All that glitters is not gold, but who knew it would be iron ore that would shine through the darkness? Australia’s energy and resource industry has lost almost $7 billion from the pandemic economic contraction. However, the Industry Department’s quarterly outlook report shows iron ore and gold exports leading the light out of the tunnel. …
As a student in my third year studying both Actuarial Studies and Economics, I’ve pondered many times whether there is a feasible link between the two degrees. To ease my anxiety about potentially wasting my university years doing things that are completely uncorrelated, I decided to take a deep dive into the recent history of …
Death Spiral – A Climate Change Event in the Healthcare System Read More »
Last week, the Australian Government announced the Job-Ready Graduates program, which shifts national focus away from arts degrees and more into the STEM fields. As a consequence of that, thousands of students feel as if though this is devaluing graduates based on their skillsets. However, it can also be perceived as a hard-line decision that …
Debate: Are increasing university fees necessary for the economy? Read More »
IMF forecasts economic circumstances to be worse than post WW2 The IMF has revised their predictions to argue that the global recession will be deeper and the recovery will take longer than initially anticipated. Advanced economies are going to experience a contraction of around 8% and emerging economies will shrink by 5%.
A tragic love tale that would captivate Shakespeare himself This is an economic love story like no other, created out of the race to globalisation, the Australian-China trade relationship has been critical to both countries economic success in the last 3 decades. Yet, like the Shakespearean classic, it seems these ocean crossed lovers are heading …
Australia and China: The Romeo and Juliet of Globalisation Read More »
“These are our dark times, but I can see that ray of light,” This week, Scott Morrison’s words ushered in the dismal announcement of a further 227,000 jobs lost between April and May, boosting the total job loss to 835,000 and unemployment rates to 7.1%. These statistics are particularly amplified for young Australians over whom …
Manufacturing goes beyond creating job opportunities… Within the realms of universities and schools, it is taught that manufacturing is a sunset industry within Australia because our lack of competitive advantage means the costs outweigh the benefits. The statistics agree with manufacturing going from 28% of GDP in 1960 to 6% of GDP in 2019.
Let’s start off with a BANG! The -0.3% growth in the March quarter prompts Josh Frydenberg to announce that “Australia had entered its first recession in 29 years. As the ABS data below shows the March quarter’s negative figure, growth prediction for the June quarter isn’t looking positive.
RBA maintains steady course amid rough economic waters. Amid a tumultuous couple of months in the Australian economy, RBA Governor Phillip Lowe has announced they have maintained the cash rate at the record breaking low of 25 basis points. This coincides with reports that consumer confidence under the Westpac Bank Consumer Sentiment Index has increased …
Not sure if this is just a me problem, but I’ve always wondered what the environment had to do with economics. It has its own category in the federal budget, it’s being taught in the HSC syllabus, and it’s policies have copped me a $200 fine for fishing without a fishing licence 🙁 Before the environmentalists …
Why should the economy care about the environment? Read More »
