Skills shortage - what does it mean for you?

Check the Australian today, interesting article title 'Skills shortage, a danger' which emphasises that businesses are frustrated by the lack of Accountants, Metal Workers, Engineers, Business Administration Managers, Machinists, Metal casting and forging and finishing tradespeople.

What studies and qualifications could you pursue to meet this frustrated demand for labour? What might this mean for wages in these areas? How can educational institutions help meet this demand? What can the government do?

Which of these might appeal to you?

As our economy changes in the decades to come, will these areas remain in demand or is it only a short term deficit?

Beer: non-price competition...

Do a search on the internet for articles like:
"Toohey's brands labtested for beer economy"
"Foster's tests new beer ads on line for acceptibility"
"Beer ads less about the babes and more about the beer"
...and take note of the effort given to marketing and the different companies and activities employed in helping build market recognition, loyalty and demand for their products. In Australia this industry is not considered a competitive market, due to the concentration ratio it is more like an Oligopoly - notice the features of the market evident in these articles.

Masculinity, mateship, taste, health, humour - these are just some of the things a consumer of beer thinks he (she) is buying or associating him(her)self with when drinking the substance. Each of these ads uses powerful triggers to tap into people's longings, hopes, sensitivities to lock them in as loyal consumers. Maybe do a bit of a survey of the ads and take some critical notes of what other things are being associated with the particular brands - what common themes come up, which ads do you think are most successful and why?

Taxes can really cause a stir

http://www.abc.net.au/unleashed/stories/s2889517.htm
As we move into the annual Budget period read a little widely on taxes, beginning with this interesting view of taxes in history. Naturally when taking this kind of long historical view the Henry Tax reforms suggested earlier this week seem mild, but there is some significance amongst the suggestions: http://www.theaustralian.com.au/business/in-depth/henry-tax-review
Interpret:
Which stakeholders would be affected negatively by the suggestions? Who would benefit?
Evaluate:
Which elements of this review are a response to Australia's recent (last decade) economic performance and which take a more long term view?

Why is Gittens so keen to call it a recession, it wasn't!?!?

Why does Ross Gittens insist we should know the recent downturn as a recession? Why was it not a recession, looking at the figures he presents could you argue that he is wrong to be so insistent? What factors does he suggest were so important in ensuring employment didn't drop as hard as it might have at another time in Australia's history?
www.smh.com.au/business/why-people-kept-jobs-in-this-recession/20100326-r34s.html - March 27 Sydney Morning Herald.

Economic Management

As Australians become increasingly aware of the immanent election, debates have begun, dates for polling discussed, the Liberal party prepares to restack its front bench, and an important budget about to be released what similarities and differences can we see if we compare our economy with England: www.economist.com/opinion/ - British Economy - 'The Pain to Come.'
See if you can create a list of similarities and differences.

Some interesting data to also consider is the budget deficits as a percentage of GDP.
Make some inferences about the relative sizes of these, what other data in this table might help understand the country's ability to repay such debts?

what is the proper role of government?

As we consider the issue of income redistribution, read what Noel Pearson writes: www.theaustralian.com.au/news/opinion/when-welfarism-takes-over-disaster-will-follow/story-e6frg6zo-1225824862838
What does Mr Pearson attribute as the reason for this 'social disaster'? How does this fit with the introduction from Pope Leo XIII, ie. the role of government v. the role of individuals or families? Is there something Libertarian in what he is saying?
There will be a few words in this text you'll need to look up and define.