Our Economy- Reflection

Total Mark: 29/30

This assessment task was to research the economy of Australia and one other economy of my choice- this country in question was Hong Kong. The assessment task consisted of a report describing the economy in both Australia and Hong Kong with a comparison of the two economies and describing the differences.

I learnt from the assessment task about Hong Kong's economy- that they were one of the last Laissez-faire economies in the world (with no government intervention) and how they suffered and recovered from the Global Financial Crisis. I found out that their GDP also fell after their split from the United Kingdom in 1997 as well as the GFC. Their GDP fell more than Australia's but ended up recovering better than the Australian economy, indicating that they are able to bounce back from economic struggles.
I also learnt that the split from the United Kingdom made inflation rates go backwards in the 1997-1998 year and the changes in the CPI have been more unstable than Australia's as they have not had an inflation target as Australia has.

I generally did all parts of the assignment well as shown by the 29/30 mark, however I struggled to find relevant graphs to back up my written work, as shown by my Australian GDP Growth Rate graph because I was only able to find a graph for 14 years instead for 20 years.

I can elaborate more in the aspects of Hong Kong's economy but however I wasn't able to find too much information apart from Wikipedia- with the exception of the CIA World Factbook.

This assessment task was generally well written but the word count was fairly difficult to adhere to.