Download Welcome to QETA Newsletter 13 2013. QETA CALENDAR OF EVENTS July 22-26

Welcome to QETA Newsletter 13 2013.
QETA CALENDAR OF EVENTS
July 22-26
July 22-26
August 7
August 27
August 30
September 16
November 20
UQ Student Economics Competition
Economics Week
Economics Society Seminar on Market Design
Economics Society Seminar Cost-Benefit Analysis at Quay West Brisbane
Econopak Number 3 Published
UQ Student Economics Competition Presentation of Prizes
QETA Annual General Meeting
QETA NEWS
1. QETA STUDENT ECONOMICS COMPETITION
The Student economics Competition must be conducted in your school this week if you have entered your students. It’s not too
late to enter, but you will need to do so urgently via the QETA website www.qeta.com.au. This year we have about 2150
students entered – about 60% of the Year 11 and Year 12 cohorts of Economics.
2. QETA STUDENT ECONOMICS DAYS
Many thanks to the Schools of Economics at QUT and UQ for the student economics days held last week. Over 750 students
attended these days and once again feedback was generally very positive about the benefits of the day for students.
3. PROMOTING ECONOMICS
For many schools, attention turns to Year 10 subject selection for Year 11 next year. Don’t forget that QETA has student
brochures and student pens available for purchase to help you promote Economics, as well as a PowerPoint Presentation. Details
of these are available at www.qeta.com.au
4. AUSTRALIAN CURRICULUM
QETA has submitted a response on the Economics and Business Curriculum to ACARA for consideration. Our submission will be
available on the QETA website shortly for all to read.
RESOURCE
ETHICAL CONSUMERISM
From Spinney Press
Australians live in a consumer society. It can be easy to ignore the fact that every purchase we make has an impact –
financially, socially and environmentally. Being an ethical shopper means making conscious choices about what we consume,
and how it affects our world. Do we choose low-cost, high convenience and unnecessary consumption over environmental
sustainability, corporate responsibility and actual need? Do the products we purchase harm other humans, animals or the
environment? Are the people who produce them working in decent conditions? How can consumers influence producers and
retailers to supply products free of exploitation? Ultimately there are no right or wrong buying decisions, just better or worse
purchases according to what you value. This book explores a range of issues involving ethical choices for conscious consumers
to consider.
PRICXE $24.00
Available from QETA, P.O. Box 254 RED HILL 4059 [email protected]
PROFESSIONAL LEARNING
FROM THE ECONOMICS SOCIETY
7 August 2013 (12.30 to 2.00pm) – Professional Development Seminar on Market Design presented by UQ
Professor Flavio Menezes
Market design is a new field of economics which has led to the creation of new types of markets which include markets to
allocate frequency spectra for mobile telephony, to source blood products and even to match organ donors to recipients.
Sponsored by Deloitte Access Economics.
27 August 2013 (8.30am to 4pm) – Cost Benefit Analysis: Theory and Practice presented by Drs Alex Robson,
Nerina Vecchio and Chris Fleming from Griffith University’s Department of Accounting, Finance and Economics.
This full day workshop provides a short course for practitioners with a background in economics who would like to refresh their
skills, gain a deeper understanding of and appreciation for the art and science of cost benefit analysis, and better understand
how this powerful set of tools can be applied to real world problems.
As QETA has kindly joined as an institutional member, teachers who are personal members of QETA or teachers who are at
schools which are QETA members can attend at member rates (which is $465 for the day including a light lunch and
refreshments). If 3 or more teachers from QETA, the Economics Society will provide a 10% discount. See the attached flyer
for more details. If you are registering, please notify us at [email protected] so that we can coordinate the
discount.
FROM ASIA EDUCATION
New Study Program: Indonesia: Past and Present
Registrations are now open for the new AEF Study Program, Indonesia: Past and Present. Focused around the islands of South
Sulawesi and Java, this program provides Australian educators with the opportunity to experience Indonesia’s past and present
through visits to key cultural sites and briefings by in-country experts.
Participants will gain a deeper understanding of Indonesia and its people, and collect a range of learning and teaching resources
to support inclusion of the Asia and Australia’s Engagement with Asia cross curriculum priority into History, Geography, The Arts
and language programs.
The study program will run from 28 September – 8 October 2013. See the AEF Study Programs page for the itinerary and
registration information.
RESOURCES
1. FROM THE FEDERAL TREASURY
IMF World Economic Outlook July Update
Extract:
The IMF's latest World Economic Outlook (WEO) serves to highlight the resilience of the Australian economy as a standout
performer in a subdued global economic environment.
Read more
Media release
18 July 2013
Standard and Poor's reaffirm Australia's credit rating
Extract:
Today, the global credit rating agency Standard and Poor's (S&P) released its annual review of Australia's sovereign credit
rating. The result of the review was to affirm the Australian Government's AAA credit rating, with a stable outlook.
Read more
2. FROM THE ABS
6105.0 Australian Labour Market Statistics, July 2013
http://www.abs.gov.au/ausstats/[email protected]/mf/6105.0?OpenDocument
3401.0 Overseas Arrivals and Departures, Australia, May 2013
http://www.abs.gov.au/ausstats/[email protected]/mf/3401.0?OpenDocument
5671.0 Lending Finance, Australia, May 2013
http://www.abs.gov.au/ausstats/[email protected]/mf/5671.0?OpenDocument
9314.0 Sales of New Motor Vehicles, Australia, Jun 2013
http://www.abs.gov.au/ausstats/[email protected]/mf/9314.0?OpenDocument
5609.0 Housing Finance, Australia, May 2013
http://www.abs.gov.au/ausstats/[email protected]/mf/5609.0?OpenDocument
8165.0 Counts of Australian Businesses, including Entries and Exits , Jun 2008 to Jun 2012 (Additional Information)
http://www.abs.gov.au/ausstats/[email protected]/mf/8165.0?OpenDocument
6202.0 Labour Force, Australia (Media Release), Jun 2013
http://www.abs.gov.au/ausstats/[email protected]/MediaRealesesByCatalogue/46DFE12FCDB783D9CA256B740082AA6C?OpenDocument
6202.0 Labour Force, Australia, Jun 2013
http://www.abs.gov.au/ausstats/[email protected]/mf/6202.0?OpenDocument
8731.0 Building Approvals, Australia, May 2013 (Replacement Content)
http://www.abs.gov.au/ausstats/[email protected]/mf/8731.0?OpenDocument
5439.0 International Merchandise Imports, Australia, Jun 2013
http://www.abs.gov.au/ausstats/[email protected]/mf/5439.0?OpenDocument
8752.0 Building Activity, Australia, Mar 2013
http://www.abs.gov.au/ausstats/[email protected]/mf/8752.0?OpenDocument
3. FROM THE IMF
IMF World Economic Outlook (WEO) Update -- Growing Pains, July 2013
http://www.imf.org/external/pubs/ft/weo/2013/update/02/index.htm
Country Report No. 13/211: People's Republic of China: 2013 Article IV Consultation
http://www.imf.org/external/pubs/cat/longres.aspx?sk=40786.0
IMF Survey : China: New Round of Reforms Needed for Continued Success China’s economy is expected to expand at
7¾ percent this year—broadly the same pace as last year—but the risk of moderation has grown, say IMF economists.
http://www.imf.org/external/pubs/ft/survey/so/2013/car071713a.htm
4. FROM WORLD BANK
Countdown to the MDGs
With fewer than 1,000 days left until the 2015
deadline for countries to read the Millennium
Development Goals, how are we doing? You can
see for yourself with this interactive data
visualization tool.
More MDG Data Dashboards
Global Monitoring Report: Tracking
Progress on the MDGs
Read More About the MDGs
Release
Multilateral Development Institutions Support a Robust Vision for Sustainable Development
EAST ASIA & PACIFIC
Update on Vietnam's Recent Economic Development
View Regional Site »
5. FROM THE RBA
Remarks delivered by Dr Guy Debelle at the launch of the Funding Australia's Future Project in Sydney are available on the
Reserve Bank website.
http://www.rba.gov.au/speeches/2013/sp-ag-100713.html
The Reserve Bank of Australia has released the Minutes of the July 2013 Monetary Policy Meeting of the Reserve Bank
Board.
http://www.rba.gov.au/monetary-policy/rba-board-minutes/2013/02072013.html
6. PRODUCTIVITY COMMISSION NEWS
The following publication has been released.
Deep and Persistent Disadvantage in Australia (staff working paper)
By Rosalie McLachlan, Geoff Gilfillan and Jenny Gordon
View Report
View Key Points
View Media Release
7. FROM BUSINESS SPECTATOR
A snapshot of a slowing three-speed world
10 Jul 2013 | 1:31 PM | Olivier Blanchard - IMF
The world economy remains in three-speed mode, divided between emerging markets, the US and Europe. But the
overall speed is slower and new risks are rising.
Consumer sentiment holds steady in July : Westpac
10 Jul 2013 | 10:57 AM
Index remains in positive territory, views on economic outlook improve.
read more >
How to read inflation in Chinese
10 Jul 2013 | 7:13 AM | Stephen Koukoulas
China's GDP was always meant to fall back to more sustainable levels but its rising inflation, coupled with a US growth
spurt, spells good news for Australia.
read more >
The investment test that has Beijing trailing
10 Jul 2013 | 6:47 AM | John Lee
China may be a potent force in world trade but it lags on foreign investment – a far better indicator of economic
integration and intimacy.
read more >
Economics with a bang and a whimper
9 Jul 2013 | 8:38 AM | Steve Keen
The fallout from the global financial crisis suddenly brought the long decay of neoclassical economics at universities into
play in the real world.
read more >
Vital signs from China
15 Jul 2013 | 7:00 AM | Stephen Koukoulas
Chinese growth is perhaps the biggest threat to global stability and today’s GDP release may stoke 'hard landing' fears.
But in the longer term, China watchers should be pleased.
read more >
A four-wheel terror for unions
15 Jul 2013 | 7:57 AM | Robert Gottliebsen
If GM workers sign up to a deal compatible with global manufacturing conditions, miners and other manufacturers will
have a precedent to remove union control. No wonder the ACTU is alarmed.
read more >
WEEKEND ECONOMIST: Contractionary tide
12 JUL 2013 | 5:15 PM | ELLIOTT CLARKE
Fragile sentiment is being contrasted with signs of an upturn in parts of the economy, the housing sector in particular.
But against an international backdrop, the picture remains contractionary.
read more >
Markets: Craig James – market muscle
12 Jul 2013 | 5:15 PM | Brett Cole
The pin-up CommSec economist says Australians must be careful not to talk their way into recession.
read more >
The patience behind Bernanke's design
12 Jul 2013 | 7:14 AM | Stephen Koukoulas
This is the best the US has looked in five years, and there’s no way Ben Bernanke will disrupt that by tightening too soon.
When he does it will be cushy and gradual.
read more >
Stuffed wallets are ready to burst
19 Jul 2013 | 6:28 AM | Stephen Koukoulas
Household wealth has hit record highs, debt is being repaid at a rapid rate and real wages continue to grow. A surge in
spending is coming.
read more >
Economy can escape hit from mining decline: Bowen
18 Jul 2013 | 12:52 PM
Treasurer says move from resources investment need not push economy 'off a cliff', productivity is key to transition.
read more >
Stand up and give confidence a chance
17 Jul 2013 | 8:39 AM | Adam Carr
The Reserve Bank's aggressive easing cycle has fanned flames of economic pessimism. A more even-handed approach
could finally give confidence a much needed boost.
read more >
Chinese investment in Aust soars 93%
17 Jul 2013 | 3:42 PM
Govt data shows broader Chinese overseas investment grew 29% to $49.62bn in first half, year-on-year.
read more >
Further rate cuts needed: ACCI
16 Jul 2013 | 11:26 PM
ACCI cites ongoing economic fragility as motive for further cuts.
read more >
China, US concerns weighing on economy: RBA
16 Jul 2013 | 11:37 AM
Minutes of the RBA's July board meeting show members watching closely the impact of Australian dollar on inflation outlook.
read more >
8. CHINA: A PLACE OF CHANGE AND OPPORTUNITY
Kerry O. Cox, Vice Chancellor of Edith Cowan University, provides an excellent reflection on his time in China and the lessons
that can be learned from such a dynamic and ever changing economy. More > > >
9. AUSTRALIA'S PRODUCTIVE COMPETITIVENESS - AN OVERVIEW – Mannkal Foundation
This is the third of our series and has links to earlier comments. A hot topic and we welcome your continuing input. More > >
>
10. DO SCHOOLS KILL CREATIVITY?
This TED Talk by Sir Ken Robinson raises an interesting argument on whether the education system in the US is dampening
creativity amongst developing minds. Could this be a relevant factor to explain the similar phenomenon of 'cookie cutter'
students (and later university graduates) that have led to Australia's dwindling innovative climate relative to our global
counterparts? More > > >
11. A TAX TIME REMINDER: THE FORBIDDEN HISTORY OF TERRIBLE TAXES
With the end of financial year upon us, this clip by Topher is a great reminder of how Australia's cradle-to-grave welfare culture
has significant consequences for the true welfare of our nation. More > > >
12. VIDEOS AVAILABLE ON ECONOMICS SOCIETY WEBSITE
Videos available
Glenn Steven’s lunch address. For those of you who were unable to attend the Society’s function with Glenn Stevens on 3 July,
we have now loaded the video of his speech onto the website – see www.taketwoproductions.com.au/esa/. The lunch was very
successful, with 350 people in attendance. The Governor’s speech covered a range of longer-term issues facing the Australian
economy and it received extensive media attention – for his speaking notes see www.rba.gov.au/speeches/2013
We have a range of other video’s from former events on our website which may also be viewed at
www.taketwoproductions.com.au/esa/.
13. POPULATION MATHEMATICS FROM ASIA EDUCATION
Population mathematics Population mathematics explores the theme of human population and focuses on developing
student familiarity with data representation and interpretation. It supports the Australian Curriculum for Mathematics: Statistics
and Probability.
Students are introduced to the concept of population clocks and use data to compare population numbers and life expectancy in
Australia and various countries in the Asia region.
Explore Population mathematics.
Access the full suite of 12 modules on the AEF Web Portal.
WEBSITE
http://www.fte.org/teacher-resources/blended-learning/
Doug Cave
QETA Secretary/Treasurer
[email protected]
http://www.qeta.com.au
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