What does the market say? Economics News

[zofromuxo]

Students who were able to correctly apply economic theory to explain current and recent changes in economic performance and policies generally earned the highest marks.

-use economic methods of inquiry and tools to analyse the economic causes and consequences of contemporary events on local, domestic and international economies
-develop an understanding of how the Australian economy operates
-foster an understanding of how Australia’s economic relationships with other economies and global economic
institutions influence living standards and long-term prosperity
-evaluate the effectiveness of government responses to economic situations

So with that thought in your mind. You need to make choice on how to obtain the current and recent changes in economic performance and policies. Do you make it yourself or do you outsource it?

Well as we say "when there is demand, there is a supply". I'll be supplying you all some of the latest and greatest economic coverage on the Australian economy every week. There will be no release schedule because i'm a monopoly therefore I have no need to be efficient for you consumers

I will however ensure you can access all these articles. Sorry Paywall sites.
Also after consuming this piece of media, I would appreciate an upvote as payment. This is a public good and I need to make some return on it so please don't be a free rider .


Five ways to kickstart the economy -without cutting the company taxes (The Conversation)
-Analysis on the Shifting the Dial report by the Productivity Commission 

Grocery price fall not enough not enough to offset spike in electricity (The Age)
-Talking about the inflation rate. 

Treasurer Scott Morrison says company tax cuts urgent as he prepares to unveil a new wave of reform (The Age)
-The government’s response to bolster economic growth

Teachers and doctors face shake-up in Scott Morrison’s productivity revolution (The Age)
-Focus on Teachers and Doctor recommendation from the Shift in the dial report

‘Mediocrity beckons’: why we should worry about poor productivity (The Age)
-Discussion on the poor productivity trend in Australia in recent years

ASX treads water as Wesfarmers, $A sink (The Age)
-$A dollar falling to the lowest since July this year

Still too much slack in the labour market, says RBA deputy Debelle (AFR)
-Unemployment rate is affecting the interest rate decision

Commodities currencies crushed all by themselves (AFR)
-Report on falling currencies globally such as Australian, US, Canadian, New Zealand dollar

Australia’s GDP growth weakest in seven years (Macrobusiness)
-Review on annual national accounts for 2016-17 from ABS.
 

meme tax

[markrule]

Great info! Thanks!

[zofromuxo]

It is that time again. The dreaded exam. Yay!
I enjoy writing long-winded essays about how a budget policy intiative should work
on an economic goal

Anyway, enough moaning and complaining about Economics. Here are the "freshest" articles affecting
Australia this week.


ATO $4.2 billion short of budget revenue target (The Age)
-As the headline says. Lower budget revenue = cuts to funding or higher deficit.
Also has a nice piece on the Google tax made last year



'Remarkable' jobs growth raises hope for wages (The Age)
-Some to note for statistics you could use when talking about employment


'Household debt still growing six months into apra crackdown (AFR)
-A good article on the pressures of the RBA's upcoming decision to change the interest rate

I'm also disappointed at the amount of freeriders on this public good. I'm so very sadden by this.
I guess i'll have to cut back on being more efficient on this.

For any users doing the Economics exam tomorrow I wish you all the best. Its a new study design,
but hey at least you only need to know up to 2 years of statistics and not 5 years like I had to.

meme tax

For anyone doing Economics next year, You should already begin collating articles
from this year and as well as being on the lookout for articles during the school break. The assessor will be looking for examples to use
in the upcoming exam for next year.So keep that in mind, I'll also try and update this post with
articles, I think will be useful to know coming into next year.

[mindy.mcewen]

Hey...
Can anyone give me a hand with what the current budget stance is for 2017? Please...!?  

[zofromuxo]

Hey...
Can anyone give me a hand with what the current budget stance is for 2017? Please...!?  

If by 2017. You mean the 2017-18 budget.
I would say the stance is Contractionary. This is due to the budget declining the deficit set in last years 2016-17 budget.

[mindy.mcewen]

Cool....thankyou

[PandaWithNoName]

If by 2017. You mean the 2017-18 budget.
I would say the stance is Contractionary. This is due to the budget declining the deficit set in last years 2016-17 budget.

This is a very last minute question. I've been through past exam reports and I have hardly come across a response requiring me to incoporate the idea of the Goverment taking an "pre-emptive approach", will I need it for the exam?

[mindy.mcewen]

So when saying that the 2017-2018 Budget has been contractionary, as it has been wanting to reduce nation debts, am I right saying that this has lead to a decrease in aggregate-demand and a slowing of economic growth, as taxation etc. have been more than government outlays on infrastructure, healthcare, productivity etc?? 

[zofromuxo]

So when saying that the 2017-2018 Budget has been contractionary, as it has been wanting to reduce nation debts, am I right saying that this has lead to a decrease in aggregate-demand and a slowing of economic growth, as taxation etc. have been more than government outlays on infrastructure, healthcare, productivity etc?? 

Your on the right track. But the reasoning is wrong. The decrease in AD and slowing of economic growth is due to the government reducing spending/outlays on like infrastructure projects that are used to stimulate the economy to boost growth and AD.

[mindy.mcewen]

Phew...thanks for correction!!

[zofromuxo]

Yes, school holidays is on and by all means enjoy it.
But the world of economics never stops.
So here are the most pressing news pieces of the month that was November: A month to go down in Australian History forever.

Disclaimer:Don't assume the articles are 100% accurate and free of bias. Everything has a bias and you have to identify it. You also have to gauge the theory against reality as well. Please don't read these articles without applying critical thinking to them.

Reserve Bank: Interest rates remain on hold as lending restrictions take effect (The Age)
-Thoughts on the decision as well as future rate changes

ABS tweak has big impact on interest rate, inflation (The Age)
-Change in calculating inflation rate = Change in decision making of interest rate changes

Few noticed w e just saw a radical shift in reform (The Age)
-Thoughts on the new Shift the Dial report from the Productivity Commission by Ross Gittins aka Aussie Economics Legend

Company tax cuts still don't have Senate support (AFR)
-Interesting analysis on the proposed company tax cuts to business with a turnover of $50 million dollars

Inflation is set to remain lower for longer with new CPI calculation (AFR)
-More discussion on the impact of the CPI tweak

Why Australia shouldn't fear a wave of trade protectionism (The Conversation)
-A different outlook on trade protectionism.

Victoria Australia's top state economy, but NSW the real winner (The Age)
- A nice overview of the state's economic state in Australia. It helps understand certain policies on the Federal level as well as how changes in Monetary Policy can have a positive & negative effect on the Australian economy.
Also another win for the VCE squad being better then the HSCers. They just can't seem to catch a break This is a joke. Okay. A JOKE!!!!!

Vital Signs: Australia's mining boom transition is on shaky ground (The Conversation)
-Thoughts on the transition in the Australian economy to a "service-based" one from a "mining-based" one

Restaurant industry withdraws cased to put Sunday penalty rates (AFR)
-As the title says.

Jobless rate drops to 5.4 per cent in October, lowest in almost five years(AFR)
-Discussion on the employment statistics in October

Cost cutting hurting workers, and the economy, Reserve Bank says (ABC News)
-RBA's thoughts on how companies are affecting the RBA decision to change interest rates

Young Australians will wear the costs of Turnbull's middle income tax cut (The Conversation)
-A discussion on how Young Australians will be affected by a proposed tax cut for the middle income earner for the next budget or earlier

Vital Signs: five economic red flags to watch for in 2018 (The Conversation)
-Economic events to look for next year

Has spring sprung in the economic garden (The Age)
-A look at the changing economic state of Australia

Meme Tax