By Jack Kirkwood Back at the beginning of the 21st century, cash was still king and the Reserve Bank of Australia (RBA) wanted to keep it this way. Cash was – and still technically is – the most efficient way for a consumer to complete a payment. Unlike cash sales, merchants must pay a small transaction fee to complete the purchase made every time you tap a card. This fee was the initial issue when card payments first entered the mainstream because retailers simply increased

By Shreya Nidumolu These days, businesses and marketers use the allure of exciting experiences, small joys, and an inescapable FOMO for all things glamorous to their advantage. Young adults in particular are willing to splurge on fun , an escape that is otherwise infrequent between job-hunting, gruelling education, and limited financial freedom amid uncertain economic times. While homeownership seems largely impossible, the instant gratification of tickets to popular experien

By Aidan Luther In the lead-up to the 2024 Queensland state election, the incumbent Queensland Labour Party promised a 6-month trial of a bewilderingly simply new fare scheme for public transport: a $0.50 ticket available to all passengers on every public bus, train, tram and ferry route throughout the state at all times (the 50c Policy). The policy was so attractive that the Liberal National Party (LNP) of Queensland matched Labor’s promise for a 6-month trial, won the elect

Exploring how two universities aim to become one.

By Grace Harkins The Reserve Bank of Australia (RBA) is Australia’s central bank and is independent from, but also accountable to, the government in power. The RBA has recently, early June, again surprised most economists, borrowers, and financial markets by raising the cash rate by 0.25 of a percentage point, pushing it to 4.1%. What is all the fuss about? This decision caught many off guard, as most experts anticipated that the rate would remain stable for longer than just

By Chetan Khanna As university students, you might be wondering how this wage dispute affects you. Well, you might work in retail or fast food, or you might be studying economics and interested in how the labour market operates. Allow me to catch you up! The Australian Retailers Association (ARA) recently called for a 3.8 per cent increase in minimum and award wages for retail and fast-food workers due to percentage increase of real wages set to fall to levels similar to thos

By Chetan Khanna Gold is widely known as the ultimate safe-haven investment, particularly during times of crisis. It's a hedge against inflation, a store of value, and a tangible asset that can be used as collateral. Despite some ups and downs, gold is a solid investment that continues to draw the interest of investors. In 2023, gold prices are expected to hit record levels, according to commodity strategists. Turmoil in the global banking sector, central banks nearing the en

By Judah Tan Rewatching The Office, I once again received immense comedic utility from Creed Bratton’s beautifully chaotic handling of Dunder Mifflin Paper Company, Inc. as temporary Regional Manager. “NEW MGR”, “B.O.B.O.D.D.Y.” and “Biznus” are artistic masterstrokes, but what exactly does all this have to do with economics? Despite being the longest-serving employee of the company, Creed is an almost utterly incompetent and shirking office worker. When seen at his desk, he

By George Young Money. Inflation. GDP. Supply. Demand - Boring. From a surface level, economics deals with big and important topics about how countries handle their finances. So, what does it have to do with everyday people like me? Why should I care about international trade or interest rates? I’m not a banker or a politician. Unlike finance or accounting, economics isn’t a tool but a social science. Economists observe a system that has evolved naturally over thousands of

By George Young and Kyle Scott Earlier in the year we wrote an article about troubles in the Australian housing market . We outlined some key issues associated with the current housing bubble, notably the restricted supply due to zoning laws/development times and overstimulated demand (encouraged by government initiatives). This is occurring amidst an already tumultuous global market experiencing energy crises and “long-covid” economic fallout. Major bubbles in the last 20 ye

By Mahya Panahkhahi “It is a truth universally acknowledged, that a single man in possession of a good fortune, must be in want of a wife.” This is how Jane Austen begins her infamous novel, Pride and Prejudice. From the opening line it becomes pretty clear that the novel is about love, but just like most romantic stories set in 19th century England, is also very much about money. For those unfamiliar with the plot, it revolves around the Bennet family, with Elizabeth (“Lizzy

By Jasper Roberts On the 23rd of May 2022 Anthony Albanese was sworn in as the 31st Prime Minister of Australia. After countless weeks of riveting debate, finally we have a newly formed government. It was an election campaign full of surprises, slogans and statistics! Both sides made promises in an attempt to woo the people of Australia. Both parties had some policies and good ideas however one question that was either avoided or not asked was how these policies and promises

By Maia Hodge Our progressive society has made brave strides for equality between all genders as of late. However, should we also be placing a greater emphasis on the unique responsibilities of women in a pursuit for equity over equality? Gone are the days where a woman’s sole purpose was to keep the house and mind the children, and workplaces are generally more inclusive of female employees. Women can pursue careers that may have previously been considered too demanding, and

By Jessica Marnie Have you ever asked for a pay rise? The answer is likely no, and neither have I. After all, what bargaining power might a student have to bring to the table in such a discussion? You may be interested to know that wage growth, the rate at which wages increase, has been extremely slow in Australia for several years. With inflation picking up around the globe, the cost of living is going up. Many are anticipating an increase in wages. So, should we expect to s

Words By Kyle Scott and George Young Housing! It seems that the housing crisis has finally come to the forefront of every-day economics. Housing, is essential for any economy to provide a productive and satisfied population, not to even mention the ethical fallout that occurs from a lack of housing. Looking at the current market, it wouldn’t be uncouth to say that Gen Z are faced with a distinct dilemma - how to get on the property ladder when prices only go up and up? How ca

By Adelaide University Economics Club There is near consensus among economists that a carbon tax is the most efficient method in reducing greenhouse emissions. It is therefore puzzling that political leaders around the globe remain stubborn in their opposition to such a tax. Take, for example, Prime Minister Scott Morrison’s recent comments during a speech at the National Press Club in which he announced that his Government ‘will not tax our way to net zero emissions’ and tha

By Max Douglass In the late 18th century, a new species began to emerge. Its emergence coincided with the rapid structural changes to economies around the world, and its behaviour would influence innumerable generations of economists and sociologists. Such a creature was not identified by a zoologist, nor a botanist, but by the mere social scientist. This creature? The homo economicus . The rational, maximising, lonesome and isolated individual who, by all accounts, will cons

By Georgia Wiley. After two years of studying Development Studies I sold my sold and moral superiority to transfer into Economics. My first-year econ courses were largely dominated by commerce students, resentful that BES is compulsory (rational people). As my degree went on, the majority of the commerce kids filtered out leaving only those of us devoted enough to write “at equilibrium” as nauseam. As my cohort shrunk I made two discoveries about economics that I really shoul

By Eric Pan. Did you know that Australia has the highest minimum wage in the world in 2019 when adjusted to inflation and purchasing power? Hell yeah! You might say. Higher minimum wage means that we can make some decent pocket money at a part-time job and still enjoy ourselves while we toil and moil at uni. But how does minimum wage actually work? Technically, the minimum wage is the minimum amount of remuneration employers must provide to workers for work period, which cann

By Grace Harkins Despite Beijing’s resolution of maintaining a zero-COVID tolerance plan, around 96 cases in the city have been uncovered since mid-January and at least 200 cases inside the Olympic bubble since its opening. The reality of a covid bubble is that Beijing Olympics could cost China $38.5 billion, 10 times higher than the initial estimate of $3.9 billion. Dozens of expenses were classified as “capital improvements” rather than official Olympic costs, namely the $9