Message from Christine Dowd - QETA President

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Practice Questions

Macroeconomic Objectives
Australia's government aims to achieve several macroeconomic objectives. Discuss how a conflict might arise between the objectives of low inflation and low unemployment. Explain the policies a government might implement to mitigate this conflict.

Price Elasticity of Demand
A local cinema has decided to increase its ticket prices by 20%. Explain how the concept of price elasticity of demand would determine whether this decision increases or decreases the cinema's total revenue. Provide examples of factors that influence the price elasticity of demand for cinema tickets.

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Quarterly GDP, Trade Balance and Building Approvals | ABS

It's been a week or so of good updates from the ABS for those looking to unpack some of the latest economic indicators. The site's updated with key economic data, including December quarter economic growth figures, the latest balance of goods and services, and current building approvals. Dive into detailed national accounts and demographic shifts. As always, the ABS provides reliable, comprehensive statistics, keeping you up-to-date on Australia's economic landscape.

Pop quiz: Australia's current account balance:
A) has been in a surplus for 5 straight quarters
B) has been in a surplus for 2 straight quarters
C) has been in a deficit for 2 straight quarters
D) has been in a deficit for 7 straight quarters

Click here for the answer

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Australian Economics Olympiad 2025 | AEO

Exciting news for schools looking to challenge their most keen economists! The 2025 Australian Economics Olympiad (AEO) is now open for registrations.

Essentially, the AEO provides a stimulating series of activities designed to sharpen and evaluate high school students' economic understanding. It's about more than just textbook knowledge; it's about applying economic principles and reasoning to real-world scenarios in policy, business, and finance.

The grand prize for 2025 still being arranged, but is mostly likely to be the same as 2024. A fantastic trip to Sydney, featuring exclusive tours of, UNSW Business School, the Reserve Bank and NSW Treasury, culminating in a competitive showdown with students from Singapore, Malaysia, China, and New Zealand at the 2025 Australasian Economics Olympiad (AAEO). In 2025, Queensland had one representative on Team Australia, whom, along with 4 others from NSW, took home the Bronze medal!

It's important to understand that the AEO's academic level is quite advanced. Because it's a national competition, the content isn't tied to any specific state curriculum. This ensures a level playing field for all participants, meaning it goes beyond the confines of the Queensland, NSW, VCE, or any other state syllabus.

Here’s the breakdown of the competition:

• First Round (Saturday, 24 May, 11am-1pm): A comprehensive 2-hour exam covering multiple-choice, short-answer, and extended-response questions.
• Second Round (Top 40 Students): Selected students will participate in a team-based case study presentation, judged by a panel of industry experts and academics from the University of New South Wales.
• Final Round (Top 5 Students): The top five performers will form the "Australian Team," heading to Sydney for the prize tours and the Australasian competition against several other Australasian teams!

For a complete overview of the competition structure, including sample questions, visit the official website.