Queensland Economics Teachers Association


   Queensland Economics Teachers' Association Inc.

News - July 2021

25 Jul 2021 5:48 AM | QETA ADMIN (Administrator)

Hello Economists! As we move into crunch time for our Year 12s QETA is hoping to push out newsletters which are more frequent and focussed around helping teachers and students.

RBA - Video Suite

The Reserve Bank of Australia has invested heavily in student-friendly explainer videos on key economic subject matter such to help introduce or consolidate learning for economics students -- or provide teachers with clear refreshers for their own professional learning. 

The suite is both rich and easily filtered, around topics such as:

- Objectives of Monetary Policy

- Inflation targets

- Aggregate Demand and Supply

- The Circular Flow of Income

- Exchange Rates

- The labour market and unemployment

If you haven't yet, click below to find the full suite of videos, many of which are mainstays of our classrooms. 

https://www.rba.gov.au/education/resources/videos.html#monetary-policy_video-explainers\

QETA Conference 2021

What a wonderful day with over 50 Queensland Economics teachers! Dr Matthew Peter, Chief Economist from QIC kicked off with a presentation on Global and Australian economic conditions as impacted by Covd-19. We were able to collaborate on reviews of the syllabus and share pedagogy and resources as well. 

Here are some fascinating discussion questions that emerged from the day that may make for rich analytical and evaluative thinking in class:

1. What are the main drivers for economic recovery going forward?

2. How legitimate are the worries of future inflation?

3. How sustainable are the current rates of labour utilisation and productive capacity?

4. How confident are we that the labour shortages as of late will lead to wage growth going forward?

Keynote slides and resources will be pushed out as soon as we can. 

Unit 4 Topic 2: Practice Question

Something new QETA will try for each newsletter is a simple practice questions teachers may find useful for their classes. Here is an example which may provide students a chance to analyse economic information and evaluate a decision on economic management. Feel free to email us sample responses, suggested questions of your own, or anything else to help build our shared capacity. Hope this helps!

Source 1: "Business investment has declined 3%"

Source 2: "CPI annual growth has been steady between 1.2-1.5%

Source 3: "Construction activity remains strong, yet mining is weakening."

Source 4: "Budget repair remains the key priority for the federal government, with the goal to reduce the current deficit."

Question: Based on this information, evaluate the decision the Government has made to prioritise Budget repair. 150 to 250 words.



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