Senior Economics students at CHAC were fortunate to participate in a seminar delivered by Fiona Price and Kellie Bellrose, Economists representing the Reserve Bank of Australia (RBA).
Initially, our knowledge and understanding of monetary policy was reinforced as core functions of the RBA were explained. The key objectives of maintaining internal price stability (underlying inflation at 2-3% over the cycle), and sustaining economic growth (3-4% over the economic cycle) were clearly relayed to the keen Economics students from Years 11 and 12. Following on from this, students examined current economic conditions from overseas markets and within which are acting upon the Reserve Bank's decision to maintain the cash rate at historically-low levels.
For our Year 12 Economics students, the seminor provided an excellent opportunity to consolidate their learning on macroeconomic management with an emphasis on Monetary policy. Year 11 students were able to examine how a market operates, and what role the RBA plays in manipulating the cash rate to influence consumption expenditure and aggregate demand.
Year 12 students commented that the seminar was 'informative, interesting and provided clarity of key concepts'.