Macroeconomic Policymaking for Small, Open Economies

An Australian Perspective
Friday May 31, 2013

This seminar explores a number of pressing macroeconomic issues, including federal budget, the national debt, and unemployment, from the perspective of the Australian economy.


Questions to be addressed include:

How much policy flexibility do small, open economies like Australia gain from having a sovereign currency, as compared to larger economies like the United States?

How can small economies with floating exchange rates respond to international currency volatility or investment shocks?

Is export-led growth an effective strategy for small, open economies like Australia? Why/why not?

How successful has Australia’s recent macroeconomic approach been for achieving full employment?

What can policymakers learn from the Australian response to the global financial crisis?



Participant Profile

Peter Kriesler

Associate Professor of Economics
Australian School of Business, University of New South Wales

Peter Kriesler, Ph.D., is Associate Professor of Economics in the Australian School of Business, University of New South Wales.

Participant Profile

Sean Carmody

Head of Credit Risk, Group Risk
Westpac Banking Corporation

Dr. Sean Carmody is Head of Credit Risk, Group Risk, at Westpac Banking Corporation. Prior to his current role, Sean was an independent consultant, including working with Westpac on redeveloping their operational risk capital model.

Participant Profile

William "Bill" Mitchell

Professor of Economics
Charles Darwin University

William (Bill) Mitchell, Ph.D. is Professor of Economics and Director of the Centre of Full Employment and Equity (CofFEE) at Charles Darwin University, Northern Territory, Australia. Prior to this position, he was Research Professor of Economics at the University of Newcastle for twenty-three years.

Participant Profile

Geoff Harcourt

Visiting Professorial Fellow in Economics
University of New South Wales

Geoff Harcourt is Visiting Professorial Fellow in Economics at the University of New South Wales, Emeritus Reader in the History of Economic Theory, and Emeritus Fellow, Jesus College, Cambridge University, and Professor Emeritus, Adelaide University.