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Alireza Aslani, Mohsen Rezaee and Seyed Mostafa Mortazavi

Abstract

Energy has a strategic role in social and economic development of the countries. Due to the high dependency of energy supply to fossil fuels, fluctuations in prices and supply have macro/micro-economics effects for both energy exporters and importers. Therefore, understanding economic stability based on energy market changes is an important subject for policy makers and researchers. As the competitiveness of Australia products/services has high dependency on energy prices, analyzing the relationships of economics robustness with fossil fuel fluctuations is important for the policy makers and researchers. In this paper, the researchers investigate the effects of energy changes on Australian economics. In this regard, first, the impact of oil price on macro-economic parameters is discussed. After that, the main issues related to energy economics including resilience of the energy sector, energy policies, economics analysis of the energy sector, electricity markets are discussed.