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The publication will be available in April. It provides an invaluable tool to support Year 12 teachers and students in preparation for the 2020 examination. The Guide is $40 including postage and handling. Be one of the first to get copies of the Good Answer Guide by ordering in early February once school has returned.

The Western Australian Year 10 Economics and Business textbook from E & B Education titled Economic Performance and Living standards is now available.

The key topics are:

  • Consumers’ purchasing and financial decisions
  • Improving productivity
  • Economic goals and performance
  • Australia’s economic performance over time
  • Comparing economic performance across countries
  • Well-being
  • Ways that businesses respond to economic conditions
  • Ways that government responds to economic conditions.

To support teachers E&B Education have written a book that contains:
  • student reading that covers all the Year 10 content descriptions
  • 37 learning activities designed to develop students' HASS skills, and
  • reflection points at the end of each topic.

Economic Performance and Living standards is available for order now via the link below.

New Current Economic Conditions video

New Current Economic Conditions video

Following this month’s Statement on Monetary Policy, a video summarising Current Economic Conditions has just been released. RBA Economist Tomas Cokis takes students through the latest developments in the Australian economy. 

Vale Chris Stone

Vale Chris Stone

On the 7th January 2021, Chris Stone the elected President of the Economics Teachers’ Association of Western Australia (ETAWA) passed away suddenly. The Association extends its condolences to Chris’ family and friends. As a life member of the Association, Chris was a role model and highly respected Economics and Humanities and Social Sciences teacher. His contribution extended beyond the classroom as a curriculum and textbook writer, and through his work in assessment and moderation. Chris made a difference in education and his knowledge, wisdom and enthusiam for teaching economics will be greatly missed.

For 2021, the RBA have scheduled an extensive series of online talks throughout the academic year, via Zoom. There are two talk types to choose from:

Monetary Policy & Current Economic Conditions (aimed at Years 11 and 12) – An economist will share insights on how the RBA conducts monetary policy, and current conditions in the Australian economy. A recent graduate will also share insights on his or her career path and role, discussing the benefits of studying Economics. Introduction to Economics (aimed at Years 9 and 10) – An economist will provide an introduction to the economy, the role of the RBA, and the benefits of studying economics.
Talks from February to May 2021 have now been uploaded to the website. Teachers can register for any of the talks and will be sent a link nearer the time, which they will be able to share with their students.  
As with all the RBA’s resources, talks and events are free.  
Registrations can be made at:

Semester 1 and Semester 2, past Year 11 and 12 Examinations may be found in the ‘members resources’ section of the website. This is a great resource for students to access practice questions. Marking keys are also provided.

Year 10, 11 and 12 students would all benefit from reading and interpreting the latest graph/chart of consumer spending from illion, in partnership with economists at AlphaBeta. Tab 1 shows the initial decline in consumer spending and then the impact of the policy measures that have increased spending. Tab 2 shows the wide variation between spending categories. Andrew Charlton from AlphaBeta was interviewed on ABC TV in August 2020 about the impact of Victoria's Stage 4 lockdown on the flow of goods. Will a similar impact be felt following the NSW lockdown for Christmas?

Here are two more videos that the RBA has recently added to their website. Gross Domestic Product - Gigi Lovicu explains the concept of GDP. He covers the three main measures of GDP and what is not included in GDP. The section on what’s not included would be useful when Year 10 students are looking at measures of economic activity and wellbeing. The section about the three main measures and how they are used is interesting and probably best presented to Year 11 students in the macro economics unit 

The RBA has recently added more videos to their website. The following pair by Gian-piero (Gigi) Lovicu would be excellent to use in Year 10 Economics and Business when students start to look at graphs (also known as charts) that represent economic data for inflation, unemployment and economic growth.
Reading and Interpreting Charts
Gigi talks about the components of charts that are created from economic data and the things to consider when interpreting them. [Part 1, Part 2]

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