EBE members are now able to access the electronic version of The EBE Journal online. Members must register to access the journal.
Economics and Business Educators of NSW

From the President - Joe Alvaro

18  December 2015

Dear EBE NSW Members,

Welcome to the 2015 December EBE NSW e-newsletter.

2015  EBE NSW Annual General Meeting – 7th  December 2015

As 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 can be accessed here.
  • The EBE NSW Financial Statements for the year ended 30 June 2015 can be accessed here.
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

Have you renewed your EBE NSW membership for 2016?

Membership renewals have been posted to members (contact if you have not received your renewal notice). Thank you to all members who have promptly renewed their membership. Be sure to renew your membership in order to gain all the benefits of membership of EBE NSW during 2016.
Anyone who would like to join EBE NSW can visit the EBE NSW website where they will find the membership forms and the different membership categories offered.

2015 EBE NSW CPA Plan Your Own Enterprise Competition NSW Awards Ceremony – 20 October 2015

2015 EBE NSW CPA Plan Your Own Enterprise Competition NSW Awards Ceremony – 20 October 2015

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. Congratulations to 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). 

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  (20 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 with Joe Alvaro - EBE NSW President second from left and Julie Chessman – CPA Australia (fourth from left)
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 the students, their families and teachers for attending the presentation at the CPA Sydney Head Office.
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.
2015 PYOE NSW Coordinator Nicholas Ward at the 2015 EBE NSW CPA Plan Your Own Enterprise Competition NSW Awards Ceremony – 20 October 2015
EBE NSW also thanks Business Educators Australasia and CPA Australia for their continuing support of this competition.
Congratulations to all the winners. Be sure to incorporate the PYOE competition into your Commerce and/or Business Studies teaching and learning program in 2016.

PYOE NSW finalists at the 2015 EBE NSW CPA Plan Your Own Enterprise Competition NSW Awards Ceremony – 20 October 2015

2015 PYOE NSW Competition Finalists
Division One
Shamal Deolekar 
Asquith Girls High School, Teacher: Mr. Russell Lewis
Eureka Café 
Srishti Jain 
Hurlstone Agricultural High School, Teacher: Ms. Elizabeth Johnson
Forever I do 
Tanisha Lafitani 
Loreto Normanhurst, Teacher: Mr. Matt Kohlhagen
Grey Nomad
Alivia O'Connell
Loreto Normanhurst, Teacher: Mr. Matt Kohlhagen
Intergenerational Solutions 
Joshua Spicer 
Rose Bay Secondary College, Teacher: Mr. Philip Horrell
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 Taxis
Charlotte Johnson 
Loreto Normanhurst, Teacher: Ms Rebecca Lee
The Secret Spot Application 
Madelina Kalpou
Inaburra School, Teacher: Mr Michael McGovern
Marissa Guan 
Sydney Girls High School, Teacher: Mr. Scott Sinclair
Division Two
Classic Vibes
Jinaho Huang, Dean Chen & Jimmy Yip 
Sydney Boys High School, Teacher: Mr. Tom Dolan
Elk Blu Business Plan
Kevin Zhang, Lucas Wong, Eddy Xiong & Michael Yang 
Sydney Boys High School, Teacher: Mr. Tom Dolan
Lemon Myrtle
Vanshika Virmani & Jennifer Xu
Hornsby Girls High School, Teacher: Stephanie Boden
Midlife Leverage
Teah Fulton, Joy Chayna & Holly Waples
Illawarra Christian School, Teacher: Cheryl Brennan
Shuffle My Schedule
Madison Allan, Chrissy Burjan & Sophia Costantino 
MLC School, Teacher: Mrs Allison McCulloch

2015 CPA Plan Your Own Enterprise Competition National Awards Ceremony – 14 October 2015

The Plan Your Own Enterprise Competition NSW Division 1 winner, Joshua Spicer, represented NSW at the national PYOE awards ceremony in Melbourne on 14 October 2015 held by Business Educators Australasia. Unfortunately Joshua was not successful at the national level of the competition but he is to be congratulated for getting this far 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.

2016 Business Educators Australasia Biennial Conference – “Thinking, Teaching, Doing”  Business

The 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 low 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 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 will be available on the EBE NSW website in 2016.

2015 Financial Literacy Australia Awards

On 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 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.

To read more about the awards and the 2015 award recipients visit Congratulations to all the winners.

Subsidised Teacher Familiarisation Tour to Canberra

Spend an action packed weekend in your National Capital with teachers from all states, disciplines and backgrounds, discovering the educational benefits of taking school excursions to the National Capital. Over the weekend teachers embark on an excursion like tour of their National Capital meeting education staff from 23 National Attractions who introduce teachers to the programs, exhibits and educational activities available to students at both primary and secondary levels.

Dates: Friday 18 - Monday 21 March 2016 
Costs: Participation fee includes flights, coach transfers in Canberra, 3 nights accommodation and most meals*
$500 for participants from NSW, VIC, SA, South QLD and TAS 
$650 for participants from WA, NT and north QLD
*$300 if you organise your own transport to/from Canberra and don't require flights
More information here.

YMCA NSW Youth Parliament

Youth Parliament is a 6-month program for students in years 10-12, which aims to engage a diverse array of young people from across NSW in youth advocacy, active community leadership and personal development. Youth Parliament is an apolitical program whereby young people can speak up on issues they are passionate about and be given the opportunity to create and debate solutions at NSW Parliament House in front of current Members of Parliament and industry leaders.
To find out more about the program and further information on how to apply, visit the website.


2015 Parliament of Australia My First Speech winners announced

Muthukkumarasamy Mohanapiriyan, or Piri, from AB Paterson College on Queensland's Gold Coast, is the winner of the 2015 My First Speech competition.

The nationwide competition was open to all Australian students enrolled in years 10 to 12 and entries came in from all over the country. Students were asked to imagine themselves as a newly elected Member of Parliament and to write and present a three minute speech about issues important to their electorate or something they would like to communicate to the federal Parliament and the Australian people. Rachel Aquino from Chatswood High in NSW came second and from Ballarat Grammar in Victoria, third place went to Anna Pryse-Smith from Ballarat Grammar in Victoria. Piri, Rachel and Anna's prize includes a trip to Canberra, accompanied by a parent or guardian, to present their speeches live at Parliament House in front of Members and guests. The judges this year were Member for Longman and Assistant Minister for Innovation Hon Wyatt Roy MP, Member for Griffith Ms Terri Butler MP and Member for Melbourne Mr Adam Bandt MP.
My First Speech is a Department of the House of Representatives initiative to engage high school students with the work of the House. Watch the winning speeches at EBE NSW congratulates all the winners.

Chartered Accountants Scholarship Fund

The Chartered Accountants Scholarship Fund has been established to assist marginalised and disadvantaged Australians pursue tertiary education through an undergraduate university course with an Accounting focus. These scholarships are being offered by Chartered Accountants Australia and New Zealand and an individual may make application for a grant. 

Applications for the March 2016 university year open on 7 December 2015 and close on the 21 January, 2016. The scholarship grant is for the 2016 University year. For more information on the Scholarship Fund click here.

Student scholarships available from SP Jain School of Global Management

SP Jain School of Global Management is an Australian business school with an emphasis on global intelligence. It has campuses in Sydney, Mumbai, Singapore and Dubai. Visit for more information. SP Jain has a number of scholarships available to students from Australia. More information is available from Nimisha Vadivale,  Marketing Officer (Student Recruitment) – Sydney. Email address:

Nominations open for the NSW Government Women of the Year Awards

Nominations are open for the NSW Government Women of the Year Awards. Do you know a successful woman who you could nominate for one of the awards below? Perhaps you know a female educator who you could nominate?

There are five statewide award categories:
  • The Premier’s Award recognises NSW women who have excelled in their chosen career, field or passion. These women are exceptional achievers who have made a significant contribution to NSW and whose accomplishments make them a strong role model for other women.
  • Rex Airlines Regional Woman of the Year Award celebrates women from regional NSW who have made significant achievements in areas that are important to regional or rural communities.
  • The A.H. Beard Community Hero Award celebrates heroes and/or volunteers who have made outstanding contributions to the community. These women are positive role models who inspire others to contribute to the community too.
  • Harvey Norman’s Young Woman of the Year Award celebrates women aged 18 to 30 years who have excelled in their career or made a significant contribution to their community.
  • NSW Aboriginal Woman of the Year Award awarded by the Minister for Aboriginal Affairs, this award is specifically for an Aboriginal woman who has promoted reconciliation and cohesion by improving relationships between the wider Australian community and Aboriginal and Torres Strait Islander people. This could include Aboriginal women working in any sector or field such as business, government, community or academia.
Nominations close at 11.59 pm on Wednesday 13 January 2016. More information here.

Australian Government Endeavour Scholarships and Fellowships

Endeavour Scholarships and Fellowships are internationally competitive, merit-based scholarships funded by the Australian Government that support citizens around the world to undertake study, research and professional development in Australia and for Australians to do the same overseas.
The Endeavour Scholarships and Fellowships offer support to Australians to undertake study, research or professional development in a participating country and/or region. All recipients will receive:
  • travel allowance: $3,000 (provision to pay up to $4,500 under special circumstances)
  • establishment allowance: $2,000 (fellowships) or $4,000 (scholarships)
  • monthly stipend: $3,000 (paid up to the maximum category duration on a pro-rata basis)
  • health insurance for the full category duration
  • travel insurance
Endeavour Scholarship recipients will also receive tuition fees paid up to the maximum study/research duration on a pro-rata basis. Tuition includes student service and amenities fees. More information and the description of the Australian categories here

Australian Screen Content Project

EBE NSW members are able to help out with the following research project. See below a message from Dr Ben Goldsmith:
My name is Ben Goldsmith, and I am a Senior Research Fellow at Queensland University of Technology in Brisbane.  I am managing an Australian Research Council funded project that is exploring classroom use of Australian screen content in schools and universities across Australia. The project is called Australian Screen Content in Primary, Secondary and Tertiary Education: Uses and Potential. 
We are interested in discovering whether or how the use of screen content and screen-based learning is or is not helping primary and secondary schools to deal with the constant pressure to expand the curriculum and take on additional responsibilities. We are interested in pedagogy around screen content – how teachers are incorporating screen content in teaching, and how students engage with it.
I’m writing to you to ask if it might be possible for us to circulate information about the project among your members (perhaps through an email list) and specifically:
1)      To ask teachers to complete an online survey on Australian screen content use in their classrooms, which can be accessed here.  
2)      To encourage teachers to contact us if they are using Australian screen content in interesting or innovative ways, with a view to myself or one of the other researchers on the project conducting fieldwork in their school. This would consist of:
  •  1 x 30 minute interview with the school’s librarian responsible for purchase and oversight of audiovisual resources
  •  4 x 30 minute interviews with teachers from a variety of curriculum areas.
Please feel free to email me if you have any questions.  Further detail about the project can be found on our website.
Kind regards,
Dr Ben Goldsmith
Senior Research Fellow
ARC Centre of Excellence for Creative Industries and Innovation, Queensland University of Technology
Z1 515, Kelvin Grove, Brisbane 4059
Ph: 07 3138 0366   Mobile: 0434556107

Teacher Travel Programs

"I will talk about these trips all year in my classes. For so many of my students, my description of my travels will be the only exposure they will have to other countries and other ways of life." — Social studies teacher Michael Baldwin, whose first time traveling abroad was with GEEO. 
Travel the world, earn professional development credit, and bring global understanding into your classroom! 
Founded in 2007, Global Exploration for Educators Organization (GEEO) is a 501c3 non-profit organization that has sent over 1300 teachers abroad on adventurous travel programs. With GEEO educators can earn professional development credits while seeing the world. GEEO's trips are 7 to 21 days in length and are designed and discounted to be interesting and affordable for teachers. In addition to amazing tour leaders, many of the programs are accompanied by university faculty that are experts on the destination. GEEO also provides teachers with educational materials and the structure to help them bring their experiences into the classroom. The trips are open to all nationalities of K-12 and university educators, administrators, retired educators, aspiring teachers, as well as educators’ guests.

GEEO is offering the following travel programs for 2016: Bali/Lombok, Bangkok to Hanoi, China, Costa Rica, Eastern Europe, The Galapagos Islands, Greece, Iceland, India/Nepal, Ireland, Israel, Italy, Jamaica, Morocco, Myanmar (Burma), Peruvian Amazon, Peruvian Andes, Portugal/Spain, Heart of the Silk Road, Southern Africa, Southern India, Sri Lanka, Turkey, Vietnam/Cambodia, Western Balkans, Peru (Winter Break), Israel (Spring Break), Moorish Spain (Spring Break), and Morocco (Spring Break). 

Detailed information about each trip, including itineraries, costs, travel dates, and more can be found at

Excursion and incursion idea - The Big Issue Classroom

The Big Issue Classroom employs disadvantaged Australians to share their story with school students. Incursions and excursions are available for Business Studies, Legal Studies and Commerce students. Visit the website for more details.

Teachers supported to make videos

The NSW Department of Education encourages and supports teachers to take advantage of the funded ClassMovie service. ClassMovies involves teachers creating short documentary videos to showcase best practice teaching and learning, and sharing them online with their colleagues and the broader community. This a great way of supporting and showcasing what teachers do and the first 1000 films that are made by NSW public school teachers are free!
Teachers are provided with a film planning pack with all instructions they need to make a three to five minute video. The raw footage is then sent into ClassMovies headquarters to be edited by graduate film makers, without the need for teachers to have the technical skill, time or specialist equipment required to finish the product.
Visual arts teacher Chloe Veljanovski loved making videos with ClassMovies so much she now works for them, empowering other teachers to share their innovative practice with colleagues around the state.If you would like to get more information about the video project or if you would like Chloe to visit your school to discuss how to make the best use of ClassMovies, please get in contact with her:
Making a ClassMovies is easy and rewarding. Check out the films teachers are making on the Department of Education’s channel:

12 money tips for Christmas

Read 12 money tips for Christmas from ASIC’s MoneySmart.

Economics and Business News Bites

1. Westpac Economic Update: 10 December 2015
In this Economic Update, Westpac Senior Economist Elliot Clarke comments on the NAB Business survey and Australian Chamber Survey of Industrial Trends with robust results. Also, Melbourne Institute Consumer Sentiment Index Survey and the Labour Force Survey release. Plus, looking forward to next week's US Federal Reserve meeting notes. Click here to access the update on video (accessed on 13 December 2015).
2. Unemployment rate
Official data from the Australian Bureau of Statistics shows that the economy added 71,400 jobs in November 2015, while a total of 301,700 jobs have been created since the start of the year. The national unemployment rate has fallen to 5.8 per cent, while the unemployment rate in New South Wales has fallen to 5.2 per cent. Some 127,000 jobs have been created nationwide in the last two months, which may prompt the Reserve Bank to leave the cash rate on hold in February 2016.
- Article by Jacob Greber in The Australian Financial Review – 11 December 2015
- ABIX – Roy Morgan Daily News Summary – 11 December   2015
Syllabus link: BOSTES NSW Preliminary Economics Syllabus (2009) – Topic -  “Labour Markets”
3. 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 on Monday. 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 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  (accessed on 8 November 2015)
Syllabus link: BOSTES NSW HSC Economics Syllabus (2009) – Topic -  “The Global Economy”
4. Domino’s to expand its French network
Australian 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”
5. Movement friendly workplaces
More 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”

Legal News Bites

1. Miscarriage of justice
The 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:$4m-over-beckett/6926520 (accessed on 13 December 2015)
Syllabus link: BOSTES NSW HSC Legal Studies Syllabus (2009) – Topic -  “Crime”

2. NSW prisons now smoke free
Smoking 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 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”

3. 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”

EBE NSW Helpdesk

As always 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

EBE NSW Office

The EBE NSW office will close at 5pm on Friday 18 December 2015 for the Christmas and new year break and re-open for the new year on Wednesday 20 January 2016. Any urgent matters can be sent to
I would like to thank all members for their support of EBE NSW this year. I enjoyed meeting many of you at our many events this year and learning from each other at these events. All good wishes for a Happy Christmas and a restful break.

Joe Alvaro
President — Economics and Business Educators NSW

Looking back

8 December 1986Mary Gaudron, 43, is chosen by federal cabinet as the first woman judge of the High Court.
10 December 1996South African president Nelson Mandela signs a constitution to replace apartheid with democracy.
11 December 1996The Senate votes 34 – 32 to allow the federal government to sell off a third of Telstra’s shares.
13 December 2003 – Overthrown dictator Saddam Hussein, 66, is captured. American soldiers pull him from a hole near an Iraqi farmhouse. The dictator was later hanged.
16 December 2006Economist Milton Friedman dies in San Francisco aged 94. He was a leading figure of the Monetarist school and a defender of free markets.
* There is an article in “The EBE Journal” (2007, Vol. 41 No.3) by Tim Riley titled “Milton Friedman – 1912 –2006”. Tim writes about Milton Friedman’s contributions to economic theory and policy and also recalls taking his two 3 Unit Economics classes on an excursion to hear Milton Friedman speak in 1980. To access the article, go to the members section of the EBE website.
17 December 1967Liberal Party Prime Minister Harold Holt disappears while at Cheviot Beach on Port Phillip Bay in Victoria. He was later announced dead as a result of drowning at sea. His body was never found. Harold Holt was Prime Minister from 26 January 1966 to 19 December 1967. Some people regard him as one of the most hard-working of Australia’s politicians, becoming Prime Minister after 32 years as a parliamentarian.
22 December 1911 – Legislation is enacted to establish the Commonwealth Bank.

Quick statistic from the Australian Bureau of Statistics 2011 Census

The most common responses for religion in Australia were Catholic 25.3%, No Religion 22.3%, Anglican 17.1%, Uniting Church 5.0% and Presbyterian and Reformed 2.8%.

Did you know?

* Some cigarette companies advertised their products in the past as follows:
- Some brands of cigarettes in the 19th century were advertised as beneficial for asthma.
- One 1952 advertisement for Craven A tells people to smoke their brand “for your throat’s sake”.
- There was a 1950s campaign which told consumers that “more doctors smoke Camels than any other cigarette”.
Reference: “Bold claims help to sell ordinary goods” by Troy Lennon in “The Daily Telegraph”, 7 February 2012

Attitude to money

“There's no such thing as a free lunch.”
Milton Friedman


Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent.
- Calvin Coolidge, 30th US president

Copyright © 2015 Economics and Business Educators NSW, All rights reserved.

Our website address is: