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Economics and Business Educators of NSW

From the President

11  November 2013

Dear EBE NSW members,

I hope Term 4 is going well as final examinations are designed for courses and final assessment marks and rankings are prepared for students and parents. All the best to members who are marking the 2013 HSC Business Studies, Economics or Legal Studies examinations for the Board of Studies NSW.

2013 EBE NSW Annual General Meeting – Held on 21 October 2013

As a result of the elections held as part of the EBE NSW Annual General Meeting on 21 October 2013, a new Board of Directors has been elected. The Board of Directors for 2013/2014 are:
President: Mr Joe Alvaro (Marist College North Shore)
Vice President: Ms Kate Dally (Birrong Girls High School)
Vice President: Mr Stuart Jones (Inaburra School)
Treasurer: Ms Bronwyn Hession (Board of Studies NSW and President - Business Educators Australasia Inc.)
Company Secretary: Ms Pauline Sheppard* (Australian Islamic College)
Director: Mr Andrew Athavle (William Carey Christian School)
Director: Professor John Lodewijks (University of Western Sydney)
Director: Ms Pauline Sheppard* (Australian Islamic College)
Director: Ms Rhonda Thompson (Catholic Education Office – Southern Region)
* Pauline Sheppard was appointed Company Secretary at the Board of Directors Meeting on 21 October 2012 (following the AGM).

The President’s Report to the 2013 EBE NSW AGM can be accessed here.
The EBE NSW Financial Statements for the year ended 30 June 2013 can be accessed here.
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 at their next meeting, please email admin@ebe.nsw.edu.au.

2013 CPA Plan Your Own Enterprise Competition NSW Awards Ceremony – Held on Thursday 10 October 2013

EBE NSW recognised the 2013 PYOE NSW winners at our NSW awards ceremony on 10 October 2013 at the Catholic Education Office – Southern Region Office at Revesby Heights, NSW, together with their teachers and parents. Our special guest was Michelle Cook, Senior Relationship Manager, CPA Australia. I congratulate the following winners and their schools from NSW:

- Division 1(Individual entry) - Ella Bricknell, Pacific Hills Christian School, NSW for her business plan, “Captured Memories”.
- Division 2 (Group entry) – Keertana Avalur, Shevon Lau, Dana Royle from MLC School Burwood, NSW for their business plan, “Pasithea”.

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

EBE NSW has posted out the CPA Australia 2013 Plan Your Own Enterprise Competition Certificates of Participation from Mr John Cahill, President CPA Australia and Ms Bronwyn Hession, President Business Educators Australasia to all teachers who entered their students in the competition. Students can use these certificates for their job portfolios. Please contact admin@ebe.nsw.edu.au if any certificates have not been received.

I would like to thank our PYOE NSW Coordinator, Rhonda Thompson, for all her work with the competition this year, including the coordination of the NSW shortlisting and judging processes. EBE is grateful to Cheryl Brennan (EBE NSW Member), Kate Dally, (EBE NSW Vice-President), Stuart Jones (EBE NSW Vice-President), Anthony Matis (CPA Australia) and Michael Hanrahan (Principal at Hanrahans Accounting Services) for their involvement in these processes. As usual, the administration work from our office staff, Annette Davies and Alan Hearle was invaluable. CPA Australia sponsors the PYOE Competition and EBE acknowledges its support of students and teachers through this competition.

Thank you to all teachers who submitted their students’ entries for this year’s CPA PYOE Competition. The dates for next year’s competition will be communicated to members very soon.


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


From left to right:  Ella Bricknell (2013 PYOE NSW Competition Division 1 winner), Michelle Cook (CPA Australia), Joe Alvaro (EBE NSW President), Mark Swainson (Ella's Business Studies teacher)

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

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

From left to right: Anthony Matis (CPA Australia), Bronwyn Hession (Business Educators Australasia President), Ella Bricknell (2013 PYOE Competition National  Division 1  winner), Robert Thomason (CPA Australia)

Newspaper article - “Hills News” 5 Nov. 2013

EBE NSW Membership Renewals for 2014 due now

Membership renewal forms for 2014 have recently been sent to all members. The EBE NSW Board has made a decision to expand the concessional membership category for 2014. This category now includes casual/temporary teachers and retirees, in addition to student teachers. The membership fee for this category is $48.40.

Save this PD date for 2014 – Business Educators Australasia Biennial National Conference on 2-3 October 2014

The 2014 BEA Biennial National Conference will be held in Perth, Western Australia on 2-3 October 2014. This will be a great opportunity to network with other teachers of the subject matter we teach from around Australia and visit a wonderful part of our country.

Study notes for “Operations” available on NSW HSC Online

The NSW HSC Online website (www.hsc.csu.edu.au) now contains study notes for the HSC Business Studies topic “Operations”.

Study notes are also available for the HSC Legal Studies topic “Crime” and all the topics in the HSC Economics course.

Excursion idea – Reserve Bank of Australia – 65 Martin Place Sydney

The Reserve Bank offers presentations to groups of students and teachers. Possible programs include:

  • A presentation on monetary policy and the Australian economy for senior high school economics students.
  • A brief presentation on the Bank and its main functions for students studying commerce or related subjects.
  • A presentation on Australian banknotes, including how banknotes are produced and their security features. This presentation can be tailored for primary and secondary school children, as well as other groups.
  • A tour of the Bank’s Museum of Australian Currency Notes, for presentations given at the Reserve Bank’s Head Office in Sydney. The Museum may also be of interest to history teachers and students.

Visit www.rba.gov.au (Click on “About the RBA”, then “Education”)

2013 Board of Studies NSW Examinations

EBE NSW welcomes feedback on the 2013 Board of Studies NSW HSC Business Studies, Economics and Legal Studies examinations from members. What did you think? Were they fair examinations? Strengths? Any concerns? Please email admin@ebe.nsw.edu.au.

How popular is Business Studies, Economics and Legal Studies in 2013?

The Board of Studies NSW has released its 2013 Media Guide. It shows that Business Studies is the third most popular course in NSW (not counting compulsory English), after Mathematics and Biology, with 16 020 students enrolled in this course (an increase from 2012). Legal Studies has also increased its enrolments compared to last year, with 10 023 students enrolled in this course (making it one of the top ten subjects studies in NSW). There has been a slight increase in students studying Economics compared to last year, with 5335 enrolled in the Economics course. However this figure is concerning and EBE NSW would like to see more students learning the important subject matter in the Economics syllabus. We have begun some work on helping teachers promote the study of Economics and this has included discussions with some academics who teach Economics in our universities. We hope this project will contribute to an increase in the number of students studying Economics.

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

Board of Studies NSW Job Vacancies – Assessors for the 2014 HSC Business Studies, Economics and Legal Studies Examinations

As part of the Board of Studies NSW examination development process, draft examinations are assessed by teachers who have recent experience teaching the course. The role of an assessor is to provide an independent assessment of the examination paper by evaluating and commenting on it as a subject expert and as an experienced teacher. The assessor works on the draft examination paper and provides responses and advice to the examination committee about the appropriateness of examination questions. Assessing of the 2014 HSC examinations is scheduled between March and May 2014. This is a good opportunity for teachers who will not be teaching a particular HSC course next year to be involved in this aspect of the Board of Studies NSW examination process. Applications close on 22 November 2013. Full details are available on the Board of Studies NSW website (click on “Job Vacancies”).

Government will not proceed with self-education expenses cap

The following tax news is from a press release from Hon. J.B. Hockey MP, Federal Treasurer dated 6 November 2013:

Self-Education Expenses Cap (Announced as part of the 2013-14 Budget, and delayed for one year in the 2013 Economic Statement)

The Government will not proceed with Labor’s announcement to put a $2,000 cap on the amount people can deduct as self-education expenses, including training and educational courses, textbooks and other accreditation expenses.

Not proceeding with this measure means that these expenses will continue to be deductible according to the normal rules.

The highest number of self-education claims over $2000 (ie 80%) come from people earning less than $80,000 per annum.

We have been advised that there is no credible evidence of substantial abuse of this deduction. If credible evidence of systematic abuse emerges, then the Government will revisit this issue. Moreover the economic cost of this initiative is substantial. This was recognised by the previous Government which delayed the implementation of their proposal.


Universities Australia chief executive Belinda Robinson said the above decision lifted “one of the most serious threats to Australia’s productivity and competitiveness” (The Sydney Morning Herald, “Treasurer dumps Labor taxation plans” by Peter Martin, 7 November 2013).

Lunchtime Seminar - Ethics and the Economics Profession by Economist Deirdre McCloskey - Friday 29 November 2013

Presenter: Deirdre McCloskey
Topic: Ethics and the Economics Profession
Time: 12:15 pm for 12.30 pm, Friday, 29th November 2013
Presentations usually conclude by 1.15 pm to 1.30 pm
Venue: Ground Floor East Seminar Room, Reserve Bank of Australia, 65 Martin Place, Sydney
Cost: Free, light refreshments provided
RSVP: Please respond to admin@esansw.org.au

Deirdre McCloskey teaches economics, history, English, and communication at the University of Illinois at Chicago. A well-known economist and historian and rhetorician, she has written sixteen books and around 400 scholarly pieces on topics ranging from technical economics and statistics to transgender advocacy and the ethics of the bourgeois virtues. She is known as a “conservative” economist, Chicago-School style (she taught for 12 years there), but protests that “I'm a literary, quantitative, post-modern, free-market, progressive Episcopalian, Midwestern woman from Boston who was once a man. Not ‘conservative’! I'm a Christian libertarian.” More information can be found at www.deirdremccloskey.com 
 

Asia Education Foundation Study Programs to Asia

AEF develops and delivers programs designed for primary and secondary school teachers, school leaders and other education professionals, in partnership with education jurisdictions, teacher professional associations and education institutions across Australia.
Study programs provide contemporary, cultural and historical perspectives of our Asian neighbours and include opportunities to:

  • build intercultural understanding of our nearest neighbours.
  • develop knowledge and understanding of the countries of Asia and Australia's engagement with Asia.
  • link in-country experience with learning areas of the Australian Curriculum
  • strengthen professional networks amongst colleagues to support Asia literacy in schools.

Below are the upcoming study programs:
1. WA Angkor Cambodia Study Program, 5 to 16 January 2014
2. School Leaders in the Asian Century: India Study Program, 6 to 20 January 2014
3. 'Discover Myanmar', 8 to 20 January 2014
4. Introduction to China, 9 to 22 January 2014
5. Indonesia: A Diverse Archipelago, 2 to 12 January 2014
6. Introduction to Japan, 12 to 22 April 2014
7. Discover Bhutan, 12 to 21 April 2014
8. India, April 2014

>> Further detals and itineraries

Economics and Business News

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

* Syllabus link: Board of Studies Commerce Syllabus – Core Part 2.2 – Employment Issues – “Unemployment” - Board of Studies Economics Preliminary Syllabus – Topic 4 – Labour Markets
* Reference: www.abc.net.au/news/2013-11-07/unemployment-up/5075838 – “Australia’s unemployment rate at 5.7 per cent as job creation remains sluggish”, 7 November 2013

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

* Syllabus link:
- Board of Studies Commerce Syllabus – Option 2 - “Promoting and selling”
- Board of Studies Business Studies Preliminary Syllabus – Topic 2 – “Business Management”
- Board of Studies Business Studies HSC Syllabus – Topic 2 – Marketing
* Reference: The Sydney Morning Herald – “Myer loses Hugo Boss to DJs, where brand feels better suited” by Georgina Safe and Donna Demaio, 31 Oct. 2013

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

* Syllabus link:
- Board of Studies Commerce Syllabus – Option 4- “ Global Links”
- Board of Studies Business Studies HSC Syllabus – Global business parts of syllabus.
- Board of Studies Economics HSC Syllabus – Topic 1 – The Global Economy
* Reference: The Sydney Morning Herald – “Packer keeps the faith with gamble on Asia”, by Colin Kruger and Peter Cai, 31 Oct. 2013

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

* Syllabus link:
- Board of Studies Commerce Syllabus – Option 4- “Global Links”
- Board of Studies Business Studies HSC Syllabus – Topic 1 – “Operations”
- Board of Studies Economics HSC Syllabus – Topic 1 – The Global Economy
* Reference: http://www.smh.com.au/business/electrolux-to-shut-last-local-fridge-plant-20131025-2w6g7.html - “Electrolux to shut down last local fridge plant” by Anna Patty - 25 Oct. 2013

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

* Syllabus link:
- Board of Studies Commerce Syllabus – Option 2 - Promoting and selling
- Board of Studies Business Studies HSC Syllabus – Topic 2 – Marketing
* Reference: http://www.news.com.au/business/companies/samsung-extends-lead-over-apple/story-fnda1bsz-1226749434608 –“Samsung extends lead over Apple” – 30 October 2013

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

* Syllabus link:
- Board of Studies Commerce Syllabus
- Core Part 1.2 – Personal Finance – “Earning an income”
- Board of Studies Business Studies HSC Syllabus – Topic 2 – Marketing
* Reference: The Sydney Morning Herald – “Who missed the cut on Hollywood’s” – 31 July 2013

Legal News

1. 2013 Gaffiti Removal Day
Volunteers have participated in the NSW Government 2013 Graffiti Removal Day, with graffiti being wiped out at more than 200 sites in NSW. Graffiti costs NSW about $100 million a year. Premier Barry O’Farrell said that “rapid removal denies vandals the notoriety they crave and helps prevent repeat attacks in the same locations”. The law requires juvenile graffiti vandals to appear before court for a graffiti offence and give courts the power to:

  • Extend the time graffiti offenders spend on learner or provisional licenses;
  • Limit the number of demerit points they are able to accrue over a specific period, and;
  • Require the cleaning up of graffiti to be a condition of any court imposed Community Service Order on graffiti offenders.

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

* Syllabus link: 
- Board of Studies NSW Commerce Syllabus – Core Part 2 – Law and Society, Option 8 - “Law in Action”
- Board of Studies NSW Legal Studies Preliminary Syllabus – Core Part 1– The Legal System
- Board of Studies NSW Legal Studies HSC Syllabus – Core Part 1 - Crime
* Reference: Media Release, Barry O’Farrell MP Premier of NSW and Minister for Western Sydney, “Graffiti Removal Day spruces up the state”, 20 Oct. 2013

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

* Syllabus link:
- Board of Studies NSW Commerce Syllabus – Core Part 2 – Law and Society, Option 8 - “Law in Action””
- Board of Studies NSW Legal Studies Preliminary Syllabus – Core Part 1– The Legal System
- Board of Studies NSW Legal Studies HSC Syllabus – Option - Family
* Reference: Media Release, Greg Smith SC MP Attorney General, Minister for Justice, “Making false allegations for APVOs becomes a crime”, 23 October 2013

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

* Syllabus link:
- Board of Studies NSW Legal Studies HSC Syllabus – Option – Crime
* Reference: Media Release, Greg Smith SC MP Attorney General, Minister for Justice, “Better protection for sexual assault witnesses”, 30 October 2013.

Latest issue of "The EBE Journal" is out now

The EBE JournalThe latest issue of "The EBE Journal" (Issue 1 - 2013) is now available on the members section of the website. Articles include:
• Perspectives on the Global Financial Crisis – by John Lodewijks
• The Economics of Obesity - by John Lodewijks
• After the Boom: Where will growth come from? – by Roy Green
• Can ‘Green Jobs’ lead to employment sustainability? - by Ron Kelly
• Legal Influences on Business: Closing the Gender Gap - by Nick Clark
• Skills and Calculations in HSC Economics – by Anthony Stokes

There is also an article about Year 9 Commerce student, Max Duthie, who won the 2013 ASX Sharemarket Game 1, an interview with Gregory Verdon, an Australian teacher who teaches Social Sciences at the Australian International School, Singapore and responses by EBE NSW to ACARA'S consultation on the draft Australian Curriculum: Economics and Business and the draft Australian Curriculum: Civics and Citizenship.

Articles needed for the next issue of “The EBE Journal”

All members are invited to submit an article for publication in the next edition of “The EBE Journal”  (please email us at admin@ebe.nsw.edu.au).  Contributing to the journal is one way to demonstrate professional competence, accomplishment or leadership for the purposes of accreditation with the NSW Institute of Teachers. It is also an effective way to engage in professional dialogue and sharing with other teachers.

Past issues of "The EBE Journal"

Some past issues of "The EBE Journal" are available on the members section of EBE NSW website and contain some useful teaching and learning resources. For example in Issue 2, 2010 there are four articles which focus on extended response writing skills for Business Studies students:
  • Extended Response Answers - Assessing Structure by Ian Biddle
  • Extended Response - Maximise Your Marks by Ian Biddle
  • Analysing a Business Report by Darren Taylor
  • Linking Case Studies into the Parts of the Question by Ian Biddle

Advertising in “The EBE Journal”

EBE welcomes advertisements in “The EBE Journal” related to the teaching and learning of Business Studies, Commerce, Economics and Legal Studies.
Full Page $275
Half Page $165
Quarter Page $100

Further details can be obtained by emailing admin@ebe.nsw.edu.au.

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 helpdesk@ebe.nsw.edu.au.

All good wishes for the rest of Term 4.

Regards,
Joe Alvaro
President — Economics and Business Educators NSW

Looking back

1 November 1963 – Indigenous people across Australia win the right to vote on the same basis as other electors.
2 November 1956 – The Australian Broadcasting Corporation's first television station, ABN-2, began broadcasting in Sydney.
6 November 1999 – A majority of 55% vote to reject a referendum on a republic replacing the British monarch as Australia’s head of state.
6 November 2008 – The child-care chain ABC Learning goes into receivership, with debts totalling $1 billion. It was once the biggest child-care operator in the world.
* For more information on this case study and to watch the DVD “The ABC of a corporate collapse”, visit the CPA Australia website (then go to “CPA Program”, then “Information for academics”, then “Teaching resources”).
8 November 1960 – At age 43, John F. Kennedy became the youngest man ever to be elected president of the United States, narrowly beating Republican Vice President Richard Nixon. He was also the first Catholic to become president.
9 November 1983 – Australians Kevin Barlo, 27 and Brian Chambers, 29 are arrested at Penang International Airport with nearly 142g of heroin found later. Both are hanged in 1986.
13 November 1789 – US inventor Benjamin Franklin writes in a letter to a friend: “In this world nothing can be said to be certain, except death and taxes.”
13 November 1954 – A majority favour 10pm in a NSW referendum on bar closing time. In 1916, 6pm closing time began.
21 November 1989 – Christopher Skase’s Qintex group wins court approval to go into receivership, leaving debts of $1.5 billion.
22 November 1963 – US President John F. Kennedy is assassinated in Dallas, Texas.
* See “Tom Clay – What the world needs now” video www.youtube.com/watch?v=1uqNLnEzDLA‎
27 November 1986 – Federal Treasurer Paul Keating tells Parliament he was late in filing his last two tax returns.
28 November 1999 – Virgin airline chief Richard Branson announces plans for a “no frills” domestic airline in Australia.

Quick statistic from the Australian Bureau of Statistics 2011 Census

In Australia, of couple families, 21.7% had both partners employed full-time, 3.7% had both employed part-time and 21.4% had one employed full-time and the other part-time.

Attitude to money

“That, after all, is the best way to give children an understanding of money – setting themselves up for a life in which they will master money, rather than be mastered by it.”
- Richard Glover – “Good parenting is not about outbidding the competition, but giving the gift of self-sufficiency”, The Sydney Morning Herald, 30 October 2013

Quote

“I adored it (teaching). You were actually entrusted with professional responsibility, because while you’re in the classroom, you’re it. I loved that autonomy ... I really found my vocation.”
- Louise Robert-Smith (Former Principal of Ascham School, Sydney)

Copyright © 2013 Economics and Business Educators NSW, All rights reserved.
 







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