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Find a variety of resources Snr Economics & Jnr Eco_Bus 


Economic literacy

For Year 7-10 Eco_Bus teachers (incl non-members)

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Who we are

We are a friendly organisation of dedicated and passionate teachers who specialise in teaching Senior Economics in Queensland, and Economics and Business in Years 7-10.

We are determined to break down myths: Economics is interesting, topical and logical. It is about how to understand front page news, and how to make more informed decisions when economic conditions are changing. This includes decisions about jobs and large purchases, to making production, investments and entrepreneurial decisions as individuals or as managers in future careers and businesses. Studying Economics gives students hope and optimism, as it involves problem solving current situations and issues for a better world!

QETA Inc. is a body of teachers and other educators throughout Queensland, Australia, committed to the promotion and advancement of Economics and Business Education in schools.

To achieve this goal, the association organises and resources a diversity of activities aimed at enhancing the professional qualities of teachers and the understanding of Economics among students.

QETA Inc. was established in 1968. It is a non-profit organisation.


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Practice Questions

At this stage of the year, perhaps some open-ended "which would be better" style questions would be more engaging than the generic revision exercises we normally come up with. Here are some ideas.

  1. Which would be a more effective way to reduce income inequality: a universal basic income or a progressive tax system?
  2. Which would be a more effective way to address climate change: a carbon tax or a cap-and-trade system?
  3. Which would be a more effective way to promote economic growth: a policy of free trade or a policy of protectionism?

Stage 3 Tax Cuts | ABC Q&A

Here's a great Q&A clip about the stage three tax cuts in Australia. The video discusses whether or not the tax cuts should go ahead, and if so, whether they should be delayed.

The speakers in the video are Chris Richardson, an economist, and Angus Taylor, the Minister for Finance. Richardson argues that the tax cuts should be delayed because they will be inflationary. Taylor argues that the tax cuts should go ahead because they will help to stimulate the economy.

A poll conducted by the show found that 61% of respondents believe that the tax cuts should not go ahead.

The video concludes with a discussion of the economic circumstances that would need to change in order for the government to change its position on the tax cuts.

RBA chief warns more rate rises possible, amid stubborn 'homegrown' inflation | ABC News

Reserve Bank Governor Michele Bullock has delivered a speech warning that 'persistent' domestic cost pressures could result in further interest rate rises.

A question that has come up in class a few times, from some very enthusiastic and creative thinkers has been along the lines of:

"Sir, could The RBA just tell everyone that they will drastically reduce the cash rate in 6 months time, to try to get everyone to save their money until then. Wouldn't this then bring inflation lower because consumption would surely drop. Could they try to manipulate and leverage the "expectations" aspect of the transmission mechanism."

Interesting question. 

Economic literacy and financial literacy

Defining what is meant by economic literacy is not straightforward and it has been the subject of debate over many decades. New research by the RBA and their Bulletin article explores the meaning of ‘economic literacy’.

Economic and financial literacy are clearly distinguished by the RBA research.   RBA Bulletin article RBA Bulletin article

This is important information required by teachers of the Australian Curriculum Economics and Business Years 5-10. The curriculum, both versions 8.4 and 9.0 refer to core ideas of economics and financial literacy, so it is critical that teachers appreciate the difference of economic and financial literacy for their teaching programs.

The recording is available to all members and non members of QETA.

      Recording Recording flyer flyer

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