The paper 'What Should the Australian Government Do to Encourage the Growth and Development of Economy" is a good example of macro and microeconomics assignment. The Australian economy is currently facing a number of challenges. The current trends in the global economy have been of various implications on the Australian economy. The main challenge facing the Australian economy is majorly attributed to the implicated speedy aging of Australians. Yet another main challenge that stands to greatly affect the economy of Australia is the impact of climate change and the emerging trends at which its arch-rivals China and India are plunging into a number of industries.
The government has the mandate to come up with policies that can help empower its economy. The impact to which climate change stands to affect the economy is enormously big. The government needs to identify measures that can help in implementing ideal recommendations with regard to climate change. The adoption of ideal information and technology systems alongside the provision of an ample environment for investment are among aspects that that government should uphold. This paper examines what the Australian government should do in an effort to boost the economy.
This is in line with various recommendations stated in various committees and by individuals. The role of the government in the digitalization of the economy There is a need for the economy to become flexible. This is an aspect that will, in the long run, make it productive and increase its potential to attain a very powerful growth margin that can effectively stand pressures of inflation. This point to the need for the government to focus on partnering with both the community and the industrial sector in addressing the emerging challenges that are facing the economy.
The major industries that need to be effectively harnessed by the government in an effort to sustain the economy include education, water transport and health alongside banking. An article by Kylie Papparlado on the government’ s future directives identifies the need for the government to foster the digitalization of its economy. According to Kylie, a digitalized economy is measured by a type of networking involving both the social and economic sectors. The adoption of ideal information and communication infrastructures is ideal for the reconstruction of any economy (Pappalardo 2009).
Kylie in his article further identifies that the government needs to identify that it’ s only the adoption of such infrastructure that will make it possible for the economy to stay ahead of the emerging trends of competition. With reference to the recommendations outlined by Kylie, the Australian government should thus play the lead role in enhancing and enabling the adoption of appropriate information and technology tools in an effort to digitalise the economy. The government needs to facilitate and at the same time foster the pace of innovation by identifying an ideal framework.
With the realization of the need to adopt efficient broadband to successfully fit into a world-class economy, the well being of the Australian people greatly lies with the adoption of broadband that can work at a national level (Pappalardo 2009). The government should thus uphold the responsibility of building a National Broadband Network. Such a move according to the article by Kylie Pappalardo will make it possible for the various service consumers to enjoy a variety of services.
To the many service providers in the booming service industry, the adoption of such an infrastructure will increase the number of applications and models to be adopted for effective service provision.
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