Year 12 Economics

Unit 3/4 Economics Budget Party

An exciting annual event for every Economics student is the federal budget. On the May 13, the Year 12 economics class watched the budget together, complete with party hats and snacks supplied by our lovely teacher Mrs Jackman. 

A lot of the students would have been surprised to find that what the Treasurer, Josh Frydenburg, presented was comprehensible and were able to apply what they had learnt in the 1/2 units to the video. A few interesting points are the big tax cuts, business tax incentives, new apprenticeship and training places, more infrastructure and record funding for school, hospitals, aged care, mental health and the National Disability Insurance Scheme (NDIS). To get us paying attention to keywords and ideas, we even played ‘Budget Bingo’, with the winner getting a prize.

With podcasts, newspaper articles and graphs, attending the class has enabled us to actually understand what is going on in Australia during this volatile period. Especially with the events of Covid-19, it has been extremely useful having this knowledge. 

As a real-world subject with practical application that also changes as the world does, Economics is an important subject. So anyone on the fence, do it!

By Fagan Chiew