Describe and analyse the industrys relationship with Governments.

Task description Select an industries
You are required to investigate the industry to some depth, using your understanding of business economics, and to:
a. Estimate the industrys contribution to Australias annual GDP. What proportion of GDP does this represent? Explain.
b. Describe and analyse the industrys relationship with Governments.
c. Select three (3) of the following six (6) scenarios. Using macroeconomic theories, determine and describe what you predict may happen in your selected industry if:
i. Australias rate of unemployment increases to 10%;
ii. Australias inflation rate increases to 6%;
iii. The Australian Government decreases the corporate taxation rate to 20%;
iv. The Reserve Bank of Australia increases the cash rate to 5%;
v. The value of the Australian Dollar (AUD) decreases by 10% against other key currencies;
vi. China reduces imports by 10%;
Write a conclusion which includes the insights which you have gained from this assessment task.
Assessment Submission Requirements:
1. Your assessment is to be written as a business report.
2. Include a minimum of 3 suitable academic journal articles in your assignment. You can search the AIM Library database, or use some of the ones provided in the Additional resources section under each topic in my ABS. You also will need to also have to research other online industry related articles to support your research.
3. Your report must be 3000 words (+/- 10%). Note: the title page, contents page, executive summary, tables, reference list and appendices are not included in the word count.
4. Appendices and tables may be used to clarify and support your arguments but should not be used to circumvent the word count limit. Use appendices, please use these sparingly. Submit to the Assessment section of myABS as one document.
5. Submit only a word document (i.e. .doc or .docx).

The industry I choose is the construction industry – Commercial/ industrial
Have to talk about this particular sector of the construction industry – eg not domestic not heavy civil
Will need to work out the GDP on the commercial industrial sector
Attached – IBIS Report
Suggested Websites to reference from – https://tradingeconomics.com/australia/productivity
https://www.abs.gov.au/

Thoughts:
The unions have quite a bit of power in the construction industry – What are the effects of unions on the economic performance of the Australian building and construction industry? How does this affect the industries relationship with the government?

Will need:
Executive Summary
Introduction
Headings for each question asked to cover the report
Conclusion
A Copy of all the reports used in the reference
Text book used – Business Economics – N Gregory Mankiw, Mark P Taylor, Andrew Ashwin – Third edition

The three scenarios chosen are the highlighted