Journal of the Economics and Business Educators New South ... · by Joe Alvaro, Marist College...

Journal of the Economics and Business Educators New South Wales

2015 – Issue 2

PRESIDENT: Joe Alvaro, (Marist College North Shore, Board Member/NSW Councillor – Business Educators Australasia, Board Member/ Secretary – Professional Teachers’ Council NSW)

VICE PRESIDENTS: Cheryl Brennan (Illawarra Christian School, Board Member – Professional Teachers’ Council NSW) Kate Dally (Birrong Girls High School)

TREASURER: Glenn Walker (Knox Grammar School)

COMPANY SECRETARY: Vacant

DIRECTORS: Andrew Athavle (William Carey Christian School)

Greg Hannelly (St Edward’s College)

Bronwyn Hession (Board of Studies, Teaching and Educational Standards NSW)

Kate Keeley (The University of Sydney)

Mai Ni Pham (Young High School)

Anna Tsoutsa (Auburn Girls High School)

Nicholas Ward (Ryde Secondary College)

EDITOR: Matthew Bookallil

DESKTOP PUBLISHING: 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

2 The EBE Journal – Journal of the Economics and Business Educators NSW 2015 – Issue 1

[email protected]

www.ebe.nsw.edu.au

http://www.rmitpublishing.com.au

mailto:[email protected]

www.nla.gov.au/apais/index.html

3The EBE Journal – Journal of the Economics and Business Educators NSW 2015 – Issue 2

JOURNAL OF THE ECONOMICS AND BUSINESS

EDUCATORS NEW SOUTH WALES

2015 – Issue 2

ContentsPresident’s Report 5

EBE NSW News 8

Economics and Business News Bites Compiled by Joe Alvaro 21

Legal News Bites Compiled by Joe Alvaro 23

CommBank – Teaching Awards 2015 Bronwyn Hession, Director EBE NSW 24

Improving extended response writing in Stage Five Commerce using ALARM. Written by Nick Ward (Ryde Secondary College) and reviewed by: Max Woods (Freshwater Senior Campus) 26

Protection and its Impact on the Australian Automobile Industry by Duc Nguyen and Tony Stokes, Australian Catholic University 31

ASX Schools Sharemarket Game 2 2015 Amanda Mior, ASX Sharemarket Game Coordinator 38

Barry Collier Diversifies! Song of the Headmaster: Then & Now (with apologies to C J Dennis) 39

An Overview of the State of the Australian Economy in 2015 by Dr Anthony Stokes and Dr Sarah Wright 41

The importance of enterprise skills to prepare students for the new work order Georgie Swan, Foundation for Young Australians 47

A call for articles

There is always a need for articles for The EBE Journal.

Articles are invited from teachers in schools and academics in universities.

Contributing to the journal is one way to demonstrate the Australian professional teaching standards at any of the four career stages – Graduate, Proficient, Highly Accomplished or Lead. 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 ENQUIRIES SHOULD BE DIRECTED TO:

The EditorEconomics and Business Educators NSW3B Smalls Road Ryde NSW 2112 Phone: (02) 9886 7786 Fax: (02) 9886 7673Email: [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



Maximise student performance by teaching students how to deliver quality self and peer feedback by Matthew Bookallil, Director – EBE 2015 52

Commerce Assessment Task – Personal Finance Topic and Investing Topic by the Commerce Department, Knox Grammar School 56

How many students studied HSC Economics, HSC Business Studies and HSC Legal Studies in 2015? by Joe Alvaro, Marist College North Shore 63

Report on EBE NSW Field Trip for Teachers – CHOICE Lab and Testing Facility Guided Tour – 23 September 2015 by Christopher Sassine, Northern Beaches Christian School 65

President’s Report to the 2015 Economics and Business Educators NSW Annual General Meeting (7 December 2015) 66

Economics and Business Educators NSW Financial Statements for the Year Ended 30 June 2015 74


President’s Reportby Joe Alvaro, Marist College North Shore

Welcome to Issue 2 (2015) of The EBE Journal – Journal of the Economics and Business Educators NSW. I hope you will be able to engage in some professional reading and some professional growth through the journal. Thank you to Matthew Bookallil for all his work on this edition of the journal through his role as Editor.

2015 EBE NSW Annual General MeetingAs a result of the elections held as part of the EBE NSW Annual General Meeting on 1 December 2015, the Board of Directors for 2015/2016 are:

President: Mr Joe Alvaro (Marist College North Shore)

Vice President: Ms Cheryl Brennan (Illawarra Christian School)

Vice President: Ms Kate Dally (Birrong Girls High School)

Treasurer: Mr Glenn Walker (Knox Grammar School)

Director: Mr Andrew Athavle (William Carey Christian School)

Director: Mr Greg Hannelly (St Edward’s College)

Director: Ms Bronwyn Hession (Board of Studies, Teaching and Educational Standards NSW)

Director: Ms Kate Keeley (The University of Sydney)

Director: Ms Mai Ni Pham (Young High School)

Director: Ms Anna Tsoutsa (Auburn Girls High School)

Director: Mr Nicholas Ward (Ryde Secondary College)

The President’s Report to the 2015 EBE NSW AGM and the EBE NSW Financial Statements for the year ended 30 June 2015 have been included in this edition of the journal.

Welcome to our new Board members, Greg Hannelly and Mai Ni Pham, who come to the

EBE NSW Board from rural and remote areas of NSW. Farewell and thank you to Matthew Bookallil from Knox Grammar School who has served on the EBE Board of Directors over the last year. We have a diverse Board for 2015/2016 consisting of outstanding educators in the areas of Economics, Business Studies, Legal Studies and Commerce from government and non-government schools, a teacher educator and an educator from the Board of Studies, Teaching and Educational Standards NSW, to keep the association moving forward for another year. There are some vacancies on the Board. If you are interested please contact EBE NSW. The Board of Directors meet twice during each school term. If you have any questions and/or suggestions that you would like the Board to consider, please email [email protected]

2015 EBE NSW CPA Plan Your Own Enterprise Competition NSW Awards Ceremony EBE NSW recognized the Plan Your Own Enterprise ( PYOE) NSW winners at the annual NSW awards ceremony on 7 October 2015 at the Sydney office of CPA Australia together with Ms Julie Chessman, Senior Relationship Manager, NSW, CPA Australia. At the ceremony, prizes and certificates were awarded to the NSW student winners and their schools. Parents were in attendance as well to celebrate the success of their child, as well as teachers. The 2015 CPA PYOE national awards ceremony was held on 14 October 2015 in Melbourne. Thank you to EBE NSW Director, Nicholas Ward, for taking on the role of PYOE NSW Coordinator this year and for all his time and effort in ensuring the competition in NSW was a success. Congratulations to all the winners. Full details about this year’s competition can be found in this edition of the journal.



President’s report

Commonwealth Bank 2015 Teaching Awards CeremonyOn 30 September 2015 I represented EBE NSW at the Commonwealth Bank 2015 Teaching Awards Ceremony at Doltone House, Jones Bay Wharf, Pyrmont Point NSW. The Commonwealth Bank Teaching Awards recognise and reward teachers from schools across Australia who are making an outstanding contribution to developing the essential financial literacy skills of their students. This year more than 230 applications from teachers of Kindergarten to Year 12 students from all over Australia were received. There were 15 awards presented – $10,000 each for 15 schools to invest in their financial learning programs. Plus an extra $2,000 as a personal reward for each winning teacher. There were also four additional awards this year to the 15 Teaching Award winners – one overall national winner and then three additional awards: Innovation Award, Technology Award and a Speciality Award. I was impressed with the quality of the financial learning programs which were celebrated at the ceremony and it was pleasing to see teachers who are passionate about providing consumer and financial literacy learning opportunities for their students. Congratulations to all the winners. In particular I would like to congratulate the following teachers who were the winners from NSW: Mr Grant Dennis, Alesco Senior College – Newcastle, Ms Jenny Rolfe, Wagga Wagga Christian School – Wagga Wagga and Ms Terrie Franklin, Mercy Catholic College – Chatswood. Full details about all the winners are available at https://www.teachingawards.com.au/. There is also an article in this edition of the journal which features two of the NSW winners.

2015 Financial Literacy Australia AwardsOn 19 November 2015 I represented EBE NSW at the Financial Literacy Australia Awards Presentation at the Establishment Ballroom (George St, Sydney). These awards celebrate

the outstanding achievements of organisations and individuals working to improve Australians’ financial literacy.

I commend the Highly Commended Award for a small financial literacy program which was received by Horizon Credit Union. Their program, “Two Bob Billabong and Savings Squad”, delivered nineteen fully produced, live theatre performances in 10 schools along the South Coast of NSW reaching close to 4,000 children. The 25-minute performance, called “Showdown at Two Bob Billabong”, was delivered live into schools by two professional actors using comedy and an exciting adventure story to teach students all about money, the uses of money, why we should save and how we can save.

2015 Board of Studies, Teaching and Educational Standards NSW HSC Business Studies, Economics and Legal Studies ExaminationsEBE NSW is interested to hear from members about what they thought about the 2015 Board of Studies, Teaching and Educational Standards NSW HSC Business Studies, Economics and Legal Studies Examinations. Any problems? Strengths? Please email feedback to [email protected].

Well done to all our members who were HSC markers this year. It is always a challenging activity to engage in on top of all the other demands during Term 4. However, I believe HSC marking is one of the most valuable and effective professional development activities that teachers can participate in. I encourage any teachers who have not experienced HSC marking to apply to become an HSC Marker in 2016.

EBE NSW will be providing HSC examination review workshops at our 2016 Annual Conference. This analysis will enable teachers to reflect on the 2015 HSC Examinations and use them to improve student learning outcomes and examination technique for their students.

https://www.teachingawards.com.au




President’s report

2016 Business Educators Australasia Biennial Conference: “Thinking, Teaching, Doing” BusinessThe 2016 Business Educators Australasia National Conference will be held in Hobart, Tasmania on Thursday 29 and Friday 30 September 2016. The conference will provide a forum for the teaching and learning of business and economics education and associated studies for colleagues across Australia. A particular emphasis will be on the development of the Australian Curriculum. As EBE NSW is an affiliate member of Business Educators Australasia, EBE NSW members can attend the conference at a discounted rate. There are also favourable student-teacher rates available.

Currently the Conference Planning Committee is calling for expressions of interest for papers and workshops. More details can be found on the home page of the Business Educators Australasia website at www.bea.asn.au which will take you to the conference website.

EBE NSW is offering one of its members a professional development grant to attend the 2016 Business Educators Australasia Biennial Conference. The grant will pay for all flights, accommodation at the conference venue (Wrest Point Hotel) and the conference registration fees. I encourage members to apply for this grant. More details on the EBE NSW website.

2016 EBE NSW Membership Renewal Forms Please do not forget to renew your membership for 2016 so as to continue to gain all the benefits of being a member of EBE NSW which represents and supports teachers of Economics, Business Studies, Legal Studies and Commerce in NSW and overseas in Australian International Schools. EBE NSW provides the following membership categories: Individual, Individual (with Remote Rebate), School/Library, Business/Corporate and Concessional. The Concessional membership category is offered at a very low rate for student-teachers, casual teachers and retired teachers who are most welcome as members of EBE NSW.

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]. au). Further information about submitting an article can be found in this edition of the journal on page 3. Contributing to the journal is one way to demonstrate the Australian Professional Standards for Teachers at any of the four career stages – Graduate, Proficient, Highly Accomplished or Lead. It is also an effective way to engage in professional dialogue and sharing with other teachers. Thank you to everyone who has contributed to this edition of the journal.

EBE NSW HelpdeskAs always EBE NSW Directors are available to members for advice and assistance (helpdesk@ ebe.nsw.edu.au) in relation to the teaching and learning of Business Studies, Commerce, Economics and Legal Studies.

It has been a privilege to meet and work with our members this year as we strive to provide quality Economics, Business Studies, Legal Studies and Commerce lessons to the students of NSW. The strength and sustainability of our profession is directly related to the quality of our teachers. That is why the quality of our teachers through professional development remains one of the highest priorities of EBE NSW. So it was pleasing to see many members participate enthusiastically in our many professional development courses this year.

I would like to thank the EBE Board of Directors who generously offer their time and expertise as we work around our three Strategic Pillars in the Strategic Plan 2015–2017 of EBE NSW – “professional growth”, “networking” and “advocacy”. This work will continue in 2016. I am very grateful for the support of our office staff at Ryde and thank Annette Davies, Sue Gilbertson and Alan Hearle for all their work this year.

All good wishes for a happy Christmas and an enjoyable end of year holiday.

Joe AlvaroPresident – Economics and Business Educators NSW

http://www.bea.asn.au


ebe.nsw.edu.au


EBE NSW News

EBE Professional Development Event – “Simulation as a Teaching Method in Business Studies” – 6 August 2015Economics and Business Educators NSW, in association with S P Jain School of Global Management, enabled Business Studies teachers an opportunity to explore simulation as a teaching method in Business Studies during the “Simulation as a Teaching Method in Business Studies” PD course on 6th August 2015. A typical business makes hundreds of decisions on a daily basis. Participants in this course looked at how the teaching method of simulation can give students the skills and experience they need to make the right decisions. Through the Harvard Leadership Simulation participants learnt about how teams make complex decisions when critical information is distributed unevenly among members and when members have partially conflicting goals. The teaching method of simulation uses sophisticated computer software to simulate the real world and enables participants to practice in a safe environment and learn from the mistakes made. Some positive feedback was received from participants about this NSW Board of Studies, Teaching and Educational Standards (NSW BOSTES) accredited course:

“I really enjoyed the simulation. It was enjoyable.”

“Could be incorporated into teaching business

concepts such as marketing, finance and skills such as leadership, communication, team work and decision making .”

“The simulation programs look like they would be highly valuable in teaching students Business Studies content (and the skills associated with business) in an engaging manner.”

EBE thanks the SP Jain School of Global Management for their participation in this PD course. If you are interested in using simulation to teach some aspects of the Business Studies syllabus, SP Jain School of Global Management are able to offer excursions and incursions for your students. Please contact EBE for more details. Visit www.spjain.edu.au for more information about the SP Jain School of Global Management.

EBE PD Event - “Simulation as a Teaching Method in Business Studies” – 6th August 2015

EBE PD Event - “Simulation as a Teaching Method in Business Studies” – 6th August 2015

http://www.spjain.edu.au


EBE NSW News

EBE PD Event – “Simulation as a Teaching Method in Business Studies” – 6th August 2015

EBE PD Event – “Simulation as a Teaching Method in Business Studies” – 6th August 2015

EBE Professional Development Event – “Teaching the HSC Course (Year 12) in Business Studies, Economics or Legal Studies for the first time?” held on 17 August 2015The above NSW Board of Studies, Teaching and Educational Standards (NSW BOSTES) 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 Director Andrew Athavle presented the Economics session, EBE Vice – President Cheryl Brennan presented the Business Studies session and EBE President Joe Alvaro presented the Legal Studies session. Participants were teachers beginning to teach the current NSW BOSTES HSC Business Studies, Economics or 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. Teachers also received some teaching and learning resources to take back to their classroom. Some feedback received from participants included:

“I got what I came for. Every area of teaching business was covered. Thank you so much for the session.”

“Gave me a good foundation introduction to teaching Business Studies at the HSC level.”

“Very helpful thank you – Cheryl was very professional and had great examples to share. I got a lot out of the HOT questions/resources”.

“Learned some great new strategies and am taking back to school some solid resources.”

“Very helpful session from Andrew! Best PD I’ve ever done.”

“Really (x10) good. In 2–3 hours you helped a whole day’s worth.”

EBE NSW Director, Andrew Athavle, presents the Economics session at the EBE PD event “Teaching the HSC Course (Year 12) in Business

Studies, Economics or Legal Studies for the first time?” held on 17 August 2015

EBE NSW Vice – President , Cheryl Brennan, presents the Business Studies session at the EBE PD event “Teaching the HSC Course (Year

12) in Business Studies, Economics or Legal Studies for the first time?” held on 17 August 2015


EBE NSW President , Joe Alvaro, presents the Legal Studies session at the EBE PD event “Teaching the HSC Course (Year 12) in Business

Studies, Economics or Legal Studies for the first time?” held on 17 August 2015

Conference participants network with each other at the EBE PD event “Teaching the HSC Course (Year 12) in Business Studies, Economics or

Legal Studies for the first time?” held on 17 August 2015

EBE NSW News

“Really happy with the sample assessment tasks and programs.”

“Great resources – Joe knows his stuff – great mix of resources and practical activities. Outstanding resources. Well done again.”

“Thanks for all the fantastic resources and ideas – feel a bit overwhelmed at the moment but I’m sure when I digest it all it will be great!”

“Very good. Lots of helpful resources and teaching ideas. Excursion ideas were valuable.”

“Fantastic resources linked to syllabus!”

EBE members can access material from the Economics session of this course from the members section of the EBE website.

EBE NSW thanks the following supporter of this event:• Bookminders Australia

EBE NSW Professional Development Event – Current Economic Events and Monetary Policy – 1 September 2015A group of Economics teachers attended the Reserve Bank of Australia (Martin Place, Sydney) to participate in the EBE PD event, “Current Economic Events and Monetary Policy” on 1 September 2015. This event was held in association with the Reserve Bank of Australia. The presenter was Merylin Coombs who is Deputy Head in the Economic Analysis Department of the RBA. Participants gained an update on current economic events and increased their understanding of monetary policy. The course was an excellent opportunity for Economics teachers to gain valuable up to date information to share with their 2015 HSC Economics students. Some feedback received from participants about this NSW Board of Studies, Teaching and Educational Standards (NSW BOSTES) accredited course included:

EBE PD Event – Current Economic Events and Monetary Policy held on 1 September 2015

“Positive reinforcement of my classroom practice.”

“Very good to have updated charts outlined. Q and A session was good.”

“Very informative and provided great graphs. Speaker very knowledgeable.”

“High quality information.”

EBE members can access material from this course from the members section of the EBE website.


EBE NSW News

2015 EBE NSW CPA Plan Your Own Enterprise Competition NSW Awards Ceremony – 7 October 2015EBE NSW recognised the Plan Your Own Enterprise ( PYOE) NSW winners at our annual NSW awards ceremony on 7 October 2015 at the Sydney office of CPA Australia together with Ms Julie Chessman, Senior Relationship Manager, NSW, CPA Australia. At the ceremony, prizes and certificates were awarded to the NSW student winners and their schools. Parents were in attendance as well to celebrate the success of their child, as well as teachers. Congratulations to the following winners and their teachers from NSW:

2015 EBE NSW CPA Plan Your Own Enterprise Competition NSW Awards Ceremony – 7 October 2015

Eureka Café Srishti Jain Hurlstone Agricultural High School, Teacher: Ms Elizabeth Johnson Forever I do Tanisha Lafitani Loreto Normanhurst, Teacher: Mr Matt Kohlhagen Grey NomadAlivia O’ConnellLoreto Normanhurst, Teacher: Mr Matt Kohlhagen Intergenerational Solutions Joshua Spicer Rose Bay Secondary College, Teacher: Mr Philip Horrell

Division One (Individual entry) – Joshua Spicer, Rose Bay Secondary College for his business plan “Intergenerational Solutions” Teacher: Mr Philip Horrell.

Division Two (Group entry) – Vanshika Virmani & Jennifer Xu, Hornsby Girls High School for their business plan “Lemon Myrtle” Teacher: Ms Stephanie Boden.

The 2015 PYOE NSW Competition finalists were:Division One –Delamash Shamal Deolekar Asquith Girls High School, Teacher: Mr Russell Lewis

Joshua Spicer (far left) – winner of the 2015 NSW PYOE Competition (Division 1) accepting his award at the 2015 EBE NSW CPA Plan Your

Own Enterprise Competition NSW Awards Ceremony (7 October 2015) with Joe Alvaro – EBE NSW President (middle) and Julie Chessman –

CPA Australia (far right).

Jennifer Xu (far left) and Vanshika Virmani (third from left) - winners of the 2015 NSW PYOE Competition (Division 2) accepting their awards

at the 2015 EBE NSW CPA Plan Your Own Enterprise Competition NSW Awards Ceremony (7 October 2015) with Joe Alvaro - EBE NSW

President (second from left ) and Julie Chessman – CPA Australia (fourth from left)


EBE NSW News

Mansion Mates Adam Beverley Masada College, Teacher: Mrs Robyn Grana Mattana-ty Business Plan Emmanuelle Mattana Sydney Girls High School, Teacher: Mr Scott Sinclair Pink Lady TaxisCharlotte Johnson Loreto Normanhurst, Teacher: Ms Rebecca Lee The Secret Spot Application Madelina KalpouInaburra School, Teacher: Mr Michael McGovern Yogalive Marissa Guan Sydney Girls High School, Teacher: Mr Scott Sinclair

PYOE NSW finalists at the 2015 EBE NSW CPA Plan Your Own Enterprise Competition NSW Awards Ceremony – 7 October 2015

Division Two –Classic VibesJinaho Huang, Dean Chen & Jimmy Yip Sydney Boys High School, Teacher: Mr Tom Dolan Elk Blu Business PlanKevin Zhang, Lucas Wong, Eddy Xiong & Michael Yang Sydney Boys High School, Teacher: Mr Tom Dolan Lemon MyrtleVanshika Virmani & Jennifer XuHornsby Girls High School, Teacher: Ms Stephanie Boden Midlife LeverageTeah Fulton, Joy Chayna & Holly WaplesIllawarra Christian School, Teacher: Cheryl Brennan Shuffle My ScheduleMadison Allan, Chrissy Burjan & Sophia Costantino MLC School, Teacher: Mrs Allison McCulloch


EBE NSW News






Thank you to all the students who entered the competition this year and the teachers who inspired and encouraged their students to enter this prestigious competition. Each student who participated received a Certificate of Participation signed by Mr Graeme Wade FCPA – President CPA Australia and Mr Tony Kuc, President Business Educators Australasia.

Thank you to our EBE NSW Director, Nicholas Ward, for taking on the role of PYOE NSW Coordinator this year and for all his time and effort in ensuring the competition in NSW was a success.


EBE NSW News

2015 CPA Plan Your Own Enterprise Competition National Awards Ceremony – 14 October 2015The NSW Division 1 winner, Joshua Spicer, represented NSW at the national PYOE awards ceremony in Melbourne on 14 October 2015. Whilst Joshua did not return to NSW as the national winner, he is to be congratulated for his tremendous progress in the competition.

The individual category at the national level was won by Jonathan Nagappa of Christ Church Grammar School in WA. His business idea was SurfScout, a remote controlled drone service to spot sharks and keep Australia’s swimmers safe.

The group category at the national level was won by Harrison Wallace, Peter Mercado and Robert Jiang from The Hutchins School in Tasmania. Their business, The Tapas Truck, provides affordable Spanish food to Hobart residents. EBE NSW congratulates the 2016 PYOE national winners.

Business Studies and Commerce teachers are encouraged to plan to have their students experience the competition in 2016. The PYOE competition provides the important bridge between theory and practice, not to mention increased student engagement in the learning process.

EBE NSW thanks CPA Australia for their continuing support of this competition. Congratulations to all the winners!



EBE NSW Field Trip for Teachers – CHOICE Lab and Testing Facility Guided Tour – 23 September 2015A group of Business Studies and Commerce teachers participated in a CHOICE Lab and Testing Facility Guided Tour on 23 September 2015 at CHOICE (57 Carrington Road Marrickville NSW). During this experiential professional development course, participants increased their understanding of how CHOICE (the public face of the Australian Consumers’ Association) protects consumers as a non-legal mechanism and how CHOICE tests hundreds of products each year. Mr George Perry (Director Commercial and Finance) spoke to participants about the work of CHOICE and answered questions. Participants were then able to tour the CHOICE labs under the guidance of Mr John Ashes, Facilities Manager (Manager of Labs). Labs visited included the CHOICE Kitchen Lab, CHOICE Computer Lab, CHOICE Small Appliances Lab, CHOICE Toy Lab, CHOICE Refrigerator Lab, CHOICE TV Lab, CHOICE Small Appliances Lab and the CHOICE Laundry Lab. Participants also took away some resources to assist them in their classrooms.

Some feedback received from participants included:“Very informative presenters.” “John and George were fantastic. They were very informative and thorough.” “Really interesting tour and information about Choice magazine. An interesting look at the testing facilities.”


EBE NSW News

“Great to see the whole process. Well organised. Thanks Joe and EBE! Thank you to George and John. Very beneficial.”

“Some great insights into the testing that is carried out and the regulations that CHOICE must comply with.”

Participants will be able to improve student learning outcomes in relation to the consumer rights aspect of financial literacy as a result of attending this course. CHOICE is an important non-legal mechanism. Although government regulations exist, they do not cover everything. Manufacturers and sellers are not always honest and do not always act in the interests of consumers. Therefore it is critical that an organisation like CHOICE is monitoring activities in the commercial world and holding businesses accountable on behalf of consumers.

EBE NSW thanks the staff of CHOICE for working with EBE to organise this professional development event, in particular Mr George Perry and Mr John Ashes. If you have any suggestions for EBE NSW field trips in 2016, please email [email protected]

Participants at the EBE NSW Field Trip for Teachers, including Mr Abbey (second from right) – CHOICE Lab and Testing Facility Guided Tour held on 23 September 2015

School newsletter item about the EBE NSW Field Trip for Teachers – CHOICE Lab and Testing Facility Guided Tour held on 23 September 2015The following report by Mr Alex Abbey who teaches at Red Bend Catholic College (Forbes, NSW) and who attended the EBE NSW Field Trip for Teachers – CHOICE Lab and Testing Facility Guided Tour, held on 23 September 2015, is from the Red Bend Catholic College newsletter (dated 30 October 2015)

Red Bend Teacher on a Choice Professional Development by Mr Alex Abbey, HSIE Teacher

On Wednesday 23 September 2015, Commerce, Business Studies and Economics Teacher Mr Alex Abbey attended a workshop organised by the Economics and Business Educators NSW (EBE NSW) at the premises of the Australian Consumers Association (ACA), publishers of Choice Magazine in Marrickville, Sydney.



EBE NSW Professional Development Event – “Legal Update Conference” – 9 October 2014

EBE NSW held its annual Legal Update Conference at the law making institution in our state, NSW Parliament House, on 9 October 2015. This NSW Board of Studies, Teaching and Educational Standards (NSW BOSTES) endorsed PD event enabled participants to hear from the following experts in the legal world speak on the following topics:

Challenges to the Rule of Law in Australia Today – Barrister Dominique Hogan-Doran

Women’s Shelters and Access to Justice – Annabelle Daniel, CEO – Women’s Community Shelters

The NSW Parliament: Ideas and Resources for Teaching about the Democratic Process

EBE NSW News

Mr Abbey is a voting member of the ACA and has used Choice magazine as a resource in his Business Studies, and especially in his Commerce classes, for 25 years. It wasn’t surprising then that he welcomed the opportunity to tour through the famous testing laboratories during the recent school holidays.

Following an informative introductory and Q & A session, Mr Abbey and eight Sydney-based teachers then spent several hours learning first-hand how computers, kitchen appliances, stoves and ovens, barbecues, toys, cots, infant high chairs, prams and strollers, refrigerators, coffee machines, televisions, washing machines and dishwashers are impartially tested.

Mr Abbey is strongly of the view that the

more our teachers and students take part in such activities, the less of a disadvantage our students are placed at compared to our city cousins due to relative isolation.

A tour of the iconic testing laboratories might even form the basis of a future excursion for our Commerce, or even Business Studies, Legal Studies or Economics students, as a way of highlighting to our students the important advocacy and “watchdog” role of Choice magazine.

Mr Abbey would like to thank the staff of Choice magazine, as well as Mr Joe Alvaro, President of EBE NSW, for organising and accompanying the group of teachers. It is hoped that these teacher workshops continue into the future and EBE and Choice are to be congratulated on this initiative.

– Daniela Giorgi, Civics and Citizenship Officer – NSW Parliament House

Native Title and the Role of the National Native Title Tribunal – Rob Powrie, Practice Director–National Native Title Tribunal

Resolving Disputes with the State: The Role of the Commonwealth Ombudsman – Mr Rodney Lee Walsh, Senior Assistant Commonwealth Ombudsman

The new Bail Act – Nick Clark, Chief Executive Officer – Rule of Law Institute of Australia

Using Non-Legal Mechanisms to Achieve Justice for Victims – Howard Brown, OAM, Vice- President – Victims of Crime Assistance League (VOCAL)


EBE NSW News

2015 EBE NSW Legal Update Conference delegates in the NSW Legislative Council (NSW Parliament House)

Participants were able to increase their understanding of the concepts and terms in the BOSTES NSW Commerce and Legal Studies syllabuses, as well as develop their teaching strategies. There were also a number of exhibitors from various organisations and opportunities to network with other teachers.

Conference evaluation forms indicate that participants found this conference to be very valuable and useful:

“Good linking of syllabus dot points to concrete examples.”

“Excellent – great to have that connection with a practising barrister.”

“Useful to understand the role of women’s shelters. Most useful information was discussion on effectiveness of the services available and statistics of women’s issues.”

Barrister Dominique Hogan-Doran speaking at the 2015 EBE NSW Legal Update Conference

Annabelle Daniel, CEO – Women’s Community Shelters speaking at the 2015 EBE NSW Legal Update Conference

“It was great to gain a personal tour of the Parliament House and Legislative Assembly. Can relate to it better.”

“Very detailed, relevant – and recent! In-depth case examination very helpful. Q and A very helpful.”

“Outstanding and comprehensive.”

“Feel I know the Bail Act (new) so much better now as it was explained in close detail.”

“Passionate speaker – liked the practical examples.”

Some of the material from the conference is available for conference delegates on the EBE NSW website.


EBE NSW News

2015 EBE NSW Legal Update Conference delegates in the NSW Legislative Assembly (NSW Parliament House)

2015 EBE NSW Legal Update conference delegates participate in a role play in the NSW Legislative Assembly (NSW Parliament House)

EBE NSW thanks the following supporters of this event:• Rule of Law Institute of Australia• HarperCollins Publishers for providing copies

of “A Mother’s Story” by Rosie Batty with Bryce Corbett for “Lucky Door Prizes” session.

• Cambridge University Press

• Bookminders Australia

Thank you also to Wilkinson Publishing Pty Ltd and Slater and Gordon Lawyers who provided each conference delegate with a copy of the book – “Know Where You Stand – Divorce, Separation, De Facto Relationships and the Family Law System” by Ian Shann.


EBE NSW News

Rob Powrie, Practice Director–National Native Title Tribunal speaking at the 2015 EBE NSW Legal Update Conference

Nick Clark, Chief Executive Officer – Rule of Law Institute of Australia speaking at the 2015 EBE NSW Legal Update Conference

Howard Brown, OAM, Vice -President -Victims of Crime Assistance League (VOCAL) speaking at the 2015 EBE NSW

Legal Update Conference

Conference delegates networking at the 2015 EBE NSW Legal Update Conference

Conference delegates talk to resource exhibitors at the 2015 EBE NSW Legal Update Conference


EBE NSW News

EBE NSW Rural Professional Development Event – Teaching the HSC Course (Year 12) in Business Studies or Legal Studies for the first time? – 24 October 2015EBE NSW President Joe Alvaro and EBE NSW Vice – President Cheryl Brennan travelled to Wagga Wagga to conduct the “Teaching the HSC Course (Year 12) in Business Studies or Legal Studies for the first time?” professional development course at Kooringal High School.

This NSW Board of Studies, Teaching and Educational Standards (NSW BOSTES) endorsed PD event was run in association with the Riverina Social Science Teachers Association. 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. Teachers also received some teaching and learning resources to take back to their classroom. Some feedback received from participants included:

“This was great to talk to other teachers and discuss their ideas. It was great to see that you are on the right track with things or better way to do things.”“Very well presented. Enjoyed receiving resources and will make good use of them.”“Continue to bring events to regional areas.”EBE NSW thanks the following supporter of this event:• The Big Issue Australia

HSIE Advisor 7–12 Learning and Leadership – Secondary Education, NSW Department of Education attends EBE NSW Board of Directors’ meeting – 19 October 2015Ms Jennifer Curtis, HSIE Advisor 7-12 – Learning and Leadership – Secondary Education from NSW Department of Education attended the EBE NSW Board of Directors meeting held on 19 October 2015 and provided Directors with an update in relation to:• Department of Education curriculum

support restructuring• HSC Online website• The “hsiensw.com” website and newsletters• BOSTES NSW position in relation to the

Australian curriculum• “International Studies” course.

Thank you to Ms Curtis for attending the Board meeting and updating Directors. Ms Curtis is happy to respond to queries or provide advice: [email protected]

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

EBE NSW3B Smalls RoadRYDE NSW 2112

hsiensw.com



Economics and Business News Bites

Compiled by Joe Alvaro, Marist College North Shore

Angus Deaton wins 2015 Nobel Prize in Economics

Professor Angus Deaton appears on screen as the winner of the Nobel Prize for Economics at the Royal Swedish Academy of Science,

in Stockholm. Photo: AP

Angus Deaton, a professor at Princeton, has won the Nobel prize in economics for his research into how people rich and poor make decisions about what to buy and how much to save. Recognising Deaton for his “analysis of consumption, poverty, and welfare,” the Nobel prize committee cited his diverse contributions to the study of consumer spending, with particular attention to the world’s poorest. Deaton has changed how economists think as well as how they conduct their research — helping bridge the divide between those who study the choices of individuals and those who study the greater economic forces that shape countries.

Asked about the refugee crisis sweeping Europe, Deaton expressed sympathy for those who have been uprooted by poverty and war. “What we’re seeing now is the result of hundreds of years of unequal development in the rich world, which has left a lot of the world behind,” he said. Deaton’s efforts surveying poor households — measuring malnutrition, living standards, and whether parents discriminate between boys and girls — has helped economists better

understand those who live on less than a dollar a day. Through his research, often with the World Bank, he has been a first-hand witness to the decline of extreme poverty in recent decades.* Reference: “Angus Deaton wins 2015 Nobel

prize in Economics” by Jeff Guo in The Sydney Morning Herald, 13 October 2015 http://www.smh.com.au/world/angus-deaton-wins-2015-nobel-prize-in-economics-20151012-gk7dwn.html#ixzz3qtqj3rGf (accessed on 8 November 2015)

* Syllabus link: BOSTES NSW HSC Economics Syllabus (2009) – Topic: “The Global Economy”

Domino’s to expand its French networkAustralian fast food business Domino’s has strengthened its beachhead in Europe by buying Pizza Sprint, a chain in Western France with 89 stores, for 35 million euro ($A54.87 million).The deal gives Domino’s a total of 330 stores in France and 1500 across Europe. * Reference: “Aussie pizzas invade France”,

The Daily Telegraph, 15 October 2015* Syllabus link: BOSTES NSW HSC Business

Studies Syllabus (2009) – Topic: “Marketing”

Image source: www.pontchateau-saintgildasdesbois.com

www.pontchateau-saintgildasdesbois.com


News Bites

Movement friendly workplacesMore than 95% of adults are classified as being inactive according to World Health Organization guidelines. The minimum recommendation is to accumulate at least 150 minutes of moderate intensity physical activity each week. The biggest hurdle, however, is time. Work hours alone make up 60% of people’s total working hours. The modern office is an inactivity trap. Between 65% and 75% of office working hours are spent sitting. Changing the office environment can help. One strategy is standing desks. The evidence that standing for periods throughout the day is beneficial for health has now been measured in a number of different scientific studies. In Scandinavian countries 90% of office workers have desks or workstations that can be used in either a standing or sitting position. Other strategies to create “movement friendly” spaces include the placement of kitchens, toilets, meeting rooms, stairs and lifts in areas requiring greater physical activity to get to and use.* Reference: “The sedentary office” by Professor

David Cameron-Smith in Choice Health Reader, Volume 21, No.7, September 2015

* Syllabus link: BOSTES NSW HSC Business Studies Syllabus (2010) – Topic: “Human Resources”

Standing desks are not a recent invention – Portrait of Elijah Boardman by Ralph Earl 1789. Image source, Wikimedia Commons:

https://commons.wikimedia.org/wiki/File:Earl_Ralph_Elijah_Boardman.jpg

https://commons.wikimedia.org/wiki/File

Earl_Ralph_Elijah_Boardman.jpg

Earl_Ralph_Elijah_Boardman.jpg


Legal News Bites Compiled by Joe Alvaro,

Marist College North Shore

Miscarriage of justiceThe state of New South Wales has been ordered by the Supreme Court to pay $4 million, plus legal costs, for malicious prosecution of a woman who was wrongfully convicted of soliciting to murder her husband. Roseanne Beckett spent more than 10 years in jail after being found guilty of plotting to kill her husband Barry Catt and perjury but her convictions were later overturned on appeal. Ms Beckett, from Wollongong, was released from jail in 2001, when new evidence came to light in the case.* Reference: http://www.abc.net.au/news/2015-

11-10/nsw-government-ordered-to-pay-$4m-over-beckett/6926520 (accessed on 13 December 2015)

* Syllabus link: BOSTES NSW HSC Legal Studies Syllabus (2009) – Topic: “Crime”

and inmates. Cigarettes, tobacco and smoking-related items such as matches, lighters and e-cigarettes will be confiscated and treated like other contraband. CSNSW Commissioner Peter Severin said common areas in prison buildings are already smoke free and the ban was now being extended to include inmate cells and outdoor areas.

* Reference: Media release from NSW Government (Justice – Corrective Services) – “NSW prisons smoke free” – 9 August 2015

* Syllabus link: BOSTES NSW HSC Legal Studies Syllabus (2009) – Topic: “Crime”

Arnott’s pays $51,000 for alleged misleading claims about the saturated fat content of Shapes Arnott’s Biscuits Ltd (Arnott’s) has paid penalties totalling $51,000 following the issue of five infringement notices by the Australian Competition and Consumer Commission relating to representations made by Arnott’s about its Shapes Light & Crispy product. Arnott’s also provided a court enforceable undertaking to the ACCC. Arnott’s represented on the packs of four varieties of Shapes Light & Crispy and a multipack between October 2014 and July 2015 that Shapes Light & Crispy contained “75% less saturated fat” than Arnott’s’ original Shapes biscuits, when in fact it contained approximately 60 per cent less saturated fat than original Shapes.

* Reference: Media release from the Australian Competition and Consumer Commission – “Arnott’s pays $51,000 for alleged misleading claims about the saturated fat content of Shapes” – 23 November 2015

* Syllabus link: BOSTES NSW HSC Legal Studies Syllabus (2009) – Topic: “Consumers”

Image source: https://commons.wikimedia.org/wiki/File:Papierosa_1_ubt_0069.jpeg

NSW prisons now smoke freeSmoking is now banned in all NSW correctional centres, reducing the harmful effects of tobacco smoke on hard-working prison staff. Corrective Services NSW (CSNSW) has been planning the transition to the new, healthier policy for more than 12 months, with the involvement of staff

http://www.abc.net.au/news/2015-11-10/nsw-government-ordered-to-pay-$4m-over-beckett/6926520





Papierosa_1_ubt_0069.jpeg


CommBank Teaching Awards 2015

Bronwyn Hession, Director – EBE NSW

It seems that there are still very few opportunities to encourage and recognise outstanding teachers. Innovative practices, quality pedagogies, inventive use of technologies, as well as passion, commitment, diligence, and impeccable professionalism are required of all members of the teaching profession, but their practice is seldom recognised and celebrated by the community as a whole.

The Commonwealth Bank has for some years now provided an opportunity for teachers to enhance their capabilities in developing and delivering engaging evidence based programs in schools that are designed to strengthen students’ financial literacy. The Commonwealth Bank Teaching Awards provide grants for teachers to develop and deliver an evidence-based financial education program to develop students’ understanding of how to effectively manage money. The programs are required to encompass the application of knowledge and skills to real world situations.

The awards are open to all teachers in Australian schools, K–12.

The application process is rigorous and the competition is strong. The judging panel includes education experts from schools, curriculum authorities as well as Commonwealth Bank senior staff. A clear marking rubric based on the application criteria guided the panel’s decisions.

In 2015, fifteen outstanding award recipients were recognised and celebrated at an awards celebration in Sydney. Some insights into two of these recipients and their award winning programs are provided below.

GRANT DENNIS, ALESCO SENIOR COLLEGE, NEWCASTLE Grant is a teacher of Mathematics and Retail at the college. Prior

to becoming a teacher, Grant worked in the retail industry for twenty two years, operating several franchises during that time and holding

a range of positions including store manager and marketing manager. Clearly this experience enabled him to envisage a very special learning opportunity for his students. Practical application of financial knowledge and skills to real world situations was upmost in his mind.

Grant launched a café at Alesco to help his students develop literacy skills in a practical and interactive environment. His students work collaboratively to run the café and learn and apply practical money and business management skills that set them up for life. They learn about customer service, commercial and business decision-making and how to deal with the public. Grant said these experiences help build each student’s confidence. Many of Grant’s students are considered to be ‘at risk’, perhaps of not completing school or finishing their studies. So engagement of every student and the relevance of their learning for life after school is very important.

Grant’s program complements the curriculum for Retail, Hospitality and Business Studies. Assessment of students’ competencies in these areas reinforces the need for every student to be involved and to achieve. As a result of his award, Grant hopes to expand the café program in 2016. The possibility of a mobile coffee cart is currently the subject of a feasibility study by Grant and his students.

In addition to receiving a grant award, Grant won the ‘Speciality Award’ category which recognises quality programs that focus on meeting the needs of a particular group of students through relevant and engaging ‘specialty’ activities.


Commbank awards

Well done Grant and the students at Alesco Senior College, Newcastle. A thoroughly well deserved award.

TERRIE FRANKLIN, MERCY CATHOLIC COLLEGE, CHATSWOOD.This grant application had two components. Terrie’s vision is

to use her grant to establish a ‘Finance Hub’ for young women that will foster Australia’s next generation of female business leaders. The hub will enable connections between established and successful women in business and Commerce students – ‘a mentoring relationship’. A unique feature of Terrie’s plan was also to connect her secondary Commerce students with a K–6 feeder school in Chatswood. Terrie’s students will utilise innovative technologies to design, create and present a multimedia storybook on financial literacy for students at Our Lady of Dolours Catholic Primary School.

Terrie’s approach to the 2015 CommBank grant application was to build on a 2014 ‘Storybook project’ that involved Year 9 Commerce

students and Year 6 students from the feeder school nearby. This involved collaboration and support from the Commonwealth Bank’s education team and focused on financial literacy and money management knowledge and skills development. Terrie’s extensive teaching career in teaching Economics, Business Studies and Commerce has enabled her to build particular expertise in utilising effective pedagogies to strengthen students’ financial literacy.

Terrie believes that the mentoring of her Commerce students by successful female business leaders will add considerable value to the outcomes of the program. She hopes that the experiences supported by the grant will act as catalysts to change the habits of students in relation to money management – encouraging students to take more responsibility for their own learning and to be more financially aware and financially literate.

Terrie was delighted to receive an additional award, the Technology Award, for her Storybook initiative. Terrie told EBE NSW that she learnt about the award opportunity at the 2014 EBE NSW Annual Conference. We commend Terrie for her initiative and look forward to updates about her innovative Finance Hub.

Need help teaching a syllabus dot point or information about teaching and learning resources?

EBE NSW Directors are available for advice and assistance to members in relation to the teaching and learning of Business Studies, Commerce, Economics and Legal Studies.

Email: [email protected]

EBE NSW Helpdesk

mailto:?subject=


Improving extended response writing in Stage Five Commerce using ALARM

Written by: Nick Ward (Ryde Secondary College) Reviewed by: Max Woods (Freshwater Senior Campus)A Learning and Response Matrix (ALARM) is a learning tool for students to consolidate their knowledge, and respond to not only extended response questions but also all the various levels of questions. ALARM has improved students’ comprehension of concepts and enhanced the quality of their extended responses.

The ALARM framework was developed by Max Woods, a dedicated ESL teacher from Freshwater Senior Campus. Its success at his school has seen it being introduced into a number of subjects, within a range of secondary schools in New South Wales. There is an active Edmodo group for ALARM with over 786 members.

This discussion will look at the use of ALARM with year ten Commerce. It was used as part of Core Part 2.2 Employment Issues, with one of the main concepts of the topic – types of employment contracts.

The first part of ALARM is the learning where the students are taught a concept, for example Modern Awards. With this concept, students allocate it under a gradation of learning skills. • Name and Define – What is the textbook

definition of the concept and the areas under consideration (the components)?

• Describe – What are the features/characteristics of each of the components and what are the features/characteristics of the concept?

• Explain Significance – What is the purpose/intention of each component? What is its cause, and effect of the concept?

• Analyse/Discuss – What are the positives and negatives of the concept and what is

the relationship between the components of the concept?

• Critically Analyse – What are the positives and negatives of each component/feature or the concept?

• Evaluate – Make a judgment of each component/feature or of the concept. How effective is it at achieving it?

Below is an example of the use of ALARM with the concept of a Modern Awards.

Name and DefineA modern award is a contract, which has the minimum employment standards.

DescribeThe contract sets out the minimum wage, hours of work, allowances, leave, superannuation, and redundancy entitlements for employees in each industry or occupation. There are 123 Modern Awards in Australia, with one for most occupations and industries.

Explain SignificanceAll Modern Awards are created and modified by the Fair Work Commission, as set out in the Fair Work Act 2009. They are designed to provide a fair minimum safety net, by taking into account relative living standards, and the needs of the low paid. It is also designed to promote social inclusion through increased workforce


Stage 5 Commerce

participation and provide remuneration for employees working overtime, unsocial, and/or irregular hours.

Analyse/DiscussAn advantage of a Modern Award is that it sets a minimum wage and conditions, it covers all employees performing a similar job, and it protects employees from exploitation. However, it is inflexible, as it may not suit all employees. It prevents recognition of individual initiative as all employees receive the same pay.

Critically AnalyseA Modern Award ensures that all people are treated consistently, regardless of their ability to negotiate with their employer. However, with all employees on the same pay, there is no incentive for them to perform better than their

colleagues. This may result in poor work ethic and poor quality output.

EvaluateA Modern Award is advantageous for people who struggle to negotiate because they are not disadvantaged through individual bargaining with an employer. If they did individually bargain, they would most likely experience difficulty, and it would only benefit those who could represent themselves best, rather than those who can do the better job.

The above example shows how a concept of a Modern Award can be expanded through ALARM. This information can also be put into an ALARM table, such as the one below. Note, this is a simplified matrix. There are further examples with prompting headings on the Edmodo ALARM group.

Name and Define Describe Explain

SignificanceAnalyse/Discuss

Critically Analyse +’s And/Or –’s

Evaluate

Modern Award

Enterprise Agreement

Common Law Contract

This scaffold allows students to start with the lower order conceptual learning skills of naming and defining, then describing the characteristics and then providing an explanation of a Modern Award. They may then learn to discuss how a Modern Award works to achieve its objective. Once these levels of content are achieved the students then learn to discuss the positives and/or negatives of a Modern Award. From this discussion, students are enabled to learn how to evaluate – that is, make a judgment of the effectiveness of a Modern Award. This is the first part of ALARM, the consolidation of the learning. This may be done in class and/or revision for various levels of questions including extended responses.

As Max Woods notes, the content is taught in the name and define, describe, explain and analyse

sections of the matrix. That is, students can get this information from the textbook/s. Students can be told that they are not learning up to and including the discuss part, rather they are just regurgitating information. Once students start to critically analyse and evaluate, students are thinking for themselves. They are making their own judgments, based on the previous components. This is emphasised to the students, that you cannot make a judgment if you don’t critically analyse, and you cannot critically analyse if you do not analyse/discuss, and you cannot discuss if you do not explain, you cannot explain if you do not describe, and you cannot describe if you do not know what it is.

The second part of ALARM is the responding, that is turning the scaffold into, in this case, an extended response. When students are given a


Stage 5 Commerce

question on a concept, for example a Modern Award, students use what they have learned to justify their responses. One of the functions of the verb in a question is to distinguish the level of information to either be learned or to provide in a response. For example:

Define a Modern AwardStudents learn and provide the name and define section.Describe a Modern AwardStudents learn and provide the name and define section, and then features/characteristics in the describe section. They may also provide examples at this stage.

Explain a Modern AwardStudents learn and provide the name and define, describe and then the purpose/function/role in the explain section.

Analyse/Discuss a Modern AwardStudents learn and provide the name and define, describe, explain and explain how it works in the discuss section.

Critically Analyse a Modern AwardStudents learn and provide the name and define, describe, explain, discuss and explain how it is positive and/or negative in the critically analyse section.

Evaluate a Modern AwardStudents learn and provide the name and define, describe, explain, discuss, critically analyse and explain to what extent it is effective in the evaluate section.Note: If the question is ‘evaluate’, it is best to put the evaluation first as a topic sentence or introduction and last as a conclusion or link to the question, so the reader clearly knows the premise and its justification.

A sample response to “evaluate a Modern Award” could be:

A Modern Award is advantageous for employees, who struggle to negotiate, because they are not disadvantaged through individual bargaining with an employer. A Modern Award is a contract, which has the minimum employment

standards. The contract sets out the minimum wage, hours of work, allowances, leave, superannuation, and redundancy entitlements for employees in each industry or occupation. There are 123 Modern Awards in Australia, with one for most occupations and industries. All Modern Awards are created and modified by the Fair Work Commission, as set out in the Fair Work Act 2009. They are designed to provide a fair minimum safety net, by taking into account relative living standards, and the needs of the low paid. It is also designed to promote social inclusion through increased workforce participation and provide remuneration for employees working overtime, unsocial, and/or irregular hours.

The advantage of a Modern award is that it establishes a minimum wage and working conditions. It covers all employees performing a similar job, and it protects employees from exploitation. However, it is inflexible as they may not suit all employees. Additionally, they prevent recognition of individual initiative as all employees receive the same pay.

Furthermore, with all employees on the same pay, there is no incentive for them to perform better than their colleagues. This may result in poor work ethic and lower quality of output. However, it does ensure that all people are treated consistently, regardless of their ability to negotiate with their employer.

A Modern Award is advantageous for people who cannot negotiate because they are not disadvantaged through individual bargaining with an employer. If they did individually bargain, they would most likely experience difficulty, and this situation would only benefit those who could represent themselves best, rather than those who can do the better job.

If the question was “discuss a Modern Award”, students would leave out the last paragraph. That is the beauty of ALARM, its flexibility can be used for different levels of questions.


Stage 5 Commerce

An effective method for students to check they have enough information for each part of the matrix is for students to highlight the different sections in different colours. For example, name and define in blue, describe in yellow, explain in pink, etc. This visual representation allows students to see what parts of their responses are strong, and which sections need additional information.

The way ALARM was introduced to year ten Commerce was:

1. First, students were taught the different types of employment contracts - Modern Awards, enterprise agreements, common law contracts in a previous lesson.

2. Then students were taught what ALARM was – not all students understood this initially. The class went through the concept of higher order thinking, and the general mark value of verbs – that is a definition is usually two marks, an explain four marks while an evaluate perhaps ten marks. The class had a discussion of why there were different levels of mark allocations for different verbs. A good activity is to get students to put the verbs in order of complexity. This generates an interesting discussion.

3. Next students were given the question “assess the three types of employment contracts in Australia to determine the most appropriate contract for a worker (cleaner) who has limited English speaking skills.” Students were instructed to construct a high quality response, even if it took all lesson.

4. Then students were given the model matrix below. The introduction (paragraph one), and the Modern Award (paragraph two) had already been prefilled. All students had to do was complete the matrix for enterprise agreement (paragraph three) and common law contract (paragraph four). Then they were to write a conclusion into the white cells.

5. Once the matrix was filled, students put the information into an extended response. This was done for homework.

6. In the next lesson, students swapped their extended response with the person next to them. They highlighted the different parts in different colours. For example, the name and define in blue, the describe in yellow, the explain in green, etc.

The simple matrix looks like this:

Paragraph 1: Introduction

Name and Define Describe Explain

SignificanceAnalyse/Discuss

Critically Analyse Evaluate

Paragraph Modern Award

Paragraph Enterprise Agreement

Paragraph Common Law Contract

Paragraph 5:Conclusion


Stage 5 Commerce

If you are going to trial ALARM, the strong advice is to first have a sample response. For example, with the question of “assess the three types of employment contracts in Australia to determine the most appropriate contract for a worker (cleaner) who has limited English speaking skills”, the Modern Award was prefilled. This model allowed students to see what was exactly required in each section. If this is not done, students will get confused about the whole matrix.

ALARM can also be used as a tool for online collaboration. In Option 11 – Running a Business, students learn about the appropriate structures for businesses − sole trader, partnership, private company, and incorporated association. To teach this, students were given the following scenario question:

Felix is a qualified electrician. He starts his own part-time business, doing jobs on customer premises and at his workshop. His expected turnover is $40,000 per year and he currently works alone. Evaluate the most appropriate business structure for Felix.

Students in groups completed the ALARM template on a shared Google Doc. Students were allocated a business structure (e.g. sole trader), and just completed the ALARM template row for that legal structure. Once students had completed their ‘row’ on the ALARM template, they then converted this into an extended response paragraph on another Google Doc. At the end of the lesson, students had completed an ALARM template, evaluating the various business structures and completed an extended response. This modeled students’ responses to others, allowed collaboration and integrated ICT into the classroom.

ALARM is an effective structured tool for students to consolidate their learning and respond to extended response questions. At Ryde Secondary College it had already been successfully implemented into other teachers’ classes. When it was trialed with year ten Commerce, there was an improvement in the quality of students’ responses. The benefit of ALARM is that it is a highly structured way to respond to a question – which the students prefer. It is also a great study tool, and when students respond to a question they understand the process logically and ask: ‘have I done the name and define?, have I done the describe?, have I done the explain?, etc’ – some students do a small checklist on the side of the response.

One of the major advantages of ALARM is when it is implemented throughout the school. At Ryde, it is currently being employed in year ten PDHPE, PASS and Geography, and stage six Legal Studies and Economics. This common language across the curriculum ensures students grasp the language and the levels of learning and responding skills.

ReferencesALARM YouTube Channel – https://www.youtube.com/channel/UCc6n-6CYip76qIUQdsqyIeA

ALARM Website – http://alarm.strikingly.com/

ALARM Edmodo Group – email [email protected] for the current group code

Information about Modern Awards was sourced from the Australian Fair Work Commission.

https://www.youtube.com/channel/UCc6n-6CYip76qIUQdsqyIeA

https://www.youtube.com/channel/UCc6n-6CYip76qIUQdsqyIeA

http://alarm.strikingly.com/



Protection and its Impact on the Australian Automobile Industry

Duc Nguyen and Tony Stokes, Australian Catholic University

This paper will identify the key arguments for protection, the main types of protection in use around the world and will analyze the effects of lowering protectionist policies in the Australian automobile industry.

Header image source: http://resources1.news.com.au/images/2013/04/09/1226615/441677-holden-worker.jpg

Protection, in the context of international trade, can be considered the governmental practice of safeguarding domestic industries against foreign competition. This is achieved through policies that give an advantage or promotes consumption of domestically produced goods over foreign competitors (Kessler 2010, p.243). Nations have protectionist mechanisms in place for various self-interest or state driven rationality such as; saving domestic jobs, taxation revenue, competing against cheap foreign labor, reducing trade deficits, self-interest political reasons and to penalize lax environmental standards (Pugel 2012, p. 198). The main argument for protection is that it is good for the nation as it facilitates in the country’s efforts to address market shortcomings, distortions, and failures and achieve objectives other than economic efficiency (Pugel 2012, p. 199). However, there are further ‘strategic’ arguments for protection of certain domestic industries, which vary depending upon the interest base group that advocates for protectionist measures of governmental policies, therefore, this paper will focus on the three main types of protectionist measures commonly used throughout the world.

The first main argument for protection is the infant industry argument. Advocates for this type of protection claim that new industries within the domestic market should be protected or provided with assistance, usually in the form of tax breaks or subsidies or tariffs or a combination of all, to foster the industry it in its ‘infant’ stages due to the economies of scale already achieved by existing foreign competitors. They reason

that domestic industries should be supported while in their infant stages to allow it to develop to an extent that enables it to be competitive nationally then international, through the gradual reduction of protectionist measures. To illustrate this argument, consider Figure 1 whereby non-Organisation for Economic Cooperation and Development (OECD) countries set high tariffs in the early stages of their industrial development to compete with the already established industries of OECD countries. For example, China and Thailand set their tariff rates at 24% respectively in 1996 to foster their domestic car manufacturing industries and applying this argument, they gradually reduce the percentage of tariff to 16% and 17% respectively in 1999, in effect forcing the domestic industries to mature and become more efficient to compete internationally.

Figure 1: Tariff reductions non-OECD countries

Source: Michael Emmery, Industry policy in Australia Research Paper 3, 1999-2000, Economics, Commerce and Industrial Relations Group

21 September 1999.

http://resources1.news.com.au/images/2013/04/09/1226615/441677-holden-worker.jpg

http://resources1.news.com.au/images/2013/04/09/1226615/441677-holden-worker.jpg


Economic policy

The second main argument is the prevention of dumping or counteracting dumping. This argument calls for the protection of domestic industries that are adversely exposed or affected by dumping practices of foreign firms and competitors. Dumping is the practice of a foreign firm selling products to a market at below normal market value, due to overstock or excess capacity. This practice is aimed at eliminating excess stock or driving out domestic competition by selling at below cost price to eliminate competition and/or gain market share (Kessler 2010, p.243).

Proponents of this argument advocate for retaliation by imposing tariffs or taxes or importation quotas or a combination of these on foreign goods linked to such practices. They point out that these practices have the ability to potentially destroy domestic industries by selling goods below cost. Consider the

Productivity Commission’s report presented in Table 1. The data presented demonstrates the Australian Government’s response to dumping activities of various regions, principally China. Between June 1999 and June 2012, the Australian Government has applied anti-dumping measures against China ranging from 3 measures totaling 13% on imports to a peak of 8 measures totaling 31% and 7 measures of 29% on imports in 2012 (Review into Anti-Dumping Arrangements 2012, p. 29). For example, in 2009 a case was lodged to the Australian government claiming that Chinese companies were dumping Capral Aluminium in Australia. This case was proven and the Australian authorities took action, increasing tariffs on these companies from 7% to 57% percent, as the potential to destroy local industries was deemed a high possibility (Greenwood 2015).

Table 1: Australian government responses to dumping by various nations

Source: 1989–2009 PC Inquiry Report; 2010–2012 Customs and Border Protection

The third main argument for protectionist measures around the world is the notion of national security and interests. This argument denotes that national security and important interest sectors such as military, telecommunication, steel, transportation, agriculture and petroleum should be protected in the national interest (Cowan 2013, p.36). Proponents of this argument question the premises of allowing foreign companies to manufacture or provide military products or other security sensitive products such as telecommunication networks. For example, the Chinese telecommunication company Huawei

was banned from tendering for contracts for the construction of the National Broadband Network due to national security concerns (Maley 2012). Supporters of this argument, claim that a domestic industry needs to be protected to ensure sufficient production and supply for the nation ensuring that it does not become reliant on other countries for security or national interest matters that may compromise national security or safety (Cowan 2013, p.37).

To illustrate these protectionist measures consider Figure 2 and Figure 3. Figure 2 outlines the combined assistance by industry groupings for 2011–12 which total $7.9 billion


Economic policy

in gross tariff output assistance in key areas of ‘national interests’ and Figure 3 emphasizes the Australian Governments budgetary outlay assistance to the service sector, totaling 41% in 2011–12, including electricity, gas, and transportation (National Commission of Audit, 2013).

As demonstrated through the three main protectionist measures, different agents with different interests have varying assertive approaches when it comes to the protection of particular industries. As such this paper will, therefore, draw upon two distinct types of protection to illustrate the main type of protection used throughout the world, in the engagement of trade. The first type of protection is through trade policies or tariffs and the second is the establishment of trade barriers or Non-Tariff Barriers (NTB).

Figure 2: Combined assistance for industry groups based on ‘national interest’

Source: National Commission of Audit, 2013

Source: Lloyd, Peter. “100 Years of Tariff Protection in Australia.” Australian Economic Review 48, no. 2 (July 1, 2008)

Source: National Commission of Audit, 2013

Figure 3: Australian government budgetary outlay assistance

Trade policy refers to the government’s power and the ability to construct trade policies which in effect set the rules for all imported goods within the domestic market. However, these ‘sets of rules’ generally take the form of tariffs with the principal objective of making the imported goods less competitive. Consider Figure 4, whereby Lloyd (2008) outlines the similarities of the Australian’s tariff rate to that of the United States, with both countries respectively increasing or decreasing tariffs in accordance with global economic influences. This fluctuation can also be seen as a direct approach to protect domestic industries as it is generally argued on the notion of rebalancing artificial comparative advantages foreign firms obtain by factors relating to production.

Figure 4: Australian and US tariff rates 1903–2004

The second category of protectionist methods used in the world is known as Non-tariff barriers to trade (NTBs) or sometimes called ‘Non-Tariff Measures (NTMs)’. NTBs include import quotas, importation licenses, product standard requirements, and government procurement policies. Import quotas are the restriction on the quantity of goods permitted into the country which effectively limits the amount of foreign goods as opposed to a tariff whereby the quantity is not restricted. Importation licenses require the importer to apply for and receive approval to import goods. It is a form of bureaucratic cost and costs associated are; inventory cost, opportunity cost and procedural cost in obtaining the license which may or


Economic policy

may not be approved. Product standards or quarantine and quality controls are considered to be the discrimination of products based on certain aspects that differentiate it from domestic products which unfavorably affects it more so than domestic products. Government procurement policies are the laws in place that favor domestic goods over foreign firm’s goods or service (Pugel, 2012. P. 167).

Given the various effects of tariffs and NTBs on various industries, this paper will now conclude with an analysis of the reduction of protectionist measures on the Australian Automotive Industry (AAI). The AAI has long been protected within the Australian economy, specifically with regards to the manufacturing of passenger motor vehicles (PMV) (Lloyd 2008, p.99 see also; Chand 1999, p.28). Over the span of 70 years, from 1940s till now, the AAI has been protected by tariffs and non-tariff barriers (NTB) including subsidies, investment grants, co-investments, bailouts, import quotas, ad hoc grants and government legislation such as the Automotive Transformative Scheme Act 2009 (National Commission of Audit, 2013, see also; Skentzos 2008 & Davison 2013).

However, within the later periods of the 20th century, 1970s to 2001, Australia moved towards systematically reducing its protectionist measures. This was the result of the political decisions of the Labour government, Hawke-Keating governments, who were instrumental in the reduction of Australia’s trade barriers and protectionist measures, transcending Australia towards trade liberalisation (Leigh 2002, p.487).

To demonstrate the reduction in protectionist measures in relation to the AAI, consider Figure 5 whereby the reduction of government assistance, tariffs and NTBs, resulted in the decline of production of PMV’s from 50% in 1990 to 20% in 2001 (Emmery, 1999). Additionally, effective rates of assistance to the manufacturing industries have also been progressively reduced from 35% to 5% in 2000-01 (Figure 6), with NTBs also largely eliminated (Leigh 2002, p.488 see also; Emmery 1999).

Figure 5: Reductions in effective rates of protection 1990-2001

Source: Productivity Commission, Trade and Assistance Review, 1997 p.98.

Figure 6 Reductions in Tariffs 1990-2015

Source: Review into Anti-Dumping Arrangements 2012, p. 32

To fully understand the effects of reductions in protectionist measures on the AAI, mainly tariffs and importation quotas, consider Figure 7.

Figure 7: Motor vehicle production in Australia and the TWI

Source: DDISR (2009); Department of industry (2013c); DITR (2003); RBA (2013).


Economic policy

Figure 7 demonstrates the steady decline of motor vehicle production in Australia from a peak of 400,000 plus units in 2003 to above 200,000 units in 2011. The production of domestic vehicles, for domestic and export market saw a steady decline as a direct result of the reduction in protectionist measures, as more foreign firms were exporting to Australia due to the reduction in tariffs. Furthermore, as a result of increase imports from foreign firms, the Australia market quickly became one of the most saturated and fragmented markets for the automotive industry (Productivity Commission 2014, p.22). Additionally, as seen in Figure 7, the Australian Dollar also played a major role in the production and exportation of domestically produced vehicles. As the Australian Dollar rose (TWI), the production of vehicles for local and international markets fell dramatically. The rise of the Australian Dollar meant that the AAI was less competitive in terms of price which translated into increased imports and fewer exports.

Other contributing factors to the decline of the AAI include the Free Trade Agreement (FTA) with automotive manufacturing countries like Thailand and Japan which increased the competitiveness of foreign imports, as factors relating to production were more efficient than those of Australia. For example, by 2013 the AAI produced a total of 118,510 vehicles, a massive fall in production as compared to the peak in 2003 of 400,000 plus units. In addition, the Free Trade Agreement between Thailand and Australia has seen the number of cars imported from our Asia-Pacific Thailand more than double to 160,000 per annum, while new vehicle exports from Australia to Thailand are almost negligible. This is represented in Figure 8, outlining the difference in domestic production of PMV and the increase in imports of PMV (Davison 2013).

Figure 8: Domestically produced and imported passenger motor vehicles in Australia

Source: Key Automotive Statistics 2012, p.7

The effects on the AAI in recent years resulting from reduction in protectionist measures can be wide ranging with different proponents for protectionist measures arguing on different aspects of the Australian economy. For example, the Rudd-Gillard Labour government claimed Australia will lose valuable skill bases and capabilities in the manufacturing sectors (Davison 2012). Additionally, the Australian Motor Industry Federation (AMIF) (2011) claims that without government assistance the potential loss of inherent design, engineering capability, vehicle retailing and service and repair centers will result in mass job losses with overall negative implications on the society and economy (AMIF 2011). Other claims go further and argue that without decisive intervention and protection or assistance for the AAI Australia’s future in research and development (R&D) will also be hindered by the potential loss of important segments of the nation’s technological base (Toner, 2013).

Given the wild ranging implications on the AAI, this paper will conclude by reviewing the direct impacts on job losses and components manufacturing in Australia. The National Australia Bank (NAB) (2014), Table 2, identified at risk jobs in the AAI to be at 45,000, due to reduction in protectionism and non-intervention, with components manufacturing


Economic policy

at 37,000 with over 3000 businesses directly affected and at risk of closure (NAB 2014).

Though these claims by various interest groups may contain merit, it is also critical to consider that during the period of 1997 to 2012, an estimated $30 billion AUD of assistance has been provided to the AAI (Productivity Commission Inquiry Report 2014). It is then reasonable to conclude, that

while the higher value of the dollar was a deterrent in recent years, the AAI was never sustainable without government protection and assistance. Therefore, the concluding result of the reduction in protectionist measures for the AAI is the closure of the three remaining Australian based automotive manufacturing plants, Holden, Ford and Toyota by 2017 (Commonwealth Parliament, 2014).

Table 2: Motor vehicle industry Australia characteristics

ReferencesAllen Consulting Group. The Strategic Role of the Australian Automotive Manufacturing Industry, 2013. http://www.acilallen.com.au/projects/1/economic-analysis/108/strategic-role-of-the-australian-automotive-manufacturing-industry.AM, Mar 24 2012 at 12:01 AM Updated Mar 24 2012 at 2:42. “Labor’s Great Car Industry Betrayal.” Financial Review. Accessed March 15, 2015. http://afr.com/business/manufacturing/labors-great-car-industry-betrayal-20120323-j39xr.Australian Government. Review into Anti-Dumping Arrangements, November 2012. http://www.adcommission.gov.au/reference-material/documents/Brumby-Anti-Dumping-Review-Final-Report.pdf.Australian Government, Department of Industry. Key Automotive Statistics, 2012. http://www.industry.gov.au/industry/IndustrySectors/automotive/Statistics/Documents/KeyAutomotiveStatistics2012.pdf.

Australian Government, National Commission of Audit; jurisdiction=Commonwealth of Australia; “National Commission of Audit.” Accessed March 17, 2015. http://www.ncoa.gov.au/report/appendix-vol-2/10-1-industry-assistance.html.Australian Motor Industry Federation. An Industry At Crossroads, July 6, 2011. http://www.amif.com.au/Portals/0/PC%20Review.pdf.Australian Productivity Commission. Australia’s Automotive Manufacturing Industry - Productivity Commission Public Inquiry. Productivity Commission Inquiry Report, March 31, 2014. http://www.pc.gov.au/inquiries/completed/automotive.Chand, Satish. “Trade Liberalization and Productivity Growth: Time-Series Evidence from Australian Manufacturing.” Economic Record 75, no. 1 (March 1, 1999): 28–36. doi:10.1111/j.1475-4932.1999.tb02431.x.Commonwealth Parliament; Parliament House, Canberra. “Automotive Industry Package; Budget Review 2014 –15.” Text, May 2014. http://www.aph.gov.au/About_Parliament/Parliamentary_

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Economic policy

Departments/Parliamentary_Library/pubs/rp/BudgetReview201415/Automotive#_ftn2.Commonwealth Parliament; Parliament House, Canberra. “Industry Policy in Australia.” Text. Accessed March 15, 2015. http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp9900/2000RP03.Cowan, Simon. “The Spectre of Protectionism Still Haunts Australia’s Economy.” A Journal of Public Policy and Ideas 28, no. 4 (Summer /2013 2012): 34–38.Davison, Remy. “Australia’s Choice: Pay for a Car Industry, or Live with the Consequences.” The Conversation, July 18, 2012. http://theconversation.com/australias-choice-pay-for-a-car-industry-or-live-with-the-consequences-8305.Davison, Remy. “FactCheck: Do Other Countries Subsidise Their Car Industry More than We Do?” The Conversation, July 26, 2013. http://theconversation.com/factcheck-do-other-countries-subsidise-their-car-industry-more-than-we-do-16308.Emmery, Michael. Australian Manufacturing: A Brief History of Industry Policy and Trade Liberalisation. Industry Policy in Australia. Economics, Commerce and Industrial Relations Group, October 19, 1999. http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp9900/2000RP07.Greenwood, Ross. “Dumped Goods Are a Killer for Industry.” News.com.au, March 10, 2015. http://www.news.com.au/finance/small-business/dumped-goods-are-a-killer-for-industry/story-fn9evb64-1227255475808.Haas, D. C. “On Four Wheels: Protectionism and the Australian Automotive Industry 1896 to 2012 – a Timeline.” On Four Wheels, February 26, 2013.

http://onfourwheels.blogspot.com.au/2013/02/protectionism-and-australian-automotive.html.Kessler, Jeffrey. “Contingent Protectionism in International Trade.” Stanford Journal of International Law, 2010. Academic OneFile.Leigh, Andrew. “Trade Liberalisation and the Australian Labor Party.” Australian Journal of Politics and History 48, no. 4 (2002): 487–508.Lloyd, Peter. “100 Years of Tariff Protection in Australia.” Australian Economic History Review 48, no. 2 (July 1, 2008): 99–145. doi:10.1111/j.1467-8446.2008.00233.x.Maley, Paul. “Probe in UK Led to Huawei NBN Ban.” TheAustralian, March 29, 2012. http://www.theaustralian.com.au/business/in-depth/probe-in-uk-led-to-huawei-nbn-ban/story-e6frgaif-1226312911964.National Australia Bank. Motor Vehicle Headwinds: Macroeconomic, Industry & Markets Research, February 11, 2014. http://business.nab.com.au/wp-content/uploads/2014/02/motor-vehicle-closures-11-02-2014.pdf.Skentzos, George. “Rudd Announces $6bn Bailout Plan | CarAdvice.” CarAdvice.com.au, November 10, 2008. http://www.caradvice.com.au/18775/rudd-announces-6bn-bailout-plan-headstart-for-2010-tariff-reduction/.Spinks, Jez. “End of Australian-Made Cars : What Happened and What It Means | CarAdvice.” CarAdvice.com.au, February 11, 2014. http://www.caradvice.com.au/269528/end-of-australian-made-cars-what-happened-and-what-it-means/.Toner, Phillip. “What Do We Lose If the Car Industry Is Allowed to Fail?” Text. ABC News, August 14, 2013. http://www.abc.net.au/news/2013-08-14/toner---car-manufacturing-in-australia/4886462.

http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp9900/2000RP03



http://theconversation.com/australias-choice-pay-for-a-car-industry-or-live-with-the-consequences-8305



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News.com.au

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http://www.abc.net.au/news/2013-08-14/toner---car-manufacturing-in-australia/4886462


ASX Schools Sharemarket Game 2 2015

Amanda Mior, ASX Sharemarket Game Coordinator

The ASX Schools Sharemarket Game 2 finished on 28 October 2015. This was quite a challenging game with the market experiencing some significant falls only to turn around and recover towards the end.

At the end of the Game, the average portfolio value was $50,731 and 62% of syndicates finished in profit. The Game brings real life share market conditions into the classroom. Students receive a virtual $50,000 and over a 10 week period they can buy and sell shares in 200 listed companies using live market prices. Students can form syndicates to improve their teamwork skills and teachers can monitor and play alongside their students. Game 2 National 1st place was Drouin Secondary College, Year 10 students, Trey Dekker, Zac Trewin and Luke Stow who finished with a portfolio value of $64,829. Before starting, the students spent some time researching stocks, “Before investing in any of the companies, we researched how well the share prices were going and looked for trends. We studied the charts for each company and tried to predict whether the prices were about to rise or fall.” They also focussed on stocks that they were familiar with, “…We chose companies we were familiar with so we could have a better insight into what their core business was and how well they were coming along with sales.” The students bought and held for most of the Game…making the decision when the market fell to hold, “…Not long after the Game began the sharemarket fell and shares in many companies lost value. In this situation we

Drouin Secondary College, Year 10 students, Trey Dekker, Zac Trewin and Luke Stow

thought it was best to sit and watch and not make trades unless we really needed to.”

NSW/ACT 1st place and national 3rd place was James Ruse Agricultural High School, Year 9 students Harrison Lin, Jeremy Wong and Sunny Guan. Their final portfolio value was $63,991. These students reacted a little differently when the market fell, they said, “Both these stocks (BSL – Bluescope and REG – Regis) went up just when the ASX 200 near-crashed, not once, but twice. We sold BSL after it dropped quite heavily; it profited us around $2,500. Because of the sudden drop from Bluescope, we sold Regis within a week. Regis profited us around $1,700….” The students chose to take the profit they had in order to protect their portfolio. The Game is a great learning experience for students, as it brings the world of investment into their classroom. It encourages students to keep up with what is happening globally and in the economy.Registrations for Game 1 2016 open on 11 February and the Game runs from 10 March to 18 May. To sign up for an email reminder to get your students involved visit: https://game.asx.com.au/game/info/school/about-the-game

James Ruse Agricultural High School, Year 9 students Harrison Lin, Jeremy Wong and Sunny Guan.

https://game.asx.com.au/game/info/school/about

https://game.asx.com.au/game/info/school/about


The poem uses the language and follows the style of the popular early 20th century Australian poet, CJ Dennis. 2015 marks the centenary of his best known work, The Songs of a Sentimental Bloke.

Barry is well known to Economics and Legal Studies teachers in NSW. As a NSW Department of Education Curriculum Consultant in 1987–88, Mr Collier was instrumental in developing the first Legal Studies Syllabus courses for HSC students in NSW. During this time, he also served as President of the inaugural Legal Education Teachers’ Association (‘LETA’).

Barry’s contribution to Economics education encompassed every aspect of teaching and learning, including the development and implementation of the NSW HSC Economics Curriculum, the role of Chief Examiner for the HSC Economics Examinations, and authorship of eleven Economics textbooks and workbooks for HSC candidates. Mr Collier’s textbooks are still regarded by many teachers as the only text resources that were authentically accessible to students (and teachers) from all schools and backgrounds. Mr Collier’s capacity to blend economic theory and its application to the real economy through his writing is regarded as unique.

Barry’s superb writing skills we now see extend to other literary genres, as evidenced by this piece which he so graciously agreed to share. Economists would classify this as ‘diversification’. Thank you Barry. EBE members will undoubtedly enjoy your work.

Bronwyn HessionDirector, EBE NSW

Barry Collier Diversifies!

Song of the Headmaster: Then & Now (with apologies to C J Dennis)

Barry CollierI

Now look ‘ere at me little School: ain’t she a flamin’ beaut?set among tall trees ‘n’ hillswiv the odd snake an’ bandicoot.

An’ take a squiz at me populationout in me playground where you’ll spot kids from ‘cross our nation - an’ spot a ginger nut, ‘ere an’ there. An’ ‘ere’s our bonzer ‘quipment(some lurkin’ kid sez: “yer jokin’ - anyfin’ any good ‘round ‘eregets knocked off or gets broken!”)

She’s a model fer all schools -new kids got nuffin’ to fear-we ain’t got any rules:ain’t no problems ‘ere!

(Jist don’t cha smoke in public,an’ fix yeh tie, yeh little grub:keep up th’ image of me Schooldown at me Bowlin’ Club!)

II

Division ov our labour -I learnt in Economics 1 -in Committees we all favour:that’s th’ way t’ get things done!

Barry has kindly granted permission for EBE NSW to publish one of his 2015 works, Song of the Headmaster: Then & Now (with apologies to C J Dennis).


Song of the Headmaster: Then & Now

I got Committees fer our festivals,an’ ‘ow the dosh we raise gits spent;there’s Committees fer our charities an’ fer me School’s environment.

An’ if we gittin’ short on funds, I’ll give th’ P&C me balance sheet,I’ll explain in detail all me sumsan’ the bills we jist can’t meet.

(But we gotta ‘ave our silver spoons,an’ our crested butter knives,an’ presents fer our visit’rs,an’ flowers fer their wives.)

III

Now early each December,much t’ me great delight,comes the event we all remember:it’s our Presentation Night!

The ‘all is decked in greenery, there’s polish on the floors;so impressive is the scenery,some is turned away at th’ doors.

An’ I arrive all dignifiedwiv me special guest;th’ solemnity is signifiedby me academic dress!

An’ speeches? Well, we ‘ave a few-includin’ one from me-th’ choir sings a song or two(but never quite in key.)

I’m up on stage, an’ lookin’ proud,Sittin’ there tryin’ t’ memorise

Th’ names as they git read out loud(But then ev’ry kid gets a prize!)

IV

But now I’m so much older,I gotta get things off me chest;gotta sit an’ chew things over, an’ do what I think is best.

Chalk ‘n’ blackboard have both gone,kids each got their own computer; seems like education’s long moved on: now they call me a trouble-shooter!

An’ kids are whingin’ more these dayscranky their internet goes too slow:now it’s me who’s runnin’ BBQsto get me School more dough.

When I talk now to me teachers, they just sneer and give me lip-an’ none ov ‘em gives me creditfer bein’ the captain ov the ship.

An’ now at me School assemblies,I ‘ave to yell an’ scream an’ shout, but none ov the kids take notice:me old microphone’s always out!

Respect fer me’s now all put on,headmasterin’ jist ain’t the same:if kids do somethin’ wrong at ‘omeI’m the coot their mums all blame.

Been boss ‘round ‘ere fer o’ so long, but now feel I can’t even inspirea choko vine up over a lavat’ry wall:time fer me to up, and to retire!


The Australian economy had grown steadily from 1993 to the middle of 2008, recording one of the highest average rates of growth among OECD nations.

An Overview of the State of the Australian Economy in 2015

Dr Anthony Stokes and Dr Sarah WrightHSC Enrichment Talk in Economics

Australian Catholic University, Strathfield

Australia had an average growth in Real GDP of close to 4 percent per annum (Figure 1). This economic growth contributed to a decline in Australia’s unemployment rate to reach a 30 year low. However, this relatively high and continuous level of growth was dampened as a result of the Global Financial Crisis. The growth rate has remained low in recent years due to the sovereign debt issues in Europe and low levels of business and consumer confidence in Australia. Let’s look at the overall state of the Australian economy.

Figure 1: Australia’s GDP

Australia’s Economic Growth PerformanceWhile several major countries have had their most serious recession in the post-War period, Australia was able to avoid recession. We had a relatively sharp but very brief downturn in aggregate demand and economic activity

late in 2008, and then returned to a path of expansion during the first half of 2009. The ABS’s most recent seasonally adjusted estimate of Real GDP was that it grew by 2.3 percent in the year to March 2015. This is lower than the government would like, in terms of creating enough demand, to reduce the level of unemployment. It is also important to note that an indicator of the strength of demand in Australia is the level of Gross National Expenditure which increased by only 1.5 percent in the 12 months to March 2015. So despite RBA cuts in interest rates, domestic growth is currently at a relatively low level.

The Australian Bureau of Statistics (March, 2015) reports that economic growth (in seasonally adjusted volume terms) over the past four quarters was driven by increases in Exports (8.1 percentage points), Household Consumption Expenditure (2.6 percentage points), and Government Consumption Expenditure (1.7 percentage points). Offsetting the growth during the past four quarters was a fall in Private Investment (2.2 percentage points) (despite an increase in dwelling construction by 15.2 percentage points), Government Capital Expenditure (declining 9.1 percentage points) and imports increasing 3.3 percentage points. The impact of these changes on GDP is reflected in Figure 2.


Australian Economy in 2015

Figure 2: Contributions to Australia’s Economic Growth Rate, 12 Months to March 2015

Source: ABS, 5206.0

From the March quarter 2014 to March quarter 2015, mining (0.5 percentage points), financial and insurance services (0.5 percentage points), information media and telecommunications (0.3 percentage points) and health care and social assistance (0.3 percentage points) industries were the largest contributors to total trend growth. Professional, scientific and technical services (–0.4 percentage points) and Construction (–0.2 percentage points) were the largest detractors in trend terms.

Figure 3: Contribution to Growth by Industries, 12 Months to March 2015

Source: ABS, 5206.0

The main factor impacting on Australia’s future growth is the global economy. While there has been some improvements, especially in regards to the sovereign debt problems in Europe and spending and revenue issues in the USA. There has been a slowing of economic growth in China and a change in China’s priorities away from capital works and infrastructure. As can

be seen in Figure 4, this has led to a decline in business confidence. Lower levels of consumer confidence are also reflected in excess capacity in businesses as demand remains low. While there were signs of improvement at the end of 2013, consumer and business confidence have declined since the 2014-15 Budget was brought down. However, there has not been sufficient time to show the impact of the business tax concessions from the 2015-16 Budget in the data.

Figure 4: NAB Business Survey

Australia’s External BalanceThe rise in the value of the Australian dollar in recent years has led to a loss of international competitiveness. This has tended to impact mostly on manufacturing which has declined most since 2007 (Figure 5). Service industries have improved in recent times due to the decline in the value of the Australian dollar.

Figure 5: Composition of Australia’s Exports

Source: RBA



Steady growth in India and China has led to an increased demand for Australia’s natural resources and rising mineral prices leading to an increase in the overall share of exports as a percentage of GDP and an overall improvement in the Current Account Deficit in 2014(Figure 6). Since then the lower levels of demand from these areas and lower commodity prices has led to a trade deficit in 2015. The Current Account Deficit has been below its long term average of 4.5 percent of GDP for most of the last six years and has fluctuated around 3 percent in the last year. Australia’s Net Foreign Debt has risen to $955 billion and its share, as a percentage of GDP, has risen to 61.3 percent, compared to 55.5 percent a year earlier (Figure 7). This is at least partly due to the lower value of the Australian dollar in the period but also lower levels of equity investment in Australia.

Figure 6: Australia’s Current Account Balance as a Percentage of GDP

Australia’s relatively high dollar has been driven by a 50 year high Terms of Trade and relatively higher interest rate differentials. While the terms of trade recorded a substantial rise in 2011, it has generally declined since the second half of 2012 due to global instability. Fluctuations in the Terms of Trade and commodity prices are usually reflected with comparable changes in the value of the Australian dollar.

Figure 7: Australia’s Net Foreign Liabilities as a Percentage of GDP

Employment in AustraliaThe high rate of economic growth in Australia in recent years led to increased employment and a subsequent decline in the unemployment rate to 5.1 percent in the middle of 2012 (Figure 8). As the growth rate slowed, due to increased uncertainty in the global economy, the unemployment rate rose to 6.2 percent in April 2015. Generally a level of economic growth of around 2-3 percent is required to reduce the level of unemployment in Australia. This is determined by considering the level of labour productivity in the workforce and the increase in the number of workers joining the workforce.

Figure 8: Australia’s Unemployment Rate

Source: ABS and RBA, 2015

The participation rate rose considerably after 2005 (Figure 9). This was partly caused by



higher growth rates, and as a result more job opportunities, but also as a result of industrial relations policy changes, such as WorkChoices, that created increased labour market flexibility and more part-time and casual employment opportunities. Since 2010 the participation rate has fallen as global and domestic growth has slowed. The greater demand for labour and increased labour market flexibility has also led to an increase in the participation rate up till 2010, although it appears that a participation rate of around 66 percent could be a constraining factor for the workforce in the current economic conditions. In April 2015 the participation rate stood at 64.8 percent. At the same time, the employment to working age population has also declined, showing that a smaller percentage of the working age population are being employed.

Figure 9: Australia’s Employment and Participation Rates


The Growth of Part-time EmploymentOver the last 30 years part-time employment has increased at a greater rate than full-time employment (Figure 10). As a result the proportion of part-time employed persons has risen over the period, increasing from 17 percent in 1983-84 to 31 percent in 2015. Between 2003 and 2008 full-time employment grew at a faster rate than part-time employment. This was a reflection of the tightening of the labour market. During the

Global Financial Crisis the opposite occurred and full-time jobs were replaced by part-time jobs. However, from 2010 to 2012 full-time positions began to rise again although this growth was slow. Since 2012 there has been more growth in part-time jobs than full-time jobs. In April 2015 full-time employment fell 19,000 and part-time employment rose 32,000.

Figure 10: Full-time and Part-time Employment Figures for Australia.

Source: ABS, 2015

Where has the jobs growth been?Another important consequence of changes in global and domestic demand and the value of the Australian dollar is the change in the level of employment in Australia’s industries. While the mining industry had the greatest percentage increase in employment in the last decade, it is still a very capital intensive industry and only employs 2.4 percent of Australia’s workforce. The largest increase in employment in the last four years has been in household services and business services (Figure 11). The industry that shed the most jobs in the last 4 years was manufacturing, although there is some sign of improvement as a result of the lower Australian dollar. Since 2013 employment in the mining industry has fallen, suggesting that the mining boom is over for now.



Figure 11: Employment Growth by Industry 2011-2015


Inflationary TrendsInflation has been relatively low in the year up till March 2015 and remained below the RBA’s 2-3 percent inflation target during that period (Figure 12). In March 2015 inflation was estimated at 1.3 percent per annum. Contributing most to the inflation figures during the past twelve months were rises in housing costs (+2.7 percent), education (+5.4 percent), health (+4.4 percent) and alcohol and tobacco (+5.2 percent) (ABS, 2015). Despite the lower value of the Australian dollar there were three areas of decline in consumer prices. They were Transport (-6.2), Communication (-4.5) and Clothing and Footwear (-0.7). The main factor that drove down the price of the transport index and lowered the overall level of inflation in the 12 months to March 2015 was falling world petrol prices.

Figure 12: Australia’s Consumer Price Index

The Reserve Bank does not consider that inflationary pressures are a problem at this time as the underlying inflation rate is at the bottom of the 2-3 percent target range. This contributed to their decision to lower the cash rate to 2.0 percent in May 2015.

An additional challenge to maintaining a low inflation rate is restraining wage increases. According to the ABS (2015) the Wage Price Index (WPI) only increased 2.3 percent from March 2014 to March 2015. The WPI for the public sector increased 2.5 percent compared to 2.2 percent for the private sector (ABS cat no. 6345.0). While private sector wages have tended to rise more than public sector wages, as governments attempted to wind back their spending to achieve fiscal consolidation, these findings suggest that since the GFC wages have continued to rise more slowly for the private sector.

The year-ended pace of wage growth was about 1.3 percentage point below its long-run average and the slowest pace in the 18-year history of this series. The RBA considers that the decline in wage growth over the past three years was consistent with the increase in the unemployment rate over the same period. Business surveys and liaison suggested that wage pressures were likely to remain constrained over the year ahead.

Figure 13: Private and Public Sector Wage Growth in Australia




What are the Challenges Facing the Australian Economy?The RBA (2015) considers that

the global economy is expanding at a moderate pace, but some key commodity prices are much lower than a year ago. This trend appears largely to reflect increased supply, including from Australia. Australia’s terms of trade are falling nonetheless. In Australia, the available information suggests the economy has continued to grow, but at a rate somewhat below its longer-term average. Household spending has improved, including a large rise in dwelling construction, and exports are rising. But a key drag on private demand is weakness in business capital expenditure in both the mining and non-mining sectors and this is likely to persist over the coming year. Public spending is also scheduled to be subdued. Overall, the economy is likely to be operating with a degree of spare capacity for some time yet. With very slow growth in labour costs, inflation is forecast to remain consistent with the target over the next one to two years, even with a lower exchange rate (Statement by Glenn Stevens, Governor: Monetary Policy Decision, June 2015).

While interest rates are likely to remain around the 2.0 percent cash rate in the near future, the 2015-16 Federal Budget may also add some stimulus to the small business sector and the policy mix is likely to increase aggregate

demand in the coming year. Budget estimates predict an increase in unemployment to 6.5 percent, despite an expected economic growth rate of 2.75 percent. This combined scenario looks unlikely, if the growth target is reached then unemployment is likely to be lower than predicted.

Reference ListAustralian Bureau of Statistics (various), Australian National Accounts, Cat.No. 5602.0. Canberra.Australian Bureau of Statistics (various), Employee Earnings and Hours, Cat.No. 6306.0. Canberra.Australian Bureau of Statistics (various), The Labour Force, Cat.No. 6203.0. Canberra.Reserve Bank of Australia (various), Reserve Bank Bulletin, Canberra.International Monetary Fund (2015), World Economic Outlook, available at http://www.imf.org/ Stokes, A. (2013), On the Road to Recovery: Are we there yet? Sydney. Greenacre Educational Publications.Stokes, A. and S. Wright (2014), The Changing Nature of the Labour Market in Australia in 2014, Sydney. Greenacre Educational Publications.Wright, S. (2013), Time to Measure the Impact of the Fair Work Act, Sydney. Greenacre Educational Publications.

WebsitesAustralian Bureau of Statistics. http://www.abs.gov.auGreenacre Educational Publications. http://homepages.ihug.com.au/~gep/Reserve Bank of Australia. http://www.rba.gov.au/

Cat.No

Cat.No

Cat.No

http://www.imf.org/

http://www.abs.gov.au

http://homepages.ihug.com.au/~gep/

http://www.rba.gov.au/


The world is changing rapidly. Australia’s economy is being impacted by global competition, digital disruption and an ageing population/shrinking workforce (FYA 2015c). We are also being impacted by global challenges related to inequality, geopolitical instability, sustainability of resources and climate change (FYA 2015c).

The importance of enterprise skills to prepare students for the new work order

Georgie Swan, Foundation for Young Australians

While the challenges are significant, the Foundation for Young Australians (FYA) sees an opportunity to sure up our nation’s future by investing in the next generation, backing young people to lead economic and social change.

“If we equip our young people with the right set of skills, a thirst for innovation, and the ability to collaborate, we can ensure they will take our nation’s economy in a positive direction and build the kind of lives and society for themselves we would all hope for our children.” Jan Owen, CEO, Foundation for Young Australians.

The world of work is changingA fifteen year old today will enter a workforce that has been transformed:

• 40% of jobs are at risk of automation – with 70% expected to be entry-level jobs

• 90% of jobs will require digital literacy

• 11% of service jobs could be provided from overseas

• Increased likelihood of working in non-standard working arrangements such as self-employment. Thirty per cent of Australian workers are already participating in flexible working arrangements (FYA 2015a).

Preparing young people for the future of workTo make the most of a world that is more complex, globally competitive and precarious, young people will need skills that help them to be enterprising (FYA 2015c). These are different skills than technical skills considered important for a particular field of work. Enterprise skills are generic skills (see Figure 1) such as communication, project management, financial and digital literacy, the ability to critically asses information and be creative and innovative. Enterprise skills are transferable across different jobs and have found to be a more powerful predictor of long-term job success and performance than technical knowledge (FYA 2015c).

Young people need to learn enterprise skills (see Figure 1) now to prepare them for the economy of the future, so they can become job creators, not just job seekers, and navigate more complex careers (FYA 2015b).

The average young person will have 17 different jobs across five different industries throughtout their lifetime

(McCrindle 2015)


Enterprising skills in Australian schools today

Enterprise Skills

Figure 1: Enterprise skills

This generation of young people will [need to] promote innovation and entrepreneurialism and grow our economy to

maintain our standard of living. (Phillip Lowe, Deputy Governor of the Reserve Bank of Australia, 2014)

Australian baseline proficient. Australia is ranked 2nd in international rankings.

• Problem solving: 35% of all and 62% of Indigenous 15 year olds did not meet Australian baseline proficiency. Australia is ranked 11th in International rankings.

• Digital literacy: 35% of all, and 64% of Indigenous Year 10 students did not meet Australian baseline proficiency. Between 2005 and 2011 digital literacy improved by 4 percentage points (FYA 2015b) (See Figure 2 for all core skill results).

There is a growing body of evidence that shows enterprise education taught in schools has an impact on student outcomes. Much of the evidence comes from Europe and the United

FYA recently released Report Card 2015: How young people are faring in the transition from school to work. This report shows despite staying longer in education, young people are not developing the enterprise skills they need for future work. Over a third are not proficient in science, maths, technology, financial literacy and problem solving (FYA 2015b). In many of these areas Australia is dropping down the international rankings (FYA 2015b). In 2012 PISA (Programme for International Student Assessment) data, showed many Australian students were not proficient in key core skills including:

• Financial literacy: 30% of all and 50% of Indigenous 15 year olds did not meet


Enterprise Skills

Kingdom where enterprise education is more mainstream and has been subject to evaluation and reviews (for example the UK Department for Education review of its Enterprise Education funding initiative in schools (McLarty et al 2010). The existing literature has shown enterprise education:

• Improves enterprise skills (McLarty et al 2000; Ofsted 2011)

• Increases desirability of and aspiration for entrepreneurship as a career (Peterman & Kennedy 2003; Nakkula et al 2004; Lewis 2005; McLarty et al 2010; Steenkamp et

al 2011; FFE-YE 2012; GEM 2013; Young Enterprise 2013)

• Improves school outcomes (McLarty 2010; FFE-YE 2012)

• Provides a greater understanding of their contribution to society (FFE-YE 2012)

• Greater community engagement between schools and their local communities (Pharoah 2013; Young Enterprise 2014)

• Initiative and leadership in other domains such as sports and arts activities (Nakkula et al 2004).

…cognitive and non-cognitive

entrepreneurial skills are developed during

different stages in life, where the skills

learned in one period in life (e.g. at primary school) augment the

benefits of investement in these competencies in subsequent periods

(e.g. at high school or university). Early

investements in skills may thus be partially

effective in the long run (Huber et al 2012, 21).

Figure 2: 2012 PISA data


Enterprise Skills

Social entrepreneurship as a career pathway

Source: Mitchell et al 2008 in Senate Economics References Committee 2011

Enterprise skills equip young people in all types of work in the future, for some it will help them to become entrepreneurs and create their own business. Over the past few decades, some have been using the disciplines of the business world to set up ventures to tackle intractable social problems (FYA 2015c). Some social purpose ventures are for-profit and some are not-for-profit. Social ventures go beyond the traditional business model of contributing to society and the environment through their corporate responsibility programs; they have a purpose of social or environmental change as their core business. All are important not just because of the issues they try to resolve but because collectively they are changing the way business, governments and the community operate.

Figure 3: Types of social enterprises

Social entrepreneurship is growing rapidly in Australia (Addis et al 2013; Productivity Commission 2010). The development of the social entrepreneur market is dependent on the presence of entrepreneurs willing to take risks and demonstrate the potential of social business (FYA 2015d). A report published by FYA, The New Work Order, found the barriers to entrepreneurship are decreasing due to the rise of technology and more efficient regulatory regimes/start procedures (FYA 2015a). Young people globally are becoming more confident about their capacity to create their own jobs (FYA 2015a). However, research has identified that entrepreneurs need support early on in their ventures to overcome five significant challenges:

1. A lack of confidence and fear of failure, which is more common in young entrepreneurs

(Fatoki & Chindoga 2011; Yitshaki et al 2008; Harding & Cowling 2006)

2. An inability to generate finance, especially for young people who have less savings/equity to generate loans (the largest challenge reported) (Hoogendoorn et al 2011; Villeneuve-Smith 2011; Clemensson & Christensen 2010; Yitshaki et al 2008; Fatoki & Chindoga 2011; Schwab Foundation 2009; Fritsch et al 2006)

3. A lack of business skills (Villeneuve-Smith 2011; Fatoki & Chindoga 2011; Hofer & Delaney 2010/11)

4. A lack of human resource mobilisation and people management competencies (Hoogendoorn et al 2011; Schwab Foundation 2009)

5. A lack of networks and engagement with stakeholders, including networks that generate legitimacy and awareness with customers (Fatoki & Chindoga 2011; Hoogendoorn et al 2011; Villeneuve-Smith 2011; Yitshaki et al 2008; Fritsch 2006)

Young people need an immersive learning model that is engaging. A model that develops enterprise skills and builds knowledge with confidence, and a willingness to try new things. It is imperative to Australia’s future. Creating the pipeline of entrepreneurs needed to grow markets, develop social purpose business as a pathway and change the way business, government and communities work. This needs to happen in an environment that is interesting, practical and involves engagement with their peers.

$20 Boss – an enterprise skill building challenge run in schools $20 Boss is a challenge run in school that loans high school students $20 of start-up capital to create their own business. Students undertake short workshops in class to learn finance and business skills, develop a business concept and then have the opportunity to run a business for


Enterprise Skills

a month to create a profit, as well as exploring social purpose through their business. At the end of the month participants pay back the $20 with a $1 legacy donation (to support the sustainability of the initiative) and they have the choice to donate any profit to the school or a charity of their choice, or retain a proportion

for themselves, all the while considering the social impact. Inspired by the Tenner program in the UK, $20 Boss is designed to provide high school students with the opportunity to learn and live the realities of the business world and unleash the potential of the next generation of entrepreneurs.

ALL SAINTS ANGLICAN SCHOOL, QLD Example 2015 Winner – Enterprising School Award, Queensland

Number of students: 49, Year 12 students

Number of enterprises developed: 7 social enterprises

Types of enterprises: Trivia night, a macho nacho Mexican lunch, a car boot sale and a high tea, all enterprises were designed to raise awareness of Opportunity International Australia (OIA).

Total funds raised in 4 weeks: $3,500.00. All profits went to OIA who provides microfinance loans to entrepreneurs in developing countries to start their own small business.

To be involved in 2016 please visit 20boss.fya.org.au and register today!

20boss.fya.org.au


IntroductionWhilst known and practised for decades, a spotlight has been shone on the feedback process by the exhaustive work of John Hattie. More specifically, his meta-analysis of thousands of research papers concluded that quality feedback is unsurprisingly critical to improving learning outcomes. Further, self and peer feedback, if taught well, can be both efficient and ‘value adding’. The information and scaffolds that follow attempt to provide a framework to teach students how to deliver quality feedback, particularly for Economics and Business Studies students.

Quality Feedback is:• Not about the person i.e. is not about self or

peer as a character.

Maximise student performance by teaching students how to deliver quality self and peer feedback

Matthew Bookallil, Knox Grammar School

PEER Feedback Suggestions Teacher Feed-Forward

BLittle evidence of reasons or process (i.e. how). More a broad description. No links made between finance and operations.

Underline BOS word before you start writing. Include cause-effect links. i.e. step by step link between finance and operations (using an example). E.g. As a result of …..

For next time:• Plan your response to

ensure you don’t miss anything.

• Use more relevant business terminology.

• Integrate the source throughout your response. E.g. Miller’s Makeover Pty Ltd will need to consider.

N.B This question becomes more concise as the quality of student feedback increases (may need to be more specific and thorough for some students).

AFirst 3 sentences do not add value. The rest is relevant. You go over the lines. You do not use the source (big mistake).

Do not repeat the question. Get to the point sooner. Plan your response so that you are more concise. Use source in answer.

FThe response reads well and is clear. The 4th and 6th sentences are too long.

Mix shorter sentences (with terminology at the start of the sentence), with longer sentences.

T

Not enough relevant business terms and too much informal language used e.g. “go under” (instead of “bankrupt”).

Used: Efficiency, expenses.

Planning might help (on left). Decrease lard factor by brainstorming relevant terms and ticking them off as you include them in your answer.Should include: Bankrupt, profitability, strategic.

AMostly sound. However, you are not correct when you argue that increased output will reduce expenses.

Quickly read over your response to check whether it makes sense.

• Focused solely on the response (i.e. the written task).

• Specific, useful and accurate (includes comments, not only marks). Examples help.

• Delivering specific suggestions on how to improve the process (i.e. the steps to improve the response).

• Aimed at closing the gap between actual and desired performance (hence, is mainly focused on areas for development).

• Is meaningful to the recipient and acted upon i.e. is put into practise on the next writing task soon after (otherwise becomes ‘dangling data’).

HSC Business Studies feedback example (scaffold provided, not the sample response):How are the key functions of finance and operations interdependent? (source in original question).


Economics & Business Studies

Business Studies Short-Response Feedback Loop (Self-Peer-Teacher)

SELF Feedback Suggestions Teacher Feed - Forward

B

A Use of Source?

F

T Used: Should include:

A

PEER Feedback Suggestions

B

A Use of source?

F

T Used: Should include:

A



BAFTA Short-Response Technique (Qualities desired by HSC Markers):

BOS word (or Non-BOS word): How well has the student responded to the directive term?

Answer the question: Has the student included relevant information (e.g. syllabus concepts and use of source)?

Flow: Is the response easy to read? Do the ideas flow logically from one to the next? Is the response clear?

Terminology: Has the student used relevant business terminology (e.g. syllabus terms)? What is the lard (‘fat’) factor?

Accuracy: Is the answer correct? Is he/she completely off track with the answer? (use specific examples).

Preliminary Economics Feedback Example:Why is consumer sovereignty important to a market economy? (4 marks)

PEER Feedback Suggestions Teacher Feed-Forward

B

You defined consumer sovereignty, but did not link reasons why C.S. is important to a market economy.

Underline BOS word before you start writing. Include reasons for importance to market economy e.g. influence on ‘what is produced’?

For next time:

• Use a blue or black pen.

• Plan your response (left hand side).

• Use conjunctions to show causal links.

• Should you define C.S and/or market economy?

• ATQ at all costs!!A

Clear and accurate response.You do not ATQ (Answer The Question).Too much on C.S theory (with little reference to market economy).‘Vomited’ the definition.

Do not repeat the question. Get to the point sooner.Plan your response so that you respond to the question asked.

H

Frist 3 sentences are irrelevant and do not add value. After that, you define C.S

Start with a brief topic sentence and/or listing of 2 or 3 key reasons.Use firstly, secondly and finally to flag your response (or use numbers)

T&R

Clear and accurate definition/description.

Terminology Used: Consumer sovereignty.

Planning might help (on left or top).

Decrease lard factor by ‘brainstorming’ key reasons and terms and tick them off as you write.

Should include: Key production decisions, price mechanism and/or price signals

Add conjunctions e.g. ‘thereby, consequently, moreover’ to make relationships clearer.



BAHT Short-Response Technique (Qualities desired by HSC Markers):BOS word (or Non-BOS word): How well has the student responded to the directive term?

Answer the question, clearly and logically: Has the student included relevant information within the lines provided? Does the response read well? Is it logical?

Hammer down the answer: Has the student got straight to the point? Has he/she flagged? (answer at the front, underlined). Has he/she hidden the answer? What is the lard factor? (remove unnecessary words).

Terminology and relationships: Has the student used relevant economic terminology and concepts? Has he/she used causal links?

ConclusionExperience and research has shown me that students can deliver outstanding feedback, at times better than that provided by teachers! Importantly, this may mean that you have 20 ‘markers’ invested in the learning process, rather than 1 exhausted teacher. Yet this process can take time. Students who ‘internalise the demands’ of the task will assist both the feedback giver and receiver in the long-run (let alone the teacher!). Moreover, students enjoy the process and improve their knowledge, understanding and writing. This formative process invariably leads to deeper understanding and improved academic outcomes.


Knox Grammar School Year 9 Commerce

Assessment Task 3 Due Date Weighting

Personal Finance & Investing Term 3, Week 9 (Thursday) 20%

Submission Instructions

You will write an in-class extended response during your timetabled Commerce lesson on:

• Thursday, 10 September 2015 Period 4: 9COM11 (Cowell), 9COM12 (Waterhouse), 9COM13 (Tyler), 9COM14 (Gliddon)

• Thursday, 10 September 2015

• Period 6: 9COM21 (Walker), 9COM22 (Tyler), 9COM23 (Gliddon)

Unforeseen illness or misadventure on the day – the student must complete the illness/misadventure application for extension on the first day back at school. He must sit for the task on his return to school and he will be informed of the result of his application when it has been processed.

Known absence prior to the due date – the student must apply for determination/extension, as soon as possible before the original due date of the task. If it has been granted, the task can be submitted on the new due date without penalty.

Please consult the Knox Grammar School Year 9 Assessment Policy Document 2015 for further information.

Outcomes Assessed

5.1

5.4

5.5

5.6

5.7

5.8

5.9

applies consumer, financial, business, legal and employment concepts and terminology in a variety of contexts

analyses key factors affecting commercial and legal decisions

evaluates options for solving commercial and legal problems and issues

monitors and modifies the implementation of plans designed to solve commercial and legal problems and issues

researches and assesses commercial and legal information using a variety of sources

explains commercial and legal information using a variety of forms

works independently and collaboratively to meet individual and collective goals within specified timelines

Commerce Assessment Task – Personal Finance Topic and Investing Topic

Commerce Department, Knox Grammar School


Commerce Assessment Task

Task Rubric

Students will be assessed on their ability to:

• Demonstrate knowledge and understanding of course concepts relevant to the question.

• Clearly and accurately write a sustained, logical and cohesive response in the form of an extended response.

• Demonstrate sophisticated use of appropriate commercial and financial terminology & concepts.

• Provide reasons in favour of three (3) investment options.

• Provide an inquiry into the risk and return associated with three (3) investment options, including a risk and return diagram

Context

This assessment task takes place in Core Topic 1.2: Personal Finance and Option Topic 1: Investing. The assessment builds on students’ skills in researching, working independently and communicating information through the use of an in-class extended response. This assessment task is marked out of 20 and is weighted 20% of students’ final grade.

Important Notes

The In-class business report will be written closed book, i.e. you cannot bring in or refer to any notes or materials when writing your report.

Task

You are a financial and investment consultant and have been approached by three people to develop an investment plan for them. Each person has recorded a brief video to assist you in your planning. These videos will be shown to you in class. You will need to conduct research on the THREE scenarios shown (listed below) in preparation to write an investment plan in class. Your response will be in the format of an extended response, addressing the following questions:

• Recommend THREE (3) investment options available for this scenario that will assist your client in achieving their financial goals. For example, income protection insurance, term deposit, shares, managed funds, property, superannuation, life insurance, debentures.

• Examine the risk and return associated with these THREE (3) investment options (include a risk and return diagram to plot the risk and return applicable with the selected options).

You must prepare an investment plan for all three scenarios. On the day of the assessment task, ONE scenario from the list below will be selected at random.

Scenario 1: Young professional woman living a high-income lifestyleScenario 2: Married couple in their early 30s with a baby

Scenario 3: Elderly man in his mid-50s planning for retirement

Your extended response should follow the scaffold below. You will not receive this scaffold on the day of the task.



Extended Response Scaffold

Introduction• Answer the questions (Recommend and Examine)• Outline what will be explored in your response• Identify the investment options that will be explored

Body

Use the TEEL method to write your paragraphs:

TOPIC – Topic sentenceEXPAND – Supporting sentences; explore your topic sentence in depthEXAMPLE – incorporate your research to support what you are saying

LINK – link the content back to what the question is asking

Conclusion• No new material• A short paragraph summing up your response

BOS Directive Terms

Recommend: provide reasons in favourExamine: inquire into

In order to undertake the task, you need to:

• Revise the BOS Directive Terms.

• Revise the terminology and content learned through class and homework tasks on ‘Personal Finance’ and ‘Investing’.

• Undertake research for investment options suitable for each scenario.

• Write an extended response for each scenario.

• Practice writing your responses under timed exam conditions.


Marking Guidelines

• Clearly and accurately presents a sustained, logical and cohesive response in the form of an extended response.

• Sustained and sophisticated use of appropriate commercial and financial terminology & concepts.

• Provides extensive reasons in favour of three (3) investment options.

• Provides an extensive inquiry into the risk and return associated with three (3) investment options, including a risk and return diagram.

17 – 20

• Presents a logical and cohesive response in form of an extended response.

• Sustained use of appropriate commercial and financial terminology & concepts.

• Provides detailed reasons in favour of three (3) investment options.

• Provides a detailed inquiry into the risk and return associated with three (3) investment options, including a risk and return diagram.

13 – 16

• Presents a mostly coherent response in the form of an extended response.

• Satisfactory use of relevant commercial and financial terminology.

• Provides satisfactory reasons in favour of three (3) investment options.

• Provides a satisfactory inquiry into the risk and return associated with three (3) investment options.

9 – 12

• Presents a response with basic structure.

• May use some relevant commercial or financial terminology.

• Provides limited reasons in favour/provides characteristics and features of investment options.

• Provides a limited inquiry into the risk and return for the recommended investment options.

5 – 8

• Uses basic terminology and structure.

• Sketches in general terms one or more investment option.

• Basic inquiry into the risk and return for one or more investment option.

1 – 4



Notes on Scenario 1

Young professional woman living a high-income lifestyle

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Notes on Scenario 2

Married couple in their early 30s with a baby

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Notes on Scenario 3

Elderly man in his mid-50s planning for retirement

______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________



The Board of Studies, Teaching and Educational Standards NSW “ 2015 Guide to the HSC for Media” (available on the BOSTES NSW website) revealed the following total numbers with regards to the 2015 HSC:

How many students studied HSC Economics, HSC Business Studies and HSC Legal Studies in 2015?

Joe Alvaro, Marist College North Shore

Male Female Total

Total Candidature* 37594 38867 76461

Higher School Certificate 33021 34994 68015

* The total candidature refers to the number of students who completed one or more Higher School Certificate courses. Candidates awarded the HSC have completed all of the requirements for the Higher School Certificate. Candidates may have completed courses over a number of years before achieving the award of Higher School Certificate.

Other general facts for 2015 included:

• HSC Music, Dance and Drama practical exams were scheduled for August and September.

• 51 HSC oral language exams were scheduled from 30 July to 5 September.

• 118 HSC written exams totalling around 300 hours were scheduled for 12 October to 4 November.

• More than 300 students sat for their HSC exams at Australian schools overseas.

• 85 exam committees and 300 committee members were involved in developing the written exams.

• Each exam was reviewed at least six times before more than 700,000 exam papers were printed.

• More than 5500 markers marked the HSC exams from 10 marking centres and homes across NSW.

• Around 45% of HSC markers marked online with 64 courses (an increase of 13%) fully or partially marked online.

With regards to HSC Busines Studies, HSC

HSC marking in the pig pavillion of the Sydney Showgrounds, Homebush, 2011. Picture: Craig Greenhill. Image Source: http://www.heraldsun.com.au/news/breaking-news/hsc-markers-kept-like-pigs-in-a-pen/story-e6frf7jx-1226196296164

http://www.heraldsun.com.au/news/breaking-news/hsc-markers-kept-like-pigs-in-a-pen/story


Legal Studies and HSC Economics we see that enrolments increased for HSC Business Studies and HSC Legal Studies but continued to decrease for HSC Economics.

HSC Business Studies was the fourth most popular subject in NSW in 2015 with 16 905 (males = 53% and females = 47%) students, after English, Mathematics and Biology, an increase from 16 287 students in 2014. It is pleasing to see a high number of students leaving school having developed knowledge, understanding, skills and values related to the business world which will enable students to participate effectively in the dynamic business environment as entrepreneurs, employers, employees, consumers and investors.

HSC Legal Studies was the tenth most popular subject in NSW in 2015 with 10 504 students (males = 40% and females = 60%), an increase from 10 322 students in 2014.

HSC Economics had 5160 (males = 65% and females = 35%) students enrolled in 2015, a decrease from 5213 students in 2014.

While there is no major difference between the number of males and females studying HSC Business Studies, HSC Legal Studies is more

HSC students

popular with female students and Economics is more popular with male students.

The number of students studying HSC Economics continues to be concerning and EBE NSW would like to see more students learning the important subject matter in the Economics syllabus. 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 “Resources”, then “Presentations and other items”). 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 – Journal of the Economics and Business Educators NSW” (Issue 2, 2012) which is available in the members section of the EBE NSW website.

How can we increase the number of students studying Economics, in particular female students? Please email EBE NSW ([email protected]) if you have any ideas.

Needing practice HSC examination papers for your students? • Economics • Business Studies • Legal Studies

Give your students that extra examination practice! Our examinations are written by EBE NSW directors.

Order form available at – www.ebe.nsw.edu.au



http://www.ebe.nsw.edu.au


Report on EBE NSW Field Trip for Teachers CHOICE Lab and Testing Facility Guided Tour – 23 September 2015

Christopher Sassine, Northern Beaches Christian School

The ever growing interest in consumer rights and advocacy aided by popular TV programs such as The Checkout and Gruen makes Australia’s leading consumer advocacy group Choice a prime case study and academic excursion for students studying Business Studies and Commerce.

During the 2015 Term 3 school holidays on 23 September 2015 a group of NSW teachers (including myself) completed an Economics and Business Educators NSW professional development course (“Field Trip to CHOICE Lab and Testing Facility“) which consisted of a visit to the Choice testing facility in Marrickville, NSW (57 Carrington Road Marrickville NSW). Director of Commercial and Finance, George Perry, provided a brief history of the company including its basic business model. This was followed by a tour of the testing labs by Mr John Ashes, the Facilities Manager, which included the asking of many questions.

Choice as a case study is relevant to the Operations and Marketing topics within the Business Studies syllabus and in providing a real world context to supplement the Consumer Choice and Running a Business topics within the Commerce curriculum.

Choice is primarily a publishing house that releases content to attract readership. Its business model is funded primarily by its paid subscribers to their printed magazine and online content. Choice does not accept any advertising, free product samples or

government funding, which is critical in maintaining their brand reputation as an independent reviewer. They have diversified their expert reviews beyond whitegoods, and now release two additional magazines Choice Computer Magazine and Choice Health Reader and also provide services such as Choice Help, assisting members with their consumer rights to refunds, replacements, and Choice Shopper, finding and negotiating the best prices for purchases by members.

Its operations facility is surprisingly small, involving only 12 full time product testers who test over 2600 items per year. The operations facility tests that products meet set safety standards as regulated by government and that product claims are also substantiated. Beyond the legalities of testing, Choice bases its tests on consumer behaviour, therefore they test products under everyday conditions to ensure the reviews are relevant to how consumers use products.

Choice also plays a strong role in consumer advocacy. They were integral in the drafting of the Trade Practices Act, Australia’s first national consumer protection law; and almost 40 years later they were campaigning for the introduction of the Australian Consumer Law, which guarantees the consumer rights we all enjoy today.

Choice are able to conduct group tours throughout its labs and offer a presentation on its business model.


President's Report to the 2015 Economics and Business Educators NSW Annual General Meeting

(7 December 2015)It is my pleasure to present the Economics and Business Educators NSW (EBE NSW) President’s Report for 2015. Since the last EBE Annual General Meeting (AGM) on 1 December 2014, it has been a productive and exciting year for EBE NSW as we have sought to serve our members and their students and support them in the classroom as they have taught the Board of Studies, Teaching and Educational Standards NSW (BOSTES NSW) Economics, Business Studies, Legal Studies and Commerce courses, providing them with high quality educational services.

EBE NSW began implementing its Strategic Plan ( 2015 – 2017) in 2015 ( at the end of this report is a copy of the strategic plan). The strategic plan is built around three strategic pillars:1. Professional growth2. Networking3. Advocacy

We have made some good progress in relation to the goals in the strategic plan as will be seen in this report.

Educational change continues to provide us with both opportunities and challenges, including reduced funding for government curriculum authorities which has resulted in a reduction of support services from these authorities for teachers of Economics, Business Studies, Commerce and Legal Studies, continuing developments with regards to the Australian Professional Teaching Standards and continued implementation of the NSW Government’s Great Teaching, Inspired Learning Blueprint for Action policy. EBE NSW continues to play an important role in helping its members manage this change.

EBE NSW membership numbers continue to be strong and we are experiencing a growth in members as shown in the table below – “EBE NSW Membership Figures 2012 – 2015”. Our members are made up of teachers in both government and non – government schools in NSW, Australian international schools overseas, student teachers and members in the “business/corporate” category. An organization like Economics and Business Educators NSW is a community of support for all educators involved in the courses it represents, especially for educators in isolated areas. Our total membership stands at 436 as at 22 October 2015 (this figure includes individual memberships, school/library memberships and business/corporate memberships). While our membership figures remain healthy overall, there is potential to increase these numbers and engage those teachers in schools who are not members. In addition, our student teacher members could be increased. I envisage more teachers will apply to be members of EBE NSW in the future as they are seek ways to address the Australian Professional Standards for Teachers.


EBE NSW Membership Figures 2012 – 2015

2015(as at 22

October 2015)

2014 2013 2012

436 402 369 349

I wish to thank our members for their support of the association and participation in our activities this year. In all our activities our top priority is meeting and exceeding the expectations of our members.

EBE NSW would be unable to achieve its vision and goals without the knowledge, skills and time of the educators who are members of the EBE NSW Board of Directors. Twelve educators made up the Board of Directors during the last year:• Mr Joe Alvaro• Mr Andrew Athavle• Mr Matthew Bookallil• Ms Joean Borg• Ms Cheryl Brennan• Ms Kate Dally • Ms Bronwyn Hession • Ms Kate Keeley• Ms Anna Tsoutsa• Mr Nicholas Ward• Dr Sarah Wright

We had a diverse Board this year with educators from government, Catholic, Christian and independent schools, as well as the Board of Studies, Teaching and Educational Standards NSW (BOSTES NSW) and universities. EBE NSW Vice-President, Cheryl Brennan and myself sit on the Professional Teachers’ Council NSW (the coordination and consultancy body for professional teacher associations in NSW) Board of Directors. 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. Guest speakers at our meetings this year included

Mr Darren Taylor, Inspector HSIE, Curriculum and Assessment Standards from BOSTES NSW and Ms Jennifer Curtis, HSIE Advisor 7–12 – Learning and Leadership – Secondary Education from the NSW Department of Education. We are grateful to Club Burwood RSL for allowing us to use their meeting rooms for our Board meetings at no cost.

I would like to thank all the Board members for all their work and willingness to give to and share with the teaching profession and assist teachers to improve student learning outcomes. 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 NSW 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. Thank you to Cheryl Brennan and Kate Dally and as Vice – Presidents and Bronwyn Hession who performed the roles of both Treasurer and Company Secretary.

The strength and sustainability of the teaching profession is directly related to the quality of our teachers. This is why designing and conducting professional development courses is our core activity. EBE NSW continues to provide members with access to effective, syllabus friendly, classroom focused and cost friendly professional development courses to assist teachers in providing meaningful and engaging learning experiences in the classroom. We are especially committed to supporting beginning teachers as they face the challenging and demanding early years of teaching. It has been a year of strong member involvement with regards to our professional development courses. We have implemented a busy professional development program this year carefully prepared to meet the professional learning needs of teachers:1. “Teaching the Preliminary Course ( Year 11) in

Business Studies for the first time?” – 27 February 2015

2. “Teaching the Preliminary Course ( Year 11) in Economics and Legal Studies for the First Time?” – 11 March 2015

President’s AGM report



3. “Revamping and Resourcing Commerce” – 1 April 2015

4. “2015 EBE NSW Annual Conference” – 15 May 2015 (Two EBE NSW professional development travel grants for members from a remote area of NSW were provided for this conference)

5. “Simulation as a Teaching Method in Business Studies” – 6 August 2015 (conducted in association with SP Jain School of Global Management)

6. “Teaching the HSC Course (Year 12) in Business Studies, Economics or Legal Studies for the first time?” – 17 August 2015

7. “Current Economic Events and Monetary Policy” – 1 September 2015 (conducted in association with the Reserve Bank of Australia)

8. “CHOICE Lab and Testing Facility Guided Tour” – 23 September 2015

9. “Legal Update Conference” – 9 October 2015

10. “EBE NSW Rural Professional Development Course: Teaching the HSC Course (Year 12) in Business Studies or Legal Studies for the first time? – 24 October 2015 (held in Wagga Wagga, in association with the Riverina Social Science Teachers Association)

We are developing a connection with SP Jain School of Global Management, an Australian business school with campuses in Sydney, Mumbai, Singapore and Dubai, which has a focus on global intelligence. With the help of a bursary provided by SP Jain School of Global Management, I travelled to Singapore in February 2015, together with two other EBE NSW members, to represent schools in Sydney at the 2015 SP Jain School of Global Management Counsellors and Educators Conference at the Singapore campus. EBE NSW is looking forward to developing further connections with SP Jain School of Global Management in the future.

Thank you to all the EBE NSW Board members who designed and conducted presentations at various professional development courses

throughout the year, enabling members to benefit directly from the expertise of EBE NSW Board members and teachers in the classroom during these courses. I also thank all our other presenters this year. All our courses are evaluated by attendees and we use this information to learn about what is working well and what needs improving. Overall evaluations this year indicated that the content of our professional development courses are meeting the professional learning needs of teachers and student teachers attending.

EBE NSW (through the Professional Teachers’ Council NSW) is a BOSTES NSW endorsed provider of professional development for the maintenance of accreditation at Proficient, Highly Accomplished and Lead levels, and a number of our members use professional development hours from our courses to meet their accreditation requirements with BOSTES NSW . Courses that are endorsed are advertised on the BOSTES NSW website which enables us to benefit from this additional method of promotion. A number of our courses this year were BOSTES NSW endorsed, thanks to the work of EBE NSW Director Bronwyn Hession and I thank her for her expertise in this area.

Further professional development was available to members through the EBE NSW Helpdesk ([email protected]) enabling them to access Board members for advice and assistance in relation to the teaching and learning of Economics, Business Studies, Legal Studies and Commerce 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 EBE Board members another opportunity to share their expertise and experience with members.




The examinations are a major annual publication project. I thank my fellow EBE NSW Board members for their commitment to this work and enabling teachers to access high quality assessment material.

“The EBE Journal – Journal of the Economics and Business Educators NSW” 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 enables members to access professional reading and resources which are available in the journals. I would like to thank our Journal Editor Matthew Bookallil for all his work on “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 NSW membership benefit into the future. The journal is especially important for our members in remote areas.

We continued to run the CPA Australia Plan Your Own Enterprise Competition in NSW 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, Nicholas Ward, for all his work in coordinating the competition in NSW this year, including the coordinaton of the NSW shortlisting process. Thank you to the EBE NSW Board members and teachers who were on the shortlisting panel this year.

We were able to recognize the PYOE NSW winners at our annual NSW awards ceremony on 7 October 2015 at the Sydney office of CPA Australia. At the ceremony prizes and certificates were awarded to the NSW student winners and their teachers. I congratulate the following winners and their teachers from NSW:• -Division 1 (Individual entry) – Joshua Spicer,

Rose Bay Secondary College for his business plan, “Intergenerational Solutions” ( Teacher: Mr Philip Horrell).

• Division 2 (Group entry) – Vanshika Virmani & Jennifer Xu, Hornsby Girls High School for

their business plan “Lemon Myrtle” (Teacher: Ms Stephanie Boden).

Although our NSW winners were not successful at this year’s Australasian judging and awards ceremony, they are to be commended on their excellent business plans. The individual category at the national level was won by Jonathan Nagappa of Christ Church Grammar School in Western Australia. His business idea was SurfScout, a remote controlled drone service to spot sharks and keep Australia’s swimmers safe. The group category at the national level was won by Harrison Wallace, Peter Mercado and Robert Jiang from The Hutchins School in Tasmania. Their business, The Tapas Truck, provides affordable Spanish food to Hobart residents. I congratulate the 2016 PYOE national winners.

CPA Australia sponsors the PYOE Competition and I acknowledge its support of students and teachers through this competition. This competition is an excellent way for EBE to interact directly with students of the courses we represent and their parents.

Another way we interacted directly with students this year was through our HSC student seminars at the 2015 HSC and Careers Expo at Royal Hall of Industries, Moore Park and at the Western Sydney Careers Expo at Sydney Olympic Park. I presented seminars for both Business Studies and Legal Studies students at these events, focusing on examination preparation strategies. EBE NSW provided these seminars free of charge.

The EBE NSW 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.

As can be seen in the following graphs the EBE website attracts many visitors.


EBE Website Statistics as at 25 November 2015


EBE NSW website statistics as at 25/11/2015

Most commonly visited pages 1 Home page 2 News 3 Resources 4 Professional development 5 Publications



EBE NSW Website – Most commonly visited pages as at 25 November 20151. Home page2. News3. Resources4. Professional development5. Publications

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

Improving the quality of the courses we represent and responding to curriculum change remains an ongoing feature of our work. EBE NSW is well placed to improve the quality of our courses and 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.

I represented EBE NSW at the 15th Annual Meeting of Human Society and its Environment (HSIE) Professional Teachers’ Associations, Tertiary Educators and HSIE Advisors from NSW Department of Education on 30 November 2015. 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 our professional development courses.

I wish to thank our three office staff members, Annette Davies, Sue Gilbertson and Alan Hearle, for their knowledge, skills and support this year. They have shared the vision of EBE NSW and have made significant contributions to all our projects. We are grateful to the NSW Department of Education for providing us with cost friendly office space at their Ryde premises.

I acknowledge the continued support provided to EBE NSW by Business Educators Australasia, as our umbrella national subject association and in particular thank the Immediate Past President of BEA, Bronwyn Hession, for her leadership of the organization until the BEA AGM in June, 2015 which saw Bronwyn retire as BEA President and BEA Councillor for EBE NSW. Bronwyn served as President of BEA for three years and led the organisation during a period which saw significant developments with regards to the ACARA Australian Curriculum: Economics and Business and ACARA Australian Curriculum: Civics and Citizenship. Her knowledge, skills and experience were invaluable during these curriculum developments. Before her term as President, Bronwyn served on the BEA Board as BEA Councillor for EBE NSW. I thank Bronwyn for all her effort and time, representing NSW Economics, Business Studies, Legal Studies and Commerce teachers at the national level. I congratulate Mr Tony Kuc who is the new BEA President. I am now the BEA Councillor for NSW and I look forward to representing EBE members in this role. 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.

EBE NSW is in a healthy financial position and acknowledges the ongoing support of CPA Australia. We are also grateful to our office staff for their careful attention to the financial matters of the organization. This healthy financial position will allow EBE NSW to look at new ways to return more value to members. More information about the financial position of the association can be found in the “EBE NSW Financial Statements For The Year Ended 2015.”



EBE NSW is highly respected and recognised. Despite this and our many achievements we cannot afford to be complacent as we look to the future. Funding by the government for many significant projects in the area of education continues to decrease, educational change continues to increase and teacher associations like EBE NSW are being called upon to do more and more with limited resources. Many challenges and opportunities await us in the future:

• We need to continue 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.

• We need to continue to monitor the development of the Australian Curriculum: Economics and Business and Australian Curriculum: Civics and Citizenship as BOSTES NSW considers its response to these curriculum developments.

• We need to ensure that our professional development courses are responsive to emerging teaching and learning strategies and technologies.

• Exciting opportunities await us as the NSW Government “Great Teaching, Inspired Learning – A Blueprint for Action” policy continues to be implemented, including 16.4 ( “the profession will be supported to inform and provide registered teacher professional learning”) and as all teachers begin to move to the Australian Professional Standards for Teachers making accreditation integral to teachers’ progression and remuneration. This all has potential to build our capacity to provide professional learning opportunities to a wider audience.

• We need to continue to maintain the financial stability of our association and 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 need to continue to pay attention to governance issues and update our constitution.

• We must ensure the EBE NSW office operates effectively and efficiently based on the values in the EBE NSW Strategic Plan (2015–2017) – “excellence”, “integrity” and “members first”, as it supports the Board members as they carry out their work.

• 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 Economics, Business Studies, Legal Studies and Commerce, which we know contain critical and powerful knowledge and skills that we want young people to leave school with and build on throughout their lives.

EBE NSW has been an active association over the past year, representing and supporting teachers and students of the BOSTES NSW Economics, Business Studies, Legal Studies and Commerce courses. The teaching and learning of these courses would continue without EBE NSW but I would argue the quality of the lessons in classrooms and teacher capacity and confidence with regards to these courses would suffer if EBE NSW did not exist. Our association has made a very significant contribution to education this year and has played a significant part in furthering the teaching profession and assisting teachers to improve student learning outcomes.

I again thank all the EBE NSW Board members and the EBE NSW office staff for their efforts this year and for assisting me in my role as President. I also thank all the EBE NSW members for their support of EBE NSW. I look forward to working together again as we begin a new year.

Joe Alvaro Economics and Business Educators NSW President7 December 2015



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

[email protected]

www.ebe.nsw.edu.au

Journal of the Economics and Business Educators New South ... · by Joe Alvaro, Marist College...

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Transcript of Journal of the Economics and Business Educators New South ... · by Joe Alvaro, Marist College...