Keeping up to date for HSC Economics can seem tough with new things happening around the world every second!
But it’s particularly important because you can use them as case studies and expand your knowledge of Economics.
Here are some news outlets which can help you stay up to date for HSC Economics!
Why You Should Stay Up to Date
Simply knowing the content for the HSC Economics course won’t get you a Band 6. It might get you a low Band 5.. If you’re lucky.
What distinguishes a Band 6 (and State Ranker) HSC Economics student from the other 6,000 students who sit the course each year is the degree to which you are familiar with what’s happening in the Australian and global economy, and your ability to apply it as examples to support economic theory.
Reason #1: In an exam paper there’s always 10-15% of questions that are ‘outliers’
These are unexpected questions that don’t necessarily fit the typical mould that require an in-depth understanding as opposed to rote memorising of the content.
It’s also these questions that top performing students get correct, thanks to staying up to date with the economy.
Reason #2: Showing that you’re up to date and intimately understand the economy is something the HSC markers look for
On the HSC Exam papers, at the top of each section it provides the ‘Marking Guidelines.’
Most students skip right over these in in a rush to get to the question, but they’re actually really important. Why? Because it’s where the Board of Studies is telling you what you need to do to score top marks.
See this example here:
You’ll note that it specifically states: “apply relevant economic information, terms, concepts, relationships and theory” = USE LOTS OF ECONOMIC DATA…
If you don’t use economic data – you’ve pretty much capped your essay at a Band 5 (maximum!) Therefore, to get the Band 6, you need to stay up to date with what’s going on in the Australian and Global economy.
What is it?
My absolute favourite way to stay up to date is to watch BBC World Business Report every night that I’m able to.
I love everything about this show.
World Business Report provides an economic snapshot into the latest in the world of business and money.
The show lasts for around 8 or 9 minutes and is the perfect length of time to watch whilst eating a healthy snack or dessert.
Enough about my thoughts though, let’s hear about it from my favourite anchorman, Australian-born Aaron Heslehurst.
How do I get it?
BBC World Business Report is repeated on the BBC channel multiple times each day/night and there are also podcasts that are uploaded to the website on a daily basis.
This show can be accessed for free!
I’ve included links to the podcast here.
I personally recommend watching this show to stay informed. You don’t need to watch every night but they are only very short. The reports are interesting and funny and cover many diverse areas of the business world.
This show covers:
- Currency changes
- Interest rate changes
- Inflation rates (including hyperinflation)
- The oil price / oil price changes (including OPEC responses)
- Technology revolutions/breakthroughs
- Banking crisis
- Political crisis (e.g. Greece / British Exit from the European Union i.e. Brexit)
- International trade deals
- + Other breaking economic news
Here is Aaron mistakenly saying ‘Breakfast’ instead of ‘Brexit’
What is it?
SBS World News offers a more thorough, in-depth coverage of world affairs and breaking news.
I like to watch SBS if I have more time to unwind and watch the news, or if I feel like watching a more comprehensive business report.
It’s probably not as interesting as BBC World Business Report but it still offers great insights into our current world of economics.
How do I get it?
SBS World News is on nightly at 6:30pm. You can view it on free-to-air television by switching over to channel 30.
SBS World News is not as focused or targeted on economics as BBC World Business Report however they complement each other extremely well. I would suggest alternating between the two depending on how much free time you have.
Exploring Google News is also a great way to stay well-informed of current economic and business news.
You can personalise the search results as well as search for specific search terms.
Clicking the ‘business’ tab on the left hand side is a great way to narrow the search results. Also searching for ‘economics’ leads to many articles that are directly relevant to you as a HSC Economics student.
Another great way to keep with current economic affairs is by reading the RBA’s monthly minutes.
Every month the RBA meets to make a decision on monetary policy. In the following days they then publish a comprehensive set of minutes from their meeting with their rationale for the cash rate decision.
In this rationale, they include A LOT of information about the current state of the domestic and global economy, so it’s a fantastic way to get monthly up to date statistics and trends in the quickest amount of reading time possible!
Each month our HSC Economics teaching team at Art of Smart Education shoot a talk-show called the HSC Economics Review (#HER).
In these videos we discuss the latest updates in the global and domestic economy, and do a deep dive explaining why these changes have occurred and analysing the impact of these changes for Australia.
This analysis is key for your essays to score a Band 6, so watching these videos is a fantastic way to level up your critical analysis in your Economics essays.
- Australian Financial Review
- The Economist
- Sydney Morning Herald Business
- Sydney Morning Herald Business by Ross Gittins
- Ross Gittens
- The Australian
- UBS Australia
All of these sources for economics news are fabulous ways to stay up to date in the world of economics.
Looking or watching some economics news whilst waiting in a line is a great use of time. Around 10 minutes each day is all you need to stay up to date with would economic affairs.
You’ll feel better prepared to participate in classroom discussions, answer extended questions on particular issues and apply the theory of HSC Economics to the real world.
Looking for some extra help with your HSC studies?
We pride ourselves on our inspirational HSC coaches and mentors!
We offer tutoring and mentoring for Years K-12 in a variety of subjects, with personalised lessons conducted one-on-one in your home or at our state of the art campus in Hornsby!
Thomas Woolley loves Economics and Business Studies. He completed his HSC in 2013 and has been working at Art of Smart since 2014. He enjoys helping out his students whilst studying B Commerce / B Education at UNSW to become an actual economics/business studies teacher in 2018. Since high school Thomas has also learned to scuba dive, salsa dance, and he can fly a quadcopter like a pro. However, he still cannot skateboard.