Queensland Economics Teachers Association

   Queensland Economics Teachers' Association Inc.

News - April 2021

14 May 2021 5:50 AM | QETA ADMIN (Administrator)

Welcome to April and the meaty portion of Term 2. This time of year is especially significant for economics teachers full of news around financial reporting season, the EOFY and Treasurer's Budget Speech. Here are some items you may find interesting. 

The Treasurer, Josh Frydenberg will deliver the 2021-2022 Federal Budget on Tuesday 11 May 2021 (AEST)

By the time you're reading this the 2021-2022 Budget may have already been delivered. This is a significant event for economists as it outlines the priority economic policies and interventions of te Australian Government for the next several years. It also outlines the current state of the economy and their strategic management going forward. 

There will be no shortage of media coverage, but the official documents in full are on at: https://budget.gov.au/

This is especially valuable for Year 12 which may be well into Unit 4 and studying Economic Management, the macroeconomic objectives, and of course fiscal, monetary and microeconomic policy. 

If you've never used the Budget as a resource here are some suggested activities

- Students can watch the speech and note key economic initiatives and their potential impact on the circular flow of income and aggregate demand

- Students can predict aspects of the budget based on key economic indicators such as GDP growth, unemployment and inflation

- Students can prepare presentations evaluating the appropriateness or the effectiveness of the Budget initiatives in relation to the macroeconomic objectives

There will be no shortage of news coverage from the ABC which usually posts the full speech and a wealth of commentary. The official website from which the documents can be found is www.budget.gov.au

Teaching Resource - Marginal Revolution University

The MRU (https://mru.org/) is a terrific website which is designed to provide videos, articles and activities to help students understand the fundamental skills and concepts of economics. A quick peek at the main page will showcase resources on microeconomics, macroeconomics, everyday economics, jobs in economics and the like. 

Especially relevant to those teaching Unit 1, may be the interactive supply and demand curves. This application provides questions which challenge students to experiment with shifts and movements in supply and demand given certain scenarios and practice their ability to work out changes to price and quantity. 

RBA Economics Webinar for Students 

A special webinar for Economics students and their educators – an RBA economist will share insights on monetary policy and current economic conditions. Students and educators should register directly to attend this online event. The event is Wednesday 26 May from 4:00pm to 5:00pm. This free online even is intended for university students but given several students may be enrolled in early uni courses, or may be keen for extension opportunities it is open to all. 

An RBA economist will provide insights into the latest developments in the Australian economy.

Date Wednesday, 26 May 2021
Time 4.00 pm – 5.00 pm
Intended audience University students and their educators
Cost Free

QETA Teacher PD Conference 2021

Date & Time:     Saturday 24/07/21 9-2pm

Format:                In person – Brisbane Girls Grammar, Spring Hill


More details to be provided shortly including how to register.

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