The EBE Journal
JOURNAL OF THE ECONOMICS AND BUSINESS EUCATORS NEW SOUTH WALES
Commerce Business Studies Economics Legal Studies Resources Reviews
2008, No. 1
1 BY SUBSCRIPTION REGISTRATION NBY AUSTRALIAN POST PUBLICATION NUMBER NBP 1944 the ebe journal
JOURNAL OF THE ECONOMICS AND BUSINESS EDUCATORS NEW SOUTH WALES
2008 Journal 1 please note Contents Presidents’ Report 4 Bronwyn Hession, Director, Senior Education Officer – Contributors are reminded Office of the Director, Catholic Schools Office, that papers submitted to the Diocese of Broken Bay & EBE President Editor should be supplied as EBE’s Financial Statements hard copy as well as on disk 6 or by email. ECONOMICS Hard copies must be laser State of the Economy 23 quality print‐outs, double Ross Gittins, Economics Editor, spaced and preferably on A4 Sydney Morning Herald paper. Please ensure that all Case Study – Globalisation 25 graphics (tables, diagrams, Impact of globalisation in Singapore illustrations, etc.) included Kerry Newman, Senior Economics Teacher in the paper are of suitable North Sydney Girls High School quality for reproduction. The business of teaching 30 Business Educators Australasia (BEA) Conference The disk copy should be 9 – 11 July 2008 provided, preferably in Word format, or saved as a BUSINESS STUDIES text file. If the file includes Interactive Whiteboards 32 graphics (tables, diagrams, Using the interactive whiteboard as a revision tool in Business illustrations, etc.) created in Studies another application, please Accreditation for professional competence 35 also supply disk copies of Kim Jackson, Principal, Killarney Heights High School the original graphics files. COMMERCE Integrating consumer and financial literacy across the curriculum from primary to year 10 39
LEGAL STUDIES Twelve tricky questions about government elections and voting 46 that could be asked in your classrooms Joe Alvaro, All Saints Catholic Senior College
2 PRESIDENT:
Ms Bronwyn Hession
VICE PRESIDENTS: Ms Lyn Kirkby Ms Kate Dally
TREASURER: Mr John Nairn
COMPANY SECRETARY: Ms Gae York
DIRECTORS: Mr Joe Alvaro Ms Betsy Harvey Ms Bernadette Henry Mr Michael Peters Mr Gavin Russell Mr Andrew Skehan Ms Rhonda Thompson
EDITOR: Ms Anne Layman
DESKTOP PUBLISHING: Ms Gay-Louise Purchase
PUBLISHED BY: Economics & Business Educators NSW ABN 29 002 677 750
ISSN 1488-3696
PO Box 67 Leichhardt NSW 2040 Phone: (02) 9564 5007 Fax: (02) 9564 5309 Mobile: 0411 118284 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) 99258100; http://www,rmitpublishing.com.au; email: [email protected].
The phone for APAIS information is (02) 626 1650; the phone for printed APAIS is (02) 626 1560,
Information about APAIS is also available via the National Library web site at: http//www.nia.gov.a/apais/index.html.
The ISSN assigned to 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 editor 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 magazine. 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 this Journal are not the recommendations of the Economics & Business Educators NSW.
3
report president’s report president’s report
007 has been both a year of significant The 2007 Lesson Study project, lead by Anne challenge and of significant progress for Layman was also a major exercise of 2007, 2EBE NSW. The achievements of the year involving the commitment of a number of build upon the work of recent years and the dedicated teachers on a quest to investigate, leadership of the Board and in particular the reflect on and share their practice and their executive over those years. learning. A major report on the project and its findings has been provided to DEST and will be With both state and federal elections in 2007, the subject of ongoing work in 2008. education has been dominant in media deliberations throughout the year. Discussions Professional learning and professional practice have emphasised the call for greater national remain at the heart of the work of EBE. After the consistency in curriculum and assessment in submission of a detailed proposal and sample school education. As the year draws to a close an professional development materials, EBE NSW Australian Certificate of Education is still on the was accredited by the NSW Institute of Teachers agenda and Economics and Business education in 2007 as an endorsed provider of professional are represented in a draft blueprint for national development. This means that teachers seeking curriculum. Financial literacy and the accreditation through the Institute can include Commonwealth Treasury initiatives in school their attendance at EBE professional education have found their way into AGQTP development courses towards their required planning for 2008. These issues were Institute endorsed professional development represented in EBE’s annual conference in May requirements. This endorsement, through the 2007. umbrella PTC endorsement, will also facilitate effective collaboration between EBE and other The role of professional associations as key professional associations including the Legal stakeholders in the education debate has been Studies Association and the Geography Teachers strengthened in recent years. In NSW a Association. revitalised Professional Teachers’ Council and at the national level greater participation of Business The 2007 Professional Development program Educators Australasia in national deliberations sought again to meet needs and respond to the have been part of this change. EBE has interests of members. New scheme teachers contributed more significantly to state and were targeted again as were teachers involved in national discussions in 2007 than in previous teaching HSC courses in Business Studies, years and this important role and responsibility Economics and Legal Studies for the first time. will continue to grow in 2008. The Annual Conference was moved to May because of the NSW government election in The EBE website, www.ebe.nsw.edu.au which March. The program included a leadership stream was launched at our annual conference is a key for HSIE Coordinators and those aspiring to achievement for 2007. The website now is the leadership positions. There is continued interest key communication tool for teachers and further in this area. Financial Literacy was also targeted enhancements are planned for 2008. We are as a main theme and we are grateful for the indebted to Rhonda Thompson for her expertise generous sponsorship of Quicken for both the and commitment in this area. conference and our other activities. Whilst the conference was well attended generally, the attendance by teachers from regional areas was 4 less than hoped for. This has reduced EBE’s • Ongoing feedback from the EBE Board to ability to support regional networks of Economics Teaching Australia and NSW Institute of and Business Studies teachers through the Teachers initiatives regional conference program. The AGQTP funds Looking ahead, there are several emerging that EBE successfully tendered for again in 2007 priorities that will require EBE’s energy and gave teachers from these regions an opportunity commitment: to attend the annual conference at a reduced cost. 1. The development at national level of professional standards for teachers of A draft 2008 professional development plan can Economics and Business Studies be accessed from EBE’S website. A new initiative 2. The revision of the NSW Stage 6 Business Studies syllabus by the Board of Studies is responding to the needs of 7 – 10 Commerce 3. The release of a national professional teachers with a one day program that includes a development strategy for teachers of focus on using technology. Consumer and Financial Literacy 4. The accreditation of NSW teachers for Despite best efforts of many at the end of 2006, professional accomplishment and the administration of the EBE office has continued leadership. to frustrate the efforts of the Board during 2007. In addition we will strive to continue to strengthen This has impacted adversely on our capacity to the membership base of our association. deliver quality and timely service to our members. Individual membership grew by 45% in 2007. Our recruitment of a part-time office administrator Consolidating our partnerships and seeking new at the end of 2006 was short lived and the office sponsorship opportunities continue to be ongoing has limped along during 2007. Annette Davies challenges. has once again kept the ship afloat and for this we are very grateful. We also very much In conclusion I wish to acknowledge and express appreciate the work of Alan Hearle who has my sincere appreciation to the EBE Board, the supported Annette as the Board seek again to executive and Annette Davies for their continued recruit an administrator. A significant milestone in commitment to EBE NSW, their hard work over 2007 has been the MYOB project and a many hours and for their invaluable support both commitment to ensure that maximum efficiency is personally and professionally. 2007 is a year that gained from the system. Under the leadership of we can look back on with great satisfaction. 2008 our secretary Gae York, Directors undertook a is a year we look forward to, with new challenges major exercise in reorganising the EBE office and and opportunities. implementing a new information management Bronwyn Hession and record keeping system. This work will continue in 2008. PRESIDENT
October 22, 2007.
Other activities in 2007 included:
• 2007 PYOE Competition, with an increase in entries again in 2007 • The revision of the Yellow Book of Business Studies terms • Publication of the EBE journal, edited and coordinated by Anne Layman • The revision of the Red Book – activities for Economics and Business Studies ( to be launched at the 2008 Annual Conference)
5
report Financial Statements
ECONOMICS AND BUSINESS EDUCATORS NSW
A.C.N. 002 677 750
(A Company Limited by Guarantee)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30TH JUNE, 2007
HARLEY, RUSSELL & DAY Chartered Accountants 2/172 Liverpool Road ENFIELD NSW 2136 Phone: (02) 9744 6922 Fax: (02) 9744 6747
6
ECONOMICS AND BUSINESS EDUCATORS NSW
A.C.N. 002 677 750
(A Company Limited by Guarantee)
CONTENTS
Directors’ Report
Auditor’s Independent Declaration
Directors’ Declaration
Auditor’s Report
Statement of Financial Position
Disclaimer
Trading Statement
Revenue& Expense Account
Notes to the Accounts
7
ECONOMICS AND BUSINESS EDUCATORS NSW
A.C.N. 002 677 750
(A Company Limited by Guarantee)
DIRECTORS’ REPORT
Your Directors present their report on the accounts of the Company for the year ended 30th June, 2007.
NAME OF DIRECTORS
The names of Directors in Office at any time during the year and up to the date of this report are:‐
John Nairn Ian Biddle Aesh Rao
Michael Peters Wayne Sheridan Michael Horsley
Kate Dally Heather Brown Lyn Kirkby
Rhonda Thompson Betsy Harvey Andrew Skehan
Bronwyn Hession Anne Layman Gae York
Glen Wines Gavin Russell
PRINCIPAL ACTIVITIES
The principal activities of the Association during the period were to operate as a professional association of teachers and provide teaching materials for use by the teachers and students.
MEMBERS 2007 2006
Complimentary 20 20
Corporation 4 3
Individual 94 62
Individual – Rural & Remote 29 27
Life 10 10
School 204 210
Student/Retiree 5 12
366 344 8
SIGNIFICANT CHANGES
During the period there was no significant change in the nature of the principal activities of the Association.
TRADING RESULTS
The profit from operation for the period (after no Provision for Income Tax and no depreciation) amounted to
$16,016, (2006: $ 3,832).
REVIEW OF OPERATIONS
Movements in significant items of Revenue are as follows:‐
2007 2006 Increase/(Decrease) Percentage
Sales 8,630 12,206 (3576) (29.3%)
Subscriptions 35,151 33,693 1458 4.4%
Operating Expenses 106,684 83,754 22,930 27.4%
CHANGE IN STATE OF AFFAIRS
The Association’s Balance Sheet discloses members’ equity of $23,365 (2006: $7,349).
DIRECTORS’ INTEREST
The Association does not have a Share Capital nor does it have any related corporations, hence no Director has an interest required to be declared by Section 307(c).
AUDITORS
Harley, Russell & Day, Chartered Accountants, continues in the office in accordance with Section 327 3(b) of the Corporations Law.
ENVIRONMENTAL REGULATION
The Company’s operations are subject to various environmental regulations under both Commonwealth and State legislation. The Directors are not aware of any breaches of the legislation during the financial year which are material in nature. 9
EVENTS SUBSEQUENT TO BALANCE DATE There is, as at the date of this report, no matter of circumstances which have arisen since 30th June, 2007, that have significantly affect or may significantly affect:-
(i) the operations of the Company; (ii) the result of those operations; or (iii) the state of affairs of the company, subsequent to 30th June, 2007.
INFORMATION OF DIRECTORS
Name of Directors Occupation Special Board Meetings Apologies Responsibilities Attended
Dr Mike Horsley Associate Professor
School of Education President 3 0 University of Western Sydney (now resigned)
Wayne Sheridan Head Teacher – Social Sciences Company Secretary 0 3
Bossley Park High School (now resigned)
John Nairn HSIE Coordinator Treasurer 10 0
Masada College
Heather Brown Head Teacher – Social Sciences Joint Vice‐President 0 3
Liverpool Girls High School (now resigned)
Lyn Kirkby Co‐ordinator of Social Joint Vice‐President 9 1
Science
Moriah College
Kate Dally Head Teacher‐ Social Sciences Joint Vice‐President 8 2 Birrong Girls High School
Bronwyn Hession Senior Education Officer President 9 1 Policy & Development
NSW Office of the Board of Studies
Michael Peters Part‐Time Law Lecturer Director 4 6
UNSW
Aesh Rao Teacher Director 1 9
PLC Pymble
10
INFORMATION OF DIRECTORS (continued)
Name of Directors Occupation Special Board Meetings Apologies Responsibilities Attended
Ian Biddle Head Teacher – Social Sciences Director 0 3
Jamison High School (now resigned)
Rhonda Thompson HSIE Teacher Director 7 3
St. John Bosco College
Betsy Harvey VET Co‐ordinator Director 8 2 Brigidine College, St. Ives
Anne Layman Director of Studies ‐ Editor 7 3
Senior Curriculum
MLC School
Gae York Social Science Teacher Company Secretary 6 1
Westfield Sports High School
Andrew Skehan Social Science Teacher Director 3 1
Granville South High School
Glen Wines Teacher Director 2 5
Burwood Girls High School (now resigned)
Gavin Russell Social Science Teacher Director 1 0
Moriah College
DIRECTORS’ BENEFITS
Since the end of the previous financial year, no Director has received or become entitled to receive any benefit by reason of a contract between the Association and themselves or with a firm of which they have substantial interest.
INDEMNITY
The Company has not, during or since the financial year, in respect of any person who is or has been an officer or Auditor of the Company or of a related body corporate:
(a) Indemnified or made any relevant agreement for indemnifying against a liability, including costs and expenses in successfully defending legal proceedings; or
(b) Paid or agreed to pay a premium in respect of a contract insuring against a liability for the costs or expenses to defend legal proceedings.
11
LIKELY DEVELOPMENTS
It is intended to continue the Association’s activities on a similar basis to the past financial year, when possible improvements in accordance with the object of the Association will be carried our consistent with a conservative utilisation of available funds.
AUDITORS INDEPENDENT DECLARATION
The Auditor’s Independent Declaration for the year ended 30th June 2007 has been received and can be found on page 6 of this report.
DATED AT LEICHHARDT THIS
12TH DAY OF OCTOBER, 2007
IN ACCORDANCE WITH A
RESOLUTION OF THE DIRECTORS
______
BRONWYN HESSION ‐ PRESIDENT
______
GAE YORK ‐ SECRETARY
12
ECONOMICS AND BUSINESS EDUCATORS NSW
A.C.N. 002 677 750
(A Company Limited by Guarantee)
AUDITOR’S INDEPENDENT DECLARATION
UNDER SECTION 307C OF THE CORPORATIONS ACT 2001
TO THE DIRECTORS OF ECONOMICS AND BUSINESS EDUCATORS NSW
I declare to the best of my knowledge and belief, during the year ended 30th June 2007 there have been:
(i) no contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the audit; and
(ii) no contraventions of any applicable code of professional conduct in relation to the audit.
DATED AT LEICHHARDT ......
THIS 15TH DAY OF HARLEY, RUSSELL & DAY
OCTOBER, 2007 Chartered Accountants
GARRY WILLIAM DAY
Registered Company Auditor
13
ECONOMICS AND BUSINESS EDUCATORS NSW
A.C.N. 002 677 750
(A Company Limited by Guarantee)
DIRECTORS’ DECLARATION
In the opinion of the Directors of Economics and Business Educators NSW‐
1. the attached financial statements and notes are in accordance with the Corporations Act 2001; (a) comply with Accounting Standards and the Corporations Regulations 2001; and
(b) give a true and fair view of the financial position as at 30th June, 2007 and of the performance for the year on that date of the company.
2. in the directors’ opinion there are reasonable grounds to believe that the company will be able to its debts as and when they become due and payable.
DATED AT LEICHHARDT THIS
12TH DAY OF OCTOBER, 2007
IN ACCORDANCE WITH A
RESOLUTION OF THE DIRECTORS
______
BRONWYN HESSION ‐ PRESIDENT
______
GAE YORK ‐ SECRETARY
14
INDEPENDENT AUDITOR’S REPORT
TO THE MEMBERS OF ECONOMICS AND BUSINESS EDUCATORS NSW
A.C.N. 002 677 750
(A Company Limited by Guarantee)
REPORT ON THE FINANCIAL REPORT
We have audited the accompanying financial report of Economics and Business Educators NSW (“the company”) which comprises the balance sheet as at 30 June 2007 and the income statement, statement of changes in equity and cash flow statement for the year ended on that date, a summary of significant accounting policies and other explanatory notes and the directors’ declaration of the entity comprising the company.
DIRECTORS’ RESPONSIBILITY FOR THE FINANCIAL REPORT
The directors of the company are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes establishing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. In Note 1 the directors also state, in accordance with Accounting Standard ASSB 101: “Presentation of Financial Statements”, that compliance with the Australian equivalents to International Financial Reporting Standards (IFRS) ensures that the financial report, comprising the financial statements and notes complies with IFRS.
AUDTORS’ RESPONSIBILITY
Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
INDEPENDENCE
In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001. We confirm that the independence declaration required by the Corporations Act 2001, provided to the directors of Economics and Business Educators NSW would be in the same terms if provided to the directors as at the date of this auditor’s report.
15
INDEPENDENT AUDITOR’S REPORT
TO THE MEMBERS OF ECONOMICS AND BUSINESS EDUCATORS NSW continued
A.C.N. 002 677 750
(A Company Limited by Guarantee)
AUDITOR’S OPINION:
In our opinion: a. the financial report of Economics and Business Educators NSW is in accordance with the Corporations Act 2001, including:
(i) giving a true and fair view of the company’s financial position as at 30 June 2007 and of the performance for the year ended on that date; and
(ii) complying with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Regulations 2001. b. The financial report also complies with International Financial Reporting Standards as disclosed in Note 1.
DATED AT SYDNEY ......
THIS 15TH DAY OF HARLEY, RUSSELL & DAY
OCTOBER, 2007 Chartered Accountants
GARRY WILLIAM DAY
Registered Company Auditor
16
ECONOMICS AND BUSINESS EDUCATORS NSW
A.C.N. 002 677 750
(A Company Limited by Guarantee)
DISCLAIMER
The additional financial data presented on the following three pages consist of the Trading Statement and Revenue and Expenditure Account and are in accordance with the books and records of the Economics and Business Educators NSW, which have been subjected to the auditing procedures applied in our statutory audit of the Company for the year ended 30th June, 2007. It will be appreciated that our statutory audit did not cover all details of the additional financial data. Accordingly, we do not express an opinion on such financial data and no warranty of accuracy or reliability is given.
In accordance with our firm policy, we advise that neither the firm nor any member or employee of the firm undertakes responsibility arising in any way whatsoever to any person (other than the company) in respect of such data, including any errors or omissions therein, arising through negligence or otherwise however caused.
DATED AT SYDNEY ......
THIS 15TH DAY OF HARLEY, RUSSELL & DAY
OCTOBER, 2007 Chartered Accountants
GARRY WILLIAM DAY
Registered Company Auditor
17
ECONOMICS AND BUSINESS EDUCATORS NSW
A.C.N. 002 677 750
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2007
2007 2006
Note 2 ‐ CASH ASSETS
Petty Cash 100 100
Cash at Bank ‐ General Account 26,959 40,026
Cash on Deposit 17,202 16,419
$ 44,261 $ 56,545
Note 3 ‐ RECEIVABLES
Debtors $ 3,787 $ 2,247
Note 4 ‐ OTHER
Prepayment $ 703 $ 798
$ 703 $ 798
Note 5 ‐ PAYABLES
Payables & GST 1,525 3,361
Members Fees in Advance 17,023 16,131
PAYG 927 1,426
Receipts in advance 2,069 2,070
Creditors and accruals 2,944 4,253
Japanese Pilot Advance Funding ‐ 25,000
Superannuation Payable 47 ‐
Reckon Funding 850 ‐
25,386 $ 52,241
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Note 6 ‐ COMPANY LIMITED BY GUARANTEE
The Memorandum of Association provides the liability of members is limited.
The Company is Limited by Guarantee. In the event of the company being wound up the liability of each member (both during the time he/she is a member and within one year afterwards) is limited to one hundred dollars ($100).
Note 7 ‐ PROVISION FOR EMPLOYEE ENTITLEMENTS
Holiday Pay, Sick Leave and Long Service Leave have not been provided on the basis of the relevant state Legislation and Award including all amounts legally payable as at the date of the Balance Sheet and any amounts payable under contingencies provided for in respect of employee termination.
Note 8 ‐ DIRECTORS' EMOLUMENTS
No Emoluments were received by any Director of the Association.
Note 9 ‐ INCOME TAX
Based on the provision of the Income Tax Assessment Act, 1936 (amended) the Company does not face any liability for the current year.
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ECONOMICS AND BUSINESS EDUCATORS NSW
A.C.N. 002 677 750
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2007
Note 10 ‐ AUDITORS' REMUNERATION 2007 2006
Amounts received or due and receivable for audit: $ 2,500 $ 2,500
Note 11 ‐ STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30TH JUNE, 2007
Cash Flow from Operating Activities Notes 2007 2006
Receipts from Customers 96,986 73,518
Payments to Suppliers and Employees (145,326) (72,978)
Interest Received 905 320
Subscriptions Received 35,151 33,693
Net Cash Flow provided by (used in) Operating Activities $ (12,284) $ 34,553
Cash Flow from Investing Activities
Payment for Plant & Equipment ‐ ‐
Net Cash provided by (used in) Investing Activities
Net Increase (Decrease) in Cash Held (12,284) 34,553
Cash at 30th June, 2006 56,545 21,992
Cash at 30th JUNE, 2007 2 $ 44,261 $ 56,545
20
NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30TH JUNE, 2007
1. Reconciliation of Cash
For the purposes of this statement of cash flows, cash includes Cash on Hand and Cash at Bank. Cash at the end of the Financial Year as shown in the Statement of Cash Flows is reconciled to the related items in the Balance Sheet as follows:‐
Cash on Hand 100 100
Cash at Bank 26,959 40,026
Deposits at Bank 17,202 16,419
$ 44,261 $ 56,545
Reconciliation of Net Cash Provided by/(Used in) Operating Activities to Operating Profit
Operating Profit/(Loss) 16,016 3,832
Decrease/(Increase) in Prepayments 95 (32)
Decrease/(Increase) in Receivables 2,804 (1,540)
(Decrease)/Increase in Payables 6,985 (5,096)
(Decrease)/Increase in Members fees in 892 (287) advance
(Decrease)/Increase in other Payables (22,651) 21,252
Net Cash Provided by/(Used in) Operating Activities $ (12,284) $ 34,554
21
s
economic
22
economics State of the economy
The State of the Economy more than 50 years and, second, the longest recorded period of expansion in the economy - 16 by Ross Gittins, Economics Editor, The years and counting - which has taken us close to Sydney Morning Herald full production capacity for the first time in 30 years. September 2007 The resources boom: The resources boom has conomic growth: the economy’s taken our terms of trade to their most favourable production of goods and services (real level since the Korean war wool boom of 1951. E GDP) grew by a rapid 4.3 per cent over The terms of trade have improved by more than the year to June, and if you exclude the effect of 30 per cent in three years. The boom has been the drought, gross non-farm product grew by 5.2 prompted largely by the huge addition to world per cent. demand for resources arising from the rapid Inflation: the CPI rose by 2.1 per cent over the economic development of China. The improved year to June, pushed down by the reversal of terms of trade mean that an unchanged quantity earlier volatile increases. However, measures of of commodity exports now buys a greater quantity underlying inflation are higher, at 2.8 per cent, of imports - which means the nation’s real income with underlying inflation rising by a worrying 0.9 is now higher. But this sudden surge in income per cent during the June quarter. constitutes a major shock to the economy and causes difficulty for the economic managers trying Unemployment: the unemployment rate was 4.3 to keep things on an even keel. So far, however, per cent in July and it’s been below 5 per cent for inflation pressure has been kept in check, partly more than a year, which is the lowest it’s been in because the appreciation of the dollar as 30 years. This is true even if you use broader commodity prices have risen has shifted some of measures of unemployment. the real income from the boom sector to all those parts of the economy that buy imports, including Current account deficit: the one bit of poor imported capital equipment. The boom has also performance is the current account deficit, which meant that some states - Queensland and was $14 billion for the June quarter, or 5.3 pc of Western Australia - have been growing faster GDP. For the year to June, the CAD totalled $59 than others, particularly NSW and Victoria. billion, made up of a trade deficit of $12 billion and a net income deficit of $47 billion. As a The record expansion: Australians got used to consequence of the high CADs over recent years, experiencing recessions about once every seven the foreign debt has been rising strongly as a or eight years. But we are now into our 17th year percentage of GDP. At the end of June the net of continuous growth since the recession of the foreign debt was $544 billion, or 52 pc of GDP. early 1990s. This is the longest expansion phase of the business cycle that we have figures for. Now let’s take a closer look at the state of the During the past 16 completed years of expansion, economy. This is a particularly interesting time to growth in real GDP has averaged a healthy 3.6 be studying the Australian economy because we per cent. This is an excellent performance. But are at the conjunction of two major but unusual almost every good thing that happens in the events: first, the biggest commodities boom in economy also carries disadvantages and the 23 record expansion phase is no exception. The in steps of 0.25 percentage points to reach 6.5 pc drawback is that we are close to running out of - which it judges to be somewhat contractionary. spare production capacity. Businesses are close The most recent tightening was in August 2007. to full capacity and we are fast running out of idle Knowing the economy is travelling so close to full workers, as is borne out by the common capacity, and thus at risk of building inflation complaints from businesses about shortages of pressures, the RBA is watching wage settlements skilled labour. very closely, and has made it clear it will tighten further if it sees any sign of rising inflation. When demand grows faster than the economy’s capacity to supply the goods and services Fiscal policy: officially, FP is conducted demanded, two things are likely to happen: much according to the Government’s medium-term of the excess demand spills over into imports, fiscal strategy: ‘to maintain budget balance, on while the excess demand that can’t be satisfied average, over the course of the economic cycle’. by imports puts upward pressure on prices. This The Howard Government abandoned ‘external is the classic case of ‘demand-pull’ inflation stability’ as a policy objective for FP in the early pressure. At this point in the cycle, the way to 2000s. In recent years it has kept FP running in avoid inflation pressure is for aggregate demand neutral, offsetting the resources-boom fuelled (real GDP) to grow no faster than the economy’s growth in company tax collections with big ‘potential’ rate of growth - the trend rate at which increases in government spending and annual tax production capacity is growing. The economic cuts, so that the planned budget surplus stays managers estimate that the economy’s potential steady at about 1 pc of GDP. This ‘revenue growth rate is 3 to 3.25 per cent a year. This recycling’ and neutering of FP ensures the budget explains why the Reserve Bank is watching puts neither upward nor downward pressure on carefully for signs of any build-up of inflation interest rates, leaving the RBA to adjust the pressure and has already tightened the stance of stance of monetary policy as it thinks fit. monetary policy to somewhat contractionary to ensure demand doesn’t grow too quickly for Microeconomic policy: Whereas supply to keep up. macroeconomic policy seeks to stabilise demand over the short term, microeconomic policy works Monetary policy: MP is conducted by the RBA on the supply side of the economy over the independent of the elected government. It’s the medium to longer term, seeking to raise its primary instrument by which the managers of the productivity, efficiency and flexibility. It does this economy seek to achieve internal balance - low mainly by reducing government intervention in inflation and low unemployment. MP is conducted markets to increase competitive pressure. Since in accordance with the inflation target: to hold the the mid 80s, much microeconomic reform - inflation rate between 2 and 3 per cent, on including floating the dollar, deregulating the average, over the cycle. Primary instrument of MP financial system, reducing protection, reforming is the overnight cash rate, which the RBA controls the tax system, privatising or commercialising via market operations. government-owned businesses and decentralising wage-fixing - has increased Since May 2002 the RBA has been very slowly productivity and made the economy less inflation- raising the official interest rate from the prone. The Howard Government’s latest reforms stimulatory level of 4.25 pc. Over the past five include finishing the privatisation of Telstra and years it has raised the official cash rate nine times introducing Work Choices.
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economics Case Study ‐ Globalisation Case Study ‐ Globalisation The impact of globalisation in Singapore
By Kerry Newman Singapore has adopted a strategy of open trade with minimal tariff barriers. Almost 99% of imports Senior Economics Teacher, North Sydney are duty free. Low tariff barriers have helped with Girls High School the development of export markets. It has also entered into a number of trade agreements over Reviewed August 2007 the years to bolster its ties within and beyond the Singapore, a former British colony, is located in region. E.g. ASEAN (1967) & SAFTA (2002). It is South East Asia. This is a small island nation hoped that such agreements will expand trade which boasts few natural resources and has a and investment flows & raise the nation’s profile small population. Only 5% of the land area is as a regional centre for business. forested & just 4% is arable. The population in The government of Singapore has been 2007 was 4.4 million.1 Its proximity to the major promoting the nation as a financial services hub trading routes between east and west has in recent years. Investments held by portfolio enabled it to establish itself as an important trade managers in the city state rose 24% in 2006, a centre. testament to the success of this policy in Globalisation is characterized by increased trade promoting the island state as a foreign investment and investment links, the transfer of technology destination. Employment growth in the financial and ideas and the movement of labour. services sector was strong in 2006. Singapore’s growth has been powered by strong It is a market economy which is both open and growth in exports and high levels of foreign competitive. In 1965, at the time of independence, investment. About 66% of investment in it was largely undeveloped. It experienced rapid Singapore is foreign investment. economic growth over a 30 year period & in 1995 There are more than 600 TNCs operating out of the OECD reclassified Singapore from a newly Singapore. It was recognized that TNCs could industrialized to an advanced industrialized th play a key role in facilitating rapid economic economy. It is the 4 largest economy in South growth. They could provide capital, technology East Asia. By 2006 the nation had an average and technical expertise that it would otherwise income per capita of $US 30 900 p.a.* (Time take many years to develop. article –June 2007) Most of its GDP is now derived from its secondary and tertiary industries. In 2007 68% of the labour force was employed in the services sector.As 1 In 2003 Singapore had 3.2 million citizens and 800 000 foreign citizens. It has a flagging birthrate & an ageing Singapore lacked natural advantages it needed to population so is trying to encourage higher levels of develop comparative advantage in high value migration with the goal of boosting the population to 6.5 added production.e.g. transportation, precision million over the next few decades. This would mean almost instruments, electronics & petroleum refining. In doubling the current expat population of 875 400. Source – Time June 2007 p 40 1995 electronics made up 54% of exports and by 25
2002 -03 this had risen to around 60% of non-oil Singapore and of the 50 most profitable domestic exports. enterprises in the country, 13 were GLCs. For example Singapore Airlines, Telecom. In 1998 the The government of Singapore, under the top 22 GLCs accounted for 13% of the island’s authoritarian leadership of Lee Kuan Yew, GDP. They employed around 10% of the pursued interventionist policies to promote workforce and were present in virtually all sectors growth. There have been only 3 leaders of of the economy. For example in food processing, Singapore since its independence. petrochemicals, shipyards, transportation, tourism The economic system in operation here is one of and retailing. indicative planning. The government of Singapore There were retrenchments in state controlled can claim to be the only country in South East enterprises, like the Singapore Port Authority, in Asia with a development model like that of Japan the recession of 2001. In 2003 it was announced & South Korea. They also operate under a that the civil service & state run companies would system of indicative planning. hand over many of their functions to the private The government of Singapore gave high priority sector. to developing the island’s infrastructure. This was A strategy to raise educational standards was to create a favourable environment for business also pursued by the government of Singapore. and to attract foreign investment. The government This was acknowledged as a significant pursues an open door policy towards foreign contributor to the rapid growth and development investors, imposing very few restrictions on the of this Asian nation. The substantial investment in level of capital participation, management control the nation’s infrastructure has created an or sector activity. It offers tax incentives or investment friendly environment with low cost concessions to high tech companies which has transport, communications & electricity and a well facilitated the transfer of technology. Singapore educated workforce. The government is now provides an example of how a government’s investing heavily in a technology based interventionist policies, combined with the curriculum in order to prepare students for a high encouragement of development led by foreign tech workplace. This will enable them to investment, can help create a competitive and participate more fully in the global marketplace. prosperous economy. The government has exercised strong control It has established itself as a major trading nation over labour unions to maintain their initial by exploiting its strategic position along the busy advantage of low cost labour. They outlawed shipping lanes of the Malacca Straits. This is its independent labour unions and experienced main spatial resource and it has sought to minimal labour disruption. capitalize on this by continually upgrading its port facilities. It was the world’s 2nd busiest harbour by Labour shortages in the 1990s contributed to 1979. In recent years Singapore’s port began to wage rises. Singapore wants to cut its labour bill. face competition from ports elsewhere in South A study completed in recent years indicated that East Asia as its labour costs rose. Singapore had the 4th highest wages in the world. They were higher than wages in the US or An advanced shipping system has been operating Australia. Wage costs here account for about in Singapore for more than a decade. It has 40% of business costs. The rise in wages has reduced unloading times from 48 hours to just 6. encouraged low cost manufacturing concerns to Clearance times for unloaded cargo fell from 72 move to China & India. The government is hours to 15 minutes. The computerized Trade net anxious to reverse this trend. It has reduced the system was able to eliminate time-consuming amount that employers must direct to the Central paperwork. Provident Fund. The Japanese TNC, Matsushita, Up until more recent years there were around says that this policy change will save about 500 1000 Government Linked Companies (GLCs) in jobs as it will no longer need to relocate to China. 26
In 1998, the level of saving in Singapore was Telecommunications links have been upgraded to equal to 51% of GDP. This was the highest level ensure that this nation is well placed to meet the in the world. The government has promoted a needs of the global business community. There is high level of saving by making it compulsory for a move away from manufacturing4 as the nation workers to set aside a significant proportion of seeks to establish itself as an administrative their income for superannuation. These funds go centre. The government offers tax breaks and into the Central Provident Fund which was set up reasonably priced office space as investment in 1955. Employers have to match this. In August incentives for foreign firms. 2003 the government announced radical changes to the CPF. The contributions have been cut by It must meet the challenge to broaden its export more than 3 percentage points & are down to base with more service and knowledge based 33%. industries to offset the decline in key areas, like port activity. Singapore is well placed to meet the The high level of savings has made it possible for needs of the global business community because Singapore to experience a high level of home of its sophisticated telecommunications ownership & capital accumulation. Financial infrastructure. In 2007 the World Bank and the markets have played a vital role in the nation’s International Finance Corporation voted economic success. Singapore the most business-friendly economy.
The impact of globalisation is readily evident in The environmental impact of all developments is Singapore. Trade has grown 3 times faster than assessed by the pollution Control Dept. before the nation’s GDP. It has a very high level of trade developments are allowed to proceed. The PCD dependency.2 The total value of imports in 1996 tries to ensure that health risks & pollution was equal to 14.2% of GDP. Approximately 40% problems will be minimized. For example, of imports are re-exported. For example, water is industrial waste water must be treated to imported from Malaysia, processed and re- specified standards before being discharged into exported. the sewer/water reticulation system. Loads which exceed the allowable standard must pay a tariff This high level of trade dependency makes the before discharging into public sewers. The nation more vulnerable to variations in the level of Environmental Pollution Control Act came into global activity. It is dependent on exports of operation 1.4.99. It consolidated the previous 3 electronics, pharmaceuticals, shipping and statutes on air, water, noise pollution and financial services. These have all been prone to hazardous substance control. sharp swings in demand. For example the US market drives almost 20% of the island’s exports Sustained periods of economic growth have and US demand appears to be getting diverted to enabled Singapore to experience growth plus China. development. Between 1996 – 2000, the real growth rate averaged 6.3%. The process of globalisation has been facilitated here by the development of new transport and In 2001 it experienced its worst recession in 37 communication technologies. The government years. The outbreak of SARS in 2003 contributed has a national IT plan and it believes that its IT to subdued economic activity in 20035 but by growth will outstrip that of the US and Europe. It 2004 it had reached a growth rate of 8.8%. In should be sustainable for around 30 years. 2005 the economy grew by 6% & unemployment
2 Trade dependency – the value of exports and imports is 4 In 1999 manufacturing accounted for 25% of GDP & equal to or greater than the value of goods and services employed 27.6% of the workforce. By 2007 employment in produced in the economy. manufacturing had fallen to just 20%. High tech 3 `Since 2000, production of drugs & medical devices has manufacturing jobs are disappearing as manufacturers move quadrupled to $15billion’ `The city state is becoming the offshore to China. largest hub for private banking outside Zurich.’ Kathleen 5 Travel receipts represent about 5% of GDP. In 2003 visitor Kingsbury `Singapore Soars’-Time June 2007 p 42 numbers fell to their lowest level in 20 years. 27 had fallen back to 2.5%.6 This was its lowest level corporate tax rate by 8 percentage points since in four and a half years. In spite of its strong 2000. This has made Singapore a more attractive growth it has been able to maintain low inflation destination for foreign investors. Assets managed rates. for offshore clients in Singapore climbed about 25% in 2005.’ AFR 3.4.06 `Banks sling manpower The Trade Ministry forecast a growth rate for at Singapore’s millions.’ Yoolim Lee. In 2005 2006 in the 7.5 -8% range. The economy grew at Singapore ranked 6th globally as an offshore 7.9%. By the second quarter of 2007 the GDP of private banking centre. Singapore was expanding at an annualized rate of 14.4%. This was a result of two main factors – Development here has been within a framework strong global demand in the bio-medical, of transparent markets where price signals guide aerospace and marine industries and higher the allocation of resources and where economic levels of foreign investment in property, principles guide economic participation in the construction and financial services. As the current economy. The level of intervention is greater here growth is more broad-based, Singapore is less than in other market style economies but the vulnerable to volatile global cycles. government has been more successful than some in picking winners and promoting growth and Rising global interest rates are impacting on development. consumption levels in global markets and this is likely to impact on export oriented economies like Globalisation has brought benefits to the Singapore. Manufactured exports, like economy of Singapore. Trade is a major electronics, fell in 2006. contributor to economic growth and foreign investment has facilitated the transfer of By the second quarter of 2007 the GDP of technology. The transnational companies Singapore was expanding at an annualized rate operating out of Singapore have contributed to of 14.4%. This was a result of two main factors – the high level of investment here and to the strong global demand in the bio-medical, expansion of high-value added exports like aerospace and marine industries and higher electronics. levels of foreign investment in property, construction and financial services. As the current K Newman, received August 2007. growth is more broad-based, Singapore is less vulnerable to volatile global cycles.
The quality of life has improved and the incidence Activities of poverty has fallen over the past three decades.
In 1995 only 6.5% of the population was living in poverty. However the wages of the poorest 30% • Define indicative planning Singaporeans have dropped over 2002 -2007. • Identify the advantages and Life expectancy was 77 years in 1997 and infant disadvantages of globalization mortality was 3.6 per 1000. Literacy levels were for Singapore over 90%, 100% of the population had access to safe water and most people could afford to buy their own homes. Singapore’s taxes are among the lowest in Asia and this has attracted millionaires from elsewhere in Asia. The Government has reduced the
6 In March 2003 unemployment rose to 4.5%. A package of unemployment relief measures was announced in April 2003. Its main target was tourism related industries. 28
APPLICATION FORM FOR CBF AWARD
Name: ......
School:......
......
Member of which BEA affiliate organisation:...... Postal address:...... The business of teaching ...... BUSINESS EDUCATORS AUSTRALASIA (BEA) CONFERENCE Tel: ...... Wednesday 9 to Friday 11 July 2008 Fax: ......
Mobile: ......
E-mail:......
Please attach to this application form a submission in 500 words or less on ‘what benefits would you and your teacher association obtain from interacting with teachers in your subject area from across Australia and New Zealand’ . Submissions should be sent to your BEA Teacher Association in your state/territory by 8 February 2008. For further information contact BEA on 1800 631 203.
The Commonwealth Bank Foundation (CBF) is offering an opportunity for teachers who have been teaching for less than five years to attend the Business Educators Australasia (BEA) conference ‘The business of teaching’ to be held in Melbourne, Victoria on 9 to 11 July 2008. CBF will award free registration to four teachers from Australia and New Zealand. The BEA will contribute up to $350 towards airfare. WHO IS ELIGIBLE? ◆ Business Educators Western Australia Inc. (BEWA) Any teacher who has been teaching for five years or less in the business Ms Maria Tsovleas education/economics area and who is a member of a BEA affiliate. Curriculum Council of Western Australia teacher association obtain from interacting with teachers in your subject area from 27 Walters Drive, Osborne Park WA 6017 HOW CAN I APPLY? across Australia and New Zealand Tel: (08) 9273 6363 Fax: (08) 9273 6389 Submit an application of 500 words or less on ‘what benefits would you and your ◆ Economics and Business Educators New South Wales (EBE NSW) ’. Ms Bronwyn Hession Diocese of Broken Bay WHAT WILL YOU RECEIVE? PO Box 967, Pennant Hills NSW 1715 Airfare from your nearest capital city and registration fees to attend the BEA conference Tel: (02) 9847 0250 Fax: (02) 9847 0001 2008 — The business of teaching to be held on 9 to 11 July 2008 in Melbourne, Victoria. ◆ Economics Teachers’ Association of Western Australia Inc. (ETAWA) Dr Henryk Flak Submissions should be received no later than 8 February 2008 Mater Dei College by the local affiliate organisation of which you are a member. PO Box 10, Joondalup WA 6919 Tel: (08) 9405 4777 Fax: (08) 9306 2629
◆ Business and Enterprise Teachers’ Association of South Australia Inc. (BETASA) ◆ Economics Teachers’ Society of South Australia (ETSSA) Ms Anne Glamuzina Ms Margot Perry PO Box 535, Salisbury SA 5108 24 Buller Street, Prospect SA 5082 Tel: (08) 8250 2677 Fax: (08) 8281 7633 M: 0439 331 394
◆ Business Education Teachers’ Association, Northern Territory Inc. (BETANT) ◆ Legal Studies Association of New South Wales Inc (LSA NSW) Ms Myra Ramsay Mr Brian Elliott Northern Territory Open Education Centre PO Box 5300, Sydney NSW 2001 5 Johns Place, Rapid Creek NT 0810 Tel: (02) 9367 8274 Fax: (02) 9367 8476 Tel: (08) 8922 2222 Fax: (08) 8922 2232 ◆ New Zealand Commerce and Economics Teachers Association Inc. (NZCETA) ◆ Business Educators’ Association Queensland Inc. (BEAQ) Ms Christine Watson Dr Anthony Gray PO Box 95, Oamaru, New Zealand University of Southern Queensland, Toowoomba QLD 4350 Tel: (0011) 643 434 7099 Fax: (0011) 643 434 7099 Tel: (07) 4631 1413 Fax: (07) 3857 4667 ◆ Queensland Economics Teachers’ Association Inc. (QETA) ◆ Business Educators Australian Capital Territory Inc. (BEACT) Mr Doug Cave Ms Sharon Quinn GPO Box 1308, Brisbane QLD 4001 Copeland College, Copeland Drive, Melba ACT 2615 Tel: (07) 3214 8230 Fax: (07) 3214 8231 Tel: (02) 6205 7622 Fax: (02) 6205 7629 ◆ Victorian Commercial Teachers’ Association Inc. (VCTA) ◆ Business Educators Australasia Tasmania (BEAT) Ms Leonie Swarbrick Ms Julie Fisher PO Box 361, Abbotsford VIC 3067 School Education Division Tel: (03) 9419 9622 Fax: (03) 9419 1205 Letitia House, Mt Nelson TAS 7007 Tel: (03) 6233 7020 Fax: (03) 6233 6982
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business studie
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Business studies Interactive whiteboards
Interactive whiteboards Using the Interactive whiteboard as a revision tool in Business Studies by Rhonda Thompson, HSIE Teacher, St John Bosco College, Engadine
uthor John Irving said that “Half my life is projected on the whiteboard surface from revision”. However, what good revision is a digital projector A will depend on who you are. As a student, good revision should be easy to get started with, Interactive whiteboards are replacing easy to stick with, and easy to remember. As blackboards and whiteboards. teachers, our goal may not be “good” revision in the generic sense, but effective revision, whose Classroom uses end product is students who have retained pertinent information, skills and concepts, to Interactive whiteboards are used in many schools empower them to answer questions accurately, as replacements for traditional whiteboards and to including relevant detailed information, and that provide ways to show students material on the demonstrates a strong understanding of the computer (educational software, web sites, and others). Projectors, which are used on interactive content. whiteboards, can also be connected to a video recorder or DVD player thus eliminating the need Using the interactive whiteboard as for a television in the classroom. The interactive a revision tool whiteboard also allows students to solve puzzles and math problems and demonstrate their The interactive whiteboard (IW) is fast becoming knowledge, and allows the teacher to keep notes the new teaching and learning tool in the on the lesson. classroom. In addition, interactive whiteboards allow teachers to record their instruction and post the material for Overview review by students at a later time. This can be a very effective instructional strategy for students Wikipedia provides a useful overview: who benefit from repetition, who need to see the material presented again, for students who are An Interactive Whiteboard is a whiteboard writing absent from school, for struggling learners, and surface which can capture writing electronically. for review for mid-terms and finals. Brief Interactive whiteboards require a computer and instructional blocks can be recorded for review by are designed to also allow interaction with a students—they will see the exact presentation projected computer image. that occurred in the classroom with the teacher's audio input. This can help transform learning and Interactive whiteboards are used in one of two instruction. ways: Literature reviews 1. To capture notes written on the whiteboard surface There are a number of recent literature reviews and papers on the use of interactive whiteboards 2. To control (click and drag) and/or mark-up in the classroom: (annotate) a computer-generated image
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● enables teachers to save and print what is on o Beauchamp, G and Parkinson, J (2005) the board, including any notes made during the Beyond the wow factor: developing lesson, reducing duplication of effort and interactivity with the interactive whiteboard. facilitating revision School Science Review (86) 316: 97–103. ● allows teachers to share and re-use materials, o Glover, D and Miller, D, Averis, D and Door, reducing workloads V. (2005) The interactive whiteboard: a ● easy to use, particularly compared with using a literature survey. Technology, Pedagogy and computer in whole-class teaching Education (14) 2: 155–170. o Smith, H.J. , Higgins, S., Wall, K., and Miller, ● inspires teachers to change their pedagogy and use more ICT, encouraging professional J. (2005) Interactive whiteboards: boon or development bandwagon? A critical review of the literature, Journal of Computer Assisted Learning, Benefits for students: 1 21(2),pp.91–101 ● increases enjoyment and motivation
5.2 Benefits of the use of I.W.’s as ● greater opportunities for participation and teaching tools collaboration ● reduces the need for note-taking through the The British Educational Communications and capacity to save and print what appears on the Technology Agency’s ICT Research publication of board 20032 outlines a number of benefits of the use of interactive whiteboards (I.W.’s) ● students are able to cope with more complex concepts as a result of clearer, more efficient and General benefits: more dynamic presentation ● can be applied in all Key Learning Area’s and ● different learning styles can be accommodated through all stages as teachers can call on a variety of resources to ● information can be presented more efficiently, suit particular needs allowing for more teaching time ● students do not have to use a keyboard to ● more opportunities for interaction and engage with the technology, increasing access for discussion in the classroom younger children and students with disabilities
● increases enjoyment of lessons – greater Using I.W.’s as a revision tool variety of resources and greater student motivation The key to using an Interactive Whiteboard as a revision tool is to: Benefits for teachers:
● enables teachers to integrate ICT into their lessons while teaching from the front of the class. Save those lessons! I now teach from the side of the room as a facilitator, not the centre of attention! Why?
One of the basics we all learn at teachers’ college is that good teaching takes students from the 1 http://en.wikipedia.org/wiki/Interactive_whiteboard known to the unknown. By saving your lessons – 2 Available for download at be they brainstorms, mind maps, step by step http://www.becta.org.uk/page_documents/research/wtr processes or anything else that makes up your s_whiteboards.pdf 33 lesson, you can allow students access to these “lesson snapshots”. Students can work back through these at their own pace. These “lesson snapshots” can also be powerful exam revision tools. Instead of saying to students “remember when we learned about….”, the “lesson snapshot” allows you to show them – giving you scope to take students very quickly back through previously learned work, and apply it to newly learned concepts or questions.
Working and answers to student examples
2 key concepts
An equation
The following files are examples of some revision activities for the revision of the Marketing topic in HSC Business Studies. They have been created for use on Smartboards – I’m using version 9.5. If your school has a smartboard, you are legally allowed to download the software to view these files, and to create your own from
http://www2.smarttech.com/st/en- Figure 7 A sample lesson from the IW US/Support/Downloads/default.htm
• Elements of a marketing plan revision activity
• Lightening writing – the 4 P’s
• SWOT Activity
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Business studies Accreditation
Accreditation for professional competence by Kim Jackson, Principal, Killarney Heights High School
Secondly, the process is monitored and aving just acted as an assessor for the administered by the NSWIT. Assessors review NSW Institute of Teachers for some new the reports to ensure that the Professional H scheme Social Sciences teachers I Teaching Standards are applied consistently thought that it would be appropriate to across all the schools in NSW. They give share some of what I have learned for teachers feedback to the Teacher Accreditation Authority who are seeking accreditation at Professional about their process of accreditation. Neither the Competence with the Institute and for their NSWIT nor the external assessors can override supervisors. A number of the items included here the accreditation decision that has been made. have been also forwarded to the Institute for their consideration. Assessors need to see a sample of your work as a teacher in the form of evidence. Each piece of Introduction evidence should be carefully selected and annotated to demonstrate one or two Standards You can think of the accreditation at Professional at Professional Competence. A good guideline is Competence as a two-part process. that you select evidence for at least ONE Firstly, there is the mentoring of the teacher in the Standard per Element. school. This process is an ongoing process You do NOT need to demonstrate ALL of the determined by the school and the employer. Over Standards in your evidence as the report already a period of time the teacher must demonstrate covers a broad range of your teaching practice ALL of the Professional Teaching Standards in and the supervisor has already seen you their teaching practice. demonstrate the Standards in your teaching.
When the supervisor’s report is written and the It is better to carefully select and annotate a few evidence attached, the Teacher Accreditation documents than to throw everything into the Authority signs off on the report and forwards it to report. The assessor wants to see a clear sample the NSW Institute of Teachers (NSWIT). When that gives an insight into your work and shows this is done you are officially accredited at your understanding of the Standards. Professional Competence. In the government school system the Teacher Accreditation The booklet from the NSWIT entitled Information Authority is the School Education Director. In for New Scheme Teachers provides the details other school systems it may be the Principal or a about accreditation for all teachers in NSW. designated officer in the system.
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Some suggestions for candidates when Comments on Evidence for Element 2 selecting and preparing your evidence Lesson plans or student work samples that address the Standard 2.2.6 with a “range of 1. Clearly label and number each piece of literacy strategies to meet the needs of all documentary evidence so that they can be students” should be more than a spelling list or an cross referenced. excursion report or and exposition assessment
task unless you can show what you have done to 2. Clearly annotate each piece of evidence supplied. This does not necessarily mean specifically assess the needs of NESB, ATSI or place a shopping list of Standards at the special education students through these top of each document. Better examples particular activities. used text boxes of specific Standards that Evidence of catering for individual learning were superimposed on each document in differences in the classroom could include use of the relevant place or they wrote their extension activities, curriculum compacting, annotation on a separate page which was enrichment activities for talented students or the inserted directly before or after the piece of evidence. Effective annotations include use of remediation activities for students who are some analysis of the context and struggling to obtain mastery of specific concepts application of the evidence in teaching or skills. practice, for example what happened when they ‘used a variety of appropriate It is important that the teacher reflect upon their resources and materials that engage practice as they are selecting their evidence and students and support their learning’ writing their annotations. If you are an early (Standard 3.2.4). career teacher it is possible that early lessons
have been delivered like a “one size fits all” type 3. Please ensure that when student work samples are submitted, that the student’s of model…. but on reflection a teacher might name is removed and that what you write realise the need to do this a little differently next as a comment or feedback for the student time in order to get better student engagement or is something that will help them learn and better student results and achievement of improve their future performance. A learning outcomes. A follow up work sample that comment like “Excellent result” does not shows the subsequent modifications could be help a student improve their future good evidence for Standards under Element 2, performance. It may be positive reinforcement or be trying to build a better “Teachers know their students and how they relationship between the student and the learn”. This is where later pieces of evidence teacher but it does not demonstrate would better demonstrate the Standards than the Standard 3.2.7 ‘Provide timely, effective early ones where you may still be learning about and consistent oral and written feedback your students and their needs. to students to encourage them to reflect on and monitor their learning” nor does it Comments on Evidence for Element 3 demonstrate 3.2.6 ‘Communicate to students the link between their The Standards under Element 3, ‘Teachers plan, achievement and the outcomes set out in assess and report for effective learning’ provide a the syllabus.’ wide range for a teacher to select which one/s to
address. The NSWIT prefers NOT to receive Comments on Evidence for Element 1 lesson observations as these are a source of Be specific about the ICT activities used in your evidence used by the supervisor to write the classroom. This needs to be more than ‘using the report. The teacher’s own evidence should be internet’ within a faculty teaching program. documents you have generated or modified in Demonstrate ‘effective use of the internet’ (part of your teaching practice. Standard 1.2.4). This could include an annotated student work sample showing how the student Some evidence that you may wish to include has effectively used the internet to produce some would be copies of one or a sequence of lesson specific work. plans which note: 36
The course being studied e.g. Commerce Professional Teaching Standards relate to teaching and learning. Avoid using a list of The class or year e.g. Year 10 – this clarifies the courses. Instead the teacher should use a course stage of the students and show how the knowledge impacted on The syllabus outcome(s) being addressed teaching and learning. This could include, a School Development Day and the specific The variety of teaching and learning activities (if professional learning undertaken, Beginning more than one lesson plan is included). Teachers Induction program, faculty meetings, other professional interactions with supervisors When addressing Standard 3.2.8, ‘Use and and colleagues and external professional maintain effective and efficient record-keeping development courses completed. systems to monitor students’ learning progress’ the teacher should avoid using administrative Comments on Evidence for Element 7 documents, such as spreadsheets of results. Element 7 could be shown by interactions and These do not address the idea of “monitoring” or networking with colleagues and community “progress”. The best examples seen have stakeholders in education forums (Standard included a student’s results in a task and the 7.2.4) If a teacher is involved in specific homework follow up given to address a particular community programs such a sporting problem in the students’ learning. organizations these are not appropriate to include as evidence. The Professional Teaching If you are addressing 3.2.9, ‘Report effectively to Standards are the basis for the report and students, parents and caregivers about student evidence and everything needs to relate back to learning.” think about the word “effectively’. A the teaching and learning environment. An proforma report with a generic comment would example for Standard 7.2.3 might be a plan for not demonstrate this Standard. bringing parents or the community to the school to participate in learning programs or a letter to In this Element more teachers need to parents asking them to assist their child to demonstrate their understanding of 3.2.10, ‘Use complete specific assessable tasks – perhaps student assessment to evaluate teaching and related to family budgets in Commerce or family learning programs and inform further planning.’ heritage as part of geography or history and to Some of the most effective documents here provide the teacher with better background would be analysis of test results and planning for knowledge of each student. development of those skills. This list is by no means prescriptive or Comments on Evidence for Element 4 exhaustive. What I can say is that there are a lot Ensure that you use lesson plans or work sheets of wonderful new scheme Social Scientists in our that incorporate a variety of group activities and schools and I feel very fortunate to have been questioning techniques for Standards within able to share some of their educational journey by Element 4, ‘Teachers communicate effectively acting as an assessor for the Institute of Teachers with their students.’ this year. Comments on Evidence for Element 5 I would encourage other senior teachers to Element 5 is commonly addressed by your consider applying to be assessors with the NSW supervisor’s report. He or she has observed the Institute of Teachers when expressions of interest teacher’s classroom and its conduct. Standards are next sent out to schools. You may find that it 5.2.3 and 5.2.4 could be effectively addressed gives you some good ideas in terms of how to through the lesson plans and programs organise some elements of learning and teaching submitted. in your own school. It is also a good opportunity Comments on Evidence for Element 6 to get a deeper understanding of the Standards An extract from a teacher’s professional learning for Professional Competence that need to be plan could be used here. Keep in mind that the developed in our early career teachers. 37
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commerc
Guidelines for using the flyers
Integrating Consumer and Financial Literacy across the curriculum from Primary to Year 10
The following flyers are intended to be used: • as promotional material to set the scene; • as discussion starters; and • in any sequence
Reasons for teaching consumer and financial literacy
Young people are faced with: • changing social and technological environments; • changing work and economic environments; • sophisticated and persuasive advertising from providers of financial services; • a range of mobile phone plans and offers; and • greater exposure to a range of credit cards, and terms and conditions. Financial literacy: Australians Understanding Money Report shows: • Young people are less confident than adults when it comes to managing money; • 59% of young people say that financially, they like to live for today compared to 34% of adults; and • 70%–90% of young people want to learn more about money issues:
91% Understanding rights and responsibilities 90% Saving 88% Recognising a scam 85% Planning for the financial future 84% Budgeting 84% Dealing with financial services providers 83% Getting information about money 83% Managing debt 82% Understanding financial language 80% Choosing appropriate insurance 81% Investing 73% Dealing with credit cards 70% Ensuring enough money for retirement
Young people want to learn more about money Financial literacy: Australians understanding money is a 2007 study of financial literacy attitudes and behaviours of 7,500 Australians, including 553 young people aged 12 to 17. The majority of young people (70%—90%) were interested in improving their knowledge across a range of money issues including budgeting, saving and managing debt. The survey also found strong support amongst young people for financial literacy education in schools.
Budgeting — 84% of young Australians think it's important to learn more about budgeting compared with 57% of adults.
Saving — 72% of young people agreed that saving a small amount regularly from a young age is the most effective savings strategy.
Investing — around 65% of young people said they have the ability and understanding to invest, but only 13% would consider both risk and return before making an investment decision.
Integrating consumer and financial literacy skills across the curriculum
Conceptual skills: • analysis and evaluation; • decision making and problem solving; • research and investigation; • planning and organising.
Numeracy and literacy skills: • measurement, calculations and computations; • data collection, analysis, interpretation; • critical comprehension and interpretation of written material, research and exploration; and • communication in oral, graphic and written forms.
Information and communication technologies skills • engaging with software applications, multimedia and other electronic communication systems to record and present information.
Support for teaching consumer and financial literacy
What assistance can teachers access to teach consumer and financial literacy across the curriculum?
Support for teachers includes:
• Professional Learning support to implement Consumer and Financial Literacy through Australian Government Quality Teaching Programme (AGQTP);
• Professional Learning Package, including the Maitland financial literacy life skills school education programme DVD;
• Additional funding beyond 2008 through AGQTP;
• Advice on long term sustainability through community partnerships to improve student outcomes.
Living in the 21st century a world of complexity
1974 The first Bankcard was launched
There are about 250 different cards on offer, and Today as of November 2007 the nation had a credit card bill of $42 billion with 30 million revolving credit. There are over 13 million cards in circulation.
Samples include:
Complexity of credit cards (end 2007) Card Issuer BT Rate BT Period Std APR Fee
HSBC 0% until March '08 11.95% $39 p.a
St George 'Vertigo' Card 0% 6 mths 9.95% $45 p.a
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Legal studie
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legal studies elections
Twelve tricky questions about government elections and voting that could be asked in your classroom
By Joe Alvaro All Saints Catholic Senior College 10 October 2007
Questions
oth in Legal Studies and Commerce 1. Can legal action be taken against students learn about various aspects of politicians who break promises made during
Bgovernment elections and voting when election campaigns? studying topics related to government and parliament. No. Promises made by a political party or candidate during an election are not legally The following questions and answers may help binding (Green,2004). The kind of action that teachers in helping curious students who may can be taken is that voters can remind ask these questions in class without having to politicians that promises have been broken say to them “I will get back to you”. through the media or by writing to them and they can take away their authority to govern at Raising these questions in class may also help the next election by not voting for them. teachers with addressing the following dimensions of the NSW Quality Teaching 2. a) What would happen if Prime Minister John Model (NSW Department of Education and Howard lost his seat of Bennelong? Training, 2003): Technically John Howard would have to leave 1. Intellectual quality – lessons which consist of parliament, like any other member of deep knowledge, deep understanding and Parliament who does not win a seat. which allow students to engage in higher-order thinking. This situation has occurred in Canada. Prime Minister William Lyon McKenzie King was in 2. Significance – lessons which are meaningful office for almost three decades and twice lost and important to students, as students make his seat at elections where his government was connections between the theory of a course to returned. In both cases a fellow member of what happens outside the classroom in the real parliament kindly resigned in a safe seat (that is world (e.g. on election day). By the end of 2007 a seat that was usually won by the party that NSW will have experienced both a State and McKenzie belonged to). This caused the need Federal election, so students will be heavily for a by-election, allowing McKenzie to stand exposed to government elections and voting for election again and win (Green,2004). Here during this year. in Australia if Prime Minister Howard lost his 46
seat he could convince a fellow member of from the NSW State Parliament Upper House in Parliament to resign a safe federal Liberal seat 2006 because of illness. This vacancy was and then contest the resulting by-election which filled by members of Parliament electing a he would probably win because it is a safe seat. Shooters Party member to serve out the The Prime Minister would be able to stay in remainder of Mr Tingle’s term (AAP, 2006). office while this took place, as the constitution Similarly when Christian Democratic Party allows Ministers to hold office for up to three Member of Parliament Elaine Nile resigned months without being a member of Parliament from the NSW State Parliament Upper House (Green,2004). because of illness, members of Parliament elected Rev. Dr. Gordon Moyes, who was a b) Has a political party in Australia ever won member of the Christian Democratic Party, to an election in which their leader lost their fill the vacancy in 2002 (Moyes,2005). seat? 4. Why are elections always held on a No. Prime Minister Stanley Bruce lost his seat Saturday in Australia? of Flinders in Melbourne in 1929, but his government was defeated so even if he had The Commonwealth Electoral Act specifies won his seat he still would not have been Prime polling must take place on a Saturday. In Minister (Crook, 2007). England, where voting is not compulsory, elections are usually held on a Thursday, 3. a) What is a by-election? avoiding people who go away for the weekend A by-election is a special election held to fill a missing out on voting. place that has become vacant between general elections. A vacancy may occur because a 5. a) Why do we use pencils for voting? member of parliament has died, resigned The Commonwealth Electoral Act says that (Jaensch,1984) or has committed a serious pencils must be provided to voters. crime. Green (2004) says that “pencils are cheaper, b) Why are by-elections held for lower can be sharpened if they go blunt and are less house seats, but not for upper house seats? likely to be stolen” (Green, 2004).
A lower house member of parliament b) But doesn’t this make it easier for represents their electorate, and only people in someone else to change a vote, by using an the electorate vote when there is a lower house eraser, for example? vacancy. An upper house member of Parliament represents everyone in a particular Ballot boxes are guarded by a polling official. state or territory, and all voters in a state or Once the ballot papers are taken out of the territory (that is all voters in all electorates in a ballot box after 6pm when polling booths close, state or territory) would need to vote if there workers who are counting the votes are heavily was an upper house vacancy. Jaensch (1984) supervised by members of political parties says “it is not feasible to establish the full,state- called scrutineers who have permission to enter wide electoral machinery to elect just one the counting area and make sure that the votes member” (p.72). For example, it would be too are being counted correctly and that no expensive to hold a state-wide upper house by- dishonest worker changes a vote, by using an election every time a vacancy arose. eraser, for example. As voters are advised to get a new ballot paper if they make a mistake, a Therefore political parties usually nominate a ballot paper which looked like it had been party member for Parliament to elect to fill the changed by someone using an eraser would be vacancy. For example The Shooters Party treated suspiciously. Member of Parliament John Tingle resigned 47
c) What happens to all the pencils 9. a) What is a secret ballot? afterwards? A secret ballot is a voting method in which voters mark their choices in privacy. Peita Mamo who is an Electoral Officer at the Australian Electoral Commission says they are b) Has voting always been conducted in “reused and recycled” (Mamo,2004). secret?
6. Does the Governor – General vote in the No. Voting has occurred under open voting federal election? where “ the voter wrote on a piece of paper – As an Australian citizen, aged over 18 years old any piece of paper – the name of the candidate it is compulsory for the Governor Gerneral to he preferred and his own name. This was vote. However, Election Analyst, Anthony handed to the returning officer who read out the Green writes “I am advised that the Governor name chosen and asked the voter if that was General’s office writes to the local returning his preference. The clerk wrote in the poll book officer at each election stating reasons why he the name of the voter and his choice. The piece is unable to vote. In the past, the returning of paper went into a box so that it could be officer has ruled the Governor –General’s examined later if there was a challenge to the reason for not voting is a valid and sufficient result. All this happened in public and anyone excuse and therefore waived the fine for not could easily discover how someone had voted” voting” (Green, 2004). (Hirst,2006,p.3).
7. If the Australian Labor Party is The secret ballot was introduced in Victoria in successful at the federal election in 2007 the 1856. Australia was the first country to use the federal government and all the state and secret ballot, known as the “Australian ballot” territory governments will be controlled by (Hirst, 2006). the same party. Has this ever happened in Australia in the past? c) Can people who are blind experience our “secret ballot” system and thus have their This has happened for a little over a year in vote kept secret? 1969/1970 when the Federal and all six state governments (there were no territory In the past, people who are blind have had to governments at the time) were in Liberal rely on relatives, friends or a polling official to hands. The current situation of six state Labor complete the ballot paper. governments and two territory Labor A trial of a new electronic voting computer governments has never happened before in system will take place in 2007 which will allow Australia (Green,2004). blind voters to vote unassisted and 8. Who are all those people that hand out independently for the first time (Sumegi,2007), material at polling booths on election day as benefiting about 300, 000 people with vision people go to vote and are they paid? impairment (Human Rights and Equal Opportunity Commission, 2007). These people are usually members of political parties or relatives and friends supporting the Dawson Ko who has tried the electronic voting candidate who is standing for election. They are system has said: “at the last state election, I under the direction of a booth captain who had to listen to the names of candidates read makes sure that each gate of the school, for out to me, and then instruct the person how to example, has someone handing out how to vote on my behalf. Sometimes I’d feel like I had vote cards and that no voter is missed. They to justify my selections to them. It’s not a great are volunteers. feeling” (Ko,2007).
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10. a) Who was the first female prime References minister in the world? AAP (2006), “MP with cancer calls it quits”, The Sirimavo Ratwatte Dias Bandaranaike of Sydney Morning Herald, 3 May 2006 Ceylon (now Sri Lanka) became the world’s first Crook, F (2007), “Unseemly dispatch of war hero female prime minister in 1960 (Need to know – and toff”, The Daily Telegraph, 5 March 2007,p.59 Women in politics, 2006). Green, A (2004), Anthony Green’s Election b) Has Australia ever had a female Prime Guide, viewed 10 October 2007, Minister? www.abc.net.au/elections/federal/2004/items/200 No. But Australia has had female premiers. The 4/ first female premier was Dr Carmen Lawrence in Western Australia. Hirst, J (2006), Making Voting Secret,Victoria Electoral Commission,Melbourne 11. a) Have politicians in Australia always www.vec.vic.gov.au/files/SelectionsNmbr11.pdf been paid to do their job? Human Rights and Equal Opportunity No. Members of both houses of the colonial Commission, The right to vote is not enjoyed parliaments carried out their duties on a equally by all Australians, viewed 10 October volunteer basis and did not receive any money. 2007, www.humanrights.gov.au/human_rights/
During this period politicians in London did not Jaensch, D (1984), An Introduction To Australian get paid either. (Suter,2007). Politics,Longman Cheshire, Melbourne b) How much does Prime Minister John Ko, Dawson (2007), “Putting ‘secret’ back into the secret ballot”, Burwood Scene, September 2007 Howard get paid? Legal Studies HSC Stage 6 Syllabus (1999), As at June 2006, the annual salary of Mr NSW Board of Studies Howard was $309,270 (Mitchell,2006). http://boardofstudies.nsw.edu.au/syllabus_hsc/pdf However like other politicians Mr Howard will _doc/legalstudies_syl.pdf continue to get paid when he leaves politics as Mamo,P (2004), Interview with Pieta Mamo, The he will receive a lifetime pension and be entitled Sydney Morning Herald, 6 October 2004 to free travel. Mitchell,A (2006), MPs to get pay rise at twice the going rate, The Sun-Herald, 25 July 2006,p.13 12. Has an Australian politician ever been assassinated? Moyes,G (2005), Leaving A Legacy – The Autobiography Of Gordon Moyes, Ark House Yes. John Newman, NSW State Member for Press, North Sydney Cabramatta was assassinated in 1994. He is Need to know-Women in politics, Sunday Morning the only Australian politician to be Post, 22 January 2006 assassinated. (Legal Studies HSC Syllabus NSW Department of Education and Training link: Focus Study-Crime – Offences against the (2003), Quality Teaching in NSW public schools State). http://scs.une.edu.au/JanC/EDLT%20111,%2020 08/Wk3%20E- Portfolio/Qualty%20Teaching%20in%20NSW%20 PS.pdf Joe Alvaro Sumegi,J (2007), Blind voting to be trialled at All Saints Catholic Senior College election, Inner West Courier, 1 May 2007 10 October 2007 Suter, K (2007), We keep on making allowances
for MPs, The Daily Telegraph, 3 April 2007,p.43
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