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Journal of the Economics and Business Educators New South Wales

2013 – Issue 2

PRESIDENT: Mr Joe Alvaro, Marist College North Shore

VICE PRESIDENTS: Ms Kate Dally, Birrong Girls High School Mr Stuart Jones, Inaburra School

TREASURER: Ms Bronwyn Hession, Board of Studies NSW and Business Educators Australasia Inc. (President)

COMPANY SECRETARY: Ms Pauline Sheppard, Australian Islamic College

DIRECTORS: Mr Andrew Athavle, William Carey Christian School

Ms Cheryl Brennan, Illawarra Christian School

Professor John Lodewijks, University of Western Sydney

Ms Rhonda Thompson, Catholic Education Office – Southern Region

EDITORS: Ms Kate Dally, Birrong Girls High School

Professor John Lodewijks, University of Western Sydney

DESKTOP PUBLISHING: Ms Jill Sillar, Professional Teachers’ Council NSW

PUBLISHED BY: Economics & Business Educators NSW ABN 29 002 677 750 ISSN 1488-3696 3B Smalls Road, Ryde NSW 2112 Telephone: (02) 9886 7786 Fax: (02) 9886 7673 Email: [email protected] Website: www.ebe.nsw.edu.au

“THE EBE JOURNAL” / “ECONOMICS” is indexed APAIS: Australian Public Affairs Information Service produced by the National Library of Australia in both online and CD-ROM format.Access to APAIS is now available via database subscription from: RMIT Publishing / INFORMIT –

PO Box 12058 A’Beckett Street, Melbourne 8006; Tel. (03) 9925 8100; http://www.rmitpublishing.com.au; email: [email protected].

The phone for APAIS information is (02) 625 1650; the phone for printed APAIS is (02) 625 1560.Information about APAIS is also available via the National Library website at: http//www.nla.gov.au/apais/index.htmlThe ISSN assigned to The EBE Journal is 1834-1780.The views expressed in these articles are not necessarily those of the editor or the association. All articles published are done so in good faith and without prejudice.All contributions are received in good faith by the editors as original contributions of authors, and to the knowledge of the editor there has been no breach of copyright by the publication of any articles, diagrams or figures in the Journal. If due to the failure of an author to correctly inform that his/her work is not an original work and there is a breach of copyright, the editors, having no prior knowledge, cannot accept responsibility.Any books recommended by any authors of articles and internet sites in the Journal are not the recommendation of the Economics & Business Educators NSW.

Economics and Business Educators NSW Board of Directors

[email protected]

www.ebe.nsw.edu.au

3The EBE Journal – Journal of the Economics and Business Educators NSW 2013 – Issue 2

JOURNAL OF THE ECONOMICS AND BUSINESS

EDUCATORS NEW SOUTH WALES

2013 – Issue 2

ContentsPresident’s Report – Joe Alvaro, Marist College North Shore 5

EBE NSW News 8

Economics and Business News Bites – Compiled by Joe Alvaro, Marist College North Shore 19

Legal News Bites – Compiled by Joe Alvaro, Marist College North Shore 23

International School Teacher Profile – Rowan Peterson, Norfolk Island Central School 26

Growth, Happiness and the Environment – Professor John Lodewijks, University of Western Sydney 29

Media Release: Commonwealth Bank Foundation celebrates outstanding teachers 33

Q&A with 2013 Commonwealth Bank Foundation Teaching Award winner, Nadine Saul 34

Q&A with 2013 Commonwealth Bank Foundation Teaching Award winner, Rebecca Rounsley 36

Business Management Decision-making Exercise – Louie Traikovski, Minaret College, Springvale Campus, Victoria 37

Does demand for cigarettes create supply, or does supply create demand? And what should we do about it? – Professor Suzan Burton, University of Western Sydney 38

Commerce Group Assessment Task for “Global Links” – Joe Alvaro, Marist College North Shore 42

Human Resources Business Studies Activity – Kate Dally, Birrong Girls High School 48

A call for articlesThere is always a need for articles for “The EBE Journal”.

Educators (teachers in schools, academics in universities etc.) are welcome to submit articles, including teaching and learning activities and assessment tasks.

Contributing to the journal is one way to demonstrate professional competence, accomplishment or leadership for the purposes of accreditation with the NSW Institute of Teachers.

It is also an effective way to engage in professional dialogue and sharing with other teachers.

All sources are acknowledged and copies of published articles can be attached to your C.V.

All articles and/or enquires should be directed to:

The EditorsEconomics and BusinessEducators NSW3B Smalls Road RYDE NSW 2112 Telephone: 02 9886 7786 Fax: 02 9886 7673Email: E [email protected]

Articles may be emailed with text double spaced and proof read.

Please ensure that all tables, diagrams and figures included with your paper are of a suitable quality for reproduction.

The Journal

4 The EBE Journal – Journal of the Economics and Business Educators NSW 2013 – Issue 2

Hots Shots Cold Cases (Profile on Mark Tedeschi – Crown Prosecuter, photographer and author) – Caroline Baum 49

The Australian government’s Direct Action policy for meeting carbon emission reduction targets – Dr Neil Perry, Research Lecturer in Corporate Social Responsibility and Sustainability, School of Business, University of Western Sydney 51

ASX Schools Sharemarket Game 2, 2013 winners: girls take top spots – Amanda Mior, ASX Schools Sharemarket Game Coordinator 57

Krugman on the GFC and Austerity – Professor John Lodewijks, University of Western Sydney 58

CPA Australia Plan Your Own Enterprise Competition 2012 National Division 1 Winner – Trip to Shanghai – Matthew Bennett, The Canberra College, ACT. 61

Are we moving towards a cashless society – or simply less cash? – Steve Worthington, Associate at Australian Centre for Financial Studies 66

Will your next phone be Fair Trade? – Robbie Fordyce and Luke van Ryn, The University of Melbourne 69

President’s Report to the 2013 Economics and Business Educators NSW Annual General Meeting (21 October 2013) 71

Economics and Business Educators NSW Financial Statements for the year ended 30 June 2013 80

EBE NSW Professional Development Event – “Teaching the Preliminary course (Year 11) in Business Studies, Economics or Legal Studies for the first time?” – 24 February 2014 99


President’s Reportby Joe Alvaro, Marist College North Shore

Welcome to the second and final edition of “The EBE Journal” for 2013. I hope the content provides you with useful professional reading and contributes to your professional development.

2013 EBE NSW Annual General MeetingThe EBE NSW AGM was held on 21 October 2013. The Board of Directors for 2013/2014 are listed at the front of the journal. We welcomed a new Board member at the Board of Directors Ordinary Meeting on 2 December 2013, with Cheryl Brennan’s nomination to become a Director accepted unanimously by the Board. Cheryl teaches at Illawarra Christian School and was the recipient of the Premier’s Macquarie Capital Economics and Business Studies Teacher Scholarship in 2012 (for more information visit her website at www.hscbusinessresources.com.au/coffeecasestudies). We currently have a diverse Board with educators from government, Catholic, Christian and Muslim schools, as well as the Board of Studies NSW and the tertiary sector. One of our directors, Bronwyn Hession, is also President of Business Educators Australasia Inc., our umbrella national subject association. I also sit on the Board of the Professional Teachers’ Council NSW. This diversity and these connections will enable the Board to better serve the interests of all members as we move forward. In this edition of “The EBE Journal” you will be able to read the “President’s Report to the 2013 EBE NSW AGM” and the “Financial Statements for the Year Ended 30th June 2013”. The association remains in a healthy financial position and I thank the Board and staff members,

Annette Davies and Alan Hearle, for all their work in enabling the association to have adequate financial resources to carry out its vision and goals for the current financial year. The Board meets twice every school term . Please email EBE NSW if you have any questions or suggestions that you would like the Board to consider at these meetings.

EBE NSW Professional Development EventsIn this edition of “The EBE Journal” we have reports on the following successful NSW Institute of Teachers endorsed PD events we have held this year:

• “Legal Update Conference” on 2 August 2013

• “Teaching Year 12 HSC Business Studies, Commerce and Legal Studies for the first time in Term 4, 2013/2014?” on 19 August 2013.

• “ EBE NSW Industry Visit for Teachers – Fairfax Printers Plant Tour” on 27 September 2013.

We are currently preparing our 2014 events calendar and this will be communicated to members very soon. Our first PD event for next year will focus on our foundation preliminary senior courses – “Teaching the Preliminary course ( Year 11) in Business Studies, Economics or Legal Studies for the first time?” . It will be held on 24 February 2013. For more information see the course flyer in this edition of “The EBE Journal”.

http://www.hscbusinessresources.com.au/coffeecasestudies

http://www.hscbusinessresources.com.au/coffeecasestudies


President’s report

National Conference 2014 in PerthThe Business Educators Australasia ( of which EBE NSW is a member) will hold its Biennial Conference in Perth, Western Australia next year on 2 and 3 October 2014. This is an opportunity to connect with colleagues from all over Australia and New Zealand to discuss the teaching of our subjects and plan a trip to a wonderful part of Australia.

2013 CPA Plan Your Own Enterprise Competition EBE NSW congratulates all the NSW and national winners of the 2013 CPA PYOE Competition. EBE NSW conducted a NSW awards ceremony on 10 October 2013 for the PYOE NSW winners, their parents and their teachers. More information can be found in “EBE NSW News” in this edition of “The EBE Journal”. Also in this edition we include Matthew Bennett’s (2012 CPA PYOE Competition national division 1 winner) report on his trip to Shanghai in China as a result of winning the competition. If you missed Mathew’s winning business plan, “Plug n’ Play” you can read it in “The EBE Journal” (Issue 2, 2012) together with the judges comments ( see the members section of the EBE NSW website for past editions of “The EBE Journal”). Details about the 2014 PYOE Competition will be communicated to members very soon.

2013 ASX Sharemarket Game 2EBE NSW congratulates Philippa Nolan from PLC Sydney who was the national winner in the 2013 ASX Sharmarket Game 2. For more information see the article about this competition in this edition of “The EBE Journal”. Be sure to register your students for the 2014 competition which begins on 13 March 2014. Teachers may want to use this article with their students next year.

2013 Commonwealth Bank Foundation Teaching AwardsEBE NSW congratulates all the winners of the 2013 Commonwealth Bank Foundation Teaching Awards and their efforts in developing the financial literacy skills of their students. We have interviewed two of the NSW winners in this edition of “The EBE Journal”.

Australian Curriculum, Assessment and Reporting Authority (ACARA) Australian Curriculum: Years 5 –10 Economics and Business and Australian Curriculum: Years 3 –10 Civics and CitizenshipBoth the final ACARA Australian Curriculum: Years 5 -10 Economics and Business and ACARA Australian Curriculum: Years 3 -10 Civics and Citizenship are due to be endorsed by the education ministers from each state and territory in December 2013. However at the time of writing this has not yet occurred. EBE NSW will continue to monitor developments in this area. If you missed the submissions to ACARA from EBE NSW on both the draft Australian Curriculum: Economics and Business and the draft Australian Curriculum: Civics and Citizenship, see the “The EBE Journal” (Issue 1, 2013) which is available on the members section of the EBE website. You can also listen and watch the two webinars EBE NSW conducted based on the Australian Curriculum: Economics and Business on the EBE NSW website.

EBE NSW International Teacher ProfileIn this edition of the journal we include another profile on an Australian teacher who has gone out of their comfort zone to teach in a school outside of Australia.


President’s report

Thankyou to EBE NSW member, Ms Rowan Peterson, from Norfolk Island Central School, who was interviewed for this edition of the journal.

2013 Board of Studies NSW HSC Business Studies, Economics and Legal Studies ExaminationsEBE NSW welcomes feedback from members about the 2013 Board of Studies NSW HSC Business Studies, Economics and Legal Studies examinations. What did you think? Any problems? Strengths? Please email feedback to [email protected]

Contributions to “The EBE Journal”All members are invited to submit an article for publication in “The EBE Journal” (please email us at [email protected]). Further information about submitting an article can be found in this edition of the journal.

Contributing to the journal is one way to demonstrate professional competence, accomplishment or leadership for the purposes of accreditation with the NSW Institute of Teachers. It is also an effective way to engage in professional dialogue and sharing with other teachers.

EBE NSW HelpdeskAs always EBE NSW Directors are available to members for advice and assistance ([email protected]) in relation to the teaching and learning of Business Studies, Commerce, Economics and Legal Studies.

All good wishes for a happy Christmas and a restful break.

Joe AlvaroPresident – Economics and Business Educators NSW

mailto:[email protected]


EBE NSW News“Legal Update Conference” held on 2 August 2013

The above NSW Institute of Teachers’ endorsed EBE NSW PD event enabled teachers to update their knowledge in relation to the legal issues in the Legal Studies and Commerce syllabuses by hearing from experts in the legal world. Speakers included:

– NSW Senior Crown Prosecutor Mark Tedeschi AM QC (Read the article “Hot Shots Cold Cases” in this edition of “The EBE Journal” for a profile on Mark Tedeschi)

– Children’s Magistrate Elizabeth Ellis

– Parliament of NSW Education Officer, Daniela Giorgi

– NSW Attorney General and Minister for Justice, The Hon. Greg Smith, SC MP

– Rule of Law Institute CEO, Kate Burns

– Manager of Offender Services and Programs at the South Coast Correctional Centre, Jean Dally

– Business Manager at the South Coast Correctional Centre, David Ward

Some feedback about this conference which was received by participants included:• “Fascinatingpresentationprovidedlotsof

foodforthoughtasaunitofpresentationinLegalStudies.”

• “Verynicepresentation.Greattogetaninsiderpracticalperspective+toputahumanfaceontheChildren’sCourt.”

• “Elizabethwascaptivatingandfullofgreatcasestoshare.Ivalueherstories+information,Ireallyenjoyedthissession.Theinfo.wasfantastic.”

• “Fantasticthisstrengthenedmyunderstandingfurther.”

• “Veryrelevanttothesyllabus.Veryhelpfulinunderstandingsomeofthekeyissuesin

youngoffenderswithreal–lifeexamples.”• “Excellentpostersforclassroomdisplay.”• “Iwilldefinitelyusethissiteforteaching

Commerce.Politicalinvolvement.”• “Greatideasforteaching,resources,and

excursionsrelevanttomakinginformationmoreaccessibletostudents.”

• “ExcellentresourcesandideaspresentedforCommerce.Iparticularlylikethepracticalactivities.”

• “Excellentpresenter–complexissuesexplainedwellandwithsophistication.Greatcasenotes.V.applicabletoPrelim.+yr.12HRsunits.”

• “Ihadnoknowledgeinthisarea,thispresentationwasgreat!Foodforthought–reeffectivenessofprisons!”

• “Great!Interesting!Lovethe“insideinformation”whichIdidn’tknowaboutAustraliangaols.Mostinfoonlineissecretandprivate.”

• “Ifoundthewholedayagreatlearningexperience,ofvaluableassistancetoLegalStudiesteaching.”

• “Thankyouforthefreeresources+handouts.Goodvariationoftopicspresentedtoday.”

• “Greatchoiceofpresenters–thankyouverymuch!PowerPointsworkedwell.Handoutswereusefulandcanbephotocopiedforstudents.”

• “Timingwasgreat.Choiceofpapers/presenterswas“spoton”.Agoodmixofbackgroundinformationandcurriculumrelevantresources.”

LegalUpdateConference


EBE NSW News

“Teaching Year 12 HSC Business Studies, Economics or Legal Studies for the first time ?” held on 19 August 2013The above NSW Institute of Teachers’ endorsed EBE NSW PD event was an outstanding success with Year 12 Business Studies, Economics and Legal Studies teachers coming together to hear from experienced subject experts and learn from each other. EBE NSW Director Andrew Athavle presented the Business Studies session, EBE NSW Vice – President Kate Dally presented the Economics session and EBE NSW President Joe Alvaro presented the Legal Studies session. Participants were

teachers beginning to teach the current Board of Studies NSW HSC Business Studies, Economics and Legal Studies courses. The event was also open to teachers who wanted a refresher course. Participants were able to hear about effective teaching and learning strategies designed to engage students, current developments in their subject area and assessment procedures and techniques, and receive some teaching and learning resources to take back to their classroom. Some feedback received included:• “Presenterwasexcellent,knewhisstuff.

Greatresources.Mademefeelmoreabletoteachthissubject&calmeraboutitaswell.”

TeachingYear12HSCBusinessStudies,EconomicsorLegalStudiesforthefirsttime?

EBENSWDirectorAndrewAthavlepresentingatthe“TeachingYear12HSCBusinessStudies,EconomicsorLegalStudiesforthefirsttime?”PDeventheldon19August2013


EBE NSW News

• “Excellent–I’velearntheaps&feelalotmoreconfident.”

• “ItwasgreattohearhowitisdonefromsomeonewhodoesthiseverydayandobviouslyknowshowtoteachBusinessStudiesreallywell.Alloftheexamples,suggestionsandcommonclassroompracticeswererelevant,usefulandthoughtprovoking.I’mverygladIattendedtoday.”

• “Thepresentersharedarangeofstrategiesandadvice.Veryextensiveanduseful.”

• “Thepresenterwaswonderful.Hehadsomuchknowledgethathehadalotofsuggestionsandresourcestohelpusprepare.Hisadvicewasquitehelpful.”

• “Verypracticalusefultips!!”• “Itisusefulpickingupnewideason

teachingmysubject.Alsogoodtogetresourcesonassessmenttasks.Usefultobeabletoaskquestions.”

• “Verygoodexposure,especiallylearningfromHSCexammarkers.”

• “Goodchancetonetworkwithothereducatorsfromotherschools.Goodrangeofresources.”

• “Excellentdiscussionofsyllabusexpectations,teachingactivities+resources.”

• “Resources+ideasarefantastic.IfeelreadytotackletheHSCcourse.Manythanks.”

• “Excellent,relevant,interesting.Thankyoufortheresources.”

• “Passionate,enthusiasticpresenter.OneofthebestPD’sIhaveeverattended.Slightlylongertimeframewouldhavebeengood.”

• “Fabulouscourse.”• “Greatresources–verygenerous.Great

ideas.”• “Clearandspecificlinksbetweentopicsin

syllabus+materialsdistributed.Resources+websitesgreatwaytocreatevariedT+Lstrategiesandkeepkidsmotivated.

• Goodmodelofnotetaking(youngoffendernotessummary).Verygenerouswithassessments/notesetc.

• “GreatresourcesthatwillbereallyusefulforteachingHSCLegalStudies.Veryhelpfultipsonhowtoengagestudents&helpthemtoachieve.”Thanks!”

EBENSWVicePresidentKateDallypresentingatthe“TeachingYear12HSCBusinessStudies,Economicsor

LegalStudiesforthefirsttime?”PDeventheldon19

EBENSWPresidentJoeAlvaropresentingatthe“TeachingYear12HSCBusinessStudies,EconomicsorLegalStudies

forthefirsttime?”PDeventheldon19August2013


EBE NSW News

EBE NSW Industry Visit to Fairfax Printers Plant at Chullora, NSW on 27 September 2013.A group of Business Studies and Commerce teachers participated in an EBE NSW industry visit to Fairfax Printers Plant at Chullora, NSW on 27 September 2103. Led by an expert tour guide, teachers were able to experience first-hand the production processes necessary to publish Fairfax’s flagship newspaper, The Sydney Morning Herald as well as The Australian Financial Review and The Sun-Herald during this NSW Institute of Teachers endorsed professional development course. Fairfax’s plant is one of the few production sites which opens its doors to the public and teachers were able to increase their understanding of a lot of the content in the Business Studies and Commerce syllabuses, enabling them to return to their classrooms with lesson

ideas based on this experiential professional development course. In addition, with major changes occurring at Fairfax at present, a substantial amount of knowledge was gained on the role of business in a changing business environment. EBE NSW expresses its thanks and appreciation to the Media News Team at Fairfax for working with EBE NSW on this PD course. In particular, we thank our two excellent tour guides, Ms Cindy Christopher and Mr Dave Overett, for sharing their solid knowledge of the print industry and their passion for Fairfax’s plant.

Some positive feedback was received about this PD course from participants, including:

• “Excellentpresentationbyguides–touchedonmanyaspectsofthesyllabuswithrelevantinformation.Greatexampleofoperationsandmanagementandchange.Verygoodvisuallyandwewerepermittedtotakephotographswhichisgreatforuseintheclassroom.”

• “Ithoroughlyenjoyedthetour.”

EBENSWIndustryVisittoFairfaxPrintersPlant




EBE NSW News

• “Fantasticday.Greattoofferthistoteachers.WelltimedbeforeHSCstartsupagain.”

• “Goodtogetsomeknowledgeaboutmanagingchangeinindustry.Wellrun–greattoseetheplant.”

• “ThisgavemeexcellentknowledgeforexamplesandacasestudyforteachingBusinessandCommerce.”

If you have suggestions for future EBE NSW industry visits, please email – [email protected].







EBE NSW News

2013 CPA Plan Your Own Enterprise Competition NSW Awards Ceremony – Held on Thursday 10 October 2013EBE NSW recognised the 2013 PYOE NSW winners at our NSW awards ceremony on 10 October 2013 at the Catholic Education Office – Southern Region Office at Revesby Heights, NSW, together with their teachers and parents. Our special guest was Michelle Cook, Senior Relationship Manager, CPA Australia. Congratulations to the following winners and their schools from NSW:

• Division 1 (Individual entry) – Ella Bricknell, Pacific Hills Christian School, NSW for her business plan, “Captured Memories”.

• Division 2 (Group entry) – Keertana Avalur, Shevon Lau, Dana Royle from MLC School Burwood, NSW for their business plan, “Pasithea”.

Prizes and certificates were awarded to these student winners and their schools.

EBE NSW has posted out the CPA Australia 2013 Plan Your Own Enterprise Competition Certificates of Participation from Mr John Cahill, President CPA Australia and Ms Bronwyn Hession, President Business

Educators Australasia to all teachers who entered their students in the competition. Students can use these certificates for their job portfolios. Please contact [email protected] if any certificates have not been received.

Thankyou to EBE NSW Director and PYOE NSW Competition Coordinator, Rhonda Thompson, for all her work with the competition this year, including the coordination of the NSW shortlisting and judging processes. EBE is grateful to Cheryl Brennan (EBE NSW Member), Kate Dally, (EBE NSW Vice-President), Stuart Jones (EBE NSW Vice-President), Anthony Matis (CPA

From left to right: Allison McCulloch (MLC School teacher), 2013 PYOE NSW Competition Division 2 winners, Michelle Cook (CPA Australia), Joe

Alvaro (EBE NSW President)

From left to right: Ella Bricknell (2013 PYOE NSW Competition Division 1 winner), Michelle Cook (CPA Australia), Joe Alvaro (EBE NSW President),

Mark Swainson (Ella’s Business Studies teacher)

2013 PYOE NSW Awards Ceremony




EBE NSW News

Australia) and Michael Hanrahan (Principal at Hanrahans Accounting Services) for their involvement in these processes. As usual, the administration work from the EBE NSW office staff, Annette Davies and Alan Hearle was invaluable. CPA Australia sponsors the PYOE Competition and EBE acknowledges its support of students and teachers through this competition.

Thankyou to all teachers who submitted their students’ entries for this year’s CPA PYOE Competition. The dates for next year’s competition will be communicated to members very soon. Members are encouraged to incorporate the competition into their Business Studies and Commerce teaching and learning programs.

2013CPAPYOENSWAwardsCeremony



2013CPAPYOENSWAwardsCeremony 2013CPAPYOENSWAwardsCeremony



EBE NSW News

2013 CPA Plan Your Own Enterprise Competition Australasian Awards Ceremony – Held on 16 October 2013

2013CPAPYOECompetitionNationalAwardsCeremony–fromlefttoright:AnthonyMatis(CPAAustralia),BronwynHession(Business

EducatorsAustralasiaPresident),EllaBricknell(2013PYOECompetitionNational Division1 winner),RobertThomason(CPAAustralia)

2013CPAPYOECompetitionNationalAwardsCeremony

EBE NSW was delighted to discover that at the Australasian judging and awards ceremony in Melbourne on 16 October 2013, Ella Bricknell, our NSW Division 1 winner, also ended up being the national winner of the competition. EBE NSW congratulates Ella on this significant achievement and her national award. Congratulations also to Jack Lowrie and Will Campbell from The Hutchins School, Tasmania who were the national Division 2 winners for their business plan, “Kart Park”.


EBE NSW News

Newspaperarticle-“HillsNews”5Nov.2013


EBE NSW News

EBE NSW recognised at 2013 Professional Teachers’ Council NSW Presentation Evening

EBE NSW was awarded a Certificate of Appreciation at the 2013 Professional Teachers’ Council NSW ( PTC NSW) Presentation Evening on 26 November 2013. Presented to the association by Board of Studies NSW President, Tom Alegounarias, the award was “in recognition of the association’s voluntary contribution during 2013 to quality education, the students of NSW and the teaching profession.”

The EBE NSW President, Joe Alvaro, was also recognized at the presentation evening with an Outstanding Professional Service Award. Presented to Joe Alvaro by Board of Studies NSW President Tom Alegounarias, the award citation stated:

“Joe Alvaro, in recognition of his strategic leadership of Economics and Business Educators NSW as President (2011 to Present), Director (2007 to present) and active member (1994 to present). Joe’s dedication and professional expertise as an experienced and skilful practitioner, and his infectious passion have led EBE NSW through a time of significant change. In particular, Joe’s vision and capacity for foreign strategic partnerships and alliances with key stakeholders including tertiary institutions and private and public sector organisations

deserves particular recognition for yielding strengthened progression learning opportunities for Economics and Business education teachers in NSW.

Joe is motivated by the importance he places on professional collegiality and shared wisdom. Under Joe’s leadership, EBE has extended its support of all teachers, but particularly those new to the profession. Joe is generous with both his time and expertise. You will find him stacking the dishwasher, reassuring an anxious teacher and then delivering a quality presentation. Leaders who are prepared to ‘roll up their sleeves’ are a rare breed. Joe Alvaro is one such leader”.

EBENSWPresident,JoeAlvaro(left)receiveshisOutstandingProfessionalServiceAwardfromPresidentoftheBoardofStudiesNSW,TomAlegounarias(right)


EBE NSW News

How popular is HSC Business Studies, HSC Economics and HSC Legal Studies in 2013?The Board of Studies NSW has released its 2013 Media Guide. It shows that HSC Business Studies is the third most popular course in NSW (not counting compulsory HSC English), after HSC Mathematics and HSC Biology, with 16,020 students enrolled in this course (an increase from 2012). HSC Legal Studies has also increased its enrolments compared to last year, with 10,023 students enrolled in this course (making it one of the top ten subjects studies in NSW). There has been a slight increase in students studying Economics compared to last year, with 5335 enrolled in the Economics course.

The number of students studying HSC Economics is concerning and EBE NSW would like to see more students learning the important subject matter in the Economics syllabus. We have begun some work on helping teachers promote the study of Economics and this has included discussions with some academics who teach

Economics in our universities. We hope this project will contribute to an increase in the number of students studying Economics. EBE NSW Director, Professor John Lodewijks, wrote an excellent article for The Australian on 8 July 2013 titled “The case for economics”. There is a link to this article on the EBE NSW website (click on “News”, then “Latest news”). EBE NSW also contributed to an article in “Business Spectator” in 2012 titled “Retuning Australia’s Economic Debate” which focused on the number of students choosing to study Economics. This article was reprinted in “The EBE Journal” (Issue 2, 2012) which is available in the members section of the EBE NSW website. If you have any ideas on how we can increase the number of students studying Economics please email [email protected].

In terms of gender, 51% of students who completed the HSC Business Studies course were males and 49% were females. For HSC Economics 63% of students were males, 37% were females. For the HSC Legal Studies course, 38% of students were male, 62% were female.



News Bites

Economics and Business News Bites

Compiled by Joe Alvaro, Marist College North Shore

Australia’s unemployment rate at 5.7% – 7 November 2013The jobless rate in Australia is currently 5.7%. There has been a big fall in full-time jobs during October 2013 and an increase in part-time positions. Youth unemployment remains high.

*Syllabuslinks:– Board of Studies Commerce Syllabus

– Core Part 2.2 – Employment Issues – “Unemployment”

– Board of Studies Economics Preliminary Syllabus – Topic 4 – Labour Markets

*Reference:www.abc.net.au/news/2013-11-07/unemployment-up/5075838 – “Australia’s unemployment rate at 5.7 per cent as job creation remains sluggish”, 7 November 2013

German luxury menswear brand “Hugo Boss” dumps Myer“Hugo Boss” (HB) will no longer be sold in Myer stores with David Jones (DJ) remaining as the seller of Hugo Boss around Australia. Matthew Keighran HB Australia and NZ managing director said that “based on our trading performance to date we believe that our product and target demographic are best aligned to the David Jones brand portfolio and customer base”. This is part a DJ strategy to dominate the market for corporate suits (other brands available include Zegna, Canali, Armani and Paul Smith).*Syllabuslinks:– Board of Studies Commerce Syllabus –

Option 2 - “Promoting and selling”– Board of Studies Business Studies

Preliminary Syllabus – Topic 2 – “Business Management”

– Board of Studies Business Studies HSC Syllabus – Topic 2 – Marketing

*Reference:The Sydney Morning Herald – “Myer loses Hugo Boss to DJs, where brand feels better suited” by Georgina Safe and Donna Demaio, 31 Oct. 2013.

Crown continues to expand into AsiaCrown’s executive chairman, James Packer, has told a shareholder’s meeting that “Crown’s large and ongoing investment in tourism assets is testament to the fact we have a strong belief in the incredible power of the rising Chinese and Asian middle class”. Crown’s investment in its Macau joint venture, Melco Crown, cost $US600 million. It is now worth $US6.2 billion. Planned projects include a $US400 million casino resort in Sri Lanka and Sydney’s $1 billion hotel-casino.

*Syllabuslinks:– Board of Studies Commerce Syllabus –

Option 4- “ Global Links”– Board of Studies Business Studies HSC

Syllabus – Global business parts of syllabus.

– Board of Studies Economics HSC Syllabus – Topic 1 – The Global Economy

*Reference:The Sydney Morning Herald – “Packer keeps the faith with gamble on Asia”, by Colin Kruger and Peter Cai, 31 Oct. 2013

http://www.abc.net.au/news/2013-11-07/unemployment-up/5075838

http://www.abc.net.au/news/2013-11-07/unemployment-up/5075838


News Bites

Australia’s last refrigerator manufacturing plant to close Australia’s last refrigerator manufacturing plant will close down after Swedish whitegoods manufacturer Electrolux decided to close the plant in 2016. Electrolux says it can manufacturer refrigerators more cheaply in other countries in Asia and Eastern Europe. This will have negative impacts on the economy of Orange in NSW where the plant is located. NSW MP for Orange, Andrew Gee, said that “it comes down to the fact that our market here is small and Electrolux can make greater profits in Thailand, where labour is $2.50 per hour compared to $25 to $30 in Australia”.


Option 4- “Global Links”

– Board of Studies Business Studies HSC Syllabus – Topic 1 – “Operations”

– Board of Studies Economics HSC Syllabus – Topic 1 – The Global Economy

*Reference: http://www.smh.com.au/business/electrolux-to-shut-last-local-fridge-plant-20131025-2w6g7.html – “Electrolux to shut down last local fridge plant” by Anna Patty - 25 Oct. 2013

Samsung number 1The worldwide smartphone market saw record sales in the quarter. The South Korean Samsung company is leading with 31.4% market share. Apple’s market share has decreased to 13.1%. China’s Huawei moved into third place with a market share of 4.8%, just ahead of fellow Chinese firm Lenovo (4.7% market share). South Korea’s LG has 4.6% market share.


Option 2 - Promoting and selling


*Reference:http://www.news.com.au/business/companies/samsung-extends-lead-over-apple/story-fnda1bsz-1226749434608 –“Samsung extends lead over Apple” – 30 October 2013

BlackBerry losing market shareThe smartphone industry is a rapidly changing one. BlackBerry may well be heading for the Business Cemetery as rivals Apple and Samsung take the lead. Two of the six phones the company offers will be discontinued. In September 2013 shares in the company were worth $US8.73 (in 2008 shares were worth $US138).


Option 2 - Promoting and selling


*Reference:“Suitors circle BlackBerry as losses blow out” published in The Sydney Morning Herald on 23 September 2013.

Net profit for Telstra increasesTelstra has reported that its net profit after tax increased by 12.9 per cent or $441 million to $3,865 million for the 12 months to 30 June 2013.

*Syllabuslinks:

– Board of Studies NSW Commerce Syllabus – Option 11 – Running a Business

– Board of Studies NSW Business Studies HSC Syllabus – Topic 3 – Finance

*Reference:LettertoTelstrashareholdersfromTelstraChairmanandTelstraCEO,dated8August2013.

http://www.smh.com.au/business/electrolux-to-shut-last-local-fridge-plant-20131025-2w6g7.html

http://www.smh.com.au/business/electrolux-to-shut-last-local-fridge-plant-20131025-2w6g7.html

http://www.news.com.au/business/companies/samsung-extends-lead-over-apple/story-fnda1bsz-1226749434608




News Bites

Are in-store pharmacies next for Woolworths and Coles?Woolworths and Coles already own nearly 70% of the grocery market in Australia. Some people are predicting that Woolworths and Coles could soon expand into in-store pharmacies, unchartered territory at present. Under Australian law, pharmacies must be owned by pharmacists and supermarkets are not allowed to operate a chemist (this is not the case overseas where businesses like Walmart operate in-store chemists). These laws will be reviewed in 2015. Coles/Westfarmers already has businesses in many areas including retail (e.g. Target,Kmart, Officeworks), home improvement (Bunnings) and liquor (e.g. First Choice Liquor, Liquorland, Vintage Cellars). Likewise Woolworths has moved into areas like retail (e.g. Big W), home improvement (e.g. Masters Home Improvement) and liquor (e.g. Dan Murphys, BWS, Cellarmasters)


Option 2 - Promoting and selling– Board of Studies Business Studies HSC

Syllabus – Topic 2 – Marketing

*Reference:“Pharmacies next target of big two, say analysts” by Sarah Whyte, published in The Sydney Morning Herald on 28-29 September 2013.

David Jones changes its pricing strategyIn an interview with The Sydney Morning Herald, David Jones CEO Paul Zahra has said that increasing sales by using the discount method of pricing is something the business cannot afford. Instead “cutting consumers addiction to almost continuous sales events” is a goal for the business. David Jones is focusing more on a “relatively high-cost model”. Paul Zahra

also said that international suppliers do not approve of their brands undergoing “chronic discounting”.

*Syllabuslinks:

– Board of Studies Commerce Syllabus – Option 2 - Promoting and selling

– Board of Studies Business Studies HSC Syllabus – Topic 2 – Marketing (“price and quality interaction”)

*Reference: “Riding the retail revolution” by Elizabeth Knight, published in The Sydney Morning Herald on 28-29 September 2013.

Coca–Cola Amatil buys Fiji’s Vonu Pure Lager beerCoca–Cola Amatil has paid $NZ5 million ($4.4 million) for the intellectual property assets, trademarks and brands of Fiji’s Vonu Pure Lager beer, with the aim of exporting the beer to other countries. The product’s slogan is “pure Fijian rain water turned into beer” and CC Amatil hopes to use this aspect of the product to create a competitive edge for the product, emphasising that it does not use preservatives.

*Syllabuslinks:

– Board of Studies Commerce Syllabus – Option 2 - Promoting and selling


*Reference: “Coca – Cola backs Fiji craft beer” by Eli Greenblat, published in The Sydney Morning Herald on 16 September 2013.

Who is exporting and importing Australia’s wine?South Australia’s Barossa region is Australia’s top exporter of wine, sending


News Bites

$A112,558,798 worth of wine overseas during 2012/2013. China is the top importer of Australian wine, buying $A68,960,939 worth of wine from Australia during 2012/2013.

*Syllabuslinks:– Board of Studies NSW Commerce

Syllabus – Option 4 – Global Links– Board of Studies NSW Economics HSC

Syllabus – Topic 1 – The Global Economy

*Reference: “Wine no longer enough, buyers want the backstory”, by Esther Han, published in The Sun-Herald on 15 September 2013.

Eiji Toyoda diesEiji Toyoda, aged 100, died on 17 September 2013. He was the first cousin of the founder of the Toyota Company. As head of manufacturing, president, chairman and senior advisor he is seen as being very influential in making Toyota a global mass – market competitor and a top performer in terms of manufacturing efficiency (low wastage, high output). He was instrumental in Toyota entering the luxury car market with the Lexus marque vehicle, to compete with Mercedes and BMW. In 2012, Toyota was the world’s biggest car manufacturer. In Australia, Toyota was the top-selling marque for September, 2013 with 17,492 sales. The company’s management strategies are termed the “Toyota Way” and include just-in-time stock control and

a focus on human resources aiming for “continuous improvement”.

*Syllabuslink:– Board of Studies NSW Business Studies

Syllabus – HSC Operations topic – “Operations strategies”

*References:- “Eiji Toyoda 1913-2013 –Toyota chief steered an ailing business to global dominance” published in The Sydney Morning Herald on 26 September 2013. “Car sales on track for record year” by Sam Hall, published in The Sydney Morning Herald on 4 October 2013.

Who is Hollywood’s highest paying actress?

Forbes magazine’s 2013 list of Hollywood’s highest earning actresses has revealed that Angelina Jolie earned $US33 million over the last financial year, giving her the no.1 ranking in the list. Angelina Jolie earned a reported $US 10 million from being the face of high-end fashion house Louis Vuitton. No.2 on the list was Jennifer Lawrence ($US26 million) and No.3 was Kristen Stewart ($US 22 million).

*Syllabuslink:– Board of Studies NSW Commerce

Syllabus – Core Part 1.2 – Personal Finance – “Earning an income”

– Board of Studies NSW Business Studies HSC Syllabus – Topic 2 – Marketing

*Reference:The Sydney Morning Herald – “Who missed the cut on Hollywood’s” – 31 July 2013


Legal News BitesCompiled by Joe Alvaro,

Marist College North Shore

2013 Graffiti Removal DayVolunteers have participated in the NSW Government 2013 Graffiti Removal Day, with graffiti being wiped out at more than 200 sites in NSW. Graffiti costs NSW about $100 million a year. Premier Barry O’Farrell said that “rapid removal denies vandals the notoriety they crave and helps prevent repeat attacks in the same locations”. The law requires juvenile graffiti vandals to appear before court for a graffiti offence and give courts the power to:

• Extend the time graffiti offenders spend on learner or provisional licenses;

• Limit the number of demerit points they are able to accrue over a specific period, and;

• Require the cleaning up of graffiti to be a condition of any court imposed Community Service Order on graffiti offenders.

There is also a Graffiti Hotline for the public to report graffiti – 1800 707 125.

*Syllabuslink:– Board of Studies NSW Commerce

Syllabus – Core Part 2 – Law and Society, Option 8 - “Law in Action”

– Board of Studies NSW Legal Studies Preliminary Syllabus – Core Part 1– The Legal System

– Board of Studies NSW Legal Studies HSC Syllabus – Core Part 1 – Crime

*Reference:Media Release, Barry O’Farrell MP Premier of NSW and Minister for Western Sydney, “Graffiti Removal Day spruces up the state”, 20 Oct. 2013

Making false allegations for Apprehended Personal Violence Orders (APVOs) becomes a crimeMaking false allegations in order to obtain an APVO against a neighbour, co-worker, or stranger will become a criminal offence. “This move is designed to protect law-abiding citizens from false and vexatious APVO applications,” Attorney General Greg Smith SC said. Penalties include a fine of up to $1100 or up to 12 months in prison. APVOs differ from Domestic Violence orders and can only be used when the victim is not in a “domestic relationship” with the alleged perpetrator. The proposed changes will amend the Crimes (Domestic and Personal Violence) Act. The amendments will also require magistrates to refer APVO matters to mediation unless there are good reasons not to.

*Syllabuslink:

– Board of Studies NSW Commerce Syllabus – Core Part 2 – Law and Society, Option 8 – Law in Action

– Board of Studies NSW Legal Studies Preliminary Syllabus – Core Part 1– The Legal System

– Board of Studies NSW Legal Studies HSC Syllabus – Option – Family

*Reference:Media Release, Greg Smith SC MP Attorney General, Minister for Justice, “Making false allegations for APVOs becomes a crime”, 23 October 2013


Better protection for sexual assault victimsVictims are already given protection in NSW at a trial involving a person accused of committing a sexual offence against them. At present they can give evidence via closed circuit television or behind a screen at a trial. But under current laws, they may not always be entitled to such protections when giving evidence at a separate trial involving the same accused person, but a different victim. The government will amend the law so that sexual offence witnesses would be able to testify from a private location at these trials, regardless of what type of evidence they were required to give.

*Syllabuslink:

– Board of Studies NSW Legal Studies HSC Syllabus – Option – Crime

*Reference:Media Release, Greg Smith SC MP Attorney General, Minister for Justice, “Better protection for sexual assault witnesses”, 30 October 2013.

Increased police powers in NSWPolice in NSW will not need a warrant to detain and search a person for guns if they are the subject of a firearm ban. The new laws will also allow police to search for guns without a warrant in criminal hang outs (“disorderly houses”). There will also be an increase in the penalty from 10 to 14 years in jail for the possession and/or supply of a firearm or pistol for a person who is subject to a firearm ban. Premier of NSW Barry O’Farrell said “Criminals who carry weapons illegally need to know police will be able to stop and search for them in their cars, in their homes and in their workplace - there won’t be any place for them to hide”.

News Bites

*Syllabuslinks:

– Board of Studies NSW Legal Studies Syllabus – HSC Crime topic – “Police powers”, “Use of warrants”.

*Reference: Media Release from Premier of NSW, Barry O’Farrell, “Tough new search powers for police to target criminal hang outs and illegal firearm possession”, 15 September 2013.

NSW Government dealing with illicit phone use in prisonsThe use of mobile phones in prisons poses a threat to the security of prisons and also to the community as they can be used by prisoners to plan crimes from within the prison walls. Possession of mobile phones, chargers and SIM cards in NSW prisons is a criminal offence. In a nine month trial, phone jamming technology has been installed at Lithgow Correctional Centre (a maximum security prison), which will see antennas jamming the channels that would normally transmit mobile phone signals. Corrective Services NSW Commissioner Peter Severin said “we believe this jamming technology is the ultimate answer because even if an inmate does obtain a mobile phone, it will be worthless because it won’t work.” Other strategies to combat mobile phones in prisons include random and targeted searches of prison visitors and inmates, including the use of mobile phone sniffer dogs.

*Syllabuslink:– Board of Studies NSW Legal Studies Syllabus

– HSC Crime topic – “Post-sentencing considerations”

*Reference:Media Release from NSW Attorney General and Minister for Justice, Greg Smith SC MP, “Jamming trial to shut down contraband prison schemes”, 24 September 2013


News Bites

Justice for adopted childrenLaws will be introduced into NSW Parliament which will enable NSW parents who have adopted children overseas to obtain NSW birth certificates. This will create equality (an aspect of justice), giving these children the same rights as children adopted in NSW. Currently children adopted from overseas have to use adoption documents from the country they were born in. Attorney General, Greg Smith SC, said “this is a significant reform, as many overseas adoption documents contain derogatory and stigmatising language. For example, many children adopted in China are given a ‘certificate of abandonment’ that states that their parents are ‘unknown’. No child in NSW should have to carry around a certificate that reminds them that they were abandoned.” The proposed new laws will recognise individual rights of privacy and non-discrimination, as the NSW birth certificate will not state whether the child’s parents are biological or adoptive.

*Syllabuslink:

– Board of Studies NSW Legal Studies Syllabus – HSC Family Option – “Adoption”.

*Reference:Media Release from NSW Attorney General and Minister for Justice, Greg Smith SC MP and Minister for Family and Community Services, Pru Goward MP,” Adopted children to win identity rights”, 29 September 2013.

NSW Government appoints the first Commissioner of Victims RightsMs Mandy Young has been appointed the first Commissioner of Victims Rights. The role involves giving attention to the rights of victims. Ms Young will also chair the Victims Advisory Board which advises the

Attorney General on policies and practices and promotes law reform to meet the needs of victims.

*Syllabuslink:– Board of Studies NSW Legal Studies

Syllabus – HSC Crime topic – “The extent to which the law balances the rights of victims, offenders and society” (Theme and Challenge).

*Reference:Media Release from NSW Attorney General and Minister for Justice, Greg Smith SC MP, “New Commissioner of Victims Rights Appointed” 12 June, 2013.

Crime prevention – Tamper resistant number platesOn average, a number plate is stolen from one in 400 vehicles in Sydney each year. NSW Police are running a campaign which will see tamper resistant number plates installed in vehicles at a range of locations. Reducing number plate theft can help reduce other crimes. Attorney General and Minister for Justice Greg Smith said “stolen number plates are often reattached to vehicles used in petrol theft, robberies and toll evasion, so if criminals are unable to access stolen plates they may think twice about committing these crimes”.

*Syllabuslink:

– Board of Studies NSW Legal Studies Syllabus – HSC Crime topic – “Crime prevention”.

*Reference:Media Release from NSW Attorney General and Minister for Justice, Greg Smith SC MP and Minister for Police and Emergency Services Michael Gallacher MLC, “NSW turns the screws on number plate thieves” 15 June 2013.


Watawieh yorlye?

(Norfolk Island has its own language that was brought over by the Pitcairn Islanders. It evolved from 18th century English and Tahitian. It is recognised as a language by the United Nations and is taught at Norfolk Island Central School as part of the Languages Other Than English syllabus.)

1. What are you doing in Norfolk Island?

TeachingatNorfolkIslandCentralSchool

2. Where exactly is Norfolk Island? What is the population of Norfolk Island?

NorfolkIslandisat29°S168°E,approximately1600kmeastofByronBay.Thepopulationisapproximately1700.

3. How did you find yourself in this job?

ThejobwasadvertisedintheoldgazetteandafriendofminenoticeditandsaidIshouldapply.Ididn’teverreallyexpecttogetitbutthoughtitwouldbeabitofanadventureforthreeyears.13yearslaterandit’sstillabitofanadventure!!

4. What were you doing before you found yourself teaching at Norfolk Island Central School?

IwastheCareersAdviseratMelvilleHighSchool,KempseyandlivingatCrescentHeadonthemidnorthcoastofNSW.

5. What were your first impressions of Norfolk Island?

ItfeltlikeI’dsteppedbackintimeafewdecades.Itwas(andis)averysafeenvironment.Housesaren’tlocked,keysare

International School Teacher Profile

NAME: Rowan PetersonLOCATION: Norfolk Island SCHOOL: Norfolk Island Central School

leftincars(otherwiseyoucanloseyourkeys!),thereisnograffitiandpeoplesmilealot.

6. What subjects do you teach at the school? Do you teach any Board of Studies NSW courses?

IteachBusinessStudies,GeographyandWorkStudies.

TheyareallBoardofStudiesNSWcourses. WeareaNSW off-shoreschool,fundedbytheNorfolkIslandgovernment. WebuyapackagefromNSWwhichincludesNSWteachers,NSWsyllabusesandNSWexams.

IamtheCareersAdviser,theVocEdCoordinatorandtheDistanceEducationCoordinator.

7. What are some challenges you have as you teach these subjects in Norfolk Island?

BeingtheonlySocialScienceteacherposersmanychallenges.Justnotbeingabletochattosomeoneinthestaffroomaboutassessmenttaskdesignspecificallyrelatedtoyoursubjectareaormaybesometeachingstrategiesforacertaintopicareprobablythebiggest.Beingsolelyresponsibleforallprogrammingand


Teacher profile

assessmenttaskdesignforyourteachingsubjectscanalsohaveitschallenges.

8. How long has Norfolk Island Central School been operating? Who runs the school? How long have you been teaching there?

OneoftheearliestdecisionsfollowingthearrivalofthePitcairnIslanderson6thJune1856wastheestablishmentofaschoolandschoolbeganintheNewMilitaryBarrackson14thJuly1856,attendancewascompulsory.(SchoolhadbeencompulsoryonPitcairnIslandsince1835.)ThiswastheearliestlegislationofitskindintheBritishEmpire.Itwasn’tuntil1880thatschoolbecamecompulsoryinNSW.

TheschoolisrunbytheAdministrationofNorfolkIsland.NorfolkbuysaneducationpackagefromNSWwhichincludesthesyllabi,examsandteachers.Teachersare,atthisstage,ona3yearcontractwiththeoptionofapplyingforafurther2yearextension.ThereisallowanceintheMemorandumofUnderstandingwiththeNSWDEC&theNILegislativeAssemblyfor2executiveand5teachingpositionstobecore,orextendedtenure,positions.Staffwhoholdthesehavetogothroughaninterviewprocessevery3yearstomaintaintheirpositions.Tobecomea‘core’teacheryouneedtoapplytotheNorfolkIslandMinisterforEducationandusuallyhavetohaveafairlystrongconnectiontotheIsland.

Icamefor3yearsandhavenowbeenherefor13.IholdoneofthecorepositionsandhadbeenhereacoupleofyearsbeforeIdevelopedmy‘fairlystrongconnection’withtheIslandanddecidedIwantedtoremainherelonger.

9. Are all teachers at the school Australian?

AllteachersareemployedbytheNSWDEC.

10. How many students are enrolled at the school? What are the students like who attend the school?

Thereare301studentscurrentlyenrolledK–12with137,7–12(16inYr11,24inYr12).

StudentsarelikekidsanywhereIthink.Theycanbetryingattimesbutforthemostparttheyarefantastic.Wereallydon’thavedisciplineproblems,certainlynottotheextentoflargerschools.Studentsareverylaidbackonthewholeanddon’tstresstoomuchoverthingslikeassessmenttasksandexams–thatmeansthatweasteachersstressmore!ItishardforthemtocomprehendthattheyarecompetingagainstseventyoddthousandstudentsattheHSC.Maybethat’swhytheyusuallyachievequitegoodresults,theyarerelaxed!

Likemostcountrytowns,nearlyallourstudentsleavetheislandforworkand/orstudywhentheyfinishschool,somereturningwhentheyhavefamilies.Sothereisabigdropinthepopulationbetweentheagesofabout18and35.

11. Could you give us an update with regards to economy of Norfolk Island ?

TheNorfolkeconomyisquitedepressedatthemomentwithaslumpintourismthathasbeengoingonforquitesometime.Alargenumberoffamiliesandmenhavelefttolookforworkonthemainland,inparticularintheminingsector.Thishasthenimpactedonallareasoftheeconomywithfewerpeopleandlessmoneyflowingaround.

TheNorfolkIslandgovernmentandtheCommonwealthgovernmenthavebeennegotiatingforanumberofyearsnowabouthowtheCommonwealthmaybeabletobeofsomeassistance.ThiswouldinvolvebringingNorfolkIslandundertheAustraliantaxationumbrellaandbecomingmoreapartofAustralia.AtthemomentNorfolkIslandisaself-governing,externalterritoryofAustraliaandisnoteligibleformanyCommonwealthgrantsorservices.(Atthemomentwedon’tpayAustralianincometaxortheAustralianGST,NorfolkdoeshaveitsownGSTof12%


-noexemptions).WiththedownturnintheeconomytheAustraliangovernmenthassteppedin,incertainareas,withfinancialassistance–butIthinkitcomesatthecostofNorfolk’sindependence.

12. What’s happening in the business world there in Norfolk Island at the moment?

Business,liketheeconomyingeneral,isfairlydepressed.NorfolkIsland’seconomyisbasedaroundtourism,sowithfewertouriststhosebusinesseshavealowerturnover.Likewise,theretailsectorhasbeenhitbyfewertouristsandresidentsbutalsotheimpactofonlineshoppinghastakenitstollontheretailsector.ThereareanumberofpeoplewhoarelookingatdifferentthingsthatNorfolkmaybeabletodoandhaveacompetitiveadvantagewith,butatthisstage,muchofthatisstillinthepipeline.

13. What advice do you have for Business Studies, Commerce, Economics and Legal Studies teachers wanting to teach in Norfolk Island?

I’mhereforanother3years(atthisstage),sofirst–waitformetogoandthenthereisapositionandIwouldsayhaveago.Itisagreatplacetoliveandteach.Itisveryisolated,butmostofthetimeyoudon’t

reallynoticeit.Somepeopletakealittletimetoadjustandsomeneverdo,mosttaketoitlikeaducktowater.Icameoverherewithhighschoolagedchildrenandtherewerethenormaladjustmentsofchangingschoolsthatadolescentsgothrough,butitwasOK.Theschoolisverygoodandwiththeinternet,resourcesareeasiertoobtain.

14. Has your patience ever been tested?

Probably!Theinternetcanbeveryslowandsometimesnonexistent!Whentheschoolservergoesdownitcanbeveryfrustratingaswecometobemoreandmoredependentontechnology.Iguessthosearethenormaltechnologicalproblemseveryonefacesfromtimetotime.TheotherthingthatcantestyourpatiencearetheemptyshelvesatFoodies(thelocalsupermarket)whentheboatisabouttoarriveorlatebyafewweeks.Youdogetusedtoshoppingwithoutalistandjusttakingwhatyoucanget!Fruitandvegesareallseasonal,whichisnotreallyfrustrating–morejustplaindelicious!

15. What do you like most about living and working in Norfolk Island?

Apartfrommypartner??

Living–cleanfreshair,freshfood,lotsofsport,nicepeople,beautifulscenery,lotsofhistory(afewghoststoo).

Working–wellIthinkthatteachingisthebestjobintheworld,IhaveloveditwhereeverIhavebeenteaching,butonNorfolkIlive1kmfromschool,thestudentsaregreat,theschoolenvironmentisbeautiful,ItakeaGeographyexcursionouttoPhillipIslandeveryyear(6kmsouthofNorfolk,partoftheNationalPark),thecommunityarefantastictoworkwithforcasestudiesinBusinessStudiesandGeography,assistingwiththeCareersMarketandworkexperienceplacements.Icouldgoonandon.

RowanPetersonoutsideherofficewithPhillipIslandinthebackground.

Teacher profile


IntroductionIs growth sustainable and does it improve the quality of our lives? Is limitless growth an illusion and does endless material gain promote well-being? Are our needs and wants unlimited? Or are our real needs few, finite, and rather easily met? What are our objectives, as individuals or as a society – material wealth, leisure, solid relationships, good health and education opportunities, secure retirement, happiness, a sustainable environment, and a fair wealth distribution? How can our Ecological footprint – the resources, energy and space needed to provide our products and absorb our waste – be reduced? Instead of using Gross Domestic Product, Bhutan uses an ‘Gross National Happiness’ index incorporating psychological well-being, physical health, work-life balance, community vitality and social connection, education, cultural preservation and diversity, sustainability, good governance and material well-being. Should other countries do the same?

These are the sort of questions increasingly being asked and in this short paper we address some of these issues through examining two books on the subject. The first is by Herman Daly and Joshua Farley (2010) titled EcologicalEconomics. Environmental economics and natural resource economics are standard courses in economics. Ecological economics is a bit different as it incorporates a lot of material from ecology. There is much standard economics in this book. Most economists would be comfortable with perhaps three quarters of the book. Indeed, the authors note that ‘we accept more of traditional

Growth, Happiness and the Environment

John Lodewijks, University of Western Sydney

economics than we reject’. However, where it departs from accepted practice and gets controversial is the polemic against standard economics interpreted as market fundamentalism and the strong redistributionist view they hold with respect to global wealth and income distributions. They present ethical and moral arguments for redistribution nationally and globally. They advocate a great role for governments in producing social and community goods rather than individuals engaging in conspicuous consumption. There is also considerable criticism of globalization for generating greater global inequality and leading to global output exceeding ecological barriers.

Daly and Farley most stark departure from standard economics is the challenge they present to the fundamental goal of economic growth (expansion of our economy and increases in national income). They want to replace the objective of promoting economic growth with achieving ‘optimal scale’ (interpreted as an output level that is environmentally sustainable). They go further and advocate zero growth of the economy (‘a steady state economy’) as they believe we have exceeded the capacity of the ecosystem to support the insatiable demands we make on natural resources – energy, water, raw materials, land and waste products. We are close to resource exhaustion and the waste absorption capacity of the planet, they claim.

The second book by John De Graaf and David K. Batker (2011) is dedicated to


Herman Daly and covers many of the themes from the earlier book. The authors lament that “we have degraded the world’s fisheries and soils, poisoned its waters, and changed its climate, while driving countless other species to extinction”. Chapter 9 of the book titled “The Longest Run – Sustainability” notes that we face rising temperatures and adverse weather conditions, with one quarter of the fisheries overfished, along with extensive deforestation, oil and fresh water shortages, while chemicals damage the ozone layer causing higher skin cancer rates. The authors also document a massive shift in wealth from the middle class to the richest Americans so that median incomes actually fell over the last decade. They note that a rising tide of GDP was supposed to lift all boats; it has instead floated the yachts and swamped the rowboats. A long list of income and wealth disparities is presented as evidence. The top 20% of Americans own 75 times as much wealth as the bottom 20%. The top 1% own 4400 times as much wealth per person as the bottom 40%. In 2005 the top 20% earned 47% of the income and owned 84% of its wealth. The richest 1% of Americans earned more income in 2008 than the bottom 50% of Americans all put together. The Gini coefficient of income inequality has increased from 0.39 to 0.45 since 1980. It is in the high 0.2s and low 0.3s in Europe, for example in Sweden it is 0.23.

The main focus of the De Graaf and Batker book is ‘GDP fetishism’ and this is spelled out in Chapter 1 titled – The Grossest Domestic Product. They quote Simon Kuznets, the pioneer of national income accounting, saying that ‘the welfare of a nation can scarcely be inferred from a measurement of national income’ and a Bobby Kennedy speech stating that ‘it measures everything in short except that which makes life worthwhile’ – GDP includes the costs of


crime prevention, pollution clean-ups, health damage and addiction, family breakdown, congestion costs, bankruptcy proceedings (as they all involve an expenditure of money) but excludes our natural environment, social connections, volunteering and housework (because they are not market transactions). The authors consider alternative measures such as the Genuine Progress Indicator and the finding of the Stiglitz/Sen Commission on the Measurement of Economic Performance and Social Progress.

Most of our time is spent on economic activity – working, consuming, purchasing, borrowing, selling, producing – that is producing income and spending. Yet fundamental human needs relate to broader considerations, after subsistence requirements are satisfied, such as affection, respect, protection, participation, leisure, identity and belonging, and personal freedom. In Chapter 2 on ‘The Pursuit of Happiness’ the authors suggest that we need a society that delivers the greatest good, for the greatest number, over the longest run and that involves social justice, sustainability and quality of life considerations. Take the issue of work-life balance. Americans want more time for friends and family yet their working hours have increased, not fallen, and both parents now work. In contrast, Europeans work 15-20% less hours than the Americans and retire earlier with the Netherlands, Norway and Germany having the shortest working hours in the world. Only 14% of Americans took a two-week vacation in 2007. The median vacation is one week and even then they are often connected to Blackberries.

Americans often stay in undesirable jobs to maintain health care coverage and working longer hours means they have less time to make healthy lifestyle choices. Chapter 4 is



called ‘Unhealthy at any cost’ and notes that while other developed countries spend half that the US does on health, they can afford universal health insurance while the US has poorer health outcomes. Surprisingly, half of American bankruptcies are due to unpaid medical bills and 75% of those people have insurance. The escalating costs of health care appear to be result of the use of expensive curative treatment rather than a focus on prevention. The authors recommend laws reducing work time and overwork, that leads to chronic stress of modern life, and instead advocate share existing work while trading-off income for more free time. They also support more funding for prenatal care, three months paid leave for all parents, greater social investment in the early childhood years, affordable child care and pre-schools – small class sizes and well paid teachers - and a more generous social safety net. They tell us that 40% of American workers get no paid sick days.

The authors repeatedly contrast the American experience with what is happening in Europe using OECD well-being statistics. Finland ranks near the top of happiness polls. High ranking countries like Finland, Sweden and Denmark are small countries with little racial or ethnic diversity and it may be that homogeneous societies find it easier to cooperate. Nevertheless, these countries have agreed on higher taxes to fund social safety nets and promoted greater equality. IKEA in Sweden pays its workers higher wages than in the US, even after higher taxes, as well as five weeks of paid vacation, overtime work is voluntary, and there is full health care and free college education. De Graaf and Batker talk about a ‘European social contract’ that incorporates national health insurance, secure retirement pensions, and welfare and unemployment

benefits that last longer. Denmark offers government jobs if its citizens do not find regular employment while in Germany instead of laying off workers in recession they reduce work hours of existing employees (for example, each worker has one day off a week).

All these comparisons do not present the US in a favourable light. Indeed in Chapter 8 the authors find parallels between modern America and the decline of the Roman Empire – foreign wars, glorification of excess, denigration of the intellect, bullying of critics, conspicuous consumption, moral degeneration, and disdain for those less privileged. Is that comparison overdrawn? Further statistical comparisons do not favour the US. The US is home to a quarter of the world’s prison population, more than half are non-violent offenders, and 44% of the prison population is black. Homelessness is another problem. Cutbacks in funding for mental hospitals has forced many to move back into the community but low cost housing is not always available. A half to two thirds of homeless people are mentally ill or otherwise disabled. Urban sprawl and auto dependence, the collapse of working class towns, corporate outsourcing and downsizing, and excessive CEO pay are other issues mentioned. On

IkeainÄlmhult,Sweden



a global level, US military spending could alternatively be used to end world hunger.

For most Americans housing is their primary asset and it has fallen in value and with the global financial crisis there have been many foreclosures. Chapter 12 focuses on the housing and banking crises characterised by reckless lending and borrowing, with scant regard to due diligence, toxic asset mortgage bundles and rising default rates on subprime loans. The authors contrast the American financial crisis with Canada where their banks were not affected as their financial system was not deregulated. The Canadian banks are ranked first and the American banks 111th in terms of the safest banking systems. The authors propose a raft of measures to increase the safety of the American financial system including a currency trading tax, increased reserve requirements, reducing leverage opportunities and limiting derivatives, in

addition to regulating hedge funds. They note that Switzerland, Sweden, Brazil and the UK all have financial transaction taxes.

The book by De Graaf and Batker is a broad-ranging critique of the modern American economy and raises important questions about the ultimate goals of economic activity – the authors believe that we needs tostopchasinggrowthandstartpursuinghappiness. The two are not necessarily compatible.

ReferencesDaly, Herman and Joshua Farley. 2010.

EcologicalEconomics. Island Press: London.

De Graaf, John and David K. Batker. 2011. What’stheeconomyFor,Anyway:Whyit’stimetostopchasinggrowthandstartpursuinghappiness. Bloomsbury: New York & London.

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Fifteen teachers from across the country have today been recognised with a 2013 Commonwealth Bank Foundation Teaching Award for their efforts to build essential money management skills of young Australians.

The Awards acknowledge and reward outstanding teachers who are currently running or developing innovative programs to educate Australian kids about money and finance.

From more than 200 applications, 15 winning teachers representing Queensland, New South Wales, Australian Capital Territory, Victoria, South Australia and Northern Territory were selected based on the creative and engaging ways they improve youth financial literacy.

Initiatives ranging from micro-societies, market gardens through to ‘Think it, Make it, Market it’ programs have been recognised in 2013.

Commonwealth Bank Chief Executive Officer and Foundation Chair Ian Narev said, the Group was committed to enhancing the financial wellbeing of young Australians, and through the 2013 Teaching Awards is providing the means to support teachers to assist in achieving this goal.

“We want to inspire teachers across Australia to develop and foster programs to engage our future generations in innovative ways to build essential money management skills,” Mr Narev said.

“We know financial literacy improves lives and has a measurable economic benefit. The 2013 Teaching Awards is just one of the practical ways we are investing in financial literacy education of our community,” he added.

The 15 teachers were announced at a special ceremony held at Commonwealth Bank (Sydney) today, with each teacher awarded $10,000 to fund financial education initiatives in their school, plus $2,000 as a personal reward.

For the complete list of 2013 recipients and further information about theTeaching Awards visit: www.commbank.com.au/teachingawards. 2013 winning profiles will be live on the website from 2.30pm.

- ENDS -

For more information contact:Georgia Psaltis Commonwealth Bank P: (02) 9118 6487 | M 0477 341 093 | E: [email protected]

About the Commonwealth Bank FoundationThe Commonwealth Bank Foundation was established in 2003 to improve the financial literacy of young people. The Foundation delivers a range of educational programs, including our award-winning StartSmart workshops, that will reach more than 275,000 Australian students this year. The Foundation’s programs are educational and do not promote the products or services of the Commonwealth Bank.

Media Release: Commonwealth Bank Foundation celebrates outstanding teachers

– 31 July 2013

https://www.commbank.com.au/teachingawards



Q&A with 2013 Commonwealth Bank Foundation Teaching Award winner, Nadine Saul

1. Where do you teach?

I teach a Stage 2 class (Years 3 and 4) at Revesby South Public School. This is my third term at the school.

2. How much attention is given to financial literacy in the primary school syllabuses at the moment?

Students learn about “money” in the MathematicsK-6Syllabuswith particular focus on the recognition, sorting, counting and ordering Australian coins according to their value. They learn that total amounts can be made using different denominations and currency is represented by the ($) and (c) symbols.

Students also perform addition and subtraction calculations with money, including finding change and rounding to the nearest 5 cents. Year 5 and 6 students develop strategies used to

2013 Commonwealth Bank Foundation Teaching Award winner Nadine Saul

calculate prices after applying percentage discounts e.g. a 10% discount.

In the new National Curriculum, there is a prominent focus for students in Year 5 and 6 to create simple financial plans such as a budget. For example, students may be asked to organise a class celebration on a budget of $60 for all expenses.

3. How do you feel about being recognised with the Commonwealth Bank Foundation Teaching Awards?

I was very excited and elated to hear that I and Revesby South Public School together were award recipients. It has been a wonderful opportunity to be part of a group of national winners being recognised for their efforts and dedication to providing young Australians with opportunities to develop a deep knowledge and proficiency in money management.


Teaching Awards 2013

4. What drove you to develop your financial literacy initiative?

I was originally involved with this program, a modified model of a program from the Maitland Region, at my previous school. Since transferring to Revesby South Public School, staff viewed the initiative as an opportunity to expand the existing environmental program whilst encompassing a combination of financial literacy and enterprise education concepts. This will allow more students, from Kindergarten to Year 6, to participate in the program.

5. In what ways do you expect your financial literacy program will impact your students and their understanding of money management?

As the program focuses on a combination of financial literacy and enterprise education, there are many positive outcomes for students.

By being “enterprising” students develop an understanding of the consumer market – creating ideas and products consumers want to buy, setting realistic prices, supply and demand, profit and loss, and selling products for school currency. They learn that money doesn’t ‘grow on trees’ or ‘simply come out of a machine’, but rather people need to work to earn their money.

When students have the opportunity to buy products with their school currency, they learn about budgeting - balancing needs with wants, making choices to spend wisely, comparing prices before you buy and establishing sound saving habits.

6. How will the Commonwealth Bank Foundation Teaching Award help you further develop your program?

Revesby South Public School plans to implement this program in Term 1 of next year. The generous award will allow us to purchase quality resources, materials and equipment for the initial setting up

of the program to ensure quality from the very beginning. It will also assist in the sustainability and longevity of the program and hopefully, in the future, lead to expanding the program to involve neighbouring schools.

7. At what age do you think students should start to learn about financial literacy?

I believe children should start to learn about financial literacy as early as possible. The earlier they learn about money and its management; then hopefully we can make an impact and influence their thinking before “bad habits” take hold.

8. How important is it for primary school students to be taught financial literacy?

As I believe children should learn about financial literacy at an early age, it is crucial to begin in Kindergarten. It is important for primary school students to learn about balancing needs and wants, recognising the value of money, planning budgets, and respecting that money is the result of hard work, so that they have the potential to develop into confident and proficient financially literate adults who have sound saving and spending habits.

9. What are some challenges facing the teaching of financial literacy in primary schools?

Some challenges facing the teaching of financial literacy in primary schools include:

• findingthetimetointroducesomethingnew(andwithquality)intoanalreadyovercrowdedcurriculum;

• fundingtheprogram,notonlyfromitsconceptionandimplementationbutalsotoensurethesustainabilityandlongevityoftheprogram;and

• dependingonthescaleoftheprogram,teacherburnoutmaybeafactorinthelongevityoftheprogram.


1. Where do you teach?

Mount View High School, located in the Hunter Valley town of Cessnock.

2. What subjects do you teach?

I am a learning and support teacher and I am currently teaching the Life Skills Numeracy program. The Life Skills program is aimed at students with additional learning needs.

3. How do you feel about being recognised with the Commonwealth Bank Foundation Teaching Awards?

The Commonwealth Bank Foundation is delivering wonderful programs and creating resources to assist teachers, students and schools develop financial

Q&A with 2013 Commonwealth Bank Foundation Teaching Award winner, Rebecca Rounsley

literacy programs and skills. It is wonderful to be recognised.

4. What drove you to develop your financial literacy initiative?

Understanding how to manage money is an essential life skill. It is a skill that my students need in order to become independent in their adult life.

5. In what ways do you expect your financial literacy program will impact your students and their understanding of money management?

The learning students will gain from my program includes:

• how to earn money;

2013 Commonwealth Bank Foundation Teaching Award winner, Rebecca Rounsley


Teaching Awards 2013

• how to set up a bank account;

• how to access their money – and the skills to use an ATM, eftpos and online banking; and

• basic skills of counting money and calculating the correct amount of change.

6. How will the Commonwealth Bank Foundation Teaching Award help to further develop your program?

The award will assist with the purchase of resources e.g. iPads and a cash register, coins, notes, books and an excursion to the bank.

7. How important is it for secondary school students to be taught financial literacy?

I think it’s important for both secondary and primary school students. Being able to manage money creates successful, independent adults.

8. What are some of the challenges facing the teaching of financial literacy in secondary school?

Getting students engaged – I am always trying to come up with new interesting and interactive ways to engage students in financial literacy.

BUSINESS MANAGEMENT DECISION-MAKING EXERCISE

Louie TraikovskiMinaret College, Springvale Campus, Victoria

RationaleThis exercise focuses on managerial decision-making. It requires students to make and evaluate decisions as a front-line manager. Issues of ethics, teamwork, production and quality are addressed in these decisions.

InstructionsRead the business scenarios. Answer the questions on them.

Questions1. Imagine you are a sports retail store

manager. What decision would you make in response to the following scenarios? Justify your decisions. What are the positive and negative consequences of your decisions?

A. Theft from till by a long-term employeeB. Competitor reduces prices on cheap lines

by 20%

C. Valued employee continues to be late for work after an official warning

D. Local suburban football team seeks your sponsorship

2. Imagine you are a production manager in a shoe factory. What decision would you make in response to the following scenarios? Justify your decisions. What are the positive and negative consequences of your decisions?

A. A lack of teamwork amongst workers is evident

B. Your boss says you are too soft on workers but their production record is excellent

C. A very good production line worker says she is bored

D. You notice the quality of shoes made is slipping


Though smoking rates have declined in Australia, smoking is still the single most preventable cause of ill health and death in Australia.1 Smoking results in high monetary and health costs for the average smoker (the cost of cigarettes, additional medical costs, earlier death and disability) and for society (increased health expenditure and lost productivity). Determining ways to effectively and efficiently minimise these costs is therefore of great interest to economists and policy experts. Policy interventions to discourage smoking include taxes to increase the price of cigarettes, bans on advertising, displaying and promoting cigarettes, and most recently in Australia, plain packaging of cigarettes.

Though evidence of falling rates of smoking in Australia suggests such policies are working, there is some disturbing evidence that progress on quitting smoking has stalled. While fewer people are taking up smoking, there appears to be no improvement in successful quitting, with one estimate that since 2000, all of the decrease in smoking in Australia is accounted for by fewer people taking up smoking.2 This static quit rate does not appear to be from a lack of smokers trying to quit: one survey of Australian smokers found that 77% had tried to quit smoking or smoke less in the past year.3 Another study found that 40% of Australian smokers had tried to quit and, of these, about 23% remained abstinent for at least a month.4 But most quit attempts

Does demand for cigarettes create supply, or does supply create demand? And what should we do about it?

Suzan Burton, Professor of Marketing and International Business – University of Western Sydney

are unsuccessful: an average 40 year old smoker who started smoking in their teens is likely to have made more than 20 failed quit attempts, showing that a key challenge for smoking cessation, and thus for health policy, is helping attempting quitters succeed in their attempts to stop smoking, especially since even a small increase in the success of quit attempts would have a significant effect on smoking prevalence, and on the health and monetary costs of smoking for Australian society.5

A recent study from Cancer Council NSW suggests that wide distribution of cigarettes is one factor making it hard for smokers to quit successfully.6 The report found tobacco retailers are everywhere – an average of more than 17 per postcode, and more than 7 per postcode in outer regional and remote areas. The study only looked at retailers in NSW, but there’s no reason to think the results wouldn’t apply across Australia. Earlier research found that

AmericanAnti-smokingcampaign


Australian smokers saw cigarettes for sale in more than 40% of the four hour periods when they were outside the home, so there is certainly widespread and convenient access to cigarettes in Australia.7 It’s possible that the resultant frequent exposure to the sight of tobacco retailers provides a constant temptation for attempting quitters and smokers to buy cigarettes, just as the sight of a McDonalds store can tempt people to buy food they’re trying to avoid. So the Cancer Council NSW report argues for reform of tobacco retailing in Australia, potentially including a decrease in the number of tobacco retailers

Determining whether wide distribution of tobacco creates a temptation for smokers to smoke more, or whether wide distribution of tobacco is a market response to demand for tobacco, creates an interesting problem for economics and health researchers. Does increased distribution of a product result in higher sales, or do higher sales result in more stores stocking the product? There is certainly evidence that wider distribution can increase sales of cigarettes: the sight of cigarettes and/or associated point of sale (POS) promotion is associated with higher rates of impulse purchase,8, 9 and increased smoking by adults7, 10 and youth.11 The effect of distribution on sales has been described as ‘psychic stock’, reflecting a theory that having more stock of any item in a store increases the chance that the item will be seen and considered for purchase.12 This effect is consistent with evidence that sales of an item will increase (up to some level of diminishing returns) with an increase in the amount of space devoted to it, and/or an improvement in the display space,13 and evidence that grocery item sales are higher if shelves are fully stocked.14, 15 Conversely, low stock levels are likely to reduce the consumer’s exposure to the product, and therefore result in a reduction of sales.16 So

having fewer tobacco outlets might be one avenue to decreasing the level of tobacco sales. The association between sales and distribution for any product will, however, be compounded by related effects, such as the higher budgets, efficiencies and higher customer loyalty for higher market share brands, leading to substantial difficulties in modelling the relationship between sales and distribution.17, 18 Establishing whether tobacco sales are the result of distribution or vice versa is difficult, because the direction of causality is uncertain, and possibly bi-directional. As discussed above, distribution may increase sales of tobacco by encouraging or reminding people to buy. Alternatively, widespread distribution may be a rational market response to demand: if there was little demand for cigarettes, retailers would presumably decide that they could make more money by devoting that space to other items, and would stop selling cigarettes.

Supply and demand

Australianplainpackaging


Evidence that the sight of tobacco can lead to impulse purchases has led Australian governments (and those of many other countries) to ban POS displays of tobacco. So cigarettes are now enclosed behind shutters or hidden away in drawers, in an attempt to remove the temptation to smoke which is provided by a display of cigarette packets. Following the implementation of such display bans, however it is not clear to what extent tobacco distribution contributes to smoking (if at all) in Australia. At least part of the effect of tobacco distribution on smoking described in previous research is likely to be due to the visual cue caused by the sight of tobacco packets at the point-of-sale, since some smokers report that the sight of tobacco in retail stores results in an urge to smoke and/or buy cigarettes.19 Bans on displays of tobacco should have removed such temptations.

But is banning tobacco displays enough to remove the temptation to smoke caused by wide distribution of tobacco? Just as the sight of the McDonalds golden arches can tempt a dieter, even without the sight or smell of McDonald’s food, the sight of a tobacco retailer might tempt a smoker, particularly one who is trying to quit, to buy cigarettes and smoke. One recent Australian study found evidence to support this possibility, with smokers and attempting quitters reporting that the mere sight of a tobacco retailer was sometimes sufficient to make them think about smoking, and sometimes resulted in additional purchases. Convenient access to tobacco may also contribute to higher levels of smoking: one Canadian study found that one third of smokers said that they would smoke less if they had to travel further to buy cigarettes.20 Selling cigarettes in venues where alcohol is consumed may be particularly likely to increase smoking due to the strong

association between drinking and smoking; licensed premises are the only outlets where smokers can see other people smoke, can smoke themselves, and can purchase tobacco, while at the same time subject to the disinhibiting effects of alcohol.7 In one study, 22% of surveyed smokers said that they smoked ‘a lot more’ if cigarettes were sold in licensed premises, and 17% of said that they smoked ‘a little more’.21

So it’s likely that wide distribution of cigarettes is both a result of demand for tobacco and also contributes to that demand. Deciding on the most effective and efficient policies to further decrease smoking in Australia is likely to be contentious, and any change to tobacco retailing is likely to be fiercely resisted by the tobacco industry. Cigarettes are legal, and removing them from stores completely would create undue hardship for addicted smokers. But the CCNSW report points out that there are five times more tobacco outlets than pharmacies in NSW. In practice, that can mean that a smoker can buy cigarettes 24 hours a day, 7 days a week, but someone trying to quit smoking can

CigarettepackaginginThailand

Supply and demand


Supply and demand

only get nicotine replacement therapy (NRT) from the local pharmacy – which in rural areas might only be from 9 to 5 on weekdays, and till midday on Saturday. Perhaps it’s time to reweight the balance of distribution, so that NRT is at least as widely available as cigarettes.

References1. AIHW ( 2010) Australia’shealth2010.Cat.no.

AUS122.Canberra:.

2. Borland, R. Challengesfortobaccocontrolasanincreasingproportionofsmokersaredisadvantaged. in OceaniaTobaccoControlConference. 2011. Brisbane.

3. Scollo, M. and M. Winstanley,TobaccoinAustralia:Factsandissues. 2012, http://www.tobaccoinaustralia.org.au.

4. Cooper, J., R. Borland, and H.H. Yong, Australian smokers increasingly use help to quit, but number of attempts remains stable: findings from the International Tobacco Control Study 2002–09. AustralianandNewZealandJournalofPublicHealth, 2011. 35(4): 368-376.

5. Borland, R., T.R. Partos, H.-H. Yong, K.M. Cummings, and A. Hyland, How much unsuccessful quitting activity is going on among adult smokers? Data from the International Tobacco Control Four Country cohort survey. Addiction, 2012. 107(3): 673–682.

6. Fry, R., Williams K, Burton S, Egger S, Walsberger S, Soulos G, Tang A, and Chapman K. AnauditoftobaccoretailersinNSW. 2013; Available from: <http://canact.com.au/wp-content/uploads/2013/08/CCN15092_FINAL_Tobacco-Report-Audit-Paper-1207_FINAL.pdf>, accessed August 2013.

7. Burton, S., L. Clark, S. Heuler, J. Bollerup, and K. Jackson, Retail tobacco distribution in Australia: Evidence for policy development. AustralasianMarketingJournal, 2011. 19(3): 168-173.

8. Carter, O.B.J., B.W. Mills, and R.J. Donovan, The effect of retail cigarette pack displays on unplanned purchases: results from immediate postpurchase interviews. TobaccoControl, 2009. 18(3): 218-21.

9. Wakefield, M., D. Germain, and L. Henriksen, The effect of retail cigarette pack displays on

impulse purchase. Addiction, 2008. 103(2): 322–328.

10. Burton, S., L. Clark, and K. Jackson, The association between seeing retail displays of tobacco and tobacco smoking and purchase: findings from a diary style survey. Addiction, 2012. 107(1): 169–175.

11. Paynter, J., R. Edwards, P.J. Schluter, and I. McDuff, Point of sale tobacco displays and smoking among 14 –15 year olds in New Zealand: a cross-sectional study. TobaccoControl, 2009. 18(4): 268–74.

12. Larson, P. and R.A. DeMarais, Psychic Stock: An Independent Variable Category of Inventory. InternationalJournalofPhysicalDistribution&LogisticsManagement, 1990. 20(7): 28–34.

13. Cairns, J.P., Suppliers, retailers and shelf space. JournalofMarketing1962. 26(3): 34–36.

14. Progressive Grocer, How customers shop the modern supermarket. ProgressiveGrocer, 1964: C81–96.

15. Progressive Grocer, Shelf merchandising strategy: A key to Increased Sales. ProgressiveGrocer: C121–136.

16. Crouch, G.I. and R.N. Shaw, Microcomputer-based merchandising management systems: A new approach. InternationalJournalofRetailing, 1989. 4(1): 5–18.

17. Farley, J.U. and H.J. Leavitt, A Model of the Distribution of Branded Personal Products in Jamaica. JournalofMarketingResearch, 1968. 5(4): 362–368.

18. Reibstein, D.J. and P.W. Farris, Market share and distribution: a generalization, a speculation, and some implications. MarketingScience, 1995. 14(3): G190–G201.

19. Hoek, J., H. Gifford, G. Pirikahu, and G. Thomson, How do tobacco retail displays affect cessation attempts? Findings from a qualitative study. TobaccoControl, 2010. 19(4): 334–337.

20. Health Canada, NationalBaselineSurveyontheTobaccoRetailEnvironment,FinalReportPOR-04–48. 2005, Corporate Research Associates Inc. prepared for Health Canada.

21. Paul CL, M.K., et al. , Anywhere, anytime: Retail access to tobacco in New South Wales and its potential impact on consumption and quitting. SocialScience&Medicine, 2010. 71: 799–806.


Commerce Group Assessment Task for “Global Links”

Joe Alvaro, Marist College North Shore

The following assessment task is based on the “Global Links” topic in the Board of Studies NSW Commerce course (2003). It is a group learning task based on the principles of cooperative learning. Each group is assessed on their research skills, what they know in relation to the question, how effectively they present what they know in front of the class and how effectively they work together as a group. In order for the assessment task to be successful the following guidelines should be followed:

• ensure students know what each of the directive terms/verbs ( e.g. “evaluate”) mean in the question so they work towards answering fully to each verb.

• ensure students use the content in the “Global Links” topic as they complete their research.

• makes notes about how well each group works together throughout the duration of the assessment task so an effective final judgement can be made when assessing this component of the assessment task.

• monitor each group regularly to see if each student is making an effective contribution and to check that group members are working together in a productive manner.

Name of schoolYear 10 Commerce

(Year) Assessment Task No. …….Topic: Global Links

Task Type: Group Presentation

Due Date: …….

* Allcomponentsofthegrouptaskpresentationswillbecollectedontheduedateforallgroupsandreissuedtoeachgroupwhentheyperformthetask.Nonewmaterialwillbeallowedtobeintroducedintoagroup’sworkaftertheassessmentdate.

Groupswillberandomlyselectedtocompletetheirpresentationatthebeginningoftheprocess.Thedayagroupisaskedtodotheirpresentationistheirassessmentdate.Failuretodothetaskwillresultinazeromark.

Marks: 20

Weighting: …….

Length: 7 minutes


*Grouppresentationsmustfollowthetimelimitissued.Agroupgoingoverthetimelimitwillbestoppedandonlytheworkpresentedinthetimelimitwillbemarked.

Textbook reference: ........

Course outcomes assessed:

5.2 Analyses the rights and responsibilities of individuals in a range of consumer, financial, business, legal and employment contexts

5.4 Analyses key factors affecting commercial and legal decisions

5.5 Evaluates options for solving commercial and legal problems and issues

5.7 Researches and assesses commercial and legal information using a variety of sources

5.8 Explains commercial and legal information using a variety of forms

5.9 Works independently and collaboratively to meet individual and collective goals within specified timelines

Rubric:

Students will be assessed on their ability to:

• work effectively as a group.

• undertake collaborative research using a variety of sources.

• demonstrate a clear understanding of the effect of globalisation on the TNC chosen.

• use commercial concepts and terms appropriately.

• present research from range of sources in a variety of interesting and engaging formats.

Assessment task


Assessment task

Assessment Task:

In groups of 3, students are to select a transnational corporation (TNC) that operates in Australia. Using the TNC chosen, students are to present to the class a multimedia presentation (7 minutes). The presentation must address the following points:

• Define what a TNC is.

• Identify the TNC you have chosen and outline what good/s and/or service/s your TNC provides.

• Outline what industry the TNC operates in.

• Outline the history of your TNC in Australia.

• Outline the main activities of the TNC in the Australian economy.

• Explain THREE reasons why the TNC operates on a global scale.

• Select and explain THREE issues that exist for the TNC in Australia.

• Evaluate THREE strategies your TNC has used to manage these issues.

• Discuss TWO possible risks for the TNC as it continues to sell products to global markets in the future.


Assessment task

Group members and TNC chosen:

This is a group task. All students will work in groups of 3 on a chosen TNC. There will be only one group investigating a particular TNC – first in, first served.

Students must register their TNC and the students in the group with their respective class teacher. This should be done on the form provided below.

… …………………………………………………………………………………………

Group information:

Fullnamesofallstudents

1 ______________________

2 ______________________

3 ______________________

TNC chosen:

__________________________________________________________

Group organization (please submit with assessment task):Each group is required to submit a document outlining the individual responsibilities of the group. All group members should agree on this.

Members Responsibilities

1

2

3


Bibliography:

Submit a bibliography using “A guide to writing bibliographies based on the Harvard style”.

Marking guidelines:

Criteria Marks

• Clearly defines what a TNC.• Clearly outlines the history of the TNC in Australia.• Cleary identifies the TNC and clearly outlines the good/s and/or services provided.• Clearly outlines the industry the TNC operates.• Clearly outlines the main activities of the TNC in the Australian economy.• Comprehensively explains three reasons why the TNC operates on a global scale.• Clearly explains three issues that exist for the TNC in Australia.• Clearly evaluates the success of the three strategies.• Comprehensive discussion of two possible risks the TNC it may face in the future. • Effectively communicates in oral form, presenting a sustained, logical and well structured

presentation which clearly demonstrates the use of multimedia in the presentation.• Cleary demonstrates an understanding of commercial concepts and terms.• Submits acomprehensive bibliography according to the diary guidelines.• Group works consistently in a highly productive manner.

17 – 20

• Defines what a TNC is.• Outlines the history of the TNC in Australia.• Identifies the TNC and outlines the good/s and/or services provided.• Outlines the industry the TNC operates.• Outlines the main activities of the TNC in the Australian economy.• Explains three reasons why the TNC operates on a global scale.• Explains three issues that exist for the TNC in Australia.• Evaluates the success of the three strategies • Discusses two possible risks the TNC it may face in the future.• Effectively communicates in oral form, presenting a logical and well structured presentation which

demonstrates the use of multimedia in the presentation.• Demonstrates an understanding of commercial concepts and terms.• Submits a bibliography according to the diary guidelines.• Group mostly works in a productive manner.

13 – 16

• Briefly defines what a TNC is.• Briefly outlines the history of the TNC in Australia.• Identifies the TNC and briefly outlines good/s and/or services/s provided.• Briefly outlines the industry the TNC operates in.• Briefly outlines the main activities of the TNC in the Australian economy.• Outlines three reasons why the TNC operates on a global scale.• Outlines three issues that exist for the TNC in Australia.• Provides some evaluation of the success of the three strategies.• Some discussion about two possible risks the TNC it may face in the future.• Communicates in oral form with the presentation structured to address the task and demonstrates

some use of multimedia in the presentation.• Shows some understanding of commercial concepts and terms.• Bibliography may not be correctly written according to the diary guidelines.• Generally groups works in a productive manner.

9 – 12

Assessment task


Assessment task

• Some general statements about what a TNC is.• Makes general statements on the history of the TNC in Australia.• Identifies the TNC and makes general statements about the good/s and/or services provided.• Identifies the industry the TNC operates in.• Identifies the main activities of the TNC in the Australian economy.• Identifies three reasons why the TNC operates on a global scale.• Identifies three issues that exist for the TNC in Australia.• Provides limited evaluation of the success of the three strategies.• Outlines two possible risks the TNC may face in the future..• Presents a basic presentation. Use of multimedia is limited.• Shows a limited understanding of commercial concepts and terms.• Submits a limited bibliography.• Some evidence of the group working productively together.

5 – 8

• Little evidence of what a TNC is. Definition may not be correct.• Little to no evidence of the history of the TNC in Australia• TNC may not be identified and little or no information is provided about the good/s and/or

service/s the TNC provides.• Industry may not be identified.• Limited understanding of the main activities of the TNC in the Australian economy.• Little or no information about why the TNC operates on a global scale.• Limited understanding of the issues that exist for the TNC in Australia.• Makes statements about the effectiveness of the three strategies.• Limited understanding about the possible risks the TNC may face in the future.• Presents a limited presentation that may not meet the time allocation. Minimal effort to use

multimedia in the presentation.• Limited use of commercial concepts and terms which may or may not be correct/appropriate.• May not submit a bibliography.• Disjointed group productivity.

1 – 4


Wordsearch

Q N O I T A I D E M R E C J U E L V N D T R B G N B R N R A P I P I P K O C Y Y W O O R N Q E Q Y Q J O B D E S I G N V N Q I N I H I D E K I M V G D G Y L J R V P Q V C E E N T A T O M J Z F U J R E G S Q A X W J G I G X R I Y A V E A P Q F N S K S S I P G E L V L X T B O S R O G E W F M B E Y I E D T N E M T I U R C E R T I A L A I W A C R G T Z T Y B B C A W I Y L A I P N T Z Q S R A H A B O N D B G K T I N Q G X B C A A A Y D C Z G I T U Q I X N E I U S F N X R N M H N T Z G Q L V G I G W Y Z M O L I T E I A X E F Y Q I J M D A Z R O T B P C N Y C J G L F C C R R A F X G K Y C O T N J U T R D B N B E J K N S A Z A N I N S O Z I C K W W E H D K V W C V A V T K C S C A Y L Y P R Q I A K Z J H V C X Y M G E B D I U N Z T D R J A Y U U B L X A Q T U R C N N N C Y L I G E J A K D G E V M I S M D C O N O J W I X F G L P X A T E N Z M H G N P Q A F J M J A X Z C X N J S Y M E R U X P T L T X A R E W A R D S K X R K F H I E N U R M W I K R C E X S T U C Z W V Y R U I M J N O D T K W F F I P N K H G X G F P C G R Z O R G L M E H A W E S N E H L N I Q H R E I S D T V S S B N C M N I J I S A B Q J P N D P U G D Z M Z Q T N O O A Z Y A T I Q X Q O J G B B W D R P H Y D U U N R D K D F Z C L E A D E R S H I P S T Y L E S V O P I K P X R X

Human Resources Strategies Kate Dally, Birrong Girls High School

ARBITRATION

CONCILIATION

DIVERSITY

EXTRINSIC

GRIEVANCE

PROCEDURE

Complete the word search below and write a meaning for each of the terms:

RECRUITMENT

INTRINSIC

JOB DESIGN

LEADERSHIP STYLES

MEDIATION

MONETARY

REMUNERATION

REWARDS

NONMONETARY

OUTSOURCING

PERFORMANCE MANAGEMENT

SPECIFIC SKILLS

The following website was used to create this wordsearch: http://www.discoveryeducation.com/free-puzzlemaker/

http://www.discoveryeducation.com/free-puzzlemaker/


Profile

FeAtURe

26 oct 2012 SAM

Eugenia Falleni. Photo: Courtesy Simon and Schuster

Hot SHotS coLD cASeS

It’s typical of an over-achiever like Mark Tedeschi that he’s not just a Sydney graduate, he’s a third-generation alumnus. First came his beloved great-grandmother Rosina, a pre-war

immigrant who taught Italian at the University, followed by his mother, himself and his children (including Simon, the well-known pianist.)

A photograph of Rosina receiving an honorary doctorate sits behind his desk, a reminder of the family’s Italian roots and successful integration into Australian society at the highest levels of public service. Today Tedeschi is top prosecutor in NSW, overseeing a team of 90 lawyers working for the Department of Public Prosecutions. He has been responsible for securing some of the state’s most high-profile convictions, against Ivan Milat, Bruce Burrell and Gordon Wood.

Mild-mannered and gracious, giving no hint of the steeliness that such cases involve, Tedeschi is proud of his origins. “My family came from Turin and Verona,” he says, acknowledging that his surname is also the Italian word for ‘German’, which indicates that further back, their origins were Teutonic. But while Tedeschi apologises for his poor command of the Italian language and confesses that he is no lover of opera, he recognises stereotypical traits – sentimentality and volubility – in himself that we think of as typically Italian. “My colleagues say that I use my hands a lot in court.”

Tedeschi came to the University of Sydney in 1969 straight from Sydney Grammar School and graduated from law in 1974. He was essentially studious rather than social. “I did not go wild, I was conservative and moderate, as I am today,” he says, sitting in his cluttered chambers overlooking Hyde Park. He enjoys courtroom dramas on TV (Law and Order is his favourite) but says the depiction of his University

contemporary, the prominent barrister Charles Waterstreet in Rake “made me angry. Yes, Charlie is flamboyant, cheeky, creative, clever and big-hearted but he’s not as extreme as that.”

The corridor to Tedeschi’s office is lined with black and white prints from his recently-released book of photography, Shooting Around Corners: portraits of grinning children in Redfern’s Block (an area whose redevelopment he decries), and images of solemn police officers and court staff. It’s all part of his ongoing passion for photography, pursued in every spare moment.

His rooms are humanised by personal mementos: strappy-leafed plants hint at his Sunday gardener status, calligraphy brushes are souvenirs from a trip to China. Aboriginal art bought on a trip to Central Australia adds a bold accent of colour amid shelves of leather-bound legal volumes and plastic binders. Two panama hats suggest lunchtime walks on sunnier days. The large round fish tank remains sadly empty and in need of serious attention. There are also a few bottles of wine on a sideboard – gifts from grateful families of victims, a quiet reminder of the high emotion surrounding his work.

For the past year Tedeschi has been obsessed in his spare time by a project that has required him to go beyond his normal boundaries of investigation and explore new territory: now he can add ‘author’ to a considerable list of achievements.

Tedeschi has written the story of one of Australia’s most intriguing and scandalous cases: Eugenia Falleni, born in 1875, a woman who spent 22 years living in Sydney as a man named Harry Crawford, and who went to trial in 1920 charged with the murder of her first ‘wife’. The case has fascinated him for the past seven years, ever since he first spoke of it at the gala dinner for the 175th anniversary of the NSW Crown prosecution office, describing it as one of

WoRDS CAROLINE BAUM

crown prosecutor, photographer and now crime writer – Mark tedeschi is bursting with creativity.

Mark Tedeschi. Photo: Steven Stewart


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SAM oct 2012 27

the most significant trials prosecuted by his forebears.“The transcript of the trial shocked me, because

her defence counsel made so many errors,” he says. “An injustice was done to her and someone more shrewd could have saved her. I also felt a connection to Eugenia because we both had Italian ancestry. Also, the place where the death that led to her being charged with murder was the park near the river at Lane Cove, somewhere I used to play as a child.”

“I was afraid that I might not be able to write the bits about human psychology.”

Describing himself as a novice at writing, Tedeschi had the good sense to engage a mentor to help him with the task, choosing Alan Gold, the author of several bestselling works of historical fiction. “I was afraid that I might not be able to write the bits about human psychology,” he admits. But of course his skill as a prosecutor relies on an acute understanding of human nature and all its flaws and foibles.

“I found I could write those parts that required me to speculate on what might have been going through Eugenia and the other protagonists’ minds. My professional life had prepared me for that more than I expected,” he says. Tedeschi describes his approach to everything he tackles as “driven. I devote a lot of time to personal projects, whether it’s this book or my photographs because I genuinely believe the journey is as important as the destination.”

In the case of Eugenia, he brings his calm, deliberate insights to a case that was overheated at

the time as a public scandal, focusing on the sexual deception that she perpetrated, fooling two wives with the use of a fake penis fashioned of wood and leather that she employed with great skill. Today that object has disappeared, though, as Tedeschi delights in recounting, “the Justice and Police Museum has something catalogued as ‘the article’ (the euphemism of the day), except that it looks like a draft excluder: it’s 30 centimetres long and five centimetres thick.” He’d like to see a film made of the Falleni case, claiming it has the right elements of drama and intrigue but won’t speculate about who he imagines in the role.

Tedeschi likes to think in images. It was Rosina who gave him his first camera at the age of 12. Today, he is a Nikon man, passionate about taking portraits. “I like to study emotion and the candid unguarded moment,” he says of his subjects, including artists, footballers and legal associates. He regrets never having had the opportunity to photograph the artist Margaret Olley (“she said she was too busy”) and would love to shoot the Governor, Her Excellency Marie Bashir. “But she’s so fair; she said if she let me, she’d have to let everyone else.”

And if he had the chance to photograph Eugenia? “It would be as Harry Crawford, at the Empire Hotel in Annandale, his favourite drinking spot, and thankfully, still there. He would have felt comfortable, secure and at peace, so I would have had a good chance of capturing his essence.”

Eugenia, A True Story of Adversity, Tragedy, Crime and Courage is published by Simon and Schuster. Shooting Around Corners, is published by the Beagle Press.

BooK LAUNcH oNLINeTo see Richard Ackland’s speech to launch Eugenia, go to sydney.edu.au/sam/features

Thread head, Beijing 2005. Photo: Mark Tedeschi

* Taken from SAM – Sydney Alumni Magazine (The University of Sydney) October, 2012 Reprinted with permission.


1 Part of this article first appeared in The Conversation (http://theconversation.com/profiles/neil-perry-1435/articles)

The Australian government’s Direct Action policy for meeting carbon emission reduction targets1

Dr Neil Perry, Research Lecturer in Corporate Social Responsibility and Sustainability,

School of Business, University of Western Sydney

Australia’s carbon emission reduction policies are designed to honour the country’s commitment to the United Nation’s Framework Convention on Climate Change. However, the government’s voluntary approach to environmental policy is unlikely to achieve emissions reductions. Scientists have long been arguing that the world must reduce their emissions of carbon dioxide and other gases, such as methane, because the build-up of these gases in the atmosphere is creating a greenhouse effect by trapping in heat that would otherwise radiate out into space. The vast majority of climate scientists, some 97%, believe that humans are causing global warming (Doran and Zimmerman, 2009) and the impact from the greenhouse effect will create higher temperatures, more extreme and variable weather conditions and desertification. These impacts will have incredible costs on the world’s economies and its people, plants and animals.

From an economic perspective, climate change is classified as a negative externality or spillover cost from the burning of fossil fuels like coal to produce electricity and from land clearing, which releases carbon stored in vegetation. Burning fossil fuels, for example, creates a cost for other people and other countries and these costs have not been taken into account when producers make decisions about the methods and quantity of production. As a result, the wrong methods are used and the amount produced is greater than it should be.

The ecosystem, human and economic effects of climate change are likely to be severe and governments around the world have decided that emissions of carbon dioxide and other greenhouse gases must be reduced to limit the worst effects of climate change. However, a difficulty arises because, for each country, reducing carbon emissions is costly and they receive only a small part of the benefit of reducing the impacts of climate change. Take Australia as an example. While Australia has one of the highest levels of carbon emissions per person in the world, the total emissions are small because of the small population. Australia’s emissions represent only 1.5% of global emissions. Thus, if Australia reduces emissions, it will have only a very small effect on the total level of greenhouse gases in the atmosphere. However, the emission reductions are costly for Australia. Whichever policy is used to reduce emissions leads to a reduction in industry output, the government budget or gross domestic product. This is a classic problem in economics. While every country would be better off reducing emissions if all countries reduced emissions, each country has an incentive to continue to emit and rely on other countries to reduce emissions. Amongst pollution types, this is unique for the global warming problem because carbon is collected in the atmosphere and not at the local or national level. This is why global coordination of activities to reduce

http://theconversation.com/profiles/neil-perry-1435/articles


Direct Action policy

emissions is needed. The UN Framework Convention on Climate Change attempts to coordinate action amongst the world’s biggest emitters of greenhouse gases. The idea is to create an incentive for a country to reduce their emissions by securing emission reductions from other countries. While the agreements deriving from the UN Framework Convention on Climate Change, such as the Kyoto protocol, have been imperfect and the United States is yet to formally agree to any agreement, Australia did agree to reduce their emissions in 2007 and the government is obligated to do so. Moreover, from an ethical standpoint, and as a developed country who can afford to reduce emissions, Australia is morally obligated to do so and contribute to the cause of reducing the worst effects of climate change. The question then is how these emission reductions will be achieved.

The object of this article is to describe and evaluate the Australian government’s plans to reduce carbon dioxide emissions and other greenhouse gases to meet their obligations. This evaluation comes at a time shortly after the Liberal National Party (LNP) was elected to government and immediately released legislation to repeal the existing policy – the carbon pricing scheme (Clean Energy Future policy) implemented by the former Labor government in 2012. While the now opposition Labor Party and The Greens will block the repeal legislation, from July 2014 the LNP is expected to have the numbers in both the lower and upper house of parliament to have the legislation repealed. Thus, the LNP’s alternative policy, labelled “Direct Action”, will be the future policy for reducing Australia’s carbon emissions. I firstly describe the possible types of environmental policies before categorising Direct Action as a voluntary approach to environmental policy and describing some of the economic issues that will arise.

Three policy approaches

The three general policy approaches for reducing environmental degradation are ‘regulatory instruments’ which dominated from the 1960s to 1980s, ‘incentive-based mechanisms’ that have dominated since and ‘voluntary approaches’, the so-called third wave of environmental policy instruments.

Regulatory instruments are often referred to as the ‘command and control’ approach. The approach involves a regulator setting production technology or emission standards for firms and requiring them to achieve the standards or be fined. An example is requiring coal-fired power stations to install ‘scrubbers’ that remove unwanted pollutants as they produce electricity. While much of environmental policy was originally designed in this way – the United States’ Clean Air and Clean Water legislation from the 1970s are typical examples – economists have repeatedly criticised the approach. The regulatory approach can achieve efficient pollution levels but they require uniform emission reductions across different types of firms. Thus, they are not the ‘least-cost’ solution. That is, ‘high-cost abaters’ – those firms for whom it is expensive to reduce emissions – must reduce pollution by the same percentage as ‘low-cost abaters’. This increases the total cost of abatement.

Incentive-based mechanisms are preferred by economists and generally involve putting a price on emissions. A carbon tax – a tax per tonne of carbon emitted – is an example. Under a carbon tax, a polluter will consider the external cost of the emissions and will reduce emissions by installing new technology as long as the cost of installing the technology is less than the cost of paying the tax. The existing Clean Energy Future policy, implemented by the previous



Labor government, is another example. While this was labelled (ABC, 2011) as a “great big new tax on everything” by the LNP, it is actually a carbon emission trading scheme and such schemes have previously been introduced in Europe, New Zealand and in some States in the U.S. amongst other places. Under an emission trading scheme, firms either receive free permits to emit or purchase permits in an auction market. These permits can then be sold (or others bought) in a secondary market. The incentive structure is similar to the carbon tax and depends on the price of permits which can fluctuate according to supply and demand. As the Labor government’s policy had a fixed price for three years, it operated as a tax but the intention was to shift to a floating price from 2014.

In theory, incentive-based mechanisms achieve efficient and least-cost emission reductions. Each firm only abates until their own particular cost of abatement equals the price they must pay (carbon permit price or tax level) for emissions. Thus, high-cost abaters abate less than low-cost abaters but the desired total level of abatement is achieved.

Voluntary approaches, in contrast, are not conceived in, or prescribed by, economic theory, except those resulting from private agreements between individual polluters and their pollution sufferers. Private agreements require a very local form of pollution, zero transaction costs – the costs of bargaining, establishing, and enforcing contracts – and neutral power relations between polluter and sufferer. This is obviously not the case for carbon emissions. Aside from these private agreements, voluntary approaches can be categorised as either ‘unilateral commitments’ made by polluters for corporate social responsibility reasons, ‘negotiated agreements’ –

contracts between public authorities and industry to achieve environmental targets – and ‘public voluntary programs’ where industry is invited to participate in a program developed by public authorities.

‘Direct action’ is a public voluntary program

The LNP’s policy resembles a public voluntary program. In their policy document (LNP, 2010) they propose to utilise the existing National Greenhouse and Energy Reporting Scheme – which requires firms of a certain size and emissions intensity to report their emissions – to set ‘baseline’ and ‘proposed emission reduction’ levels for individual firms. The baseline or ‘business as usual’ emission profile will have economic growth projections built in and will therefore allow a higher level of emissions through time. They will also allow for business expansion “at best practice”. Offsetting that will be a natural “trend toward lower emissions-intensive activity” which will reduce baseline emissions somewhat. The ‘proposed emission reductions’ for each firm could be determined in a number of ways but presumably these are based on the Coalition’s target for carbon emission reductions, which is identical to the Government’s for 2020 – that is, 5% below 2000 levels by 2020.

The plan then relies on the following mechanism. If firms achieve lower emissions than their baseline level, they “will be able to offer this CO2 abatement for sale to the government”. Thus, the Coalition will set up a program and invite industry to participate, the very definition of a ‘public voluntary program’. There is no requirement to participate and no cost to continue to emit at business as usual levels. If firms emit more than their business-as-usual level, they will be punished but as this punishment will


be “set in consultation with industry” and because there is a natural trend towards lower emissions per unit of output, the punishment is not expected to come into force very often. Indeed, the government has stated that they expect no revenue from the Direct Action policy.

Given the voluntary participation, the Direct Action policy is designed around a subsidy scheme. The government will establish an Emissions Reduction Fund of $2.55 billion dollars for the first four years. This will be used to subsidise individual companies for emission reduction projects. That is, if they choose to do so, firms can propose projects that reduce emissions and the government will choose which projects they want to fund from their pool of money. Obviously, the plan is to fund the cheapest projects in terms of emission reductions per dollar spent until the money is spent. For example, a polluter could choose to install new technology that reduces emissions relative to the business-as-usual level. If the cost is below proposals from other firms and funds are available, the polluter will receive a subsidy.

It could be argued that the LNP uses the phrase “Direct Action” to obscure the fact that they take a voluntary approach to environmental policy. At first glance the policy appears to be an incentive-based policy instrument and this is how the Coalition would like it to be interpreted. For example, they emphasise (LNP, 2010): “We are committed to incentives rather than penalties”; and “Australia needs a scheme that will provide the incentive for firms to reduce their carbon emissions”. Yet, ironically, the carbon pricing mechanism it will replace is the typical economic example of an incentive-based policy instrument and many economists have spoken out in support of the carbon pricing mechanism. For example, in a recent Fairfax media survey

of 35 prominent business and academic economists, only two preferred the Direct Action policy while 30 preferred the carbon pricing policy (Wade and Hutchens, 2013).

It is true that providing subsidies to firms to reduce emissions, as the Coalition proposes, also incentivises emission reductions but this is generally regarded to be morally unacceptable because it rewards industry for doing something they should be doing in the first place – that is, reducing the social impact arising from their pursuit of profits. In addition, just like a tax, the subsidy creates an incentive to invest in emissions-reduction projects and it is therefore an indirect, rather than a ‘Direct’, policy. Add to this the fact that firm’s do not have to participate and will not be punished for continuing to emit as they currently do and it could be concluded that the policy is unlikely to lead to any ‘Action’. This lack of participation is discussed in the following section along with other economic issues.

Economic issues – no credible threat, an ineffective target, rent seeking, no participation and property rights to polluteVoluntary approaches to environmental policy can be successful, particularly when they concern so called ‘soft effects’, such as requests for industry to participate in information provision schemes. The European Ecomanagement and Auditing scheme is an example. However, a good voluntary approach, especially for the much harder aim of reducing emissions, requires a credible threat to introduce harsh mandatory policies if the targets (in this case 5% below 2000 levels by 2020) are not reached. This encourages firms to participate under the logic that if they do not, something much worse will follow. The coalition proposes no such thing and in fact by repealing the carbon pricing scheme, they move in quite



the opposite direction. In short, there will be no ramifications if business fails to reach the target.

In fact, the government has recently accepted that the 5% target may not be reached using only the budgeted funds in the Direct Action plan and they have also pledged not to increase the available funds. Recent modelling by SKM-MMA and Monash University’s Centre of Policy Studies for the Climate Institute and Reputex for WWF-Australia has demonstrated that the Coalition would need to spend at least an extra $4 billion and perhaps as much as $35 billion to meet the 5% target (Climate Institute, 2013; Reputex, 2013). Without this additional funding, emissions are modelled to increase by between 9% and 16% from 2000 levels by 2020 under the Direct Action plan. Thus, the voluntary approach, the lack of a credible threat and the promise to resist any increase in funding suggests that the Direct Action policy will not achieve Australia’s commitments under the UN Framework Convention on Climate Change.

The Direct Action policy also seems to encourage rent seeking. Rent seeking refers to the resources firms use to lobby governments to maintain extraordinary profit levels. This is considered wasteful in economics because the resources (labour time and capital) could be used more productively elsewhere in the economy. Environmental policies should be designed to reduce the potential for rent seeking. However, in the Direct Action policy, there appears to be a significant degree of flexibility for individual firms to lobby for higher levels of historical emission baselines. In addition, each potential emissions-reducing project must be approved by a government-appointed technical committee (LNP, 2010). This encourages an aggressive lobbying effort to secure the available

emissions reduction funds should firms choose to participate.

The most important issue, however, is that firms are unlikely to participate in the Direct Action scheme. Firms may choose to participate for three reasons, all of which have issues. First, a firm may already have intended to invest in new equipment that reduces emissions. This could be for other cost-reduction reasons or because new capital equipment is naturally less energy intensive. In this case, if the firm is successful in receiving funds from the Emission Reduction Fund, the government is simply providing a subsidy that increases the firm’s profits. No new or additional carbon reductions result from the subsidy because the firm already intended to install the new equipment for other reasons. Second, a firm may participate if they could profit from advertising themselves as environmentally responsible. This incentive already exists but the subsidy from the Direct Action policy makes the investment more profitable and additional emission reductions could result. However, note again that the firm will only participate if profits can be increased. Third, a firm may participate if they can make a profit from the transaction itself. That is, if a firm can reduce emissions at a cost of, say, $15 per tonne but receive $20 per tonne from the government’s Emission Reduction Fund, they have profited from the transaction. Because market power is strong in the affected industries, such ‘gaming’ of the policy is highly likely.

However, it is more likely that firms will not choose to participate and indeed this has been the experience with similar programs in the past. For example, in the similarly structured Howard government’s Greenhouse Gas Abatement Scheme, only 30% of the funds were ever paid out



and there were failures with the projects originally approved (Ernst and Young, 2011). This lack of participation is not surprising from an economic perspective because, in general, the Direct Action policy hands back property rights over the environment to polluters.

One of the main criticisms of subsidy programs like the one the government is proposing is that society owns the environment and the policy transfers this ownership to firms who emit without impunity. Supporters of subsidy programs point out that firms have always had a defacto ownership of the environment anyway. That is, they have always been able to pollute, emit and degrade without consequence. However, the situation is different in Australia because those defacto rights were taken away from polluters when the carbon pricing scheme was introduced. From that point on, the affected firms had to pay for their use of the atmosphere. The government now plans to return those rights to emitters.

Of course, the Labor government’s Clean Energy Future policy was not ideal and some firms maintained the right to emit. The so-called emissions-intensive, trade-exposed industries, such as steel and aluminium manufacturing, received 60-95% of their carbon permits for free leaving them essentially at the same point as if there was no policy. However, the Direct Action policy goes further and handing property rights back to firms increases the wealth of the emitting firm’s owners and undermines the emission reduction target.

At a very fundamental level, a good environmental policy should reduce the profits of emitting firms. Whether the policy is a carbon tax, an emission trading scheme

or a regulatory instrument, the policy should provide an incentive to change behaviour and avoid the negative profit effects of the policy. A policy targeted to reduce the profits derived from carbon emissions is the only way to ensure a reduction in those emissions and meet Australia’s obligation to reduce carbon emissions. The government’s voluntary Direct Action policy does not achieve this aim.

ReferencesAustralian Broadcasting Corporation (ABC). 2011. “Tony Abbott joins 7.30”. http://www.abc.net.au/7.30/content/2011/s3173089.htm

Climate Institute. 2013. “Coalition Climate Policy and the National Climate Interest”. http://www.climateinstitute.org.au/verve/_resources/TCI_CoalitionClimatePolicyandtheNationalClimateInterest_15August2013.pdf

Doran, P.T. and Zimmerman, M.K. 2009. “Examining the Scientific Consensus on Climate Change”. Eos,TransactionsAmericanGeophysicalUnion, 90(3): 22–23. http://onlinelibrary.wiley.com/doi/10.1029/2009EO030002/abstract.

Ernst and Young. 2011. “Independent Evaluation of Alternative Climate Change Policies against the Australian Industry Group’s Climate Change Policy Principles”. http://pdf.aigroup.asn.au/environment/EY%20Ai%20Group%20Climate%20Change%20Report%20Final.pdf.

Liberal National Party (LNP). 2010. “The Coalition’s Direct Action Plan”. http://www.greghunt.com.au/Portals/0/PDF/TheCoalitionsDirectActionPlanPolicy2010.pdf.

Reputex, 2013. “Emissions Trading versus Direct Action: Achieving Australia’s Emissions Reduction Objectives”. http://awsassets.wwf.org.au/downloads/fs068_emissions_trading_versus_direct_action_30aug13.pdf

Wade, M. and Hutchens, G. 2013. “Tony Abbott’s New Direct Action Sceptics”. SydneyMorningHerald, October 28. http://www.smh.com.au/federal-politics/political-news/tony-abbotts-new-direct-action-sceptics-20131027-2w9va.html


http://www.abc.net.au/7.30/content/2011/s3173089.htm

http://www.abc.net.au/7.30/content/2011/s3173089.htm

http://www.climateinstitute.org.au/verve/_resources/TCI_CoalitionClimatePolicyandtheNationalClimateInterest_15August2013.pdf




http://onlinelibrary.wiley.com/doi/10.1029/2009EO030002/abstract

http://onlinelibrary.wiley.com/doi/10.1029/2009EO030002/abstract

http://pdf.aigroup.asn.au/environment/EY Ai Group Climate Change Report Final.pdf



http://www.greghunt.com.au/Portals/0/PDF/TheCoalitionsDirectActionPlanPolicy2010.pdf



http://awsassets.wwf.org.au/downloads/fs068_emissions_trading_versus_direct_action_30aug13.pdf



http://www.smh.com.au/federal-politics/political-news/tony-abbotts-new-direct-action-sceptics-20131027-2w9va.html




Winners of the ASX Sharemarket Game 2 have been decided, with Philippa Nolan from PLC Sydney becoming the first female national winner since 2003!

ASX runs the Sharemarket Game twice a year to give secondary school students the chance to get first-hand experience of investing in the sharemarket. Each syndicate is given a virtual $50,000 to invest and the winner is the syndicate that grows its investment by the most over the period of the game.

Game 2 ended on 30 October and female students performed strongly, taking out the top spots in New South Wales/ACT, Western Australia, South Australia and Victoria.

Philippa Nolan, the national winner, held a diversified portfolio of health care, consumer discretionary, financials, consumer staples and industrial stocks. She regularly read newspapers to keep up to date on the activities of the companies she had invested in.

“IchosesomestocksbecauseIwasfamiliarwithwhatthecompaniesdidsuchasBegaandCochlear.Itriedtodiversifyacrossavarietyofindustrysectorsincludinghealth,banking,leisureandfood.IoriginallyinvestedinaminingstockbutIsoldoutofthatbecauseIwasconcernedthatitmightbetoovolatile,” Philippa said.

Tony Hunter, ASX Head of Investor Education said: “Formorethan30years,theASXSchoolsSharemarketGamehasgivenparticipantspractical,real-worldexperienceinvestinginthemarket.Itwasfantastictoseefemalestudentsinthetoprankings,thoughallournationalwinnersdidexceptionallywelltobuildprofitableportfolios.”

2013 ASX Schools Sharemarket Game 2: girls take top spots

Amanda Mior, ASX Schools Sharemarket Game Coordinator

Philippa Nolan from PLC Sydney, National winner of the 2013 ASX Sharemarket Game 2

Craig Trigwell-Lindley from Dural High in New South Wales was runner-up. Craig focused his efforts on investing in companies outside the blue chip and resource sectors.

“Afterextensiveresearch,Idecideditbesttopurchaseshareswithalowerholdingvaluesoastomaximisemypercentagereturnonmyportfolio.Ikeptuptodateonmarketmovementsbyreadingmediaarticlesandpressreleases,” said Craig.

Karun Bhandari, Thomas McGowan, Zachary Munro, and Zachary Richmond from Marist College North Shore came 3rd, making NSW the top performing state with NSW students in the first three national spots!

The ASX Schools Sharemarket Game, sponsored by Citi, is available to students in Australian secondary schools. More than 1,000 teachers registered and 32,000 students played Game 2.

Registrations for the next Sharemarket Game will open on 13 February 2014, with the Game starting on 13 March and finishing on 21 May 2014.

For more info about the Game and to register to get a reminder email, visit www.asx.com.au/schoolinfo

http://www.asx.com.au/schoolinfo


Paul Krugman has written another entertaining book on the Global Financial Crisis titled - EndThisDepressionNow! He believes that “ending this depression is incredibly easy”- all governments need to do is increase spending. However, especially in Europe, they are doing the opposite by implementing austerity programs that are making the prospects of recovery even dimmer. Krugman believes we are still living “in a Keynesian world” and it’s the old Keynesian idea of expansionary fiscal policy that will drive economic recovery. Fiscal policy is the answer because interest rates are already so low in many countries that they cannot drop much further.

Krugman ridicules those that have departed from the Keynesian gospel. He quotes from Robert Lucas’ 2003 presidential address to the American Economic Association: ‘My thesis in this lecture is that macroeconomics in this original sense has succeeded: Its central problem of depression-prevention has been solved, for all practical purposes, and has in fact been solved for many decades’. In October 2005 Alan Greenspan was saying:

‘Recent regulatory reform, coupled with innovative technologies, has stimulated the development of financial products, such as asset-backed securities, collateral loan obligations, and credit default swaps, that facilitate the dispersion of risk … These increasingly complex financial instruments have contributed to the development of a far more flexible, efficient, and hence resilient financial system than the one that existed just a quarter-century ago.’

Both statements have been discredited with the onset of the GFC. Keynes’s description of financial markets characterized by investor irrationality, bubbles, and destructive

Krugman on the GFC and AusterityProfessor John Lodewijks

University of Western Sydney

speculation appear far more insightful: ‘When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done’.

The use of fiscal policy was also attacked. Krugman notes the following prominent economists as being anti-fiscal stimulus – Eugene Fama, John Cochrane, Robert Barro and Robert Lucas. Cochrane is on record as saying that fiscal stimulus was a ‘fairy tale that has been proved false’. In contrast, Krugman in chapter 7 of the book argues that the fiscal rescue packages in the US were clearly effective – the fiscal multipliers were much larger than predicted. His only regret was that the stimulus packages were too small and the tax cuts only half as effective in stimulating demand as increases in government spending. As a result, there are increasing numbers of long-term unemployed in U.S. Counting “hidden unemployment” – discouraged workers and part-timers – the overall unemployment rate in the US is around 15 percent and with a limited social safety net (the situation is far better in Europe) the consequences are severe. It is surprising to read that some of the anti-Keynesian economists at the University of Chicago claim that the increase in unemployment reflect a ‘diminished willingness to work’. The National Bureau of Economic Research states that the US recession started in December 2007 and ended in June 2009. During the down-turn GDP fell five percent, and the economy is still growing slower than potential.

There is still much more to be done to resuscitate the US economy, Krugman believes. The Federal Reserve has tripled the size of the monetary base since 2008 with its quantitative easing but the economy is still lack-lustre despite


GFC and Austerity

interest rates pushed down to the lower bound. Krugman believes the overhang of private debt is the key issue and that Irving Fisher’s debt deflation model is the key to understanding the depression we’re in. These ideas are developed in Chapter 3 on ‘The Minsky Moment’. Basically asset bubbles, particularly in property markets, burst and participants tried to sell assets to pay off their debt obligations – this is called ‘balance sheet deleveraging’. However, the Keynesian notion of the fallacy of composition comes into its own. What works at the micro level does not necessarily work in the aggregate macro level. If many people are selling assets to pay off debt then this leads to even greater falls in asset prices and hence the debt problem becomes more acute. The same idea is associated with the paradox of thrift – that if everyone attempts to save more it might actually lead to a fall in saving overall – or that if wages are cut generally to reduce unemployment it may lead to the opposite result through the reduced spending. Ultimately “Your spending is my income and my spending is your income”.

So what can be done? Krugman suggests that central bankers have aimed for too low a level of inflation. The inflation target can be increased. It might be better to aim for 4% rather than 2%. Higher expected inflation encourages borrowing and reduces the real value of debt. Those that would lose out would be the creditors and lenders that pushed the risky, toxic loans in the first place. On the fiscal side, governments can increase safety nets and the duration of unemployment benefits as well as reducing the mortgage burden. In chapter 12 he argues there is a need to reverse cuts to State and Local government spending on infrastructure and education and to generally restart cancelled projects.

Unemployment is simply due to lack of aggregate demand and rehiring school teachers and repairing roads will inject further stimulus into the economy.

Chapter 5 of the book moves away from macro-management to look at income inequality in the US. Krugman says that a disproportionate amount of the benefits of growth have gone to a handful of people at the top – the top 1 percent. Between 1979 and 2007 the top 1 percent saw their income rise 277.5%. Their after-tax income went from 7.7 percent of total income to 17.1 percent, which accounted for about half of the rise in inequality. In 2006 the 25 highest-paid hedge fund managers made $14 billion, three times the combined salaries of New York City’s eighty thousand school teachers.

Much of the book is taken up with the adverse effects of austerity in Europe. Krugman’s point is simple - the boom, not the slump, is the time for austerity. When, as in Greece, Ireland and Spain, unemployment accounts for almost a quarter of the labour force and nearly half of its youth, and in some countries GDP is still 20 percent below pre-crisis levels, there are no grounds for draconian fiscal austerity that will further depress the economy. In contrast, the European Central Bank should be buying the government bonds of euro nations, and accepting higher inflation rates, while fiscal policies should be more expansionary, particularly in countries like Germany. Chapter 9 deals with ‘inflation fear mongering’. Krugman says the fear of inflation is unfounded. Japan was stuck in deflation despite fiscal and monetary stimulus. If an economy is depressed there is no need to worry about the inflationary impact of monetary expansion; but even if inflation increased a little it would probably do the economy good in reducing debt


GFC and Austerity

levels. He points to the European Central Bank, the European Commission, OECD and the Bank for International Settlements as being the leading institutions that are advocating austerity.

Chapters 8, 10 and 11 of the book deal with the Euro crisis. Was it a fateful error for these European countries to move to a common currency? In terms of debt, it matters if you borrow in your own currency or someone else’s. Spain, Greece and Ireland’s debt is in euros. If you borrow in your own currency, the central bank can always buy federal debt, and you can devalue your currency. But if you can’t control your currency and devalue, then you have to reduce costs internally and wage cuts will be resisted. Individual countries have their own budgets and labour markets but not their own currencies and so may be condemned to stagnation and civil unrest when asked to use austerity programs to deal with their problems.

Should these countries in deepest problems then return to independent currencies? In other words, leave the euro. There are efficiency gains from sharing a currency but

there is also the loss of flexibility if there are asymmetric shocks. Originally interest rates in southern Europe were higher due to concerns about devaluations and defaults but when they adopted the Euro interest rates fell and this led to massive borrowing and housing bubbles, unit labour costs rose and manufacturing became uncompetitive and trade deficits increased. The eventual collapse of the bubble led to high budget deficits, with the bank bailouts, and sovereign debt problems. While Europe does about 60 percent of their trade with one another they have limited labour mobility or fiscal integration – so these mechanisms were not available to deal with the crisis. However, any attempt to ditch the Euro at this stage might well run into legal problems, runs on departing country’s banks, and wider political ramifications. Krugman believes the European Central Bank needs to be far more accommodating in assisting those countries in need than it has been so far.

ReferencePaul Krugman (2013) EndThisDepression

Now! Norton: New York & London.

Books for ReviewEBE NSW welcomes books for review. Please send books to:

EBE NSW 3B Smalls Road RYDE NSW 2112


Saturday 13 July 2013The first nervous moment of the trip happened even before we left – would Sandhia, my Business Studies teacher, be able to fly out of fog-bound Canberra to get to Sydney in time for the Shanghai departure? Fortunately, the fog did not delay her flight and all went according to plan. A bit of turbulence near Taiwan reminded us that there were seasonal typhoons passing through the East China Sea, but all was calm in Shanghai when we arrived late Saturday afternoon. We were greeted by Helen, who took us to the Jin Jiang Hotel in the ‘inner ring’ of Shanghai. Given how enormous Shanghai is, this was nearly an hour’s journey in itself but it was fascinating to see the suburbs stretching into the far distance, and to admire the incredible road system. After our long day of travel we didn’t feel up to exploring near the hotel for dinner, so we took the room service option (delicious). The temperature outside even at 9pm was still about 30o, quite a contrast to zero degrees the previous morning in Canberra.

Sunday 14 July 2013Satay noodles and congee for breakfast was a new experience, and over the next few days we tried all sorts of interesting breakfast food from the various international options on offer at the hotel. We met our lovely guide Vera, who was with us for the first three days. First we went to

CPA Australia – Plan Your Own Enterprise Competition 2012

National Division 1 Winner Trip to Shanghai, 13–19 July 2013

Matthew Bennett The Canberra College, ACT

the esplanade adjacent to the many historic buildings fronting the Huangpu River, where we had a fantastic view of the Pudong district across the river. The boat traffic on the river gave a glimpse of Shanghai as a working port, and contrasted with the modern skyscrapers of the financial district.

We then hopped in a taxi and went under the river to visit the Shanghai World Financial Centre, the tallest building in Shanghai and third tallest in the world – although this title will be short-lived, as there is an even taller building being constructed right next door (see photo above). Vera told us that we were lucky that the weather was a bit windy as this meant that we had blue skies and could see for miles from Level 100 of the SWFC. The view was amazing, and so was the glass floor, which sent a chill down my spine. None of us love heights so much, but we got up close to the windows to look straight down for a once in a lifetime view.


Trip to Shanghai

Another taxi took us back across the river for lunch and shopping. This was our first experience of the tremendous variety of food and we tried many things we’d never seen before. A favourite was what Vera called “fried cream”. Possibly not recommended by the health authorities, but delicious. The food court was incredibly busy, as was the whole district. It seemed that on Sunday, many families were out for a stroll, in spite of the very hot day. We shopped for souvenirs and learned how to barter even though we spoke no Chinese, by using a calculator to go back and forth with different pricing proposals. It’s hard to know if we got the good end of the deal, but one thing is for certain, and it’s that Claire (Mum) and Sandhia burst their budget for that day. We then headed back across the crowded Jiuqu Bridge, the “Bridge of Nine Turnings” (photo below) which crosses a lily pond full of gigantic goldfish. We toured the Yuyuan Garden, which was an impressive

mix of very old buildings and a cleverly designed garden that was a series of ‘rooms’ with many entrances and exits, so you never quite knew where you were going. Some of the trees were up to 400 years old, but evenin the shade, it was very hot. We needed air conditioning, so it was off to the mall, via the underground train. An interesting shopping experience was trying to buy shoes for my size 46 feet, which are apparently abnormally big in China. After finally finding something suitable, it was time to crash into bed and get a good night’s rest for tomorrow.

Monday 15 July 2013Our first stop was Austrade, where we met Trade Commissioner Luisa Rust and her colleague Lawrence Jiang, who discussed the opportunities that China’s economic growth has to offer Australian business and the role that Austrade plays in guiding business investors in the Chinese market. I was invited to tell our hosts about my PYOE business plan and we discussed the suitability of a business like Plug’n’Play for a market as big as Shanghai. The discussions we had were very helpful in guiding my thinking about how the business would have to respond to the challenges of servicing such a market, and I could already see how it could evolve. I really appreciated the time that Luisa took not only to read over my plan, but also to apply her knowledge of China and chat about it in detail.

We then headed to the electronics market, where there was an overwhelming variety of computers, phones and other gadgets, but most of them were surprisingly more expensive than what we could get them for in Australia. Some quick refreshment in an up-market, full table service restaurant (a Pizza n Hut!) prepared us for our next


Trip to Shanghai

meeting with the CPA. We met Kenny Lam and Bruce Li to discuss the CPA’s place in Asia and the ways that it assists businesses. Once again, our hosts were very generous in discussing in detail the PYOE business plan and passing on ideas about its possible application in different markets. We also chatted about the different ways of becoming a CPA and theopportunities that this accreditation affords. This will be a great motivator to me in my Bachelor of Finance studies.

Our meeting was followed by a shopping trip in the historic district of Jing’an, where the many tiny shops had beautiful handmade goods. We met Charles and Cathy, who was our guide for the last two days, for dinner. We learned that in Shanghai at least, rice is not taken with the

Matthew,KennyLam(CPA)andSandhia

SandhiaPrasad(CanberraCollegebusinessteacher),MatthewBennett,LuisaRustandLawrenceJiang(Austrade)

meal, but ordered at the end if people feel like it. The food that Charles chose was very enjoyable and it was great to chat with our hosts, who were very interesting and informative. The three of us then caught a taxi back to the hotel on our own, enabling Mum to experience the often heart-stopping traffic from the front seat. The mix of cars, scooters, bicycles and pedestrians appears slightly chaotic, but somehow everyone is quite patient and forgiving and it all seems to run smoothly.

Tuesday 16 July 2013We spent the morning at East China Normal University. Charles had kindly arranged a change of itinerary when he found out I was now at university in Australia. Although it was semester break, he had arranged for us to meet a teacher, Alison, and three second year students, Owen, Regina and Flora, who are studying similar subjects to those I study at ANU. They are undertaking a joint program with La Trobe University, so they spend the last two years of their four year course studying at La Trobe. We had a great chat about the different education systems and what their experience might be like in Australia. We then walked around the university campus (past a huge statue of Chairman Mao) and they told us about how most of the students live on campus, sharing 4-person rooms. The University originally trained teachers, but now has a broader focus. Nonetheless, the motto was on display: “Seek truth, foster originality and live up to the name of teacher”. Sandhia grabbed a photo of that!

Charles took us to an enormous lunch at a restaurant near campus. Again, it was a very hot day, so we appreciated the opportunity to sit down and soak up the cold drinks and aircon. We found the amount of food on offer overwhelming. Charles wanted us to try out all sorts of things, so often when we


Trip to Shanghai

thought the meal was done, Charles would then tell us there were another six dishes on order! We learned to pace ourselves, so that we had room to try a bit of everything.

In the afternoon, Vera took us to the Shanghai Museum, where we all went separate ways to different galleries for an hour or so. The displays were magnificent, particularly the incredibly intricate and ancient jade work, and the wide array of historic coins. We took another taxi to Helen’s home, an apartment in the ‘middle ring’ of Shanghai, where we met her young daughter and parents, who kindly gave us afternoon tea. A short walk down the street took us to an interesting suburban restaurant, where there was an extraordinary array of food on display, and the cooking was done in huge pans, boiling away with mysterious contents. We declined the snake wine (a jar of wine, with a snake in it – “good for your body”) and viewed the live turtles, chickens and snakes awaiting their fate. The food was again delicious, including the pork-stuffed water snails. Helen told Mum that the food style in Shanghai tends to be sweet (dishes like baked egg, and ‘fried cream’ come not as dessert but along with everything else), but her personal preference was the hot Sichuan style that is also popular in Shanghai.

Wednesday 17 July 2013The morning was spent at the China Art Museum, Shanghai, located in what was the China Pavilion for the 2010 World Expo. This amazing building is modelled on the shape of a pagoda, but on a monumental scale. The exhibition was very interesting, and although we only saw a fraction of the extensive collection, it gave us an insight into the historical and political forces that have shaped Shanghai and China. A change of schedule in the afternoon saw us forgo the urban planning exhibition in favour of a special visit arranged by Charles to the Shanghai Stock Exchange. We were told that the exchange moved into the building ten years ago, but due to how rapidly online trading has become the norm, the vast trading floor was only used for two years. It now stands empty, but nonetheless is impressive. We discussed how the stock exchange works in China, which is a very controlled market, and how this is changing. I very much appreciated the trouble taken by Charles to arrange our visit to the Exchange, which is not usually open to casual visitors.

Sandhia and Claire saw out the day with some shopping in a mall close to our hotel, where they were treated to a 20 minute tea- making demonstration (in a supermarket) and got to taste three of the best green teas ever. They were very keen to buy some, until


Trip to Shanghai

they were told the price! It really was the best. We then spent the evening on a cruise on the Huangpu River, viewing the amazing light show that the different buildings put on. Some are

huge displays where the entire façade of the building is like a television screen. The city looked very beautiful at night and we thought that venturing out without a guide was a great way to spend the last night in Shanghai. Just as well Cathy and Vera had written down the hotel address though, as the taxi driver had no idea what we were trying to say!

Thursday 18 July 2013We spent the morning in the Xintiandi district, which is a very stylish and historic area of 2-3 storey buildings recently redeveloped into up-market shops and restaurants. We enjoyed window shopping for a Lamborghini, and found a shop with fantastic photos of Shanghai, which were affordable souvenirs for our last day. We visited the site of the First National Congress of the Communist Party of China, and were able to stand in the very room where the first meeting was held. This was quite a special moment in our trip. Cathy found us another excellent restaurant for lunch, and we experienced a chicken dish with more extremely hot red chillies than we’d ever seen before on one plate. Once again, we loved the glutinous rice dumplings, and should have ordered the “snowing tomatoes”, just to see what they might be. We headed back to the hotel to pick up luggage and then were taken out to the airport, where we said farewell to Cathy. A long and sleepless overnight flight to Sydney was followed by

a bumpy flight back to Canberra’s lovely winter.

ConclusionThis was a once in a lifetime trip. Although I might return to Shanghai in the future, many of the people I met and the places we visited were unique to the PYOE experience. I greatly appreciated having met the Austrade and CPA representatives and thank them for the time they took in genuinely engaging with my business idea and my plans for the future. In particular, I loved meeting the students at the East China Normal University and exchanging experiences of first year uni and life in general. Shanghai is an amazing megacity and I thank our guides and hosts, Charles, Vera and Cathy for their kindness, knowledge and patience in taking us around and making sure we were given a great experience of their home city.

I would like to thank all those associated with the 2012 PYOE competition for the exceptional experience and opportunities it has given me, including the continuing contact

with Mr Matt Hailes, General Manager of the ACT Division of the CPA The staff of Business Educators Australasia and NGT Travel were wonderfully helpful in arranging the trip. I particularly thank my Canberra College Business Studies teacher and travelling companion, Ms Sandhia Prasad, for being an inspirational and dedicated teacher and for encouraging me to enter the PYOE competition in 2012, and I wish all future competitors the best of luck.


Are we moving towards a cashless society –

or simply less cash?Steve Worthington

Associate at Australian Centre for Financial StudiesDISCLOSURE STATEMENT: Steve Worthington does not work for, consult to, own shares in or receive funding from

any company or organisation that would benefit from this article, and has no relevant affiliations.

Theincreasinguseofdebitandcreditcardsaswellastheintroductionofcontactlesspaymentsystemsmeanscashisbecomingalessessentialpartofsociety. Source:flickr/craigregular

There is mounting evidence that consumers are making less use of cash, while the use of electronic payment methods, particularly debit cards, continues to increase. But are we heading towards a cashless society?

The release in October 2013 of the Reserve Bank of Australia’s Payment Systems Board annual report, gave more “hard” evidence of the trend towards a cashless society. In the year 2012/13, the average value of a debit card transaction continued its fall to A$56,

as card payments replace cash for low-value transactions.

This trend will become more pronounced as contactless cards continue to be introduced and adopted by both consumers and merchants in Australia. These contactless payments facilitate faster transactions at the Point-of-Sale (POS), when compared to traditional card payments, where the card must be inserted or swiped at the POS terminal and then authorised via a PIN or signature.

http://theconversation.com/profiles/steve-worthington-138

http://theconversation.com/profiles/steve-worthington-138

http://www.rba.gov.au/publications/annual-reports/psb/2013/pdf/2013-psb-ann-report.pdf




Contactless cards use near-field technology to achieve a “tap and go” payment environment so there is no need to enter a PIN or sign for a purchase under A$100. The use of contactless cards will be further encouraged when signature verification is phased out from the end of June 2014. Thereafter verification will only be facilitated by the use of a PIN or by contactless verification, if the purchase is under $100.

The most common way that individual Australians access cash is through the Automated Teller Machine (ATM) network, of which there were just under 35,000 machines in Australia in June 2013. These accounted for 60% of the total value of cash withdrawals in 2012/13, however the value of ATM withdrawals fell by 3% in that year and the

average value of an ATM withdrawal is now A$185.

The next most common way of acquiring cash is via an EFTPOS (electronic funds transfer at the point-of sale) cash-out. In 2012/13 cash-outs (either with or without a related purchase) accounted for around a quarter of the total number of cash withdrawals by volume, but only 7% by value; the average value of an EFTPOS cash-out being $63.

However in contrast to the fall in the value of ATM withdrawals in 2012/13, the use of cash-outs continued to grow and their value was 8% higher in 2012/13. There were by June 2013, just under 780,000 EFTPOS terminals in Australia, an increase of 15,000 terminals over the previous 12 months.

Cashless Society

Recent research published by the Australian Centre for Financial Studies (ACFS), looked at the trends leading towards a less-cash society, if not a cashless society over the past 10 years. Comparing June 2003 with June 2013, (see table above), reveals that while the number of ATM withdrawals has grown over the past decade in terms of both value and volume. However this growth has been overshadowed by the increase in both the value and volume of debit card purchases.

Cash-out transactions at the POS have also increased substantially in both value and

volume and by June 2013 the combined value of debit card purchases (including cash-outs) was A$16.04 billion, considerably higher than the value of ATM withdrawals at A$11.43 billion. Thus consumers appear to be using their debit cards more frequently, both to pay at the POS and to access their cash at the POS, rather than via an ATM.

The advent of the increased number of contactless cards and EFTPOS terminals that accept “tap and go” payments, will further reduce the need to make payment at the POS by cash. As contactless and mobile payments becomes more ubiquitous,


Cashless Society

they will provide both convenience for the consumer while reducing the cost inefficiencies of cash for merchants. Thus adding to the likelihood of a less-cash society.

Will this then lead onto the cashless society – a society where notes and/or coins are no longer a weight in our clothing or purses and no longer a feature of our everyday lives?

Opinions vary, but cash does have some ongoing advantages over non-cash payments. Firstly cash has widespread, if not ubiquitous, acceptance and is still particularly useful for small value transactions, for example a coffee. Secondly cash is anonymous; it does not leave a record, be it an electronic or paper “trail”.

This still has an appeal, particularly in the “grey” or “black” economy where cash is still king. Who has never asked the question: “will it be cheaper for cash?”

So while we are moving relentlessly towards a less-cash society, for the foreseeable future we will not become a cashless society. Cash may well have a resilience that surprises many of us, in much the same way as despite the advent and widespread take-up of internet banking, there is still a large bank branch network in Australia.

* This article was originally published at:https://theconversation.com/are-we-moving-towards-a-cashless-society-or-simply-less-cash-20493 on 29 November 2013

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https://theconversation.com/are-we-moving-towards-a-cashless-society-or-simply-less-cash-20493



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Will your next phone be Fair Trade?Robbie Fordyce, PhD candidate, School of Culture

and Communication and Institute for a Broadband-Enabled Society at University of Melbourne

Luke van Ryn, PhD candidate, Media and Communications at University of Melbourne

DISCLOSURE STATEMENT: Robbie Fordyce owns a Nokia phone from about three years ago. It has no smartphone features. Luke van Ryn is an ambivalent owner of an iPhone 5.

Choosingamobilephoneisn’tjustaboutnewfeatures– itshouldalsobeaboutethics. Source:Fairphone

Organic, cage-free or home-grown? We think about our purchasing ethics in many areas of daily life, but not often about technology.

As with any product, though, we should think about the effects of our actions on workers and the environment. The idea of cage-free phones may sound silly, but for certain types of workers it’s a stark reality.

A mobile phone contains rare minerals that are often linked with violent conflicts. It is produced in difficult conditions by low-paid factory workers. (And if you’d like to play a game showing the production story of an iPhone, have a look atPhoneStory.)

A phone is also difficult to recycle safely at the end of its lifespan.

Technologies like mobile phones are often, by nature, small objects purchased infrequently. It’s difficult to put our ethics on the line when the object seems so meagre in size and when you don’t buy one that often.

And it often feels like we don’t have a lot of choice in the ethics of the phones

we buy. All mobile phones are produced using the same materials, and some of these come from warzones. So choosing between Samsung and HTC can feel like choosing between a punch in the face and a kick in the guts.

Part of the problem is that we really feel like we have no choice but to buy a phone. Can we realistically expect to “go without” a phone, when our work, family and friends expect us to be available at all times? And when our carrier invites us to upgrade our phone for next to nothing every two years, what incentive do we have to slow down?

Introducing the Fairphone & AraThe Fairphone is one solution that has already sold out on its first production run. The sole marketing strategy for the Fairphone has been a detailed examination of the production process.

Their website provides photos and other evidence of attempts at ethical sourcing.

https://theconversation.com/rare-earths-and-our-insatiable-appetite-for-digital-memory-20938

https://theconversation.com/sec-takes-on-humanitarian-role-over-congos-conflict-minerals-9129

http://www.theguardian.com/technology/2013/sep/05/workers-rights-flouted-apple-iphone-plant

http://www.phonestory.org/

https://theconversation.com/e-waste-the-high-cost-of-high-tech-4378

http://westspacejournal.org.au/article/winter-2013/worserer-and-worserer/

http://www.gizmag.com/first-look-at-fairphone/29126/

http://www.fairphone.com/blog/


TheItsyBitsySpider

Fair Trade

Using those, you can make up your own mind about the ethics.

The 25,000 devices sold represent a very small proportion of the roughly 1.7 billion phones sold last year. And the Fairphone is not available at all in some markets, including Australia and the United States (though if you have a friend in Europe you can have them pick one up for you).

Nonetheless, the sales figures so far suggest consumers are getting interested in finding ethical technologies.

Will this act as a trigger for other producers to become more ethical?

Motorola has announced “Ara”, their attempt to provide a less destructive alternative. The Ara phone is modular, meaning that people can use 3D printers from their homes to replace core technological components as needed and switch aesthetic parts such as the housing at leisure.

Motorola is bargaining that this will reduce the overall impact of our love of mobile phones.

Fairphoneprototype(left)andaniPhone. Source:WaagSociety

But at the same time, Ara encourages us to throw away phones in dribs and drabs. Because the phone is based on the idea that we can replace any part at any time, it may still generate more waste over time than other gadgets.

As consumers raise concerns about the ethics of their devices, producers are gradually raising their production standards. Apple, Microsoft and Nokia have joined the Public-Private Alliance for Responsible Minerals Trade, which is working to monitor, reform and document the extraction and trade of minerals such as coltan.

While the effects of the Alliance to date are unclear, it at least suggests that progress is possible.

The Fairphone and Ara are small examples, but hopefully they are the start of a growing change in the way we make and use mobile phones. They give us an opportunity to be more ethical in an area in which our choices are often limited.

* This article was originally published at:theconversation.com/will-your-next-phone-be-fair-trade-21190 on 6 December 2013

http://mobithinking.com/mobile-marketing-tools/latest-mobile-stats/a#phone-shipments

http://mobithinking.com/mobile-marketing-tools/latest-mobile-stats/a#phone-shipments

http://motorola-blog.blogspot.co.uk/2013/10/goodbye-sticky-hello-ara.html

http://www.3dsystems.com/press-releases/3d-systems-and-motorola-partner-modular-custom-smartphone

http://www.3dsystems.com/press-releases/3d-systems-and-motorola-partner-modular-custom-smartphone

http://www.resolv.org/site-ppa/

http://www.resolv.org/site-ppa/

http://en.wikipedia.org/wiki/Coltan

https://c479107.ssl.cf2.rackcdn.com/assets/conversation-full-logo-cbaac7752ab98f2473e3fd769fa885a6.png


President’s Report to the 2013 Economics and Business Educators NSW Annual General Meeting

(21 October 2013)It is my pleasure to present the Economics and Business Educators NSW (EBE) President’s Report for 2013.

Since the last EBE Annual General Meeting (AGM) on 22 October 2012, we have experienced a positive and successful period overall as we have sought to serve our members and support them as they teach the Board of Studies NSW Business Studies, Commerce, Economics and Legal Studies courses, providing them with high quality educational services. EBE membership numbers continue to be strong and have increased this year compared to last year as shown in the EBE NSW Financial Statements for the year ended 30th June 2013. Our members are made up of teachers in both government and non – government schools, and some student teachers.

EBE would be unable to achieve its vision and goals without the knowledge, skills and time of the educators who are members of the Board. Ten educators made up the Board of Directors this year:• Joe Alvaro• Andrew Athavle• Kate Dally• Bronwyn Hession• Stuart Jones• Kate Keeley• Ron Kelly• John Lodewijks• Pauline Sheppard• Rhonda Thompson

We had a diverse Board this year with

educators from government, Catholic, Christian, Muslim and independent schools, as well as the Board of Studies NSW and universities. One of our directors, Bronwyn Hession, is also President of our peak national subject association, Business Educators Australasia, of which EBE is an affiliate member. Our connections to BEA are important to teachers and students in NSW because this is the channel through which we increasingly have input in matters relating to the Australian curriculum and other critical national matters which impact on us here in NSW. I also sit on the Board of the Professional Teachers’ Council NSW, of which we are a member organization. This diversity has enabled EBE to better serve the interests of all members and remain strategically focused as it carried out its activities and faced the educational challenges of this year. Full Board meetings have been held regularly and Board members have also been able to communicate regularly online. Some Executive Board meetings have also been held.

I would like to thank all the Board members for their work and generosity. It is not always easy juggling the demands of a full time job and carrying out the important and useful work we do for EBE on a pro bono basis, and I would like to acknowledge the contributions of all Board members. I also add a vote of thanks to Board members who carried out the added responsibilities as an Executive Board member. Thankyou to Kate Dally and Stuart Jones as Vice – Presidents and Pauline Sheppard as Company Secretary.


Responding to curriculum change remains an ongoing feature of our work. EBE is well placed to respond to curriculum developments as we have members who are teachers in schools, active in the classroom, committed to their students and passionate about the curriculum. This year we have faced significant developments from the Australian Curriculum, Assessment and Reporting Authority (ACARA) in the area of the Australian Curriculum: Economics and Business and the Australian Curriculum: Civics and Citizenship. We have enabled members to be informed about these developments and provided opportunities for them to provide feedback to EBE.

EBE consulted with members about the ACARA Draft Shape of the Australian Curriculum: Economics and Business through a webinar presentation. We also held a webinar in order to consult with members about the ACARA Draft Australian Curriculum: Economics and Business and prepared a survey for members to fill in. Both webinars are available on the EBE website enabling members who were unable to attend the webinars with an opportunity to access them. We are grateful to EBE Director John Lodewijks for his contributions to these webinars. As a member of the ACARA expert advisory group, John has had oversight of the development of both the draft shape paper and the draft curriculum. He was able to bring this expertise to the webinars above, giving an overview of both documents and answering questions from participants.

EBE also participated in the Economics-Business Reference Groups formed by the Board of Studies NSW as part of its consultation process with regards to the ACARA Draft Shape of the Australian Curriculum: Economics and Business and the ACARA Draft Australian Curriculum: Economics and Business

AGM 2013

Following these consultation activities EBE submitted their responses to both the ACARA Draft Shape of the Australian Curriculum: Economics and Business and the ACARA Draft Australian Curriculum: Economics and Business. We are grateful to EBE Director Bronwyn Hession who led the writing of these responses which were thorough and constructive.

EBE also sought views about the ACARA Draft Shape of the Australian Curriculum: Civics and Citizenship and the ACARA Draft Curriculum: Civics and Ciztizenship. EBE submitted responses to both of these important documents to ACARA.

EBE will continue to actively monitor and respond to developments in this curriculum development process and contribute to what we hope will be a quality, satisfying and future focused curriculum for our members and their students.

EBE continues to provide members with access to effective, appropriate, classroom focused and cost friendly professional development courses to assist teachers in providing meaningful learning experiences in the classroom, especially in this critical period of change in education. The attached “Economics and Business Educators NSW 2013 Events Calendar (as at September 2013)” shows our busy professional development program since the last EBE Annual General Meeting. We are especially committed to supporting beginning teachers as they face the challenging and demanding early years of teaching. Event evaluations indicate that the content of these events are meeting the professional learning needs of teachers and student teachers attending. EBE Directors Andrew Athavle, Kate Dally, Bronwyn Hession, Rhonda Thompson and myself designed and conducted presentations at various conferences throughout the year, enabling members to benefit directly from


AGM 2013

the expertise of EBE Directors at these conferences. I thank these directors for these contributions and all our other conference speakers this year.

EBE (through the Professional Teachers’ Council NSW) is a NSW Institute of Teachers’ (NSWIT) Endorsed Provider of professional development for the Maintenance of Accreditation at Professional Competence and a number of our members use professional development hours from our events to meet their accreditation requirements with the NSWIT. Courses that are endorsed are advertised on the NSWIT website which enables us to benefit from this additional method of promotion. I would like to thank Kate Keeley and Bronwyn Hession for working with the Professional Teachers’ Council NSW to ensure that our professional development courses were NSWIT endorsed.

I would like to thank EBE Director Stuart Jones for all his work as Publishers Coordinator and liaising with publishers during the planning of our professional development events this year, which provided EBE with an additional source of revenue.

Further professional development was available to members through the EBE NSW Helpdesk ([email protected]) enabling them to access directors for advice and assistance in relation to the teaching and learning of Business Studies, Commerce, Economics and Legal Studies this year.

EBE continued the selling of the following EBE NSW publications this year which are designed to enhance teaching and learning programs in schools:• The EBE Book of Economics Questions for

HSC Students • The Yellow Book of Business Terms• Annual EBE Trial HSC Examinations

(Business Studies, Economics and Legal

Studies). The EBE Trial HSC Examinations give directors another opportunity to share their expertise and experience with members. This year the following directors were involved with designing the examinations:

Trial HSC Examinations Coordinator – Kate Dally

Business Studies trial HSC examination – Joe Alvaro, Rhonda Thompson and Pauline Sheppard

Economics trial HSC examination – Bronwyn Hession, Stuart Jones and John Lodewijks

Legal Studies trial HSC examination – Joe Alvaro

The examinations are a major annual publication project for EBE and the deadlines always seem to coincide with very busy periods in the school year. I thank my fellow directors above for their commitment to this work. The examinations continue to sell well and ensure that students are accessing high quality assessment material.

“The EBE Journal” continues to be provided in an electronic format which is accessible by members on the EBE website. Past issues of the journal are also available on the website, which has enabled us to enhance the website with regards to the provision of professional reading and resources. I would like to thank our Journal Editor Kate Dally for all her work with “The EBE Journal” and all the contributors to the journal this year. EBE NSW has a long history of providing a journal to members and we are committed to continuing this EBE membership benefit into the future.

We continued to run the CPA Australia Plan Your Own Enterprise Competition this year in association with Business Educators Australasia, which enables students in NSW and around Australia to develop their business planning skills. I would



like to thank our PYOE NSW Coordinator, Rhonda Thompson, for all her work with the competition this year, including the coordinaton of the NSW shortlisting and judging processes. EBE is grateful to Cheryl Brennan (EBE NSW Member), Kate Dally, Stuart Jones, Anthony Matis (CPA Australia) and Michael Hanarhan (Principal at Hanrahans Accounting Services) for their involvement in these processes. As usual, the administration work from our office staff, Annette Davies and Alan Hearle was invaluable.

We were able to recognize the PYOE NSW winners at our NSW awards ceremony on 10 October 2013 with our special guest, Michelle Cook, Senior Relationship Manager, CPA Australia. I congratulate the following winners and their schools from NSW:– Division 1(Individual entry) – Ella

Bricknell, Pacific Hills Christian School, NSW for her business plan, “Captured Memories”.

– Division 2 (Group entry) – Keertana Avalur, Shevon Lau, Dana Royle from MLC School Burwood, NSW for their business plan, “Pasithea”.

Prizes and certificates were awarded to these student winners and their schools.

We were delighted to discover that at the Australasian judging and awards ceremony in Melbourne on 16 October 2013, Ella Bricknell, our NSW Division 1 winner, also ended up being the national winner of the competition. I congratulate Ella on this significant achievement and her national award. Congratulations also to Jack Lowrie and Will Campbell from The Hutchins School, Tasmania who were the national Division 2 winners for their business plan, “Kart Park”.

CPA Australia sponsors the PYOE Competition and EBE acknowledges its support of students and teachers through

AGM 2013

this competition. This competition is an excellent way for EBE to interact directly with students of the courses we represent and their parents.

The EBE website continues to be a major source of up to date information in relation to the vision and goals of EBE NSW. We outsource the upkeep of the technical side and design of the website to our webmaster, Rob Berry, while maintaining oversight of the content that appears on the website. We thank Rob for his assistance with the website and for his knowledge and skills in this area. Bronwyn Hession coordinates the content that appears on the website and I thank her for all the time spent on ensuring the website is up to date and relevant to the needs of our members.

As can be seen in the attached document, “Economics and Business Educators NSW website statistics as at 15/10/2013”, there has been an increase in the number of visitors to the EBE website this year.

While still maintaining the use of mail (via Australia Post) and fax to communicate with members, we are increasing our communication with members through emails which is a quicker and more cost friendly method of communication.

We have also continued to produce regular e-newsletters which are emailed to members (and made available on the EBE website), enabling members to receive all the latest news with regards to the teaching and learning of Business Studies, Commerce, Economics and Legal Studies directly into their email inbox.

EBE has continued its links with the University of Sydney Business School and The University of Technology Sydney Business School. We held two professional development courses this year in association with the University of Sydney Business School as shown in the attached “Economics


AGM 2013

and Business Educators NSW 2013 Events Calendar (as at September 2013)” and Professor Roy Green (Dean, University of Technology, Sydney) was a keynote speaker at the 2013 EBE Annual Conference and contributed to “The EBE Journal”. It is important that we seek opportunities such as these to work with other organizations, such as universities, who are able to contribute to our vision and goals and enable them to gain the benefits for their own organization from working with us. We thank these universities for their support.

I represented EBE at the 12th Annual Meeting of Professional Teachers’ Associations and Tertiary Educators, together with Officers from NSW Department of Education and Communities Curriculum and Learning Innovation Centre: Human Society and its Environment (HSIE) on 19 November 2012. This combined meeting had the title, “Change Agents Working Together: Australian Curriculum, HSIE and Asia”. HSIE professional teaching associations and tertiary educators in the area of HSIE came together to discuss the Australian Curriculum, learn from each other and discuss ways HSIE professional teaching associations could support HSIE pre-service teachers. Tertiary educators and professional teachers’ associations such as EBE are an essential link between teachers, schools and the curriculum. EBE recognizes the importance of connecting with the future teachers of the courses we support who are studying at university and promoting the importance to them of becoming a member of EBE. This year we continued to offer a student teacher membership category which is heavily discounted and student membership discounts to all our professional development courses.

EBE made a submission to the NSW Government Discussion Paper “Great Teaching, Inspired Learning” in November

2012. The submission is available on the EBE website.

EBE continues to be committed to having its voice heard as government education policies which impact on our members develop. The NSW Government has begun implementing policies based on “Great Teaching, Inspired Learning” and EBE will continue to monitor developments which impact on our members.

One of our directors, Bronwyn Hession, was recognised with a national award since the last EBE Annual General Meeting when she was presented with an Australian Professional Teachers Association Meritorious Contribution to the Profession Award by Peter Garrett (who at the time was the Federal Member of Parliament for Kingsford Smith and Minister for School Education, Early Childhood and Youth ) at a ceremony held on 1 December 2012 at the Sydney College of the Arts, Rozelle. This is a significant national award which recognises Bronwyn’s outstanding contribution to education and EBE.

On the 27th of November 2012 at the 2012 Professional Teachers’ Council NSW Presentation Evening , I accepted a Certificate of Appreciation on behalf of the EBE Board of Directors which was presented to EBE by Mr TomAlegounarias,BoardofstudiesNSWPresident,“in recognition of the association’s voluntary contribution during 2012 to quality education, the students of NSW and the teaching profession”.

With regards to the EBE office, a growth in enrolments at Leichhardt Public School resulted in the Department of Education and Communities resumption of the Professional Teachers’ Council NSW building at Leichhardt which was home to EBE until the end of 2012. There was a period of time when we were homeless. However due to our dedicated office staff, Ms Annette


Davies and Mr Alan Hearle, working from their homes, we were able to continue serving members under what proved to be difficult circumstances. Fortunately we have now found a new home. In June 2013, EBE signed a lease with the NSW Department of Education and Communities and now has its office located at 3A Smalls Road Ryde NSW.

We are grateful to our two office staff members, Annette Davies and Alan Hearle, for their knowledge and skills which help EBE to achieve its vision and goals. Their tireless support of the Board and the membership is genuinely appreciated, in what has been an especially challenging year for the EBE office.

Despite our many achievements we cannot afford to be complacent. Many challenges await us as an association as we face a new year:• Recruiting more Board members who will

be able to act as subject experts in one or more of the courses we support and achieving a more even spread of directors across these courses.

• Continuing to pay attention to developments in the area of education which impact on our members at the Federal and NSW Government levels and making our views known when appropriate.

• Monitoring the development of the Australian Curriculum: Economics and Business and Australian Curriculum: Civics and Citizenship so young Australians and their teachers will be able to access high quality, relevant and future – oriented courses.

• Making more use of the webinar method of delivery for professional development courses, especially in relation to making our professional development courses more accessible to our members who live outside of Sydney.

• Completing the revision of “ The EBE Book of Economic Questions for HSC Students”

AGM 2013

which will contain additional features and updated content to reflect changes in the current Board of Studies NSW Economics syllabus.

• Adopting strategies to increase the traffic to the journal section of the website so it is read by more members and increasing journal contributions made by members which would make the journal less demanding to produce.

• Enhancing the members’ only section of the website.

• We need to investigate our current business structure and assess how effectively and efficiently it is meeting the needs of our members.

• We need to invest our finances more wisely so as to generate greater returns and to consider further ways we can use funds to add more value to membership of EBE.

• We must be on a path of continuous improvement, maintain high standards in all we do and continue to encourage and develop excellence in the teaching and learning of Business Studies, Commerce, Economics and Legal Studies.

EBE has again made a very significant contribution to education this year and has played a part in furthering the teaching profession. I again thank all the EBE directors and the EBE office staff for their efforts this year and for assisting me in my role as President. I also thank all the EBE members for their support of EBE. I look forward to working together again as we begin a new year.

Joe Alvaro Economics and Business Educators NSW President21st October 2013

* Two documents attached to this report: – “Economics and Business Educators NSW 2013 Events Calendar (as at September 2013)” (2 pages) – “Economics and Business Educators NSW website statistics as at 15/10/2013” (1 page)


ECONOMICS & BUSINESS EDUCATORS NSW(An affiliate member of Business Educators Australasia Inc.)

Office Address : 3A Smalls Road Ryde NSW 2112Postal Address : P.O. Box 67 Leichhardt NSW 2040Phone : (02) 9564 5007 NEW Fax : (02) 9886 7673 Email : [email protected] Website : www.ebe.nsw.edu.au

Economics and Business Educators NSW 2013 Events CalendarAS AT SEPTEMBER 2013

COURSENUMBER

TERM/WEEK DATE TIME

TITLE, LOCATIONAND COST

( GST INCLUDED)FOCUS

1301

Term 1Wk 4

Monday25th

February2013

4.00pm-

6.45pm

Teaching Year 11Preliminary Business Studies, Economics

Or Legal Studies Courses For The

First Time in 2013?

Venue: Sydney College of the Arts

Balmain Road, Rozelle

Cost: $44 Teachers

$22 Student Teachers

This course has been designed for beginning teachers and experienced teachers who are teaching Year 11 Preliminary Business Studies, Economics or Legal Studies courses for the first time in 2013. It will also be beneficial for teachers who may have already taught these courses in the past but who need a refresher course or teachers who intend to teach one of these courses in the near future. The course will look at effective teaching and learning strategies designed to engage students,based on the current Board of Studies NSW syllabus. It will also cover programming ideas and assessment procedures and techniques. Useful teaching and learning resources will be available for each participant. The course will be presented by experienced teachers who will share their own experiences during their challenging early years of teaching and how they coped.

1302

Term 1Wk 7

Wednesday13th

March 2013

5.00pm –

7.30pm

HSC Business Studies Human Resources

(Topic 4) Information Evening

(In association with The University of Sydney

Business School)

Venue : The Universityof Sydney

Cost: Free (Members)$20 (Non-Members)

This information evening will be presented by Will Harvey from The University of Sydney Business School. It will enable teachers of the Board of Studies NSW HSC Business Studies course to increase and update their knowledge of the Human Resources topic. The contribution of human resource management to business performance will be focused onthrough examining contemporary business issues and actual business case studies. There will be an opportunity to ask questions. Teachers will return to their Business Studies classroom with an increased understanding of the Human Resources topic which they will be able to pass onto their students, and with new ideas and resources.

1303

Term 2Wk 3 Friday

17thMay2013

8.30am –

4.15pm

EBE NSW Annual Conference

Venue :Pymble Ladies’ College,

Pymble

Cost: See EBE NSW website. Early bird

prices close on6th May 2013.

Our peak event will consist of engaging presentations which will provide an update of key knowledge in subject disciplinesand classroom strategies and resources. The conference will include keynote presentations on the Australian Curriculum:Economics and Business, labour and industrial relations and globalisation. There are also a number of workshops to choose from. Valuable networking opportunities will also be available at this highlight event in NSW this year for people involved in the teaching of Business Studies, Commerce, Economics and Legal Studies. See the EBE website for the full program and registration details.

1304

Term 2Wk 6

Tuesday4th

June2013

5.00pm-7.30pm

HSC Busines Studies Operations (Topic 1) Information Evening

(In association with The University of Sydney

Business School)Venue : The University of

Sydney

Cost:Free (Members)

$20 (Non-Members)

This information evening will be presented by Professor Eddie Anderson and Dr Erick Li from The University of Sydney Business School. It will enable teachers of the Board of StudiesNSW HSC Business Studies course to increase and update their knowledge of the Operations topic. The strategies for effective operations management in large businesses will be focused on through examining contemporary business issues and actual business case studies. There will be an opportunity to ask questions. Teachers will return to their Business Studies classroom with an increased understanding of the Operationstopic which they will be able to pass onto their students, and with new ideas and resources.


UPDATED DETAILS WILL BE PUBLISHED ON THE EBE NSW WEBSITE : www.ebe.nsw.edu.au

COURSENUMBER

TERM/WEEK DATE TIME

TITLE, LOCATIONAND COST

( GST INCLUDED)FOCUS

1305

Term 2

Wk 8Tuesday18 June

2013

7.00pm -8.30pm

EBE NSWWebinar

Consultation on Draft Australian

Curriculum: Economics and

BusinessVenue: WebinarCost: No charge

The draft Australian Curriculum: Economics and Business has been released by the Australian Curriculum, Assessment and Reporting Authority (ACARA) for public consultation from 6 May 2013 to 19 July 2013. It is available at www.acara.edu.au .The webinar will provide an overview of the draft curriculum by Professor John Lodewijks ( School of Business, University of Western Sydney). Professor Lodewijks was a member of the ACARA expert advisory group who had oversight of the development of the draft curriculum and is a Director of EBE NSW.

1306

Term 3Wk 3 Friday

2 August2013

8.55am-3.30pm

Legal UpdateVenue: NSW

Parliament House

Cost: : $55 Members $77 Non members


During this course participants will be able to update their knowledge in relation to the legal issues in the Commerce and Legal Studies syllabuses by hearing from experts in the legal world.

1307

Term 3Wk 6

Monday 19 August

2013

4.00pm-7.00pm

Teaching Year 12HSC Business

Studies, Economics or Legal Studies Courses For The

First Time In Term 4, 2013/2014?

Venue : Sydney College of the Arts

Balmain Road, Rozelle

$44 Members$66 Non Members


This course has been designed for beginning teachers andexperienced teachers who are teaching Year 12 HSC BusinessStudies, Economics or Legal Studies courses for the first time in Term 4, 2013/2014. It will also be beneficial for teachers who may have already taught these courses in the past but who need a refresher course or teachers who intend to teach one of these courses in the near future. The course will look at effective teaching and learning strategies designed to engage students, based on the current Board of Studies NSW syllabus. It will also cover programming ideas and assessment procedures and techniques. Useful teaching and learning resources will be available for each participant. The course will be presented by experienced teachers and HSC markers who will share their own experiences during their challenging early years of teaching and how they coped, as well as insights gained from HSC marking.

N/A

Term 3Wk 7

Wednesday

28 August2013

N/A

PYOE 2013 Plan Your Own

Enterprise Competition

Closing Date

Please ensure all PYOE entries are WITH EBE NSW no later than 5pm Wednesday 28 August 2013 to ensure your students do not miss the strict deadline on this competition.Please Mail to : PO Box 67 LEICHHARDT NSW 2040Please Deliver to : 3A Smalls Road RYDE NSW 2112

1308

End of Term 3 NSW

SchoolHolidays

Wk 1

Friday

27 September

2013

7.50am -10.00am

EBE NSW Industry Visit for Teachers

Fairfax Printers Plant Tour$15 Members

$30 Non Members$13 EBE NSW Student

Teacher Members

This industry visit has been designed for teachers of Business Studies and Commerce. It will have particular relevance for the Operations topic in the Business Studies syllabus and will focus on strategies for effective operationsmanagement using an actual business case study. Return to your classroom after this experiential professionaldevelopment course with knowledge of an actual business case study based on practical experience.

N/A

Term 4Wk 1

Thursday10 October

2013

5.30pm

PYOE 2013Plan Your Own

Enterprise CompetitionNSW Awards

CeremonyVenue: Catholic Education Office

300 The River RoadRevesby Heights

The NSW winners from the 2013 PYOE competition will receive their awards at this ceremony.

N/A

Term 4Wk 3 Monday

21 October

2013

6.00pmVenue : Club

Burwood RSL, 96

Shaftesbury Road

Burwood

EBE NSW

2013 AnnualGeneral Meeting

This meeting is for all members of EBE NSW. Guest speaker will be Mr Anthony Matis, General Manager Education – CPA Australia.


Economics and Business Educators NSW website statistics as at 15/10/2013

Most commonly visited pages

1. Home page 2. Resources 3. News 4. Publications 5. Professional development


Attention : Teachers of Year 11 Prel iminary Business Studies, Economics and Legal Studies.

ECONOMICS AND BUSINESS EDUCATORS NSW ABN29002677750 (An affiliate member of Business Educators Australasia Inc.) 3B Smalls Road RYDE NSW 2112T0298867786F0298867673

[email protected]

PROGRAM

Teaching the Preliminary course (Year 11) in Business Studies, Economics or Legal Studies

for the first time?

MMoonnddaayy 2244 FFeebbrruuaarryy 22001144 4.15pm – 7.30pm

Venue: Department of Education & Communities NSW Building - 3B Smalls Road, RYDE

Some onsite parking and some street parking is available. Please kindly adhere to local parking laws when parking offsite. For a MAP of the area please see : http://www.whitepages.com.au/government-listing/department-of-education-communities-nsw-1811241/ryde-nsw

Sessions and Presenters * Choose from Business Studies, Economics or Legal Studies Teaching the Preliminary Course (Year 11) in Business Studies for the first time?:

Kate Dally, Birrong Girls High School / Vice - President – EBE NSW Teaching the Preliminary Course (Year 11) in Economics for the first time?:

Andrew Athavle, William Carey Christian School / Director – EBE NSW Teaching the Preliminary Course (Year 11) in Legal Studies for the first time?:

Joe Alvaro, Marist College North Shore / President – EBE NSW

4 .15 pm Reg i st rat ion 4 .30 pm Int ro duc t io n an d W e lcome 4.45 pm Se s s io n 1 5 .45 pm L i g h t R e f r e s h m e n t s a n d N e t w o r k i n g

6 .15 pm S e s s i o n 2 ( C o n t i n u e w i t h s u b j e c t c h o s e n f o r S e s s i o n 1 )

7 .15 pm E v a l u a t i o n F o r m s , R e s o u r c e B a g s a n d C o n c l u s i o n 7 .30 pm C l o s e

This course has been designed specifically for: beginning teachers and experienced teachers who are TeachingthePreliminaryCourse(Year11)inBusiness

Studies,EconomicsorLegalStudiesforthefirsttime teachers who may have already taught one of these courses in the past but who need a refresher course teachers who intend to teach one of these courses in the near future

The course will look at : effective teaching and learning strategies designed to engage students, based on the current Board of

Studies NSW syllabus assessment procedures and techniques, including the Board of Studies NSW requirements for the allocation

of Preliminary grades for the Record of School Achievement(RoSA) useful teaching and learning resources

The course will be presented by experienced teachers who will share their own experiences during their challenging early years of teaching and how they coped.

Economics and Business Educators NSW, through the Professional Teachers’ Council NSW- NSW Institute of Teachers as the endorsed provider of Institute Registered professional development for the maintenance of accreditation at Proficient Teacher/ Professional Competence.

Scope of Endorsement All Standards of the Australian Professional Standards for Teachers at the level of Proficient teacher All Elements of the NSW Professional Teaching Standards for Professional Competence

This course: Teaching the Prel iminary Cours e (Year 11) in Business Studies, Economics, or Legal Studies for the f irst t ime? – 24 February 2014 - is reg istered wi th the NSW Inst i tu te o f Teachers for 2.75 hours o f p ro fessiona l deve lopment a t Pro f ic ient Teacher/ Pro fessiona l Competence leve l . This course addresses NSW Professional Teaching Standards: 6.2.3, 6.2.6, 6.2.8 and Australian Professional Standards for Teachers : 6.2.2, 7.2.2, 7.4.2.

T o o p t o u t o f f u t u r e E B E N S W f a x p r o m o t i o n s p l e a s e e m a i l t o : a d m i n @ e b e . n s w . e d u . a u


Attention : Teachers of Year 11 Prel iminary Business Studies, Economics and Legal Studies.

ECONOMICS AND BUSINESS EDUCATORS NSW ABN29002677750 (An affiliate member of Business Educators Australasia Inc.) 3B Smalls Road RYDE NSW 2112T0298867786F0298867673

[email protected]

REGISTRATION FORM

Teaching the Preliminary course (Year 11) in Business Studies, Economics or Legal Studies

for the first time? MMoonnddaayy 2244 FFeebbrruuaarryy 22001144 4.15pm – 7.30pm

Venue: Department of Education & Communities NSW Building - 3B Smalls Road, RYDE

Some onsite parking and some street parking is available. Please kindly adhere to local parking laws when parking offsite. For a MAP of the area please see : http://www.whitepages.com.au/government-listing/department-of-education-communities-nsw-1811241/ryde-nsw

Sessions and Presenters * Choose from Business Studies, Economics or Legal Studies Teaching the Preliminary Course (Year 11) in Business Studies for the first time?:

Kate Dally, Birrong Girls High School / Vice - President – EBE NSW Teaching the Preliminary Course (Year 11) in Economics for the first time?:

Andrew Athavle, William Carey Christian School / Director – EBE NSW Teaching the Preliminary Course (Year 11) in Legal Studies for the first time?:

Joe Alvaro, Marist College North Shore / President – EBE NSW

4 . 1 5 p m Reg i s t ra t i o n 4 . 3 0 p m I n t ro d u c t i o n a n d W el co m e 4 . 4 5 p m S es s i o n 1 5 . 4 5 p m L i g h t R e f r e s h m e n t s a n d N e t w o r k i n g

6 . 1 5 p m S e s s i o n 2 ( C o n t i n u e w i t h s u b j e c t c h o s e n f o r S e s s i o n 1 )

7 . 1 5 p m E v a l u a t i o n F o r m s , R e s o u r c e B a g s a n d C o n c l u s i o n 7 . 3 0 p m C l o s e

CONTACT DETAILS : Your Name:

EBE NSW Membership No. :

School Name:

School Address:

NSWIT No. :

Suburb: Postcode: Phone: Fax: Email: ENROLMENT DETAILS : (Prices include GST) PleaseselectONEofthefollowing: [ ] Places @ $44 / EBE Member or $66 /NonMember $ Business Studies Economics Legal Studies

Please include copy of Student ID. [ ] Places @ $22 / Student Teacher

$ Any special dietary requirements? Please specify: _________________________________________

● CLOSING DATE : COB Thursday 20 February, 2014 ● Please kindly : FAX to 02 9886 7673 OR EMAIL to [email protected] OR MAIL to 3B Smalls Rd, RYDE NSW 2112 PAYMENT DETAILS: NB: THIS FORM BECOMES A TAX INVOICE UPON COMPLETION & PAYMENT

Enclosed is my cheque/money order for $ ________________ payable to EBE NSW. Order#: ________________

* Charge my : Mastercard Visa

Cardholders name:______________________________________ Expiry date:

Signature: _ Date: __________

Economics and Business Educators NSW, through the Professional Teachers’ Council NSW- NSW Institute of Teachers as the endorsed provider of Institute Registered professional development for the maintenance of accreditation at Proficient Teacher/ Professional Competence. Scope of Endorsement All Standards of the Australian Professional Standards for Teachers at the level of Proficient teacher All Elements of the NSW Professional Teaching Standards for Professional Competence

T h i s c o u r s e : T e a c h i n g t h e P r e l i m i n a r y C o u r s e ( Y e a r 1 1 ) i n B u s i n e s s S t u d i e s , E c o n o m i c s , o r L e g a l S t u d i e s f o r t h e f i r s t t i m e ? – 2 4 F e b r u a r y 2 0 1 4 - i s r e g i s t e r e d w i t h t h e N S W I n s t i t u t e o f T e a c h e r s f o r 2 . 7 5 h o u r s o f p r o f e s s i o n a l d e v e l o p m e n t a t P r o f i c i e n t T e a c h e r / P r o f e s s i o n a l C o m p e t e n c e l e v e l . T h i s c o u r s e a d d r e s s e s N S W P r o f e s s i o n a l T e a c h i n g S t a n d a r d s : 6 . 2 . 3 , 6 . 2 . 6 , 6 . 2 . 8 a n d A u s t r a l i a n P r o f e s s i o n a l S t a n d a r d s f o r T e a c h e r s : 6 . 2 . 2 , 7 . 2 . 2 , 7 . 4 . 2 .

* EBE’s privacy policy endorses the National Privacy Principles set out in the Privacy Amendment (Private Sector) Act 2000 - refer to www.ebe.nsw.edu.au T o o p t o u t o f f u t u r e E B E N S W f a x p r o m o t i o n s p l e a s e e m a i l t o : a d m i n @ e b e . n s w . e d u . a u

Economics & Business Educators NSW 3B Smalls Road, Ryde NSW 2112 Telephone: (02) 9886 7786 • Fax: (02) 9886 7673 Email: [email protected] • Website: www.ebe.nsw.edu.au

[email protected]

www.ebe.nsw.edu.au

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