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Market Structures and Microeconomic Reform
1. Compare and contrast the incentives for innovation in perfect competition versus monopolistic competition. Justify why one might foster
more innovation than the other
2. Oligopolies can lead to either "intense competition or cooperation." Discuss the potential benefits and drawbacks for consumers
when oligopolistic firms choose to cooperate (e.g., collusion) rather than compete fiercely.
In this speech to the Economic Society of Australia (Queensland), Sarah Hunter, Assistant Governor (Economic), explores the interconnectedness of global and domestic economies, and outlines the RBA’s analytical framework for navigating economic uncertainty and informing monetary policy decisions. Some fortunate students were able to attend as well highlighted by some brilliant Q&A discussion. Key topics discussed were uncertainty, inflation, employment and of course international tensions.
With a couple of interest rate cuts this year, and many of us teaching the price mechanism and/or monetary policy, CoreLogic sure is coming in handy. This article from CoreLogic provides an accessible overview of recent trends in Australia’s housing market, highlighting national patterns and key economic influences on property values. It offers insights into how markets respond to factors like interest rates, consumer confidence, and affordability—making it a valuable resource for high school economics students studying real-world applications of demand and supply, monetary policy, and economic indicators. The article helps students link theoretical models to current events, encouraging critical thinking about the housing sector’s role in the broader economy. It's a useful classroom discussion tool for both macroeconomic and microeconomic concepts.
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