international economics week 1 12 th february 2013 introduction course 17832 advanced diploma...
TRANSCRIPT
International Economics
WEEK 112th February 2013
INTRODUCTION
Course 17832 Advanced Diploma Management
ICE BREAKER!!!
Thought-starter
• What is the closest living relative today, of the TYRANNOSAURUS REX?
HINT:
ANSWER:Source: USA Todayhttp://www.usatoday.com/tech/science/2008-04-24-trex-chicken-dna_N.htm
Thought-starter
• What is this? – It was caught in Karachi, Pakistan. 8/2/2012– Weighs 7 Tonne, 10- metres long– These can grow longer than 12 metres and can weigh up to 20 tonnes
HINT:
• It is the biggest living fish alive today.
ANSWER
• Whale shark
• IS IT A WHALE OR A SHARK?
Another Q
• What is the largest known animal to have EVER existed?
ANSWER
• BLUE WHALE (not a fish, a marine mammal)– 30 metres– 180 tonne +
Also…
Lion’s Mane Jellyfish
• 6 metres long with tentacles over 50m
• Has been living in Arctic waters for over 650 million years (since BEFORE the dinosaurs)
• One of the oldest living species in the world.
HOUSEKEEPING
• Toilets
• Exits / Evac
• Air / Heat
• Breaks
• Roll sheet
• Notes– EMAIL
• Issues?
• Readings
• Logins– WIFI
InternationalPassword: danish123
– InternetUser: cseight.swsldPwd: learning105
• Safety in Sydney– TIPS– BE PARANOID
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Names
• Write names on folded piece of paper
Orientation
• Guidelines– RIGHTS
• Safety• Harassment
– ASSESSMENTS• SAGs• Late submittal• Extensions• Sick• Resit/resubmit policy• Report format / Image &
presentation• Academic writing
– Attendance
– Plagiarism
• Student Association
• Library
• Text books / book shop
• RPL
• Breaks
EXPECTATIONS
• RESPECT– Courtesy
• Respect opinions of others
• Speaking in turn– DO NOT SPEAK WHEN
OTHERS ARE SPEAKING
• Attendance
• ON TIME
• PARTICIPATION– Contribute– Ask Q’s– Comment
• NO Mobile phones
• NO Food
UNITS
OUTCOMES
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By the end of this session you will:
• Understand what is expected of you in this subject
• Be introduced to the course content
Session Guide
• SAGs
INTRODUCTION
My Background
So why am I here?
And now at TAFE!
Mr. Margaritis
The path ahead for YOU
A recent study estimates that
Today’s learner will have 10-14 jobs...
by the time they are 38
That’s a new job/role every 1.4 years for YOUacross multiple employers
Easily achievable by any of you seated here today,
In fact most of you should expect to have
excelled in your starting CAREER,
and commenced in a NEW CAREER by the time you hit your mid 30s.
Enough About Me...
• Name?
• Answer two (2) of these only:1. Best day in your life?2. Something that not many people know about you is…3. What is the most interesting place you have ever
travelled? Why4. What is your worst injury ever?5. Favourite TV show?6. Favourite chocolate bar?7. Furthest travelled from Sydney?8. Name a topic you feel very passionate about
More About You
• Name (again)
• Background– Prior experience– Studies to date
• What do you hope to get out of this course?
• What do you want to do when you finish?
WHAT TYPE OF LEARNER ARE YOU?ACTIVITY
What is Learning?
• Learning as a Process:– An event when an individual or group of
individuals experience a change in, knowledge, skills or attitude
• Learning as an Outcome:– A change in knowledge, skills or attitude
experienced by an individual or group
VAK - Visual
• Need to see what is going on• Preferred learning methods:
– Activity sheets, handouts, learner guides, manuals
– Brochures, charts, graphs & posters
– Demonstrations– Visual displays & diagrams
VAK - Auditory
• Learn by Listening• Preferred learning methods
– CDs and audio tapes– Discussions– Explanations, lectures,
stores– Q&A techniques
VAK - Kinaesthetic
• Learn by Doing• Preferred learning methods:
– Discussions– Peer support– Practical exercises– Problem solving & discovery
activities– Role plays
INTRO TO A NEW MARKET:AUSTRALIA
International Economics
WELCOME!
YOU ARE HERE
AUSTRALIA
An overview of
AUSTRALIA
Did You Know...
Did You Know...
Brief Timeline of Australia (with China)
Human habitation of Australia commenced over 40,000 years ago, by the indigenous Australians (aboriginals)
1606 discovered by Dutch explorers
1770 claimed by the British
1788 British settlement (penal colony)
1901 Federation
Evidence of earliest human in China is 67,000 years ago But hominid fossils date back
millions of years
Late Ming Dynasty
QING Dynasty Putuo Zongcheng Temple is
completed
Siku Quanshu (Imperial collection of Four) encyclopedia is completed
Xinchou Treaty / Boxer protocol
AUSTRALIA CHINA
Population density
Immigration
Spoken language
Religion
Australian Constitution
Australian Government
Australian Government
Overview of the Australian Political System
WESTMINSTER SYSTEM OF
GOVERNMENT
PARLIAMENT
SenateHouse of
Representatives
JUDICIARYinterpret &
enforcePolice, Courts,
Prisons
EXECUTIVE
give the royal assent
Governor General
PARLIAMENTARY BILL
ACT OF PARLIAMENT
COMMONWEALTH
Overview of the Australian Political System
WESTMINSTER SYSTEM OF
GOVERNMENT
PARLIAMENT
Legislative CouncilLegislative Assembly
JUDICIARYinterpret &
enforcePolice, Courts,
Prisons
EXECUTIVE
give the royal assentGovernor
PARLIAMENTARY BILL
ACT OF PARLIAMENT
STATE (NSW)
Activity
• What is Australia’s biggest export?
• Who is Australia’s biggest customer? – What country buys most of our imports?
EXPORTS
Deadly Creatures!Table activity
As a team:
1. Name each of these creatures
2. Guess which one is the deadliest– (causes most deaths
in Australia each year)?
Saltwater Crocodile
Box Jellyfish
Blue Ring Octopus Brown Snake
Great White Shark
Deadliest?
Box Jellyfish
AGENDA• Intro• Geography• Government
Australia
• Structure• Qualifications Framework• Quality Assurance• Pathways
Australian Education
System
• Stakeholders• National Training Information Services• Courses and Qualifications
VET System Overview
• Q&AQuestions
• Overview of the South Western Sydney InstituteSWSI
EDUCATION IN AUSTRALIA
Today‘s Learner
A recent study estimates that
Today’s learner will have 10-14 jobs...
by the time they are 38
That’s a new job/role every 1.4 yearsacross multiple employers
Most learners will have excelled in their starting CAREER,
and commenced a NEW CAREER by the time they hit their mid 30s.
Schools Vocational Education
and Training (VET) sector
职业教育和培训部
Higher Education
sector
大学
Australian Education System澳大利亚教育体系
Schools sector
Schools Sector
Primary• Age 5 to 12• 7 years
Junior Secondary• Ages 12 to 16• 4 years• Year 10
Certificate
Senior Secondary• Ages 16 to 18• 2 years• Year 12
Certificate
Vocational Education and Training Sector (VET)
职业教育和培训部 (VET)
Traineeships & apprenticeships TAFE RTOs
Vocational Education and Training Sector (VET)
职业教育和培训部 (VET)
Traineeships & apprenticeships TAFE RTOs
Vocational Education and Training Sector (VET)
职业教育和培训部 (VET)
Traineeships & apprenticeships TAFE RTOs
Higher Education sector 大学
Schools Sector Accreditation
• Senior Secondary Certificate of
Education
Vocational Education and Training Sector Accreditation
• Vocational Graduate Diploma
• Vocational Graduate Certificate
• Advanced Diploma
• Diploma
• Certificate IV
• Certificate III
• Certificate II
• Certificate I
Higher Education Sector Accreditation
• Doctoral Degree
• Masters Degree
• Graduate Diploma
• Graduate Certificate
• Bachelor Degree
• Associate Degree, Adv Dip
• Diploma
Australian Qualifications Framework
Quality Assurance
Schools
• State Government
• ACACA
Vocational Education and Training
• AQTF 2007
Higher education
• AUQA
International Students
• Education Services for Overseas Students Act 2000
Cross-sector Qualification Linkages
Pathways
AGENDA• Intro• Geography• Government
Australia
• Structure• Qualifications Framework• Quality Assurance• Pathways
Australian Education
System
• Stakeholders• National Training Information Services• Courses and Qualifications
VET System Overview
• Q&AQuestions
• Overview of the South Western Sydney InstituteSWSI
Stakeholders in the Australian VET System
Courses and Qualifications
www.training.gov.au
AGENDA• Intro• Geography• Government
Australia
• Structure• Qualifications Framework• Quality Assurance• Pathways
Australian Education
System
• Stakeholders• National Training Information Services• Courses and Qualifications
VET System Overview
• Q&AQuestions
• Overview of the South Western Sydney InstituteSWSI
Questions?
International Economics
Lesson 1
Introduction
Introductions
Make a short, 1 minute, verbal presentation (you can stay in your seat for this) and answer the following questions:– What is what is your name?– Why did you come to Australia? (all of the reasons)– How do you think Australia will be different from your home in
Denmark?– What do you hope to get out of your time here? – Are you fearful of anything in your trip? (you don’t need to answer
this if you don’t want to)– What will you miss most about home during your stay? – What do you plan to do after leaving your current school? (e.g.
University, work, travel, world domination etc.)
You have 5 minutes to prepare
The course, of course!
• You are required to undertake some reading and/or homework every week.
• 3 types of assessment:– A short quiz every week (except week 1 and week 5)– A mid-term test (week 5)– A research report on international trade comparing Denmark,
Australia and one of Denmark’s major trading partners (due week 9)
• Results for the assessments will be available the following week.
• Make sure you bring your course outline, your textbook and notes from previous weeks with you to each class
What is trade?
• Trade might be defined as the buying and selling, or exchange, of goods, services or commodities between 2 or more interested parties.
• Trade can be domestic (within a country), OR international (between countries).
• International trade is the focus for your course in Australia
Exports and Imports
• What are exports?• What are imports?• What is “balance of trade” otherwise
known as?
Some definitions for trade
• Imports – the goods and services one country brings in (i.e. buys) from another country or countries
• Exports – the goods and services one country sends out (i.e. sells) from another country or countries
• Imports and exports are usually measured in value – DKK, USD, AUD etc. Comparative figures worldwide are often measured in USD (in the EU it is, of course, the Euro)
• The difference in value between imports and exports is a countries “balance of trade” or “net exports” (NX). We will discuss this later in the course when we look at the concept of “balance of payments”)
How does trade relate to other economic principles?• Trade is a fundamental part of
economics.• Economics is (as you know) about the
study of “how…resources are allocated to fulfil(l) the infinite needs of consumers” (Blink and Dorton, 2011, p.3)
• The way we get the resources and end product to consumers is by trading, both domestically and internationally.
Specifically some of the key concepts you need to apply are:
– Scarcity– The economic problem– Opportunity cost– Production possibilities
(and the curve)– Supply and Demand (of
course!)– Consumption– Investment– Fiscal policy (Government)– Unemployment/
employment– Inflation/prices
– Markets – The business/economic
cycle– Productivity (especially
labour)– Labour and capital
intensivity– GDP – Economic growth– Globalisation– Economies of scale– Price discrimination– Market leakages and
injections
Why trade then?
• Lower prices• Greater choices (consumption and investment)• Better resource allocation or ability to access
resources not available in the country• Specialisation and economies of scale• Increased competition• More efficient allocation of resources• Source of foreign exchange
Blink and Dorton 2011:260-261
It is time to participate in some free, voluntary trade!• You are a country. Come up with a name for yourself!• Decide what you focus will be as a country i.e. your
trade in stock. Minerals, IP, IT/IS, consumer goods, labour, manufacturing steel components or auto parts.
• You will each select 3 x “goods” to trade with selected countries ( I will select the countries you will trade with)
• There will be 2 rounds of trade. I will explain each round to you before each round starts.
• We will have a discussion at the end of each round.
It is time to participate in some free, voluntary trade!• At the end of the 2 rounds you will decide:
– What you will consume domestically (i.e. keep for yourself)– What you continue to trade with other countries (i.e. swap with
someone else)– What you decide to grant as foreign aid to poorer countries
(what you give away because you feel sorry for your poor friends who were left with worthless “goods”)
And now for some research!• In order to truly understand trade, you need to start
looking at what countries actually do in their trading and who they trade with. Research and answer the following questions:– Which countries are the top 5 trading partners for Denmark for
imports AND exports of goods (do both)?– What was the approximate value (in DKK) of all exports and
imports undertaken by Denmark on a monthly basis for January to November 2011? What is the approximate proportion of this that the EU represents?
– What are the top 5 import and export sub groups? (don’t use SITC groups but the sub-groups e.g. “meat and meat production”)
• Please undertake your research in English from Statistics Denmark at www.statbank.dk
Homework for next week
• Finish your internet research if you haven't already done so
• Read chapter 21 of Blink and Dorton (2011)
• Do “Student workpoint “ 21.1(p. 261)• You won’t be handing these in but we will
review the homework every week.
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Thank You!
• Coming weeks– Ch 21 – Why Do Countries Trade?