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Economics and Business Educators of NSW

From the President

11  September 2013

Next EBE NSW Professional Development Event
Industry Visit for Teachers – Fairfax Printers Plant Tour – Friday 27 September 2013

EBE NSW in collaboration with Fairfax Media invites teachers of Business Studies and/or Commerce to participate in an industry visit to the Fairfax Printing Plant at Chullora, Sydney on Friday 27 September, 8am to 10am (first week of the end of the Term 3 school holidays). This business case study is ideal for the Operations topic in Business Studies and the Running a Business topic in Commerce. Come and tour the plant led by an expert tour guide, receive expert information and see if this is an experience your students would benefit from. Return to your classroom after this experiential professional development course with knowledge of an actual business case study based on practical experience. We have been able to keep costs very low for this event and charge a very low course fee ($15.00 for EBE NSW Members,  $13.00 for EBE NSW Student Teacher Members, $30.00 for Non-members). This course is registered with the NSW Institute of teachers. 
>> Click here for the program and registration form.

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

Thank you to all teachers who submitted their students’ entries for this year’s CPA PYOE Competition. The shortlisting and judging process is now underway. The winners for NSW  will be announced at the NSW Awards Ceremony which  will be held on 10 October 2013 at the Catholic Education Office – Southern Region Office ( 300 The River Road Revesby Heights  NSW) at 5.30pm. Members are very welcome to attend this event. Please RSVP by 4th October 2013 by sending an email to We look forward to recognising the winning business plans that have been produced by students in NSW schools for this year’s competition. All students who entered the competition will receive a Certificate of Participation in the post.

2013 EBE NSW Annual General Meeting – Monday 21 October 2013

The 2013 EBE NSW will be held on Monday 21 October 2013 at 6pm at Club Burwood RSL (96 Shaftesbury Road, Burwood NSW). All EBE NSW members are welcome to attend this meeting. It will be an opportunity to meet and network together and hear the annual reports of our association. Our guest speaker will be Mr Anthony Matis who is the General Manager Education at CPA Australia. Another important part of the annual AGM is to elect the EBE Board of Directors as we begin a new year. I encourage members to nominate as a member of the EBE Board. Please see the 2013 AGM information package which will be posted to all members for further information or contact

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 teachers of our courses from around Australia and visit a wonderful part of our country.

2013 Board of Studies NSW Examinations

EBE NSW wishes all students preparing for the Board of Studies NSW examinations below, every success:
2013 HSC Legal Studies Examination – Day 4 – 17 October 2013
2013 HSC Economics Examination – Day 10 – 25 October 2013
2013 HSC Business Studies Examination – Day 11 – 28 October 2013

A reminder about the resources available on the Board of Studies NSW website to assist students as they prepare for the examinations and teachers as they conduct revision lessons - past examination papers, marking guidelines, sample answers and notes from the marking centre.  Keep in mind the examination papers before 2011 for Legal Studies are based on the old Legal Studies syllabus. Also the papers before 2012 for Business Studies are based on the old Business Studies syllabus.

Board of Studies NSW Online HSC Multiple Choice Questions

As you may know, the Board of Studies NSW website has an online multiple choice practice section for Business Studies, Economics and Legal Studies, consisting of past multiple choice questions from 2001 – 2009. As there have been syllabus changes since 2009, some of those questions will not be relevant to the current syllabuses. Therefore it is advisable for teachers to point this out to students who may be using this resource to practice past examination questions. In April of this year, the EBE NSW Board of Directors wrote to the Board of Studies NSW asking if there is an intention to update this section of the website so as to include questions post-2009. We were pleased to receive a response saying that preliminary work has commenced to update the online multiple choice questions in our subject areas. We look forward to the results of this project.

The Sydney Morning Herald HSC 2013 Study Guide

"The Sydney Morning Herald HSC 2013 Study Guide”, published in June 2013, has two articles on our courses:
  • "Effort generates high rate of returns” on Economics/Business Studies (page 15)
  • "Do the time on crime” on Legal Studies (p.21).
Business Studies teachers and students are advised about the unfortunate error in the section on Business Studies in the article “Effort generates high rate of returns” which states that in Section III of the Business Studies examination students need to “answer two extended-response questions (40 marks)”. The Board of Studies NSW "Assessment and Reporting in Business Studies Stage 6" (March 2011) states that  in Section III of the Business Studies examination “there will be one question that requires an extended response...” worth 20 marks (page 7). EBE NSW has written to both the Board of Studies NSW and The Sydney Morning Herald advising them of this error.  It should also be noted that the extended response in this section must be written in “a business report format” (page 7 of the document above).

The advice given to Economics students in the Economics section of the “Efforts generates high rates of return” article by Economics teacher and former President of EBE NSW, Lyn Kirkby is very useful and we hope that all Economics students have been able to access this excellent advice. In this year’s study guide the President of the Board of Studies NSW, Tom Alegounarias, gives the following advice to students:
Don’t rely solely on rote learning – this makes you vulnerable if your answer doesn’t match the question, and you may be penalised by our experienced markers. (page 3)

Practice examination  papers -  EBE NSW Trial HSC Examinations

The 2013 EBE NSW Trial HSC Business Studies, Economics and Legal Studies examinations and examination papers from previous years are useful resources for students as they prepare for the upcoming HSC examinations. These examinations are written by EBE Directors.
>> Order form

2013 MoneySmart Week Awards – “Schools category”

EBE NSW congratulates the winners of the 2013 MoneySmart Week Outstanding Achievement Award winners in the “Schools category”:
1. Duval High School – “Go Budgeting” (see below)
2. Financial Basics Foundation & Bank of Queensland - Essi Money (see below)

For information about all the award winners and the judges’ comments, go to‎.

Schools category
Duval High School - Go budgeting
Duval High SchoolGo budgeting is an interactive web site that allocates a real life scenario for which a student must develop a personal budget using the online website. Activities such as meal planning, interest and dividend quizzes are used to assist in adjusting the personal budget. The top budgeters have their username and school added to the "High Scores page". Teachers' notes as well as a number of other useful financial literacy resources are included. The website was developed by Duval High School Social Science staff and a former software student. It is supported by the Community Mutual organisation.

Financial Basics Foundation & Bank of Queensland - Essi Money
ESSI Money - which stands for Earning, Saving, Spending and Investing - is a unique and engaging financial literacy teaching resource. The game is designed around the concept of a journey through a 'virtual reality' that simulates 6 months. Students achieve an understanding of how decisions made throughout a time period can have both positive and negative impacts on their financial situation. It allows students to practise real life financial transactions and experience the consequences in a fun and challenging way. ESSI Money takes teaching financial skills to a new level because it allows teachers to engage with their students using technologies they are familiar with, such as the internet, email, online buying and selling, and mobile phones.

Free Public Lectures at The University of Sydney

1.  “Foreign Policy Implications of Chinese Nationalism Revisited: The Strident Return” by Professor Suisheng Zhao, Director of the Center for China-US Cooperation at Josef Korbel School of International Studies, University of Denver
Date: Tuesday 17 September 2013
Time: 6.00pm to 7.30pm
Venue: The University of Sydney
Registration: This event is free. Please register at

From Professor Suisheng Zhao:
Professor Suisheng ZhaoMy talk revisits the debate about foreign policy implications of Chinese nationalism in the context of China’s increasingly confrontational and assertive behaviour in recent years. I argue that while the Chinese government made effective efforts to control popular nationalism and Chinese foreign policy was therefore not dictated by the emotional nationalistic rhetoric before 2008, it has become more willing to follow the popular nationalist calls to take confrontational position against the Western powers and adopt tougher measures in maritime territorial disputes with its neighbours. This strident turn is partially because the government is increasingly responsive to the public opinion, but more importantly because of the convergence of Chinese state nationalism and popular nationalism calling for a more muscular Chinese foreign policy. Enjoying an inflated sense of empowerment supported by its new quotient of wealth and military capacities and terrified of an uncertain future due to increasing social, economic and political tensions at home, the communist state has become more willing to play to the popular nationalist gallery in pursuing the so-called core national interests. These developments have complicated China’s diplomacy, creating a heated political environment to harden China’s foreign policy.

Professor Suisheng Zhao is Professor and Director of the Center for China-US Cooperation at Josef Korbel School of International Studies, University of Denver. A member of the Board of Governors of the US Committee of the Council for Security Cooperation in the Asia Pacific, a member of National Committee on US-China Relations, a Campbell National Fellow at Hoover Institution of Stanford University, and a Research Associate at the Fairbanks Center for East Asian Research in Harvard University, he is the founder and chief editor of the Journal of Contemporary China. He received his Ph.D. degree in political science from the University of California-San Diego, M.A. degree in Sociology from the University of Missouri and BA and M.A. degrees in economics from Peking University, and was Associate Professor of Political Science and International Studies at Washington College in Maryland, Associate Professor of Government and East Asian Politics at Colby College in Maine and visiting assistant professor at the Graduate School of International Relations and Pacific Studies (IR/PS) at University of California-San Diego.

He is the author and editor of more than ten books, including recent publications: China’s Search for Energy Security: Domestic Sources and International Implications (2012); China and East Asian Regionalism: Economic and Security Cooperation and Institution-Building (2012), and In Search of China’s Development Model: Beyond the Beijing Consensus, (2011). His articles have appeared in Political Science Quarterly, The Wilson Quarterly, Washington Quarterly, International Politik, The Hague Journal of Democracy, European Financial Review, The China Quarterly, World Affairs, Asian Survey, Asian Affairs, Journal of Democracy, Pacific Affairs, Communism and Post-Communism Studies, Problems of Post-Communism, and elsewhere.

2. “Chinese Dreams” by  H.E. Consul General Mr Li Huaxin
Date: Tuesday 24 September 2013
Time: 4.00pm to 5.30pm
Venue: The University of Sydney
Registration: This event is free. Please register at

H.E. Consul General Mr Li HuaxinChina’s new leadership elaborated the concept of the ‘Chinese Dream’ for the first time in November 2012. As the economic and strategic importance of China continues to grow, discussion of this new concept has drawn attention internationally. The Consul General of China in Sydney, Mr Li Huaxin will deliver a keynote speech on the Chinese Dream, in which he will explain the background and content of the Chinese Dream, and what the Chinese Dream means to the world, particularly Australia. He will take questions from the audience.

H.E. Consul General Mr Li Huaxin is the present Consul General (Ambassadorial Rank) of the People’s Republic of China in Sydney. He has long diplomatic career including postings in Saudi Arabia, Iraq, and Syria, and internal position in China as Deputy Director General, Department of West Asia and North Africa Affairs, Ministry of Foreign Affairs of China and Deputy Director-General, Senior Diplomats Committee, Ministry of Foreign Affairs of China.

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”).

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
All good wishes for the upcoming end of Term 3 school holidays.

Joe Alvaro
President — Economics and Business Educators NSW

Looking back 
3 September 1992 - Channel 9 boss, Kerry Packer orders the channel 9 television program, “Naughtiest Home Video Show” hosted by Doug Mulray off the air mid-way through the airing of the program.

8 September 1947 – The federal Arbitration Court approves a 40-hour working week, reduced from 44 hours, to start the following year.

11 September 2001 – Afghanistan based Al – Qaeda terrorists fly two hijacked US airliners into the twin towers of the World Trade Centre in Manhattan and one into the Pentagon in Washington.

12 September 1991 – The Commonwealth Bank floats on the ASX.

12 September 2001 – Australian airline, Ansett Australia, suffers financial collapse leaving many workers unemployed.

Quick statistic from the Australian Bureau of Statistics 2011 Census
Of the families in Australia, 44.6% were couple families with children, 37.8% were couple families without children and 15.9% were one parent families.

Attitude to money
"There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else."
Sam Walton

"Birds sing after a storm; why shouldn't people feel as free to delight in whatever remains to them."
Rose Kennedy,
American philanthropist

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