TEiQ Issue 3 2020

Content in this issue includes:

  • The economy according to the ABS
  • The economy from the eyes of the RBA
  • Unit 1 Demand factors
  • Unit 1 Contextual focus: Banana market forces
  • Unit 2 Contextual focus: Market power/market failure
  • Unit 2 Modified Markets
  • Unit 3 Exchange rate resources
  • Unit 3 Simulations and explainers
  • Unit 4 Simulations and explainers
  • The three P's in a post covid world
  • Skills: Graph interpretation
  • AC Economics and Business Year 7
  • The 2020 membership committee


Other Latest Articles

RBA Summary of Current Economic Conditions - May 2022


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.

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