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Why Employers Don’t Really Care What You Have Learnt at University

By Richa Deshpande

Have you ever sat in an Econometrics lecture listening to the lecturer mumble something about confidence intervals, lines of best fit etc – concepts which simply go in one ear and out the other? Where the most interesting part of the lecture is checking Facebook on your phone every minute to see if anything has changed or anxiously checking your watch to see when class will end?  Why is it that we bother to turn up to lectures at all when we aren’t interested in the subject? Often it is required to complete a specific major or course, which relates to the career path we want to enter.

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Why Public Spending does not Stimulate the Economy

By Collin Li

A common misconception is that increases in government spending will stimulate the economy. The logic offered to support this argument often describes how government spending will end up being paid as income to either business owners or workers,

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‘Black hole’ in the system threatens good public policy, Moran Says: Deakin Policy Forum 2012

By Joan Wu, ESSA Events Director 2012

Terry Moran, former Labour secretaryDuring a speech at the Deakin Policy Forum this week, Terry Moran called for more accountability and transparency in our troubled system of government. Moran, former secretary to Prime Ministers Kevin Rudd and Julia Gillard, was quick to emphasise that it is not the quality of civil service, which is exemplary, but rather the nature of parliamentary democracy in the current system that is to blame.

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Economics in the Workplace: Consulting Internship at Deloitte

Okay, so as you are reading this, you may or may not have been sold on ESSA’s mission and vision to show how economics helps you in the industry. During this article, I would like to cement the view that economics helps in the workforce.

During the summer, I joined Deloitte for my internship, in Consulting (Strategy and Operations). This was a great experience and really helped to put to use the theories and skills we learn at university. During my project, there was a lot of economics, finance and accounting. However, economics really made it easier to decipher and get through the relevant tasks throughout the project.

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Standing in the Way

Sourced from Uncommon fritillary (Own work)

By Brendan Law, ESSA Vice-President 2012

The essence behind Free-Market ‘capitalism’ is the idea that the provision of incentives, say, a profit-motive, or some significant tangible benefit, create a response within a particular market that allows it to organise itself, and for goods to be produced in the most efficient way, in the desired quantities and prices.

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Globalisation

By Collin Li

My opinion is that globalisation is essential for dealing with poverty. While programs like World Vision’s Area Development Program may be helpful, I would argue they are only a small part of the effort in relieving poverty, because while the motive may seem more pure, it may be a smaller pool of energy to draw from. I would argue that the profit motive, provided by globalisation, has a far greater and wider appeal, as I believe people are inherently interested in their own well-being than others’.

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Economics is for the People

By Collin Li

When an economic debate descends into something along the lines of “the economy exists in order to benefit the people – not the other way around,” you should reply:

But what is an economy other than many millions of people interacting daily?

Let’s not understate the reach and application of economics – it infects every facet of society.

(By definition in economics, individuals in a marketplace trade according to their “utility” – a term used to capture the personal values of each individual, thus allowing the individuals to maximise their well-being in the marketplace.)

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