RESOURCES: the business cycle
Articles RBA, The Business Cycle (a simple summary from the Reserve Bank), and the activity Business Cycle Case Studies. Khan Academy, Lesson Summary: business cycles.… Read More »RESOURCES: the business cycle
Mr B.
NEWS: Value of wages falls
The ABC reports that “Australians experienced their largest real wage decline on record in 2022”. At the same time, Trading Economics reports that Australian wages… Read More »NEWS: Value of wages falls
RESOURCES: Elasticity
Relevant text from the Study Design: Articles Khan Academy, Elasticity in the Short Term and in the Long Term 5.1. Price Elasticity of Supply and… Read More »RESOURCES: Elasticity
Step-by-step process for changes in equilibrium
How to approach a question that requires you to draw a supply and demand diagram, and show the impact of a factor on price. Sometimes… Read More »Step-by-step process for changes in equilibrium
RESOURCES: Market Equilibrium
Resources on Equilibriums, for Unit 3, AOS 1. Interactive Marginal Revolution ‘University’ has this interactive quiz on finding market equilibrium. Articles Khan Academy has three… Read More »RESOURCES: Market Equilibrium
NEWS: RBA increases interest rates
News Coverage This ABC article provides the facts, and discusses some of the likely impact of this increase in interest rates. Worth a read. ABC… Read More »NEWS: RBA increases interest rates
Resources: Law of Supply
Articles Khan Academy, Law of Supply (article), part of their Law of Supply unit. Quizlet, Law of Supply flashcards. Videos Supply and Demand; Crash Course… Read More »Resources: Law of Supply
Alan Kohler: RBA should let inflation run its course
Alan Kohler commenting on inflation, demand, and reserve bank policy. Interesting read! Here’s a wild idea for mainstream economists to smile at condescendingly: How about… Read More »Alan Kohler: RBA should let inflation run its course
RESOURCES: Law of Demand
The law of demand states that a higher price leads to a lower quantity demanded and that a lower price leads to a higher quantity demanded. Khan… Read More »RESOURCES: Law of Demand
VIDEO: Production Possibilities Frontier
Jacob Cliffords has a couple of great videos on the Production Possibilities Frontier (PPF). Production Possibilities Curve Review (5.35 mins) Shiting the Production Possibilities Curve… Read More »VIDEO: Production Possibilities Frontier