604 25 Unit 2, Topic 2

Using the Measuring What Matters framework from the ABS, evaluate the extent to which Australia has achieved improved living standards by selecting two of the five themes.

Unit 4, Topic 2

In September 2025, a major mining operation in Queensland announced plans to cut around 750 jobs. The company cited increased state mining royalties and weak global demand as reasons for the decision. The closure is expected to affect local employment, small businesses in the region, and state government revenue.
BHP alliance to sack 750 workers, blaming Qld government mining royalties - ABC News

Using the stimulus, explain how developments in the mining sector can affect aggregate demand in the Australian economy.]]> page https://www.qeta.com.au/news/practice-questions/practice-questions/ 2025-09-18 21:45:00 603 8 The power of consumer power
(Unit 1 and Unit 2)

Does supply determine demand, or does demand determine what is supplied, and how much?

Costs of Production: Kraft Heinz undoes blockbuster merger after a decade of changing tastes | AP News Sept. 2, 2025

When the company formed in 2015, it wanted to capitalize on its massive scale. But shifting tastes complicated those plans, with households seeking out healthier options. The economies of scale that Berkshire Hathaway and 3G Capital envisioned for Kraft Heinz never materialized. As the behemoth struggles to adapt to changing consumer tastes, the company has announced $300 million dollar plans to split. ]]> url https://apnews.com/article/kraft-heinz-oscar-mayer-lunchables-79a6fe0491da98bcda8c77a8227994c3?__s=e1by508dhkpq0wft1e4g 2025-09-18 21:45:00 602 3 8 October

The RBA is hosting a Zoom webinar to help Year 12 students prepare for exams across Australian states. The session is also a great opportunity for teachers to see strategies for developing economic communication skills and using economic terminology effectively. The webinar will be recorded for later access.

More details can be found on the RBA Education website.]]> url https://www.rba.gov.au/education/special-events-students/economic-update-webinar.html 2025-09-18 21:45:00 601 25 Explain how fiscal policy can be used to reduce cyclical unemployment during an economic downturn.

Unit 2
Explain how a subsidy on electric vehicles may improve market efficiency. In your response, refer to market failure, externalities, and the role of government intervention.]]> page https://www.qeta.com.au/news/practice-questions/practice-questions/ 2025-09-18 21:45:00 600 3 We are proud to present another full day of Professional Development to enrich your Economics teaching.

Face to face – University of Queensland
Online, for our regional and remote members
Economics Society of Australia Queensland / QETA scholarships available to cover flight costs for regional and remote teachers – email info@qeta.com.au for more details

Teachers will have an opportunity to:

Upskill and update their knowledge of teaching, learning and assessment
Participate actively by asking questions – coordinated online experience if you are regional
Increase communities of practice

]]> url https://www.qeta.com.au/event-rsvp/from-chaos-to-clarity-the-power-of-economics-education-conference-august-2025/ 2025-08-07 23:00:00 599 3 An excellent PD on of tariffs and trade policy: deepen your understanding for Unit 3 ESA QLD is partnering with Brisbane Dialogues to convene a discussion of tariffs and trade policy on Wednesday evening, 20 August 2025, at the Tivoli, Fortitude Valley. Former Queensland Attorney-General Walker will moderate the conversation, which will also include Dan Ryan, Founder, National Conservative Institute of Australia, general counsel/lawyer, board director and China expert. Cost is $70 which includes light food. You can find the details of the event and book tickets via the link]]> url https://events.humanitix.com/a-big-dialogue-tariffs 2025-08-07 23:00:00 598 25 Draw two models to show how an economy may move from optimal level of economic growth to "stagflation conditions". Explain a hypothetical event which may cause this to happen and one economic policy which could be implemented to address it.

Unit 2
Explain the concept of the "tragedy of the commons," using a real or hypothetical example, and propose a potential government policy which can be used to reduce its impacts. ]]> page https://www.qeta.com.au/news/practice-questions/practice-questions/ 2025-07-31 04:10:20 597 3 latest CPI figures came a bit lower than some expected and much closer to the bottom end of the RBA target rate.

From ABC:
Australian Bureau of Statistics data show consumer prices rose 0.7 per cent over the June quarter and 2.1 over the past year. The Reserve Bank's preferred "trimmed mean" measure came in at 0.6 per cent for the quarter and 2.7 per cent for the year. The bank was expecting an annual reading of around 2.6 per cent, with the result roughly in line increasing the chances of an interest rate cut when the RBA board next meets on August 12.]]> url https://youtu.be/lp0tR3VznH0?si=gUDS2lLCEHpGFGNh 2025-07-31 04:05:11 596 3
When: Wednesday 20 August 2025
Time: From 12.00pm until 1.00pm AEST (Time Converter)
Where: Online via Zoom
Cost: Free of Charge - register below

From ESA:

Rapid changes in technology and in the preferences of firms and households are features of the Australian economy, nowhere else more so than in the payments system. How are central banks, including the RBA, thinking about the future of money, both digital and physical cash? What could be the role of central bank digital currencies, stablecoins and tokenised bank deposits in supporting innovation, and what are the financial stability risks? And how could the demand for physical cash evolve in the future?

You are invited to join us for this webinar during which we are fortunate to have Assistant Governor Brad Jones (Financial System) and Assistant Governor Michelle McPhee (Business Services) from the Reserve Bank of Australia discuss these issues with Professor Richard Holden (UNSW).

]]> url https://esacentral.org.au/event/64140/the-future-of-money-online-only 2025-07-30 14:00:00 595 25 1. Explain the concept of leading, lagging and coincident indicators providing two examples of each.

Unit 2
1. Explain the concepts of negative and positive externalities using casino games (negative) and youth sports (positive) as examples. Draw a price mechanism model for each showing these externalities.

]]> none 2025-07-24 04:31:51 594 8 Here's a quick video, and below is the report. ]]> url https://www.ceda.com.au/researchandpolicies/research/workforce-skills/size-matters-why-construction-productivity-is-so-weak 2025-07-24 04:26:05 593 8
In any the ABS revamped their website over the last year, making it quite easy to track and flag upcoming data releases. For how this relates to pedagogy, if your students have a tendency to look up articles first, which means they often parrot other peoples analysis rather than conduct their own, then jumping on the data as soon as it is released may help. Sometimes key indicators are released during class, which means we can try to write our analysis before the media pushes it out. ]]> url https://www.abs.gov.au/release-calendar/future-releases 2025-07-24 04:12:29 592 25 1. Explain the impact of historically high wage growth in relation to business productivity and cost-push inflation.
2. Would a reduction in income taxes be considered a macroeconomic or microeconomic policy? Make the case for both.

Unit 2
Explain how a widening gap in income inequality may weaken the effectiveness of expansionary fiscal or monetary policy regarding stimulating economic growth.]]> none 2025-07-17 04:01:01 591 3 We are proud to present another full day of Professional Development to enrich your Economics teaching.

Face to face – University of Queensland
Online, for our regional and remote members
Economics Society of Australia Queensland / QETA scholarships available to cover flight costs for regional and remote teachers – email info@qeta.com.au for more details

Teachers will have an opportunity to:

Upskill and update their knowledge of teaching, learning and assessment
Participate actively by asking questions – coordinated online experience if you are regional
Increase communities of practice

]]> url https://www.qeta.com.au/event-rsvp/from-chaos-to-clarity-the-power-of-economics-education-conference-august-2025/ 2025-07-17 03:57:46 590 3 Week commencing 21 July, we will kick-off our first online communities of practice event. This has attracted great interest due to the pending endorsement deadline for IA1 and IA2. If you are interested in attending this session and haven’t previously registered interest in our community of practice, please get in touch at info@qeta.com.au. In-person events also kick-off soon!

23 July - Bridging the gap between Years 8-9 and senior pathways in Economics, register here T'Chat - EcoBus intro Year 8-9 23 July ]]> url https://www.qeta.com.au/event-rsvp/tchat-ecobus-intro-year-8-9-23-july/ 2025-07-17 03:55:52 589 3
Over 2,500 students from across QLD have signed up to compete in this year’s Economics competition. It is bigger than ever! Have you registered your school? For those already registered – you will receive more details this week to register individual students, with details on the Digiexam platform. This year, teachers invigilate online. If you haven’t registered – get in quick! QETA - UQ Student Economics Competition

]]> url https://www.qeta.com.au/events/uq-qeta-economics-competition/ 2025-07-17 03:54:54 588 8 The ABS has just released new labour market data showing that the unemployment rate has risen from 4.1% to 4.3% (seasonally adjusted). The ABC here examines key drivers, including global supply surprises and domestic wage growth, and evaluates the Reserve Bank’s policy responses. Market forecasts, business sentiment, and household impacts are also discussed, so there's a tonne for classrooms to unpack much of the economic cycle, monetary policy and the circular flow of income. ]]> url https://youtu.be/8csW2vxqaTM?si=guX2BaVdisJbW_05 2025-07-17 03:53:36 587 25 1. Explain how the Australian government might use fiscal policy to respond to a recession. In your answer, discuss the potential benefits and risks of increasing government spending during economic downturns.
2. Describe how the Reserve Bank of Australia (RBA) uses monetary policy to control inflation. Evaluate why lowering interest rates might help the economy but could also have some negative effects.

Inequality
1. Explain the difference between income inequality and wealth inequality. Discuss one way the Australian government might try to reduce these inequalities and why it could be effective or not.]]> page https://www.qeta.com.au/news/practice-questions/practice-questions/ 2025-06-18 00:52:24 586 8
It's not entirely new actually, but APH's KESI has received a pretty significant renovation. The Key Economic & Social Indicators (KESI) dashboard from the Australian Parliamentary Library offers an interactive snapshot of Australia’s latest economic and social data—covering areas like employment, GDP, household and foreign debt, wages, prices, and business conditions. The updated design makes it incredibly easy to scale to specific timelines, something that shoul dbe super handy when trying to format stimulus. This tool is invaluable: it presents real-world statistics in a clear, accessible format, allows users to download data files, and supports deeper analysis of trends affecting Australian society.]]> url https://www.aph.gov.au/About_Parliament/Parliamentary_departments/Parliamentary_Library/Statistics_and_Maps/Dashboards 2025-06-18 00:48:51 585 8 Watch the full story to see what’s at stake. Students may find this interesting as it shows how global events can directly impact Australia’s economy and living standards. It also links to key topics in our syllabus like trade, government revenue, and structural change.]]> url https://youtu.be/caFqBKsw3ag?si=hX7FHmquJ-LFW-Vs 2025-06-18 00:37:35 584 8 url https://youtu.be/SYXuwTk_q8A?si=2xk7NRmxmVnyKPr_ 2025-06-18 00:27:14 583 3
Tax time tips for your industry

Need help with deductions? The ATO has tailored occupation guides showing:
• what you can claim
• income you must declare
• records you need to keep.
Visit www.ato.gov.au/teacher

Keep good records

To claim work-related expenses, you must:
• pay for it yourself (not reimbursed)
• ensure it relates to earning your income
• keep records, like receipts with full details.
Use the myDeductions tool in the ATO app. More at ato.gov.au/keepingrecords

Claiming donations

You can claim donations if they are:
• to a Deductible Gift Recipient (DGR)
• true gifts (no benefit in return)
• supported by records like receipts.
Check conditions at ato.gov.au/giftsdonations

Stay safe from scams

ATO scams peak at tax time. Protect yourself by:
• using the ATO app and my.gov.au
• never clicking suspicious links
• setting myID to the highest strength.
Remember: Stop. Check. Protect. More at ato.gov.au/scams ]]> url https://www.ato.gov.au/individuals-and-families/income-deductions-offsets-and-records/guides-for-occupations-and-industries/r-z/teachers-and-education-professionals-income-and-work-related-deductions 2025-06-18 00:10:30 582 25 1. Draw and explain a LRAS/AD model, and a Long-run Phillips Curve model, to show the concept of "stagflation".
2. Suggest and explain 3 economic indicators, that are not GDP, unemployment or CPI, and how they may be trending, to allow us to infer that stagflation may be occuring.

Unit 2
1. Explain the concept of "the tragedy of the commons" using an example that is not over-fishing or over-hunting.
2. Identify and explain two negative impacts of historically increasing wealth inequality.
]]> page https://www.qeta.com.au/news/practice-questions/practice-questions/ 2025-06-12 01:50:36 581 8
TLDR News (British News/Commentary YouTube Channel) discusses the challenges facing the Australian economy, which, despite a long period of significant growth, is now showing signs of strain. While the overall Gross Domestic Product (GDP) appears to be increasing, this is largely attributed to factors like immigration and government spending. A more concerning trend highlighted is the decline in GDP per capita and disposable incomes. This has even led to concerns from credit rating agencies regarding Australia's fiscal responsibility.

They do a great job of explaining several key factors contributing to this economic slowdown. Things like declining productivity, a severe housing crisis impacting affordability and living standards, and the potential impact of shifts in the global economy, particularly with major trading partners. These combined factors, along with slower export growth and a reliance on temporary revenue sources, paint a challenging picture for Australia's future economic prospects.

There's a lot of analysis and evaluation as we know it. We even started interrogating some of the sources for validity to form "counter points" which we tend to think of as "critical economic reasoning". For example, students can discuss whether Australia is as labour-intensive as the other countries, and how that factors into labour productivity. One table suggested that maybe since Australia's industry is so service-based, that perhaps "labour productivity" may be lower than other economies that have more capital-intensive industries. In other words, the question was raised -- surely a factory with mostly robots making widgets with a small number of human workers is more "productive" than health clinics, schools and law firms, if you measure productivity by output produced by hour of human labour.

Fascinating stuff, and how great is it that a room full of teenagers are smart enough to shake their heads at the sight of some line graphs.

]]> url https://youtu.be/QgR2nxrfKVI?si=9ApGEhqUPR_1Qj15 2025-06-12 01:44:33 580 3 Econometrica, will delve into price discovery in auctions, a crucial concept in economics. He will explain how auctions aggregate dispersed information to reveal true values, using diverse examples. The seminar will cover the "winner's curse" and its pricing biases, then introduce the innovative "market order mechanism" for more reliable information discovery. This is an excellent opportunity to gain insights into mechanism design and market microstructure from a leading expert, enriching classroom discussions on auction theory and market dynamics.

Date: Tuesday 17 June 2025

Time: 6pm and runs until approximately 7pm AEST (SYD/CBR/MEL)

Cost: Free of charge
]]> url https://esacentral.org.au/event/63659/price-discovery-in-auctions-how-different-types-of-auctions-aggregate-dispersed-information-online-only 2025-06-12 01:25:31