Presented by:-

Group-4

Sec -c

The early European history of the Canadian economy is usually studied through the staples thesis which argues the Canadian economy developed through the exploitation of a series of staples that would be exported to Europe.

Capitalism, which would become the dominant philosophy for Canadian economic development, evolved from the economic activity of the colonial business elite.

The economy of the rest of the country improved dramatically after 1896, and from that year until 1914, Canada had the world's fastest growing economy.

Canada was hard hit by the Great Depression. When the American economy began to collapse in the late 1920s the close economic links and the central banking system meant that the malaise quickly spread across the border

What to Produce? Businesses decide and government approves/denies it

How to produce it? Businesses decide & government regulates procedures

For whom to produce? Businesses decide based on supply & demand (price)

Which economic system does Canada have?…

Canada has a Mixed economic system It’s actually pretty close to a Market economy; however,

there is some government regulation among industries It does have Free Enterprise…

Canada is economically strong!

The price of 1 country’s currency compared to another… 1 US dollar = .99 Canadian dollars 1 US dollar = .77 EU euros 1 Canadian dollar = .78 EU euros

What does this mean? The currencies of the US and Canada are very close

in value; however, the economy of the European Union is stronger than both since the euro is more valuable than both dollars!

What’s available? Iron ore, nickel, zinc, copper, gold, lead, molybdenum,

potash, diamonds, silver, fish, timber, wildlife, coal, petroleum, natural gas, hydroelectric power

What percentage of the land is arable (capable of being farmed)? 5% (only in Southern Canada; Northern Canada’s terrain

is permafrost!)

What are the major agricultural products? Wheat, barley, oilseed, tobacco, fruits, vegetables, dairy

products, forest products, fish

What’s being produced in the factories? Transportation equipment, chemicals, processed and

unprocessed minerals, food products, wood and paper products, fish products, petroleum, natural gas.

Canada is one of the global leaders of the entertainment software industry.

Chief exports: Motor vehicles & parts, industrial machinery,

aircrafts, telecommunications equipment, chemicals, plastics, fertilizers, wood pulp, timber, crude petroleum, natural gas, electricity, aluminum

Exports total (2011): $463.1 billion

Top exporting partners: US (73.7%), UK (4.2%)

Chief imports: Machinery & equipment, motor vehicles & parts,

crude oil, chemicals, electricity consumer goods

Imports total (2011): $460.7 billion

Top importing partners: US (49.5%), China (10.8%), Mexico (5.5%)

What percentage of people over the age of 15 can read and write? 99%

How long are students required to stay in school? 17 years

What percentage of people do not have jobs? 7.5%

What percentage of people live in poverty? 9.4%

$1.395 trillion (2011)

GDP Per Capita--What is the value of goods and services produced per person? $40,500 (2011)

Human Capital: Canada is investing in education & training (check out literacy rate!)

Capital Goods: Canada is investing in new technology & building new factories

Abundant Natural Resources

Entrepreneurship

Signed by the US, Canada, & Mexico in the mid-1990s

Eliminated trade barriers between the 3 countries

Free Trade between the 3 countries

How has it affected Canada’s economy? It eliminated trade barriers with US & Mexico, and

allows them to trade more freely at a better cost

Unemployment & poverty

Over depletion of natural resources

Acid rain from factories near Great Lakes region

Improving public services (which forces the country to raise taxes)

New Zealand has a market economy that depends greatly on international trade, mainly with Australia, the European Union, the United States, China, South Korea and Japan.

It has only small manufacturing and high-tech sectors, being strongly focused on tourism and primary industries such as agriculture.

Traditionally, New Zealand's economy was built on a narrow range of primary products, such as wool, meat and dairy products

Since 1984, the New Zealand government has undertaken major economic restructuring (known first as Rogernomics and then Ruthanasia), moving an agrarian economy dependent on concessionary British market access toward a more industrialised, free-market economy that can compete globally

Historically, New Zealand had a highly protected, regulated and subsidised economy.

Between 1984 and 1995, successive New Zealand governments enacted policies of economic deregulation informed by microeconomics. The policies aimed to liberalise the economy and were notable for their very comprehensive coverage and innovations.

Economic growth, which had slowed in 1997 and 1998 due to the negative effects of the Asian financial crisis and two successive years of drought, rebounded in 1999.

A low New Zealand dollar, favourable weather, and high commodity prices boosted exports, and the economy is estimated to have grown by 2.5% in 2000.

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There has been a large impact from the global recession on the economies of OECD nations. Real GDP fell in all 30 nations for at least one quarter and fell by around 5% in the OECD as a whole over the four quarters from June 2008.

The Government introduced retail and wholesale bank guarantees aimed at restoring confidence in the banking sector and providing banks with improved access to wholesale funding.

Main forecast

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Between 1985 and 2012, New Zealand's unemployment rate averaged 6.29%. After the stock market crash of 1989, unemployment began to rise reaching an all-time high of 11.20% in September 1991

By 2007, it had dropped again and the rate stood at 3.5% (December 2007), its lowest level since the current method of surveying began in 1986

From 2008, mainly as a result of the global financial crisis, unemployment numbers began to rise, with job losses especially high amongst women.[42] In the last quarter of 2012, the unemployment rate fell to 6.9% from a 13-year high.

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2003 2005 2007 2009 2011

New Zealand ran fiscal surpluses for about 15 years from 1994 to 2008. These surpluses strengthened the government balance sheet allowing net debt to fall from 1993, and net worth to rise through the period. This helped counter the growing private sector domestic and external indebtedness.

The government is spending more than it is receiving in revenue and net public debt is projected to rise from 14% of GDP in 2010 to around 28% by 2015 and then fall back to 10% in 2025.

Following the 1998 "Asian crisis" New Zealand’s Gross Domestic Product ("GDP") recovered strongly. Annual GDP growth from 2001 through to 2004 (on average) exceeded that of its major trading partners, partly as a result of strong net inward migration and associated population growth.

The recent global recession, and the associated financial crisis in many countries, had a significant adverse effect on global economic activity. Most of New Zealand’s trading partners experienced contractions in GDP between 2008 and 2009. Of the countries shown in the charts, Australia was the only economy not to experience negative GDP growth on an annual basis. The contractions experienced by the US, UK and Japan over this period were more severe than that experienced by New Zealand.

Since 2000, New Zealand CPI (’consumers price index’) inflation has averaged around 2.7%. This compares with averages of 2.4 % in the 1990s, and averages of over 11% for the previous two decades. Since September 2002, the inflation target has been to keep inflation within a range of 1-3 per cent on average over the medium-term.

Inflation increased significantly in the December quarter 2010 as an increase in the rate of goods and services tax (GST) from 12.5% to 15%

Inflation targeting is an economic policy in which a central bank estimates and makes public a projected, or "target", inflation rate and then attempts to steer actual inflation towards the target through the use of interest rate changes and other monetary tools.

New Zealand was the first country to implement inflation targeting formally starting in 1990 and it has been highly successful: this country, which was prone to high and volatile inflation before the inflation-targeting regime was adopted, has emerged from this experience as a low-inflation country with high rates of economic growth

However, the New Zealand experience indicates that strict adherence to a narrow inflation target range can lead to movements in policy instruments that may be greater than the central bank would like and can create unnecessary instances in which credibility can be damaged even when the underlying trend inflation is contained.

Major economic reforms starting in the 1980s First reform: Labor Party’s floating of AUD in 1983 Free-trade agreements and reduction of trade barriers Financial sector deregulation, including 1992 access for

foreign bank branches Rationalization and reduction of trade unions Restructuring of centralized system of industrial relations

and labor bargaining Better integration of individual state economies into federal

system Improvement and standardization of national infrastructure Privatization (e.g., Australian Wheat Board)

Current concerns Large current account deficit

Absence of export-oriented manufacturing industry

Real estate bubble

High levels of net foreign debt owed by the private sector

Pressure on environment

TRILLION %

AVERAGE HOUSEHOLD PROFILE: ECO -

FOOTPRINTFood

Goods and Services Household

Construction and Renovations Transport

Expressed in real terms (at 2004–05 prices), household final consumption expenditure per capita rose from $10,400 in 1960–61 to $26,100 in 2005–06. The magnitude of this real increase (152%) suggests that Australia enjoy a much higher standard of material wellbeing than they did in the early 1960s.

AUSTRALIA’S MAIN EXPORT INDUSTRIES

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Exports in Australia increased to 25381 Million AUD in December of 2012.

Metals like iron-ore and gold account for 28 percent of total exports, coal for 18 percent and oil and gas for 9 percent. Manufactured goods constitute 33 percent of the total exports with food and metal products and machinery and equipment accounting for the biggest share. Agricultural products, particularly wheat and wool make up 5 percent of trade outflows.

Exports in Australia increased to 25381 Million AUD in December of 2012.

Metals like iron-ore and gold account for 28 percent of total exports, coal for 18 percent and oil and gas for 9 percent. Manufactured goods constitute 33 percent of the total exports with food and metal products and machinery and equipment accounting for the biggest share. Agricultural products, particularly wheat and wool make up 5 percent of trade outflows.

MAIN EXPORT

MARKETS

Australia's largest export markets are China (27 percent of total exports), Japan (17 percent), South Korea (7 percent), India (6 percent) and the European Union countries.

Import products

MAIN IMPORT

MARKETS

Imports in Australia decreased to 25808 Million AUD in December of 2012.

Main import partners are China (15 percent of total imports), United States (13 percent of total imports), Japan (8 percent of total imports) and Singapore (7 percent of total imports).

Australia’s unemployment rate is around half that of the euro zone, and significantly less than the United States of America and United Kingdom

A decade ago, Australia’s most important trading partners were largely in the developed world, although much of our merchandise trade was already oriented towards Asia. Today, China, Japan, the Republic of Korea, India and our Association of Southeast Asian Nations neighbours absorb around three quarters of our merchandise exports and supply half our imports.

Australia's strong banking system had a major role to play in this nation's economic prosperity. It has proved to be a major factor that has helped Australia to counter problems raised by current global economic and financial crisis. Financial sector has been doing quite well given factors like high profitability, efficient management, and strong capitalization working in its favor.

Mining sector has played an important part in protecting Australia from effects of global economic crisis