Dear EBE NSW Members,
Welcome to the March, 2015 edition of the EBE NSW e-newsletter.
EBE NSW members attend the 2015 SP Jain School of Global Management Counsellors and Educators Conference in Singapore
Sydney representatives in Singapore at the 2015 SP Jain School of Global Management Counsellors and Educators Conference. From left to right: June Peake (Kambala), Trent Pohlmann (Head SP Jain School of Global Management – Sydney Campus), Joe Alvaro (Marist College North Shore), Monique van Bentum (Arthur Philip High School) and Glenn Walker (Knox Grammar School).
I travelled to Singapore in February, 2015, together with two other EBE NSW members (June Peake and Glenn Walker) and Careers Advisor Monique van Bentum to represent schools in Sydney at the 2015 SP Jain School of Global Management Counsellors and Educators Conference at the Singapore campus. SP Jain School of Global Management is the world’s first tri-city educational institution with an emphasis on global intelligence. Students spend time studying for their degree at the school’s three campuses in Singapore, Dubai and Sydney. On the 12 February 2015 the Sydney representatives met with Mr Trent Pohlmann (Head of Campus, Sydney) to find out more about the school and the opportunities available to students in schools in Sydney. During the following two days (13 February 2015 and 14 February 2015) we participated in the conference, learning more about the school and networking with educators from different countries. The school is certainly an option to keep in mind when we are speaking with our students about tertiary study in the field of Business Studies after school. Thank you to SP Jain School of Global Management for hosting the Sydney group of teachers. EBE NSW looks forward to working with SP Jain in the future.
>> To view the campuses, log on to www.spjain.org/campuses-sydney.aspx
Group photo – Conference delegates - 2015 SP Jain School of Global Management Counsellors and Educators Conference in Singapore
EBE NSW Professional Development Event – “Revamping and Resourcing Commerce”
Date: Wednesday 1 April 2015
Venue: Department of Education and Communities NSW Building, 3B Smalls Road, Ryde
BOSTES NSW endorsed: Yes
Does your Commerce program need revamping in order to engage more of your students in the 21st century classroom? Do you need activity based resources which will save you time and inspire your students? Then come along to “Revamping and Resourcing Commerce”.
Participants will gain fresh insights into the Commerce syllabus and will be able to reflect on and improve their Commerce teaching strategies. Presenters will focus on authentic, innovative programming and assessment. The course will provide participants with opportunities for collegial discussions and the sharing of ideas and resources.
Hurry – registrations closing soon.
>> Further details and registration form
Economics and Business Educators NSW 2015 Annual Conference
The 2015 EBE NSW Annual Conference will be held on Friday 15 May 2015 from 8.45am – 4.00pm at Club Burwood RSL (96 Shaftesbury Road Burwood). This is the highlight event in NSW for teachers of Economics, Business Studies, Legal Studies and Commerce. Register now and take advantage of the early bird rates.
>> Full conference program and registration form
EBE NSW 2015 Annual Conference Professional Development Travel Grants
Are you a teacher from a rural area of NSW and a financial member of EBE NSW? EBE NSW is funding the full conference registration fee and a contribution to travel expenses (up to $500) for two teachers from a remote area of NSW. Teachers who wish to apply are asked to email EBE NSW a statement of 500 words or less outlining the expected benefits and learnings to be gained by attending the conference and networking with other teachers, and how those learnings would be shared with teachers from your school/region. Applications should be emailed to email@example.com no later than 4 May 2015. Applicants should include their name, school, address, email address, BOSTES number (if applicable) and EBE membership number. All applicants should ensure that they have their principal's permission to attend the conference.
Unique scholarship opportunity for teachers of Commerce, Economics or Business Studies
As a result of the generous support of First State Super, applications are invited for the NSW Premier's First State Super Financial Literacy Scholarship. This $15,000 scholarship involves organisation of a study tour either within Australia or overseas, to investigate and report on effective teaching strategies for financial literacy. Research is to be completed by June 2016.
Applications close Friday 1 May 2015
See the awards website for further information (select Premier's Teacher Scholarships from left-hand menu) and/or contact the Premier’s Scholarships Secretariat on (02) 9836 9032 or (02) 9836 9169 for further information. This is a fabulous opportunity. EBE Director Cheryl Brennan is a past scholarship recipient. EBE NSW is happy to provide further advice to teacher members who are interested in applying. Also see the article “Premier’s First State Super Financial Literacy Scholarship 2013 - Elena Gray, St Patrick’s Marist College, Dundas” in the latest issue of “The EBE Journal”. Email us at firstname.lastname@example.org should you require assistance.
2015 EBE NSW Trial HSC Examinations order form available
The order form for the 2015 EBE NSW Trial HSC Business Studies, Economics and Legal Studies examination papers is now available. Relevant past papers are also available for purchase. The examination papers have been designed by EBE Directors and include suggested answers and marking guidelines. Special discount prices apply to members of EBE NSW.
>> Order form for 2015 Trial HSC papers
Academic Attainment Economics HSC Student Lectures
Academic Attainment is holding the following Economics HSC student lectures:
1. The Global Economy and Australia’s Place in the Global Economy – 5 July 2015
2. Economic Issues, Policies and Management – 7 July 2015
>> Email email@example.com for more details.
The Wealth Academy
The Wealth Academy is a member of ASIC's Consumer and financial literacy experts panel. It is an education company owned by a previous school principal and curriculum developer. The Wealth Academy's other supporters include:
- Australia and New Zealand Institute of Insurance and Finance (ANZIIF)
- Financial Services Council (FSC)
- Financial Planning Association of Australia (FPA)
- Financial Services Institute of Australasia (FINSIA)
- Financial Services Accountants Association (FSAA)
- Taxpayers Australia, Superannuation Australia
- Customer-Owned Banking Association (COBA)
Such comprehensive support will mean The Wealth Academy will be able to produce resources in the near future that are aligned to the most current practice in financial services. The Wealth Academy has committed to being an advocate for business education through these financial service associations and will create resources needed by business educators with the support of these associations.
Members of EBE NSW are encouraged to review the resources, philosophy and content of the School-Community Financial Life Skills Program available on its website www.thewealthacademy.com.au
The online program is delivered to the school through a local community business sponsorship model. Your school P&C, parents of students who are accountants, advisers, brokers, solicitors; local business people etc may also like to be the school sponsor. Further information about this program can be obtained from the website. A podcast for teachers is included on the website homepage. This program aligns with the community engagement policies of the Board of Studies, Teaching and Educational Standards NSW and the expectations of leaders as described in the Australian Professional Standard for Teachers (and Principals).
>> For further information contact Ken Swan at The Wealth Academy (Email: firstname.lastname@example.org)
Asia Education Foundation Study Programmes to Asia
Dates: 27 September to 3 October 2015
>> More information at: www.asiaeducation.edu.au. Go to “Programmes", then "Study Programmes to Asia"
Latest issue of “The EBE Journal - Journal of the Economics and Business Educators NSW” now available
The latest issue of "The EBE Journal" (Issue 2 - 2014) is now available in the members section of the website. Articles include:
- President’s Report – Joe Alvaro
- EBE NSW News
- Economics and Business News Bites - Compiled by Joe Alvaro, Marist College North Shore
- Legal News Bites - Compiled by Joe Alvaro, Marist College North Shore
- Educating the Final Filter Lessons from Centro regarding Financial Literacy for Company Directors - Philip Ross – Associate Professor, School of Business, University of Western Sydney
- Implications of the Global Financial Crisis - Dr Wilson Sy
- The Problem with a Living Wage - James Morley, Professor of Economics and Associate Dean (Research) at UNSW Australia Business School
- The effect of globalisation on secondary and tertiary business education - Trent Pohlmann BSc (Hons) MBA, Head of the S P Jain School of Global Management’s Sydney Campus
- Economists’ Statement on Commonwealth Budgetary and Economic Priorities September 2014
- Explaining the business world in HSC extended responses - Trish Weekes, Senior Lecturer in Literacy Education Australian Catholic University
- Year 9 Commerce Travel Task – You be the travel agent - Kate Dally, Birrong Girls High School
- Using Oral Presentations as an Assessment Technique with a Sample Assessment Task for the Commerce Topic – Employment Issues - Joe Alvaro, Marist College North Shore
- How many students studied HSC Economics, HSC Business Studies and HSC Legal Studies in 2014? - Joe Alvaro, Marist College North Shore
- ASX Schools Sharemarket Game 2, 2014 - Amanda Mior, Sharemarket Game Coordinator
- 2014 Commonwealth Bank Foundation Teaching Award Winners
- Premier’s First State Super Financial Literacy Scholarship 2013 - Elena Gray, St Patrick’s Marist College, Dundas
- Australian International School Teacher Profile - Don Sommerville, Australian International School, Hong Kong
- President’s Report to the 2014 Economics and Business Educators NSW Annual General Meeting (1 December 2014)
- Economics and Business Educators NSW Fi
Past issues of "The EBE Journal" are also in the members section and contain useful teaching and learning resources.
A call for articles for “The EBE Journal”
Would you like your article published in “The EBE Journal”?
Articles written by teachers are of great value because teachers have the subject knowledge and skills in their area of expertise. Contributing to the journal is one way to demonstrate the national 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 enquires should be directed to:
Economics and Business Educators NSW
3B Smalls Road Ryde NSW 2112
Phone: (02) 9886 7786
Fax: (02) 9886 7673
>> Please ensure that all tables, diagrams and figures included with your paper are of a suitable quality for reproduction.
Economics and Business News Bites
1. Westpac Economic Update: 20 March 2015
Westpac Senior Economist Elliot Clarke comments on this week's market events with a focus on the RBA minutes and the ACCI Westpac Survey of Industrial Trends. Plus, looking ahead at next week's US data release on existing and new home sales, the February CPI data, and the financial stability review from the RBA.
>> Click here to access the update on video (accessed on 24/3/2015).
The world changes every day. The markets are even faster. It's hard to stay ahead of the markets, which is why Westpac Chief Economist Bill Evans and his team produce this bite-sized roundup of the week's economic news and events, with clear analysis and insight plus the outlook for the week ahead. No topic is too tricky or hard to follow - in this weekly broadcast the team talk about events that will make a difference to your bottom line, the economy and the nation.
About Bill Evans
William (Bill) Evans is a graduate of the University of Sydney and the London School of Economics. He has worked as a Research Manager for the Reserve Bank of Australia, Treasurer at the Commonwealth Bank of Australia, and prior to joining Westpac in 1991, was Director and Head of Financial Markets at Schroders Australia Limited for 8 years. At Westpac he is Managing Director & Global Head of Economics & Research.
2. Money facilitates life
Personal finance editor, Kate Hughes, writes “that money, our access to and use of it, is not some self-indulgent sideshow – it is what makes our lives. Money is related to the choices we make every day. Want to breathe fresh air? You need the financial freedom to choose where you live.
Want to help your children learn to read? You may need to choose whether you can afford to be with them as much as possible or whether you have to be out doing that second or third job. Want to experience the astonishing, life-affirming things that this planet and the people on it have to show you? That will take money … and time, which you have to be able to afford. Even our genetic drive to procreate regularly involves a financially based decision or 12. Money isn’t life – of course it isn’t. But money facilitates life. Money and information about how best to use it offer us a critical platform from which to pursue the life we wish to lead”.
* Reference: “It’s only cash, but what a difference it can make for us” by Kate Hughes in The Independent on Sunday, 11 January 2015
* Syllabus link: BOSTES NSW Commerce Syllabus (2003) – Core Part 1.2 – Personal Finance
3. Theatre productions struggle to make a profit
“Dirty Rotten Scoundrels” ran for eight weeks in 2013 at the Theatre Royal in Sydney but failed to make money. In late January the show’s producer, George Youakim, sent a letter to contractors who were owed money, saying the company could not meet its debts and it would be handed to a liquidator. Mr Youakim said that all wages had been paid to the actors and crew, but that some contractors and suppliers were owed money. “An Officer and a Gentleman” premiered in Sydney in 2013 but closed after six weeks. “Blue Man Group” premiered in Sydney in 2013 but rest of the Australian tour was cancelled. “Addams Family” premiered in Sydney at the Capitol but the rest of the Australian tour was cancelled.
* Reference: “Rotten end for lauded show as liquidation looms due to debts” by Anne Davis in The Sydney Morning Herald, 10 March 2014
* Syllabus link: BOSTES NSW Preliminary Business Studies Syllabus (2010) Topic 1 – Nature of business
4. Price of a movie ticket too high?
The top price of an ordinary movie ticket has reached $20 in some Australian cinemas. Cinemas are lifting prices to stay in business amid high wage costs
and widespread downloading. Box-office takings across the industry fell 2.3 per cent to $1.1 billion last year, according to figures from the Motion Picture Distributors Association of Australia. Village co-executive chairman Graham Burke says piracy was “spreading like a virus” in Australia and if left unchecked would become a serious problem for his business. “Australia is probably the worst country in the world for pirating movies,” he said, labelling it “plain and simple theft”.
* Reference: “High pay blamed for $20 movies” by Madeleine Heffernan in The Sydney Morning Herald, 22 April 2014
* Syllabus link: BOSTES NSW HSC Business Studies Syllabus (2010) Topic 2 – Marketing (Marketing strategies)
5. Business case study - A travelling children’s bookshop
Kerri Bennett noticed that Geelong did not have the bookstores with kids’ areas that it used to have as consumer preferences changed from printed media to digital alternatives. Through her research, she discovered that although overall book sales were in decline, children’s books were selling strongly. “Parents still want their children to experience that tactility with books …” Ms Bennett says. One day Ms Bennett had a business idea – “I thought – Hey! What if I could take away the overhead of rent and transport my books to different places? What if I could take the books to the kids?” And so the idea for the Itty Bitty Book Van was born. Ms Bennett and her husband spent six months refurbishing a vintage, 1950s, home-built caravan to create a travelling bookshop for children. See www.ittybittybookvan.com.au for more information.
Legal News Bites
1. Death penalty as punishment in the Middle East
An Indonesian maid in Abu Dhabi (the capital of the United Arab Emrites) who murdered the four-month old child of her employer will receive the death penalty. The child’s caretakers will be present at the execution.
* Reference: “Maid gets death penalty for killing child” by Nada Al Taher in “Gulf News”, 2 January 2015
* Syllabus link: BOSTES NSW Legal Studies HSC Syllabus (2009) – Core Part I – Crime
2. Miscarriage of justice – man freed after 29 years jail
A judge in Brooklyn, New York, has overturned the conviction of a man who has spent 29 years in jail for kidnap and murder, saying it was based on a false confession.David McCallum, who was 16 when he was arrested in 1985, broke down after a judge in New York exonerated him. McCallum and Willie Stuckey, also 16 at the time, were arrested for the kidnapping and murder of Nathan Blenner, 20. The Brooklyn district attorney’s office investigated the case in 2014 and concluded that the confessions of McCallum and Stuckey were false and that there was no evidence linking them to the crime. Stuckey died in prison.
* Reference: “Man freed after 29 years in jail” in The Daily Telegraph, 17 October 2014
* Syllabus link: BOSTES NSW Legal Studies HSC Syllabus (2009) – Core Part I – Crime
3. Right to smoke?
Australians may have the right to smoke, but the number of places that right can be exercised is getting smaller and smaller. At present the NSW Smoke-Free Environment Act prohibits smoking in most recreational areas, including playgrounds, bus stops and pools but not beaches. However, ten of Sydney’s eastern beaches including Coogee, Maroubra and Clovelly are now smoke free after a motion to ban smoking was passed by Randwick Council. This brings Randwick beaches into line with other popular Sydney beaches including Bondi and Manly. Arguments for the ban include people suffering the effects of passive smoking that cigarette butts are difficult for cleaning machines to pick up and that marine life and birds can end up ingesting cigarette butts. Some councillors opposed the ban saying it would be too difficult to enforce. While rangers will have the power to issue fines, they have no power to compel people to give out their personal details. There are calls for Premier Mike Baird to amend the NSW Smoke Free Environment Act to include beaches.
>> Click here for the news about new smoking bans in Victoria.
* Reference: “Smoking ban on Coogee, Maroubra and Clovelly beaches” by Lisa Visentin, in “The Sydney Morning Herald” , 30 October 2014
* Syllabus link: BOSTES NSW Legal Studies Preliminary Syllabus (2009) – Part II: The individual and the law
All good wishes for a happy Easter.
President — Economics and Business Educators NSW
2 March 1986 – The Australia Act became law, cutting Australia’s legalities with Britain. Appeals from an Australian court to a British court are now not allowed.
7 March, 1876 – A patent is issued in the US for the telephone devised by Alexander Graham Bell.
10 March 1959 – Australia’s population reached 10 million.
18 March 2003 – Prime Minister John Howard formally pledged 2000 Australian defence personnel to a US-led attack on Iraq.
12 March 1921 – Edith Cowan, 60, becomes the first woman elected to an Australian Parliament.
14 March 1964 – Nightclub owner Jack Ruby is found guilty in Dallas, Texas of the murder of Lee Harvey Oswald, assassin of US President John F. Kennedy, who had been charged with the assassination of John F. Kennedy two days earlier.
15 March 44BC – Julius Caesar, dictator of the Roman Republic, is assassinated by a group of senators led by Gaius Cassius.
20 March 1990 – John Wayne Glover, who killed six elderly North Shore women, is arrested in Sydney. The “granny killer” committed suicide by hanging himself in his Lithgow jail cell in 2005.
23 March 1922 – Queensland’s 63 year old upper house is abolished as an Act is proclaimed for one chamber of Parliament.
24 March 1977 – Don Chipp resigned from the Australian Liberal Party with the intention of forming his own party. In May of the same year, he forms the Australian Democratic Party. The Australian Democratic Party no longer has any current serving members of parliament in Australia.
25 March 1988 – EFTPOS machines began operating at over 8000 retail outlets across Australia.
26 March 1984 – The Australian $100 note went into circulation.
26 March 1987 – A dysfunctional Sydney City Council is sacked by the NSW Labor state government.
29 March 1901 – Australia’s first Federal election was held. Sir Edmund Barton was voted in as the country’s first Prime Minister.
30 March 1962 – Australian Aborigines won the right to vote in federal elections.
* Correction: In the February 2015 edition of the EBE eNewsletter it was stated in “Looking Back” section that on 11 February 1986, Joan Child, 61, became the first speaker of the House of Representatives. This should have read “the first female speaker ...”.
Quick statistic from the Australian Bureau of Statistics 2011 Census
In Australia, of people aged 15 years and over, 70.0% did unpaid domestic work in the week before the Census. During the two weeks before the Census, 27.8% provided care for children and 10.9% assisted family members or others due to a disability, long term illness or problems related to old age. In the year before the Census, 17.8% of people did voluntary work through an organisation or a group.
Attitude to money
It’s not the employer who pays the wages. Employers only handle the money. It’s the customer who pays the wages.
– Henry Ford
“Things don't have to change the world to be important."
– Steve Jobs,