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2015 – Issue 1 2015 – Issue 1 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 & Bronwyn Hession (Board of Studies, Teaching and COMPANY SECRETARY: Educational Standards NSW) DIRECTORS: Andrew Athavle (William Carey Christian School) Matthew Bookallil (Knox Grammar School) Joean Borg (Ascham School) Kate Keeley (The University of Sydney) Anna Tsoutsa (Auburn Girls High School) Glenn Walker (Knox Grammar School) Nicholas Ward (Ryde Secondary College) Sarah Wright (Australian Catholic University, Strathfield) 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 1 A call for articles Contents There is always a need for articles President’s Report – Joe Alvaro 5 for The EBE Journal. Articles are invited from teachers EBE NSW News 8 in schools and academics in universities. Economics and Business News Bites Contributing to the journal is one Compiled by Joe Alvaro, Marist College North Shore 18 way to demonstrate the Australian professional teaching standards Legal News Bites at any of the four career stages – Graduate, Proficient, Highly Compiled by Joe Alvaro, Marist College North Shore 22 Accomplished or Lead. It is also an effective way to engage in Case Study: professional dialogue and sharing Marketing at Skydive the Beach and Beyond with other teachers. Courtney Butler, Assistant Chief Operating Officer 27 All sources are acknowledged and copies of published articles can be Active Reading in Business Studies attached to your C.V. Patricia Smith, Monte Sant’ Angelo Mercy College, North Sydney 38 ALL ARTICLES AND/OR ENQUIRIES SHOULD BE DIRECTED TO: The Impact of Income and Trade on the Environment The Editor Dr Ying Liu, S P Jain School of Global Management 43 Economics and Business Educators NSW 3B Smalls Road Ryde NSW 2112 Nurturing entrepreneurship and financial literacy Phone: (02) 9886 7786 – The $20 Boss Fax: (02) 9886 7673 Georgie Swan, Foundation for Young Australians 47 Email: [email protected] Articles may be emailed with text 20 Common Grammar & Spelling Errors double spaced and proof read. in Student Written Responses Please ensure that all tables, Joe Alvaro, Marist College North Shore 48 diagrams and figures included with your paper are of a suitable quality Excursion to Maitland Gaol – Reflection and Worksheet for reproduction. Mandy-Jane Doyle, Brigidine College, St Ives 51 The EBE Journal – Journal of the Economics and Business Educators NSW 2015 – Issue 1 3 Experiential Learning in Stage 5 Commerce: Running a Business and Promoting & Selling Glenn Walker, Knox Grammar School 56 Cornell Note Taking Applied To Business Studies & Commerce Nick Gliddon, Knox Grammar School 69 A Greek Tragedy? John Lodewijks, S P Jain School of Global Management 72 Australian International School Teacher Profile – Ms Carmen Fitzpatrick 76 ASX Schools Sharemarket Game 1, 2015 – Volatile markets make a tough Game Amanda Mior, ASX Sharemarket Game Coordinator 79 Winner – Angus Wither, Wesley College, South Perth, WA 2014 Division 1 (Individual) Australasian CPA Plan Your Own Enterprise Competition 80 4 The EBE Journal – Journal of the Economics and Business Educators NSW 2015 – Issue 1 President’s Report by Joe Alvaro, Marist College North Sydney Welcome to Issue 1 (2015) of The EBE Journal - Journal of the Economics and Business Educators NSW. There is lots of material to read and use in this edition, including articles that will increase your understanding of Economics, Business Studies, Legal Studies and Commerce and articles about how to teach these subjects to teenagers. EBE NSW Strategic Plan 2015 – 2017 2015 CPA Plan Your Own Enterprise The EBE NSW Board of Directors have produced Competition and approved a Strategic Plan for 2015 – 2017. Thank you to all teachers who submitted business plans from their students for this year’s It is built around three “strategic pillars” – competition. Judging is now underway. We professional growth, networking and advocacy. look forward to the NSW awards ceremony on The EBE NSW Board will be using the strategic 7 October 2015 where the NSW winners will be plan to guide its decision making. Please find a announced. The Australasian awards ceremony copy of the strategic plan after this report and on will be held on 14 October 2015 in Melbourne. the EBE NSW website. We have included the winning 2014 Division New EBE NSW Board Members 1 (Individual) Australasian CPA PYOE business plan (Life Housekeeping by Angus Wither) and Two new teachers have joined the EBE NSW the comments from the judges in this edition Board of Directors. At the EBE Board of Directors of the journal. If you have not incorporated meeting on 15 June 2015, Ms Joean Borg was the PYOE competition into your lessons yet, I elected to fill a vacant Director position on encourage you to plan to have your students the EBE NSW Board. Joean teaches at Ascham experience the competition in 2016. School. At the EBE Board of Directors meeting on 27 July 2015, Mr Glenn Walker was elected to fill 2015 (Game 1) ASX Schools a vacant Director position on the EBE NSW Board. Sharemarket Game Glenn teaches at Knox Grammar School. We welcome Joean and Glenn to the EBE NSW Board. Congratulations to the national winner of Game 1 of the 2015 ASX Schools Sharemarket Game, 2015 EBE NSW Annual Conference Niels Lange, from Girton Grammar School. We also congratulate the NSW/ACT 1st place and The 2015 EBE NSW Annual Conference annual national 3rd place winner, Roger Wu, from conference this year was an outstanding success, Sydney Boys High. Niels and Roger share their with teachers gathering together to increase Game strategies in this edition of the journal. their understanding of the subject matter Congratulations Niels and Roger! we deal with and learn more about how to effectively teach the subject matter to teenagers. 2015 Board of Studies, Teaching and Teachers were able to network with each other Educational Standards NSW HSC and gather resources to take back to their school Business Studies, Economics and and classroom. There is a report about the annual Legal Studies Examinations conference in this edition of the journal, as well as reports on some of the other professional EBE NSW wishes all your Business Studies, development events we have held this year. Economics and Legal Studies students every Planning for next year’s conference has begun success for their upcoming 2015 HSC external and it will be held on Friday 20th May 2016 at Club examinations. EBE NSW welcomes feedback Burwood RSL. from members about the 2015 BOSTES NSW The EBE Journal – Journal of the Economics and Business Educators NSW 2015 – Issue 1 5 President’s report HSC Business Studies, Economics and Legal Australian Professional Standards for Teachers Studies examinations. What did you think? Any at any of the four career stages – Graduate, problems? Strengths? Please email feedback to Proficient, Highly Accomplished or Lead. It is [email protected] also an effective way to engage in professional dialogue and sharing with other teachers. Thank EBE NSW International Teacher Profile you to everyone who has contributed to this edition of the journal.C In this edition of the journal we include another profile on an Australian teacher who has gone EBE NSW Helpdesk out of their comfort zone to teach in a school As always EBE NSW Directors are available to outside of Australia. Thank you to Ms Carmen members for advice and assistance (helpdesk@ Fitzpatrick, from the Australian International ebe.nsw.edu.au) in relation to the teaching School, Saigon, who was interviewed for this and learning of Business Studies, Commerce, edition of the journal. Economics and Legal Studies. Contributions to “The EBE Journal” I hope you enjoy this edition of the journal and that the content provides you with useful All members are invited to submit an article professional reading and contributes to your for publication in “The EBE Journal” (please professional development.
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