Consider the 1991 Australian recession and its impact on the wealth of households and businesses in Australia and incorporate each of the following elements into your essay:

• Using theAustralian Bureau of Statistics(Links to an external site.)
• data:
• Australian National Accounts: National Income, Expenditure and Product:Expenditure on Gross Domestic Product (GDP), Chain volume measuresgenerate one appropriate EXCEL chart illustrating the quarterlyseasonallyadjustednational growth rate, the percentage change in Household final consumption expenditure, the percentage change in General government final consumption expenditure, and the percentage change in Private gross fixed capital formation from Dec 1990 to Sept 1992
• Australian National Accounts: National Income, Expenditure and Product:Household Final Consumption Expenditure (HFCE)generate one appropriate EXCEL chart comparing the quarterlyseasonally adjustedpercentage change in final consumption expenditure with 4 other quarterly seasonally adjusted percentage change consumption categories (such as Food, etc) that clearly demonstrate the variability that can occur within the consumption category during recessions fromDec 1990 to Sept 1992.
• Undertake an overview of the conditions that prevailed at that time that led to this recession and how it impacted the nation (remember to use reputable sources in your research and reference), incorporating the information from the charts you generated. Include in your discussion any actions undertaken by the government to combat the recession and restore economic activity.
• Undertake a model analysis using the IS-LM model. Using the IS-LM model, illustrate and discuss the impact of the recession on interest rates and economic activity (and thus the unemployment rate). Remember to explain any changes you have made to the curves and/or any shift(s) you have undertaken.
• Based on the impact on interest rates and economic activity you have demonstrated in the IS-LM model, outline the policy advice you would have given to the government under these circumstances. Include in the discussion how the slopes of the curves may affect your policy advise and the long-run impact of this policy action.