from a deficit of $4.7bn in 2000 to a surplus of $2bn. As a result, the current-account deficit declined from $15.3bn to $9.5bn, or 2.7% of GDP...
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Social Policies
Australia was a large country but its population was only 19 million. A debate was on in the country whether the population needed to be increased. Environmentalists were opposed to the move as they felt the influx of people already had a negative impact on the flora and the fauna...
Future Outlook
A series of reforms over the past two decades, from financial deregulation and reduced import barriers to the overhaul of taxes and labor relations, had made the Australian economy much more competitive...
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Exhibits
Exhibit I: Australia: Economy Indicators
Exhibit II: Australia: International trade Profile
Exhibit III: Australia: Social and Health Characteristics (1998)
Exhibit IV: Dairy Industry in Australia
Exhibit V: Mining & Oil Exploration industry in Australia
Exhibit VI: Health & Ageing Policy in Australia
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