Australia’s food and pharmaceutical supply chain

Empty shelves in Australia’s supermarkets and pharmacies have resulted from people ‘panic buying’. It started with toilet paper and then spread to many other products. ‘It’s like three Christmases in a row’. Nightlife on ABC Radio dealt with the supply problems in their program on 25 March. Of particular interest to us as teachers of Economics and/or Economics and Business are the parts about: the psychology of panic buying (from the 6:10 min mark) increased prices for some products (from the 24:20 min mark).

Have you found the 7am podcast?

Have a listen to Coronavirus part three: the economics of a shutdown. Economist, Richard Denniss gives his opinion on the economic impacts of the pandemic and possible strategies to assist the economy. You can get the podcast from the 7am website or via Spotify

Quantatative Easing

Even in 2011 QE was a thing. Click here to view Clarke and Dawe giving a very funny explanation. The RBA provides the technical explanation of unconventional monetary policy.

Pandemonomics

There is a range of opinion on the what the economic effects of COVID-19 will be. One thing that I know is that it is a great way to engage students in the world of economics. For your own professional learning here are some articles that I have found interesting: COVID-19: The economic rescue package must target households as well as businesses by Danielle Wood and Brendan Coates from the Grattan Institute Published on ABC News, March 19 2020, and available at: https://grattan.edu.au/news/covid-19-the-governments-economic-rescue-package-must-target-households-as-well-as-businesses/ Talking straight on COVID-19: the economic effects will be ugly by Danielle Wood and Brendan Coates from the G

The cost of living

The Money did a fantastic program recently on the ‘Cost of living’. If you missed it, click here to grab the podcast.

Discount on EandB Education materials

We have negotiated with EandB Education for all ETAWA members (either individual or registered on a school membership) to receive a 20% discount on any of their materials that you order. This reduces the Year 7 and Year 8 books from $24.95 to $20. Click here for details on the materials.

The Economists is back on the radio

The Economists is a Radio National program that uses the tools of Economics to shine a light on life. The program is presented by Peter Martin (economy editor at The Conversation and a visiting fellow at the Crawford School of Public Policy at the ANU and the former economics editor of The Age) and Gigi Foster (one of Australia’s leading economics communicators and a Professor at the UNSW School of Economics and the ESA’s 2019 Young Economist of the Year). It airs Thursday 5.30pm. Repeated: Friday at 1.30pm and Wednesday midnight. Another convenient way to listen is to download the podcast at: https://www.abc.net.au/radionational/programs/the-economists/ The first program for 2020 is a winne

Leveraging relevance

‘Leveraging relevance’ is a great phrase that I saw used a few weeks ago. One of the best ways to get students to understand the operation market forces of supply and demand and their effect via competition (or lack there-of) is to explore a current ‘real world’ event. The impacts of health issues and natural disasters are good examples to use (whilst acknowledging the human pain and suffering involved). Below is some information that you can use when discussing with your students the economic impacts of the bushfires in Australia this summer and the coronavirus outbreak in China (and subsequently in other countries where people from the affected part of China have travelled to). Bushfires T

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