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Carbon Credits and Koala Habitat | The Australia Institute

Over the last few weeks thinktank The Australia Institute has been advocating for more attention toward NSW logging and the damaging impacts to koala habitat, drawing strong connections to NSWs Carbon Credit scheme. As many of us dive into ecological sustainability and the management of environmental resources, carbon or emissions trading is popular policy for discussion given its wide-scale adoption in various forms across the world. As always, economists look at the impacts and opportunity costs of all economic events and policies, weighing up the realities of all angles.

Here's their video which is likely to spark some keen debate on the merits and effectiveness of carbon trading. 

Practice Questions

Unit 1
Assume the demand for asthma medication is price inelastic. Also assume that the demand for airpods are price elastic. Draw a price mechanism model for each of these markets to show the impacts of supply shocks on the equilibrium price and quantity for each. Use these models to explain the impact that the price elasticity of demand has when a supply shock occurs in markets. 

Unit 3:
Explain the difference between the following economic indicators, and whether "increases" are most likely favourable or unfavourable for the Australian economy. 
a) Terms of Trade
b) Current Account Balance
c) Australian dollar against the Trade Weighted Index
d) Net income transfers

Cash Rate Held at 4.35%

Were you caught off guard with the latest RBA Monetary Policy decision as well? It may take us a bit of time to adjust to the new schedule of meetings, no longer on the first Tuesday of every month but now, 8 times a year, without a patter distinguishable by me. For everyone (else) who wants to mark these in their calendars, here are the RBA meeting dates for 2024:

  • 5–6 February
  • 18–19 March
  • 6–7 May
  • 17–18 June
  • 5–6 August
  • 23–24 September
  • 4–5 November
  • 9–10 December.
In any case, here is the link to the speech and statement. Even though monetary policy does lock in until Unit 4, there are plenty of reasons younger students will benefit from understanding the impact central banks have on the supply of money and the circular flow of income. It's tradition around here to read the statement, annotating key indications of economic performance, unpacking forecasts and discussing the logic behind the RBA decision making. This year, my classrooms have tried predicting what the media coverage may be like. Much of the journalism around each decision follows similar flows:
1. Why this decision
2. What it means for <stakeholder XYZ>
3. What predictions can be made about the future and, 
4. What economic data will these forecasts be based on.


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