LOGIN   LOGIN
LATEST NEWS

What's happening

Find out the most recent news within the Economic and Business studies space.


RBA Summary of Current Economic Conditions - May 2022

https://youtu.be/udEAPxRMxoE

The RBA posted its latest "Summary of economic conditions" video just at the time I'm writing this! If you haven't seen these before, the RBA does a brilliant job of unpacking the latest economic data. It's a brilliant example of how to analyse and evaluate the latest figures -- crucial for all economic students. I often pause the video, just as a new graph is shown (but before they explain it) to challenge the students to conduct their own analysis first and see how well their insights match. 


Practice Questions

Unit 1:
Explain how the following would impact the market for electricity in Australia. Draw a supply and demand diagram to supplement your answer
a) Increased consumer rebate for solar panel installation for home owners. 
b) Severe flooding forces the closure of coal mines
c) The reintroduction of a carbon tax


Unit 4:
Draw a diagram of the economic cycle, highlighting a period of strong recovery and a diagram showing an inflationary gap. Annotate each diagram to show what would likely happen going forward, in the absence of demand-side economic management. 


Teacher Network Afternoon Meeting

IA3: Teaching, learning and assessment discussion. Dane, Deb and Justin, three experienced Economic teachers, will lead discussion of share experiences and different approaches.


Seeking Mentoring Applications

Seeking Economics Teacher Mentoring Applications
https://www.qeta.com.au/join-us/mentoring-program/

The mentoring program seeks to assist and support newly registered teachers, out of field teachers and teachers who are returning to teaching Economics in Queensland schools. The program connects these teachers to passionate and experienced Economic teachers who teach students across Years 7-12. 

If you're interested, please follow the links to the application process. 


Practice

Price Mechanism
Draw supply and demand diagrams to model the likely impacts of the following events:
A) RBA increases interest rates
B) The government increases subsidies to home builders
C) Analysts project significant increases in house prices next year
D) World price of steel increases

Macroeconomic Objectives
Draw a Phillips Curve and explain the potential tension which exists between unemployment and inflation


Practice

Unit 1:
Explain how the following budget measures may impact the equilibrium price and quantity for their respective markets:
a) Reducing the fuel excise tax in the market for petrol
b) Increasing subsidies to businesses for apprenticeships and the market for rooftop solar panels
c) Increasing subsidies for medicine in the market for medicine
d) Increasing financial support for first time home buyers and the housing market

Unit 4 Practice
Draw a mindmap showing the connections between the macroeconomic objectives and 20 specific items within the Federal Budget. For example "Subsidising medicine >>> Standard of living + Price Stability"


How the Economy of Japan Could Predict the Next Decade

https://youtu.be/rag4pHU7fcU

Economics Explained (Youtube) takes indepth looks at some of the most intriguing questions economists ask in very clear and simple to follow, albeit complex videos. This episode explores Japan's economic objectives, challenges and statistics while discussing quantitative easing, negative interest rates and long-term stagnation that many of us will be familiar with, yet find difficult to wrap our heads around. 


RBA March '22 Monetary Policy Decision

While there is definitely more pressing news stories at the moment, "When will the RBA increase the cash rate go up?" is one that has been kicking around a lot of our minds for a while. On Tuesday RBA Govenor Phillip Lowe announced that it is still a bit early to expect rates to increase. For classrooms, have a think about engaging the students with reading Lowe's statement, perhaps highlighting the indicators used and interrogating the the analyses provided. Year 12s may be easing into macroeconomic objectives so resources such as this could be a window into Unit 4 content and skills. Younger students may benefit from the head start and be interested to see their subject matter turning up in real life. 

RBA March 22 Statement on Monetary Policy: https://www.rba.gov.au/media-releases/2022/mr-22-05.html



The School of Life - Free Trade or Protectionism

What is the best way to make a country rich? Should you adopt a policy of free trade? Or is protectionism and economic nationalism the better way? We explore the history and theory of one of the central questions of economics and politics.

https://www.youtube.com/watch?v=5ITyd1Pzek0


The University of Queensland, School of Economics – Colin Clark Memorial Lecture

GDP-B: Accounting for the value of new and free goods in the digital economy

 

Digital media consumes a huge portion of our lives with the average Australian spending almost 40 hours per week online. That is roughly the same amount of time as a full-time job spent on smartphone apps, searching Google, scrolling social media, following maps, studying online, streaming music, videos and more. But these goods and services go largely uncounted in official measures of economic activity such as GDP and productivity.

 

In this webinar, Professor Erik Brynjolfsson, Stanford University, will explain how potential mismeasurement can arise from not fully accounting for such digital resources, while also putting forward a new metric labelled GDP-B, as it captures the benefits associated with new and free goods and is seen to go “beyond GDP”.

 

Date: Thursday 3 March 2022

Time: 12–1pm AEST

Virtual event: For more details and registration please click here:


Online Student Talks

The RBA will shortly commence our 2022 schedule of events with our Online Student Talks series.
There are two levels of presentation available:
Monetary Policy and Current Economic Conditions is aimed at Year 11-12 Economics students and covers the latest developments in the Australian economy.
Introduction to Economics is aimed at Year 9-10 Commerce/Economics/Business students and provides an overview of the economy, the role of the RBA and the benefits of studying economics.
Dates are available from 21-25 February and from 23-27 May.
All talks are free of charge and teachers can book on behalf of their classes through our Book a Talk page.


2022 BEAQ National Conference - Call For Speakers

The BEAQ is calling for expressions of interest to speak at the upcoming national BEA Conference, hosted by BEAQ. Speaker sessions will be held during the Friday and Saturday program on July 15 and 16 at the Brisbane Convention and Exhibition Centre.We are seeking sessions that focus on offering expertise, inspiration, resources and practical strategies for teachers to approach the delivery of business education subjects and courses.The theme for this year's conference is "Connected: Together is Better" and focuses on reuniting educators across the country to engage in proactive discussions emerging business concepts and changes to the curriculum, offering opportunities to share knowledge amongst peers to improve systems nationally.
Applications close Friday 11 March 2022
 with speakers to be notified by 14 April 2022. Email questions to Christina Hull; conference@beaq.org.au

Join Us

There are many advantages for teachers who are members.


get started get started

Stay up-to-date

Join our newsletter and receive all the latest updates from us.


subscribe subscribe

Do you have a question?

Write to us through the contact form.