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2015 – Issue 2 Journal of the Economics and Business Educators New South Wales Economics and Business Educators NSW Board of Directors PRESIDENT: Joe Alvaro, (Marist College North Shore, Board Member/NSW Councillor – Business Educators Australasia, Board Member/ Secretary – Professional Teachers’ Council NSW) VICE PRESIDENTS: Cheryl Brennan (Illawarra Christian School, Board Member – Professional Teachers’ Council NSW) Kate Dally (Birrong Girls High School) TREASURER: Glenn Walker (Knox Grammar School) COMPANY SECRETARY: Vacant DIRECTORS: Andrew Athavle (William Carey Christian School) Greg Hannelly (St Edward’s College) Bronwyn Hession (Board of Studies, Teaching and Educational Standards NSW) Kate Keeley (The University of Sydney) Mai Ni Pham (Young High School) Anna Tsoutsa (Auburn Girls High School) Nicholas Ward (Ryde Secondary College) EDITOR: Matthew Bookallil DESKTOP PUBLISHING: Jill Sillar, Professional Teachers’ Council NSW PUBLISHED BY: Economics & Business Educators NSW ABN 29 002 677 750 ISSN 1488-3696 3B Smalls Road, Ryde NSW 2112 Telephone: (02) 9886 7786 Fax: (02) 9886 7673 Email: [email protected] Website: www.ebe.nsw.edu.au “THE EBE JOURNAL” / “ECONOMICS” is indexed APAIS: Australian Public Affairs Information Service produced by the National Library of Australia in both online and CD-ROM format. Access to APAIS is now available via database subscription from: RMIT Publishing / INFORMIT – PO Box 12058 A’Beckett Street, Melbourne 8006; Tel. (03) 9925 8100; http://www.rmitpublishing.com.au; Email: [email protected]. The phone for APAIS information is (02) 625 1650; the phone for printed APAIS is (02) 625 1560. Information about APAIS is also available via the National Library website at: http//www.nla.gov.au/apais/index.html The ISSN assigned to The EBE Journal is 1834-1780. The views expressed in these articles are not necessarily those of the editor or the association. All articles published are done so in good faith and without prejudice. All contributions are received in good faith by the editors as original contributions of authors, and to the knowledge of the editor there has been no breach of copyright by the publication of any articles, diagrams or figures in the Journal. If due to the failure of an author to correctly inform that his/her work is not an original work and there is a breach of copyright, the editors, having no prior knowledge, cannot accept responsibility. Any books recommended by any authors of articles and internet sites in the Journal are not the recommendation of the Economics & Business Educators NSW. 2 The EBE Journal – Journal of the Economics and Business Educators NSW 2015 – Issue 1 The Journal JOURNAL OF THE ECONOMICS AND BUSINESS EDUCATORS NEW SOUTH WALES 2015 – Issue 2 A call for articles Contents There is always a need for articles President’s Report 5 for The EBE Journal. EBE NSW News 8 Articles are invited from teachers in schools and academics in Economics and Business News Bites universities. Compiled by Joe Alvaro 21 Contributing to the journal is one way to demonstrate the Australian Legal News Bites professional teaching standards Compiled by Joe Alvaro 23 at any of the four career stages – Graduate, Proficient, Highly CommBank – Teaching Awards 2015 Accomplished or Lead. It is also Bronwyn Hession, Director EBE NSW 24 an effective way to engage in professional dialogue and sharing Improving extended response writing in Stage Five with other teachers. Commerce using ALARM. Written by Nick Ward All sources are acknowledged and (Ryde Secondary College) and reviewed by: copies of published articles can be Max Woods (Freshwater Senior Campus) 26 attached to your C.V. Protection and its Impact on the Australian ALL ARTICLES AND/OR ENQUIRIES Automobile Industry by Duc Nguyen and Tony Stokes, SHOULD BE DIRECTED TO: Australian Catholic University 31 The Editor Economics and Business ASX Schools Sharemarket Game 2 2015 Educators NSW Amanda Mior, ASX Sharemarket Game Coordinator 38 3B Smalls Road Ryde NSW 2112 Phone: (02) 9886 7786 Barry Collier Diversifies! Fax: (02) 9886 7673 Song of the Headmaster: Then & Now Email: [email protected] (with apologies to C J Dennis) 39 Articles may be emailed with text double spaced and proof read. An Overview of the State of the Australian Economy Please ensure that all tables, in 2015 by Dr Anthony Stokes and Dr Sarah Wright 41 diagrams and figures included with your paper are of a suitable quality The importance of enterprise skills to prepare for reproduction. students for the new work order Georgie Swan, Foundation for Young Australians 47 The EBE Journal – Journal of the Economics and Business Educators NSW 2015 – Issue 2 3 Maximise student performance by teaching students how to deliver quality self and peer feedback by Matthew Bookallil, Director – EBE 2015 52 Commerce Assessment Task – Personal Finance Topic and Investing Topic by the Commerce Department, Knox Grammar School 56 How many students studied HSC Economics, HSC Business Studies and HSC Legal Studies in 2015? by Joe Alvaro, Marist College North Shore 63 Report on EBE NSW Field Trip for Teachers – CHOICE Lab and Testing Facility Guided Tour – 23 September 2015 by Christopher Sassine, Northern Beaches Christian School 65 President’s Report to the 2015 Economics and Business Educators NSW Annual General Meeting (7 December 2015) 66 Economics and Business Educators NSW Financial Statements for the Year Ended 30 June 2015 74 4 The EBE Journal – Journal of the Economics and Business Educators NSW 2015 – Issue 2 President’s Report by Joe Alvaro, Marist College North Shore Welcome to Issue 2 (2015) of The EBE Journal – Journal of the Economics and Business Educators NSW. I hope you will be able to engage in some professional reading and some professional growth through the journal. Thank you to Matthew Bookallil for all his work on this edition of the journal through his role as Editor. 2015 EBE NSW Annual General EBE NSW Board from rural and remote areas Meeting of NSW. Farewell and thank you to Matthew Bookallil from Knox Grammar School who has As a result of the elections held as part of the served on the EBE Board of Directors over the EBE NSW Annual General Meeting on last year. We have a diverse Board for 2015/2016 1 December 2015, the Board of Directors for consisting of outstanding educators in the areas 2015/2016 are: of Economics, Business Studies, Legal Studies President: Mr Joe Alvaro and Commerce from government and non- (Marist College North Shore) government schools, a teacher educator and an educator from the Board of Studies, Teaching Vice President: Ms Cheryl Brennan and Educational Standards NSW, to keep the (Illawarra Christian School) association moving forward for another year. Vice President: Ms Kate Dally There are some vacancies on the Board. If you (Birrong Girls High School) are interested please contact EBE NSW. The Board of Directors meet twice during each Treasurer: Mr Glenn Walker school term. If you have any questions and/or (Knox Grammar School) suggestions that you would like the Board to Director: Mr Andrew Athavle consider, please email [email protected] (William Carey Christian School) Director: Mr Greg Hannelly 2015 EBE NSW CPA Plan Your (St Edward’s College) Own Enterprise Competition Director: Ms Bronwyn Hession NSW Awards Ceremony (Board of Studies, Teaching and EBE NSW recognized the Plan Your Own Educational Standards NSW) Enterprise ( PYOE) NSW winners at the annual NSW awards ceremony on 7 October 2015 at Director: Ms Kate Keeley the Sydney office of CPA Australia together (The University of Sydney) with Ms Julie Chessman, Senior Relationship Director: Ms Mai Ni Pham Manager, NSW, CPA Australia. At the ceremony, (Young High School) prizes and certificates were awarded to the Director: Ms Anna Tsoutsa NSW student winners and their schools. Parents (Auburn Girls High School) were in attendance as well to celebrate the success of their child, as well as teachers. The Director: Mr Nicholas Ward 2015 CPA PYOE national awards ceremony was (Ryde Secondary College) held on 14 October 2015 in Melbourne. Thank The President’s Report to the 2015 EBE NSW you to EBE NSW Director, Nicholas Ward, for AGM and the EBE NSW Financial Statements taking on the role of PYOE NSW Coordinator for the year ended 30 June 2015 have been this year and for all his time and effort in included in this edition of the journal. ensuring the competition in NSW was a success. Congratulations to all the winners. Full details Welcome to our new Board members, Greg about this year’s competition can be found in Hannelly and Mai Ni Pham, who come to the this edition of the journal. The EBE Journal – Journal of the Economics and Business Educators NSW 2015 – Issue 2 5 President’s report Commonwealth Bank 2015 the outstanding achievements of organisations Teaching Awards Ceremony and individuals working to improve Australians’ financial literacy. On 30 September 2015 I represented EBE NSW at the Commonwealth Bank 2015 Teaching I commend the Highly Commended Award Awards Ceremony at Doltone House, Jones Bay for a small financial literacy program which Wharf, Pyrmont Point NSW. The Commonwealth was received by Horizon Credit Union. Their Bank Teaching Awards recognise and reward program, “Two Bob Billabong and Savings teachers from schools across Australia who Squad”, delivered nineteen fully produced, are making an outstanding contribution to live theatre performances in 10 schools along developing the essential financial literacy skills the South Coast of NSW reaching close to of their students. This year more than 230 4,000 children. The 25-minute performance, applications from teachers of Kindergarten to called “Showdown at Two Bob Billabong”, was Year 12 students from all over Australia were delivered live into schools by two professional received. There were 15 awards presented – actors using comedy and an exciting adventure $10,000 each for 15 schools to invest in their story to teach students all about money, the financial learning programs.
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  • Ministerial Media Release

    Ministerial Media Release

    Melinda Pavey Minister for Water, Property & Housing MEDIA RELEASE Wednesday, 20 May, 2020 RECYCLED WATER A WIN-WIN FOR STEEL INDUSTRY AND COMMUNITY IN 10-YEAR DEAL The future of steel manufacturing in Australia has received a welcome boost with a new 10- year water supply contract between Sydney Water and BlueScope Steel helping secure jobs in the Illawarra while protecting the local water supply. Sydney Water will supply up to 20 megalitres of recycled water daily from the Wollongong Water Recycling Plant to BlueScope’s Port Kembla Steelworks Minister for Water, Property and Housing Melinda Pavey says the manufacturing industry is part of the backbone of the Illawarra economy and this Government is proud to do all we can to support it. “This agreement not only supports local jobs it also helps safeguard our valuable water supply. To put that in context, 20 megalitres a day represents 20 per cent of the daily demand on Avon Dam, which is the main water supply for Wollongong and the Illawarra,” Mrs Pavey said. “That means we’re significantly reducing demand on the local water supply, ensuring we’ve got a resilient water network to support us now and into the future.” Sydney Water Managing Director Roch Cheroux says, “Sydney Water supplied its first drop of recycled water to BlueScope back in 2006 and has continued to deliver the critical resource ever since. “The new contract ensures we can continue to deliver a sustainable and affordable water supply for a further 10 years, helping create world-class steel products right here in our own backyard, keeping this valuable industry sustainable for the future.” “Over the next two decades, Sydney Water plans to double the amount of recycled water we can produce to support businesses like BlueScope well into the future and we encourage businesses to look at the benefits of using recycled water BlueScope’s Chief Executive, Australian Steel Products, John Nowlan says they were proud to extend their partnership with Sydney Water for another decade.