Queensland Economics Teachers Association


   Queensland Economics Teachers' Association Inc.
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  • 06 Aug 2020 5:09 AM | QETA ADMIN (Administrator)

    QETA members may be interested in the following message from the Reserve Bank of Australia

    Dear Educator

    Subject selection is looming in many schools. But what could this mean for Economics?

    In June’s Bulletin publication, the RBA has released the results of a new student survey, as part of a wider investigation into the decline in size and diversity of the Economics student body since the early 1990s. A total of 51 schools completed the survey between July and September 2019, producing a sample of over 4,800 students from Years 10, 11 and 12.

    The sample involved students who studied, and who did not study, Economics – it confirmed the lack of diversity in the subject, with Economics students significantly more likely to be male, from a higher socio-economic background, attend school in a major city, attend an all-boys school or choose subjects based on ATAR scaling.

    The survey results provide insights into some of the ways that schools could promote Economics to their students, encouraging a more diverse pool of students to study the subject.

    Below are some of the key findings from the survey.

    • The top three reasons students choose subjects include:
      • interest
      • perceived competence, and
      • whether the subject would be relevant for future study or work.
    • Students typically believe that the discipline of economics:
      • can be used for social good
      • has a wide range of career opportunities
      • is NOT ‘more of a career for men’.
    • In terms of the school subject of Economics, students hold perceptions that:
      • they could do well at Economics
      • it scales well for the ATAR
      • it provides skills for everyday life, and isn’t ‘all about money’.
    • However, some negative perceptions of Economics persisted, with students not perceiving it as interesting and having little desire to know more about it. Economics is perceived as having a heavier workload than most other HSC subjects. Students indicated they prefer to study Business Studies because they think it will be more useful for their future and more interesting.
    • While students perceive that an economics degree leads to a wide range of career options, students are less likely to have a clear idea of the specific careers available if they were to choose to study Economics in Year 12.
    • Negative perceptions tended to be more pronounced for females, and for students in schools with a low socio-economic background (compared with high socio-economic) and regional areas (compared with metro areas). In particular, a ‘confidence gap’ exists to the disadvantage of students from low socio-economic background and regional locations, who are less likely to feel they ‘could do well in Economics’. These students were more likely to see Economics as ‘a risk to study because they don’t know what it is about’.
    • Students highlighted that ‘identifying problems’ and ‘globalisation’ were the economics topics they found most interesting; however, these differed by sex. In particular, female students were more likely to cite ‘identifying problems’, whereas male students were more likely to cite the ‘share market’.

    To encourage students to choose Economics, there is scope to play to its strengths and address its image problem, as well as to fill information gaps about the subject. It may be beneficial to focus on how Economics meets the criteria of the things that matter most to students – namely, being interesting, providing skills for everyday life, and providing future work and study paths. Additionally, tapping into the specific aspects of economics that attract boys and girls could help to influence their decisions.

    Recent developments may also work to raise the profile of economics amongst students, and spark demand for the subject: 

    • Students will develop awareness of economics through the mandatory economics elements in the new Commerce curriculum (NSW).
    • The effect of COVID-19 on the economy has regularly featured in the media (and probably in household conversations). Many students have seen, first-hand, the impact of economics on people’s lives and so their interest in the subject may have increased.
    The Reserve Bank is committed to supporting educators and students. It provides free teacher professional development and a wide range of resources, talks and events, thus supporting schools to be able to offer Economics to their students. It is currently building on its library of online resources to support teachers and students across Australia, including those who are learning remotely.   

    Best wishes

    Christina

    Christina You | Senior Public Education Officer | Information Department  

    RESERVE BANK OF AUSTRALIA | 65 Martin Place, Sydney NSW 2000
    p: +61 2 9551 9731 | e: youc@rba.gov.au |
    w: www.rba.gov.au

  • 04 Aug 2020 6:52 AM | QETA ADMIN (Administrator)

    QETA members may be interested in the following message from ESA. 

    Economic Challenges and Opportunities for Australia and the United States

    In conversation with The Hon Nick Greiner AC, former NSW Premier and Federal President of the Liberal Party

    Join us in conversation with The Hon Nick Greiner AC. We will canvass a range of issues covering economic opportunities and challenges for Australia, in particular the policy responses to COVID, the upcoming US elections, US-Australia trade and investment relations, and diversity in politics and economics.

    The NSW Women in Economics Network (WEN) is very pleased to host this webinar as part of the national seminar program with the Economics Society of Australia (ESA).

    Important Note: Chatham House Rule applies for this event.

    ________________________________________

    Details

    When: Wednesday 19 August 2020

    Time: From 12.30pm until 1.30pm AEST

    Where: Online via Zoom - register below

    Cost: Free of Charge - Member Only Event

    ________________________________________

    About our Speaker

    The Hon. Nick Greiner AC was Premier and Treasurer of New South Wales from 1988-1992. Since his retirement from politics he has been heavily involved in the corporate world. He is Chairman of Council of Advisors, Rothschild & Co. He is a Director of SGSP (Australia) Assets Pty Ltd and Northern Gas Pipeline Jemena. He is Director of CPE Capital Group Services Pty Ltd, and of Marand Precision Engineering, The Jaybro Group and Banksmeadow Recycling. Nick is Federal President of the Liberal Party, and a Member of the CEDA Leadership Council. Adviser for Wattle Hill RHC Fund, Adviser for McKinsey and Company Public Sector Group, Chairman Board of Advice, University of Sydney Nursing School and is a Member of the Advisory Board for the John Grill Centre for Project Leadership.

    In the Queen’s Birthday Honours List of 1994 he was awarded a Companion of the Order of Australia for public sector reform and management and services to the community and in 2001 the Centenary Medal. Nick holds an Honours Degree in Economics from Sydney University and a Master of Business Administration with High Distinction from Harvard Business School. He is a Life Fellow of the Australian Institute of Company Directors, an Honorary Fellow of CPA Australia and a Life Member of the South Sydney Rugby League Club and of the NSW Division of the Liberal Party. He was President of Squash Australia from 1996 – 1999 and of Soccer Australia from 2001 - 2002.

    ________________________________________

    Dr Kar Mei Tang (facilitator) is an Industry Fellow with the University of Technology Sydney and Secretary of the NSW Women in Economics Network Committee. She has held senior executive roles in the NSW Department of Premier and Cabinet, Environment Planning Authority, Department of Planning, Industry and Environment, and with the Australian private equity peak body. She has also worked as a financial regulator and consultant and has been a member of various APEC and ASEAN economic policy committees and working groups. KarMei has a PhD in Economics (Sydney), Masters in Applied Statistics (ANU) and B.CommHons (Melbourne).

    ________________________________________

    Registration and Joining the Webinar

    To register please book online below via the NSW Branch website. The link to join this webinar will be included in your auto-generated invoice email - please look out for this and keep it safe until the webinar is due to be broadcast. Note, these emails sometimes get caught in spam folders. The timing of this event is AEST.

    REGISTER NOW VIA THE NSW BRANCH

    Regards

    ESA Central Council

  • 31 Jul 2020 5:02 AM | QETA ADMIN (Administrator)

    QETA members may be interested in the follow message from ESA.

    There are a number of webinars over the next month of interest.

    Two organised by the Economic Society in Queensland are:

    Tuesday 11 August, 12.30 - 1.30pm AEST:   When Does Industry Benchmarking Become Collusion?  with Greg Kubitz, QUT

    The presentation will analyse when industry benchmarking and other information sharing agreements become collusion and lessen competition in a substantial way.  The presentation will also discuss whether the considerations taken into account should change in the current extreme circumstances during a pandemic.

     Bookings may be made here.

    Thursday 27 August, 5 to 6pm AEST:   2020 Ted Evans Public Policy Lecture, by Professor Ian Harper AO -The Human Dimension of Good Economic Policy-making

    This lecture, held in conjunction with the University of Queensland, Queensland University of Technology and Griffith University, is to recognise the contribution which Ted Evans AC, former Secretary to the Treasury from 1993 to 2001 and Chair of Westpac from 2007 to 2011 made to effective economic policy.

    Ian Harper will draw on his extensive policy experience in financial regulation, wages policy, competition policy and, most recently, monetary policy during the pandemic to discuss the ways in which his own approach to good economic policy-making has been shaped by Ted’s example in keeping one eye on how the policy advice translates into the lives of ordinary people.

    Bookings may be made here.

    Other webinars of possible interest - we are spoilt with choice!

    Thursday 30 July, 5.30 to6.30pm AEST: 'New Global COVID-19 scenarios' with Professor Warwick J. McKibbin AO (ACT Branch)

    The recent Crawford School of Public Policy Working Paper, McKibbin and Fernando (2020) uses epidemiological and economic data on the COVID-19 pandemic to explore six plausible scenarios of the future economic consequences of the COVID-19 pandemic.  Warwick McKibbin will discuss his current world leading research of global macroeconomic scenarios of the COVID-19 pandemic.

    Bookings may be made here.

    Friday 31 July, 4 to 5pm AEST: RBA webinar on Exploring Economics

    Places are available for the Reserve Bank of Australia’s online careers event this Friday afternoon. The webinar is aimed at high school and undergraduate students, educators and careers advisors. Young economists at the RBA will share insights about their career path and role, and the returns to studying economics. Details about the event and registrations can be found on this page.

    Thursday 6 August, 5 to 6pm AEST:  Improving Women's Financial Literacy (WEN)

    An expert panel from the public sector and academia will discuss women’s financial literacy and why it needs to improve, particularly in the current context - with women’s economic wellbeing disproportionately affected by COVID-19.

    Further details and to book are here.

    Best wishes, Secretariat

    Economic Society of Australia (Qld)
  • 29 Jul 2020 4:31 AM | QETA ADMIN (Administrator)

    A few days early but there were a number of items that we wanted members to know about as soon as possible. We hope that you will take advantage of some of the items below.

    Q & A with Alan Kohler

    By now members should have received an invitation to attend an online forum with respected financial journalist, Mr Alan Kohler. The event will be held online commencing 3.20pm (for a 3.30pm start) until 4.00pm Friday 21st August.

    QETA is excited and extremely pleased that Alan has graciously offered his time to answer questions from our members. To register your attendance, please click the link below and follow the prompts.

    If you have questions for Alan to address, please send them to info@qeta.com.au  these questions will be forwarded to Alan so that he can adequately address them in the time available.

    RBA Careers Talk (Urgent!) and Latest Resources

    The RBA is also offering a careers talk this Friday afternoon (1st August).

    Young RBA economists will share insights on why they chose to study economics, their career path, and their role. This will provide helpful ideas around how to promote Economics in your school. If you or your students haven’t yet registered for this online careers event, places are still available. Register here.

    https://www.rba.gov.au/education/talks-and-events/online-student-talks/

    The RBA has again been publishing resources for educational purposes. A string of videos has been released on YouTube covering the topics of

    • Reading and Interpreting Charts – Introduction
    • Reading and Interpreting Charts – Examples
    • Current Economic Conditions – Household Spending (Consumption)
    • Gross Domestic Product (GDP)
    • Measuring Economic Variables (Nominal v Real)

    These videos are available form the RBA's educational website or their YouTube page.

    QETA Annual General Meeting

    The Association's AGM will be held online this year on Wednesday 14th October. The Management Committee is hopeful that the move to an online forum for this gathering will allow members from all around the state to get together. An invitation to participate will be sent shortly with regular reminders between now and the event itself.

    Please consider nominating yourself or a fellow member for a positon on the Management Committee. Nomination forms are available from the event details page on the website.

    ABC Radio National - The Economists

    The national broadcaster has been in touch with QETA drawing our members attention to The Economists, a program analysing our economy and how to better understand it.

    Presenters Peter Martin and Gigi Foster are talking to experts and producing shows covering a range of topics related to the current economic climate.

    Recent programs include:

    To access more episodes, go to https://www.abc.net.au/radionational/programs/the-economists/ or subscribe to the podcast at https://podcasts.apple.com/au/podcast/the-economists/id1438467241

    Economic Society of Australia

    During the current difficult times, the Economic Society of Australia has been holding series of webinars on economic topics.

    A recent one with Guy Debelle, Deputy Governor of the Reserve Bank of Australia on the Reserve Bank’s policy actions and balance sheet, was attended by high school teachers of Economics and students across several States.

    For those who were unable to join the webinar, a recording of the webinar, as well as others in the series, is available here:

    Parliamentary Education Office – FREE Video Conference Programs

    Some members may also be interested in the offerings of the Parliamentary Education Office (PEO).

    The PEO offer FREE video conference programs for students from years 5 to 12 as well as professional learning for teachers. The curriculum-aligned programs explore the function and significance of Australia's democratic system of government. They also seek to make civics and citizenship more dynamic, relevant, and memorable for you and your class. Programs can be offered using apps such as Zoom, Microsoft Teams and Google Meets.

    For more information, our programs and how to book, head to the PEO website or email us at PEOLearning@aph.gov.au

  • 14 Jul 2020 6:30 AM | QETA ADMIN (Administrator)

    Welcome back to the new term. The QETA Management Committee hopes that all its members and their families remain well.

    Please note that we will soon be discussing arrangements for this year's Annual General Meeting. We will provide information to all members once we have established how this may work this year.

    QETA UQ Student Economics Competition - Last chance to register!!

    Thank-you to all those teachers who have registered their students for this year's competition. Entries close tomorrow (Wednesday 15th July). If you haven't already registered and still wish to do so, do it now!!

    Competition papers will be forwarded to school contacts later this week. Schools copy the papers for their students and return the response sheets to QETA once completed.

    The annual QETA UQ Student Economics Competition is open to Year 11 and 12 students of all schools in Queensland. The test is held at your school in any 45 minute window between 20th - 24th July 2020.

    There is no entry fee. There are cash prizes for students who obtain first, second or third place in each of the two year levels.

    To enter your school and its students, simply click the link below and follow the prompts. Entries must be received by Wednesday 15th July 2020.

    QETA UQ Student Economics Competition 2020

    More RBA Teaching Resources

    The RBA Education team has added an additional three resources to their suite of materials. These include new Illustrators to summarise ‘Groups in the Labour Market’ and ‘Types of Unemployment’.

    They have also created a new Learning Activity – ‘The Future of Work - worksheet’, which provides questions to complement the popular The Future of Work video.

    These resources and more are all available from the Education section of the RBA website.

    QETA Biennial Conference

    Due to the ongoing risks associated with the COVID pandemic, QETA has decided to postpone this year's conference. We had hoped to reschedule this event for later in the year but the ongoing uncertainties have meant that we have had to make a firm decision. At this stage our conference will now be held in 2021. We appreciate the understanding of all members during this difficult time.

    However, we are preparing some online resources that should be of interest and use to teacher members. These will take the form of a live online meeting with the proceedings recorded for those members not able to join in at the time. These are planned for late August this year. You will receive information about this in the coming weeks.


  • 02 Jun 2020 6:48 AM | QETA ADMIN (Administrator)

    There are a number of things to keep members informed of this month. We hope that you can make use of the following offerings and the end of semester treats you well.

    QETA UQ Student Economics Competition

    Entries are now open for this year's QETA UQ Student Economics Competition. Last year a record number of entries were received, and we are hopeful that this year will be as popular. This event is open to students of Years 11 and 12 of all schools in Queensland.

    The competition consists of a 40-item multiple choice test assessing content from the QCAA Economics 2019 General Senior Syllabus. The first 10 questions assess some knowledge of current economic events.

    The test is held at your school in any 45-minute window between 20th - 24th July 2020.

    There is no entry fee. There are cash prizes for students who obtain first, second or third place in each of the two year levels.

    The competition papers are forwarded to schools by email prior to the test window. Schools copy the papers for their students and return the response sheets to QETA once completed.

    To enter your school and its students, simply click the link below and follow the prompts. Entries must be received by Wednesday 15th July 2020.

    QCAA Online Webinar - Endorsement: Economics

    QCAA have announced a professional development event for teachers of Economics. The online webinar will focus on identifying subject-specific knowledge gained from the 2019 – 2020 endorsement process and look to provide subject-specific advice to schools for preparing assessment instruments for the 2021 cohort in the endorsement application.

    The presentation is free and will be held 3.30-4.30pm Monday 15th June. Please see the following link for further information and registration details.

    More RBA resources

    The RBA has been particularly active in preparing resources for schools. They have produced 2 new videos to add to their library of online materials:

    • Summary of Current Economic Conditions – data as at 7 May 2020 - This video is a summary of current conditions in the Australian economy, presented by Deputy Head of Economic Analysis, Mark Chambers.
    • Topical Talk – Recent Developments in the Labour Market - This is a recording of the recent teacher professional development webinar, in which Head of Prices, Wages and Labour, Natasha Cassidy, discusses the effect of COVID-19 on the Australian labour market as at 25 May 2020. The RBA has made this available for teachers who were unable attend the webinar, but you may also find it useful to share the content with your students.

    They have also released 2 more explainers

    • Recession describes the nature of the business cycle, different approaches to identifying a recession and some of the recessions that have occurred in Australia.
    • Bonds and the Yield Curve explains what a bond is, how the yield curve is formed from a series of bond yields and why the yield curve is important.

    Economics Society of Australia Webinar

    As part of its webinar series, the Economic Society of Australia invites members of QETA to participate in an important address and Q&A with Guy Debelle, Deputy Governor of the Reserve Bank of Australia on the economy and monetary policy. The webinar will be held 12:30-1:30pm Tuesday 30th June. This is an amazing opportunity and one we hope QETA members can avail themselves of.

    QETA members can register at NO COST for the webinar. If you wish to be a part of the event use the code ESAMEMBER when booking the event.

    ESA has acknowledged that this is during the upcoming school holidays but have also indicated that the webinar will be recorded and made available on the ESA website on the day after the event.

  • 14 May 2020 4:40 AM | QETA ADMIN (Administrator)

    The RBA's education area has been particularly active recently. Please see information below about an opportunity for teachers to participate in an online PD presentation and new resources which may prove useful to members.

    Don't forget the RBA's dedicated Education website can be found at https://www.rba.gov.au/education/

    Online Talk for Teachers

    The RBA will be running an online Topical Talk webinar for economics teachers on Monday, 25 May at 3.45 pm. Head of Prices, Wages and Labour Market, Natasha Cassidy, will be speaking on recent developments in the labour market. The event is aimed at economics teachers and lecturers. It has a limited number of places and expressions of interest are now open.

    New Resources

    • New Digital Interactive – Snapshot Comparison

    We have launched a new digital interactive Snapshot Comparison that enables students to compare snapshots of the economy at different points in time. The Snapshot Comparison generates statistics and graphs showing such indicators as GDP growth, the cash rate, the unemployment rate and inflation.

    • New Illustrator – Unconventional Monetary Policy

    To follow our Unconventional Monetary Policy Explainer, we have created a new one-page Illustrator, which provides a summary of the RBA’s unconventional monetary policy measures currently in place. 

    • New e-magazine Careers with STEM: Economics

    A new e-magazine for students has been added to our Explore Economics careers pages. It contains interviews with economists and the RBA’s Prices, Wages and Labour Market team, as well as insights into the benefits of studying economics and range of careers it can lead to. A PDF version can be found here.  

    • Economics in the news

    Are you going to be discussing the record trade surplus with your students? Our Balance of Payments Explainer provides useful background reading to aid students’ understanding.

  • 08 May 2020 4:37 AM | QETA ADMIN (Administrator)

    Welcome to this month's QETA update.We hope the transition back to face-to-face teaching goes smoothly for our members. It certainly remains a challenging time for us all.

    Teaching Economics in Queensand (TEiQ)

    QETA is pleased to announce the release of its first TEiQ, an irregular publication designed to provide resources and teaching ideas for members. The first edition is available from the members area of the website. You will need to log on to access it. Future editions of this publication are planned so we welcome any feedback you may have or suggestions for inclusion. Content of this issue includes:

    • Thanks to Doug Cave
    • The 2020 Membership Committee
    • The Economy According to the ABS
    • Austrade Economic Terms and Stats
    • Monetary Policy in Australia
    • Unit 1 Contextual Focus: The Economics of a natural disaster
    • Unit 1 Contextual Focus: Using Economics to reduce tobacco use
    • The economic rationale for intervention in the tobacco market
    • We need to talk about Brexit
    • Information Bites and Links
    • Australian Curriculum Economics and Business Year 10

    Tablebuilder updated

    The Australian Bureau of Statistics (ABS) Tablebuilder application has recently been updated to include Businesses in Australia, 2018-19 - free for all registered users.

    This addition has been created from the Business Longitudinal Analysis Data Environment (BLADE) and provides a "comprehensive research base on Australian businesses and the economy ad enables research on business performance, innovation, dynamics & productivity over time".

    If you are not familiar with TableBuilder it is an online self-help tool which enables the creation of tables, graphs and maps using Census data. You can find more information about it from https://www.abs.gov.au/websitedbs/censushome.nsf/home/tablebuilder

    Financial Basics Foundation Webquests

    Financial Basics Foundation has recently released webquests on the topics of Taxation and Banking. These may prove useful for this current period of home-based online learning. WebQuests are an inquiry-oriented online tool for educators to develop self-paced learning for the classroom.

    More information can be found at https://www.financialbasics.org.au

    New RBA Explainer

    The RBA has launched another new Explainer, exploring the topic of ‘What is Money?’. "It looks at what makes something ‘money’, why we need money and its role within an economy, and how money is created. It also looks at money in an historic context, from the cowrie shells and gold coins of the past to digital bank records today."

    You can view this resource from https://www.rba.gov.au/education/resources/explainers/what-is-money.html

    UQ Student Economics Competition 2020

    QETA, with the support of the University of Queensland School of Economics, intends to again conduct its popular Student Economics Competition in early Term 3. Last year more than 2400 students participated in this event. Further information about this year's competition will be provided shortly.

    Museum of Australian Democracy

    While not strictly related to teaching economics, members may be interested in the Museum of Australian Democracy. QETA recently received information from the museum alerting us to free digital excursions. Students and teachers can access these together as a class, even with students learning from home. For more information contact https://www.moadoph.gov.au/

    Facebook Group

    If you have not already, please consider joining our Facebook group. This forum allows the sharing of items of interest for members in a timely fashion. Feel free to share news articles and other materials that you think would be of interest to other teachers of economics. You will need to provide the email address used for your membership in order to be added to this closed group. You can access the group directly from https://www.facebook.com/groups/784996915187795/ (then click 'Join Group') or via the Association's Facebook page.

  • 08 Apr 2020 4:47 AM | QETA ADMIN (Administrator)

    We trust that you are managing things as best you can during these uncertain and difficult times. The Easter break offers us time to refresh and prepare for what will surely be one of the most interesting school terms we will ever face. The Management Committee would like to draw your attention to the following items at this time.

    RBA Resource

    As expected, the RBA seminars will not be held in their current form. We remain hopeful that the RBA will be able to put something together that we can share with you and your students digitally. In the meantime, they have published a new Explainer, describing the "difference between conventional and unconventional monetary policy. It also looks at the different tools that have been used by central banks when conducting unconventional monetary policy and summarises those tools that have been introduced more recently in Australia." The resource can be found at the RBA website's education resources.

    Free Teaching Resources

    As you may be aware several institutions and individuals are providing free access to resources during this time, particularly those that are able to be used for online learning. The following are three such sites by teachers in other states. While there are some aspects that are region specific, the majority remains relevant and useful for Queensland teachers.

    It would be wonderful if QETA members, that felt so inclined, would be willing to share things as well. If so, get in contact and we can assist with getting you some publicity and hopefully fame in other states :-)

    Econopak Back Issues

    In our last communication we mentioned that we are archiving past issues of Econopak. We are pleased to announce that the first set of these is now available for members only from the QETA website. There are currently numerous issues dating back to 1999 for your perusal. We hope that you find this look back at QETA, and the teaching of Economics in Queensland, interesting.

    Plan Your Own Enterprise Competition

    Business Educators Australasia (of which are affiliated) has provided information regarding their Plan Your Own Enterprise Competition for this year. Obviously, with off-campus learning this provides unique challenges, but it may also be an opportunity for students to consider this activity if they have interest in this area. Further information, including a unit of work, can be accessed from the Competitions and Awards section of the BEA website.

  • 30 Mar 2020 5:29 PM | QETA ADMIN (Administrator)

    The Association is currently attemtping to archive issues of Econopak. We hope that members find this retrospection interesting. Perhaps articles of interest will be discovered in past issues. They offer an insight into the topics relevant at the time and the teaching of Economics in Queensland in years gone by.

    The issues are offered as is for member use. As more issues are archived they will be made available from the site.

    1999

    2000

    2001

    2002

    2003

    2004

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QETA Inc.
PO Box 254
RED HILL  QLD  4059

info@qeta.com.au

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