Year 12 Economics

Economics Budget Party 

In Unit 3/4 Economics last term, we were studying the Australian economy. Focusing largely on the goals the Federal Government aims to achieve, including strong and sustainable economic growth, low unemployment and low inflation. In order for us to understand how the government changes the composition of tax collections and government expenditure, we spent a lesson analysing the budget.  

 Mrs Jackman distributed party bags as we arrived at class, complete with party hats, cartoons and popcorn. The excitement built as we discovered our budget bingo sheets.  

We watched the Federal Treasurer, Josh Frydenberg, hand down his pre-election budget, and keenly crossed off key phrases on our bingo sheets – this year there was lots of mention of cost-of living, floods, infrastructure, and COVID of course. 

With prizes distributed for the winners, we settled into a discussion about the relative costs and benefits of each of the government’s new spending measures, and how effective each might be in helping the government achieve its goals. 

A fun way to examine yet another interesting Federal Budget. 

Liv Hendry 

Year 12 Economics