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This paper presents a case study that reflects on teaching an economic unit, Cost-benefit analysis (CBA), to a diverse undergraduate student body at the researcher's institution. CBA is an applied economic technique that attempts to assess the economic efficiency of proposed public policies through the systematic prediction of social costs and social benefits. Students in this CBA unit are required to complete an online test, CBA report and a final examination. In the CBA Report, the students perform analytical work to explain the relationships among events, identify options, evaluate choices, and predict the effects of actions. This paper investigates the performance of four different student cohorts from 2019 to 2022. This paper aims to understand the differences in undergraduate students' learning of CBA based on the diversity among students, and in particular whether any specific student demographic (defined by gender, age, course progress level, study load and domestic vs international students) experienced a disproportional impact. The findings are then used to contribute improvement in the teaching and learning of the unit in higher education.

This report shares the findings and lessons learned from an investigation into the economics of disaggregated models for assessing and accrediting informal learners undertaking post secondary education. It presents some key economic and governance challenges for universities to consider in implementing OER assessment and accreditation policies. It also includes discussion of findings from a small-scale survey conducted by two of the authors on perceptions, practices and policies relating to openness in assessment and accreditation in post secondary institutions, with a particular focus on the "OER universitas" (OERu) concept. [This paper was presented at the OpenCourseWare Consortium Global Conference (Ljubljana, Slovenia, April 23-25, 2014).]

Education is the core of the factors that improved people for a better lifestyle and increases the level of society' development. Quality education is one of the most vital goals of Sustainable Development Goals (SDGs) due to actualizing these factors. Using relational network data envelopment analysis (DEA), which have three interrelated substages, this current paper computes the educational economy efficiency of the Organisation for Economic Co-operation and Development (OECD) countries bearing in mind the characteristics related to SDGs. The contribution of our study is the use of a novel approach to computing the educational economy efficiency using relational network DEA with GAMS. Even though some interesting differences reveal in the efficiency of the countries, the findings show that countries with high-efficiency scores are clustered around countries like Latvia, Slovenia, and Korea.

The notion of internationalization in higher education is understood as the recruitment of international students, marketing of academic programs and courses, and teaching English as a Second Language to student cohorts from Asia, Africa, and Latin America. Various models of internationalization (Knight, 2004, 2006; Leask, 2009; Pimpa, 2009; Welikala, 2011) have been explored and promoted in Canada, the United Kingdom, Australia, and New Zealand. Often, as noted in the literature, these models emphasize the acculturation of international students into the host country culture rather than a respectful exchange of academic and cultural knowledge and ideas. The central thesis of this critical reflective discussion paper is that "glocalization" in higher education is an appropriate alternative to internationalization. Glocalization advocates a positive learning experience and encourages the enhancement of learners' "glocal" experience through a critical academic and cultural exchange of global and local socio-economic and political issues. Instructional strategies supporting glocalized learning curricula are recommended. The glocalization pedagogical framework for higher education, introduced in this paper, embraces the principles of social responsibility and justice with a firm commitment to sustainable futures for local and global societies.

This paper traces attempts by two "brand-name" research universities to transnationalise: the US-based Johns Hopkins University, and the University of New South Wales from Australia. Both endeavours were located in, and supported by, Singapore, a city-state with knowledge economy aspirations. The paper explores the globalisation of the research university, and offers insights into the regimes of value that are being assembled in, and through knowledge economies. Both institutions examined in this study failed in their attempts ostensibly because of a lack of fit in goals and commitment. The paper also highlights the ethical issues that frame the globalizing rationalities of research-intensive universities and developmental states seeking competitive advantage in a neoliberalising environment.

The ideologies underpinning public/private partnerships (PPPs) have been much contested in theory, but what does promulgating a social partnership mean in practice? This qualitative research study has been "critiquing" a construct of "ecologies of learning" or "capacities of capital" for social partnerships between industry, vocational education and training (VET) and a regional community. This paper critiques one of these ecologies by exploring the discourses of social capital which present challenges for small business/community partnerships in practice. It argues that there is a need to question the impact of neoliberalism on social partnerships with VET and how the entities of industry: "fortress enterprise", the community: "fortress Australia", and governance: "terra publica" are positioned within this predominant economic rationalist discourse. It concludes that policies for "globalising neoliberalism" can be capacity reducing for promulgating social partnerships with VET at the local level.

To support broader global efforts to improve diversity and inclusion in economics, this paper provides a statistical picture of the gender composition of the economics profession in Australia and the evidence‐based initiatives taken by the Women in Economics Network (WEN) to improve women's representation and recognition. WEN's impact is evaluated across a range of metrics. This includes a case study of WEN's mentorship programme for university students that was delivered as a behavioural intervention and evaluated as a randomised control trial. Drawing on practical experiences in combination with research insights, the paper identifies some of the challenges encountered and the lessons that can be shared with similar organisations globally that are pursuing diversity and inclusion goals. [ABSTRACT FROM AUTHOR]

We used a retrospective cohort study to measure the impact of caring for children on female Australian researchers. Our aim was to see whether caring for children was associated with reduced outputs and collaboration. Women were randomly selected for inclusion if they published a first author paper in one of three Australian journals during 2007 to 2015, women who did not publish during this time were not included. One-hundred and sixty women were approached and 95 (59%) completed a survey on their history of caring for children. Two key outcomes were the women's publication and citation counts, which were accessed from Scopus. We also examined the number of authors, affiliations and countries on their published papers, as a reduction in these numbers could indicate an impaired ability to collaborate. We examined the probability of being first or last author as a measure of esteem. There was a small increase in publication counts after the first child that was reversed after the second child. Average citations counts declined after children, particularly after the second child. There was some evidence of a reduced collaboration with overseas collaborators after the first child. The probability of being the last author increased after the second child. Three women were identified as statistically influential and all three had children and were in the top 10% of overall publications and citations. After removing these women the estimated changes in outcomes were noticeably different for most of the outcomes. The repeated presence of statistically influential women shows that it may be impossible to find an "average impact" of caring for children when considering research output. Adjustments may need to be made individually, with women explaining how caring for children has altered their career. [ABSTRACT FROM AUTHOR]

Lists Australian and New Zealand working papers and research reports in the field of economics as of September 1988. Topics, Authors, Manner of obtaining copies.

Computer-Assisted Argument Mapping (CAAM) is a new way of understanding arguments. While still embryonic in its development and application, CAAM is being used increasingly as a training and development tool in the professions and government. Inroads are also being made in its application within education. CAAM claims to be helpful in an educational context, as a tool for students in responding to assessment tasks. However, to date there is little evidence from students that this is the case. This paper outlines the use of CAAM as an educational tool within an Economics and Commerce Faculty in a major Australian research university. Evaluation results are provided from students from a CAAM pilot within an upper-level Economics subject. Results indicate promising support for the use of CAAM and its potential for transferability within the disciplines. If shown to be valuable with further studies, CAAM could be included in capstone subjects, allowing computer technology to be utilised in the service of generic skill development.

A broader view of literacy has emerged as part of the larger debate about educational reform across the globe. Many now argue that availing children with additional skills in technological and media literacy will foster creativity, motivate youth, and improve their economic opportunities while increasing the core of high skilled labourers available to meet the needs of the "knowledge" economy. From Canada and England to Australia and New Zealand, media literacy has become part of the core curriculum. Within the U.S., implementation of reform in this vein has been slow and a number of informal education institutions have stepped in to meet the perceived need, augmenting the core curriculum with media literacy and production opportunities. Yet there are serious questions about what skills the children are actually learning and whether the literacy discourse is yet another attempt at ignoring persistent educational inequalities along the lines of gender, race, and class. In this paper, we consider the viability of combining critical media literacy with standpoint theory to strengthen the multiliteracies movement, offering a more critical and empowering pedagogy. To this end, we analyze an exemplary site of this approach in Los Angeles. (Contains 4 notes.)

In the first half of this paper we develop a perspective on the role of "boldness" in explaining gender differences in thinking and attitudes. We apply this analysis to evidence from Australia, the USA and the UK in relation to economics at school and university levels. In the second half we present the results of a study of over 1000 15-17-year-olds in UK secondary schools. On the basis of the gender differences revealed in these data and our preceding analysis we offer some implications for learning and teaching.

This paper surveys the writings of Peter Lloyd, one of Australia's best-known economists, who has been elected Distinguished Fellow of the Economic Society of Australia. It notes the importance of his work, mostly done jointly with Herbert Grubel, on intra-industry trade, and his extensive contributions to trade theory. In addition there have been many papers on the global trading system and regionalism, and on the Australian and New Zealand economies. It describes his approach to economics and his many professional activities. [ABSTRACT FROM AUTHOR]

Purpose – Prior research has investigated legitimation strategies in corporate annual reports in the for-profit sector. The purpose of this paper is to investigate this phenomenon in an NGO environment. It investigates Australian overseas aid agencies’ responses to criticism of the relief effort following the Indian Ocean tsunami in 2004. It aims to determine whether voluntary annual report disclosures were reflective of impression management and/or of the discharge of functional accountability. Design/methodology/approach – The paper applies content analysis to compare the structure and content of the annual reports of 19 Australian overseas aid agencies before and after the Indian Ocean tsunami. Findings – Results suggest voluntary disclosure in annual reports significantly increased post-tsunami and was more consistent with impression management activity rather than functional accountability suggesting a response to the legitimacy challenge. The use of impression management tactics differed with agency size, with larger agencies using ingratiation in order to appear more attractive while smaller ones promoted their particular achievements. Originality/value – This paper makes a contribution by extending prior impression management and legitimacy literature to an NGO environment. It has implications for the development of these theories as it looks at organisations where the stakeholders are different from the for-profit sector and profits are not the main concern. It raises issues about the concept of accountability in the NGO sector, and how the nature of organisation reporting is changing to address the challenges of a sector where access to funds is highly competitive. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to examine the likely economy-wide impacts of the complete shutdown of the motor vehicle industry on output and employment in Australia using the latest input-output (IO) table (2009-2010). Design/methodology/approach – Both supply- and demand-driven IO models are employed to determine the extent, and pattern, of the resulting output and job losses in upstream and downstream industries. An analysis of the first-order field of influence is also conducted to observe how output multipliers in other sectors respond to changes in the self-use-input-requirement of the professional, scientific and technical services (PSTS) industry. Findings – The PSTS industry (with a significant research and development (R & D) component and the highest forward linkage index) would be hardest hit with the collapse of the motor vehicle industry. Research limitations/implications – This paper identifies a number of industries that are more likely to be heavily influenced by the resulting lack of R & D in the PSTS industry in the near future. Unless more funding is allocated to other research and technology-intensive industries, the extinction of the motor vehicle industry, coupled with the recent budgetary cuts for strategic organisations such as the Commonwealth Scientific and Industrial Research Organisation, can reduce the positive spillover effects of R & D activities on the Australian economy. Originality/value – This is the first study to examine the effects of the shutdown of the motor vehicle industry on employment in Australia. The results also have broader implications for other developed countries that have declining motor vehicle industries. The findings suggest that the global decline in the motor vehicle industry can adversely affect investment in R & D in upstream and downstream industries. More generally, the results suggest that the shift in motor vehicle production to developing countries, will contribute to increased R & D intensity in them at the expense of developed countries. [ABSTRACT FROM AUTHOR]

The article reports on developments which are of interest to economists. The Program Committee for the 2005 Australian Conference of Economists has bestowed the Economic Society's prize of Best Paper to Ralph Bayer and Susana Iranzo. The A. R. Bergstrom Prize in Econometrics for 2005 has been given to Ryan Greenaway-McGrevy and Leo Krippner. The Economic Society of Australia is calling on economists to participate in the 35th Australian Conference of Economists which will be held on September 25-27, 2006 at the Curtin University of Technology.

This paper describes how, in response to a government request, the Economic Society of Australia (ESA) prepared a ranking of economics journals for use in Australia. ESA commissioned the writer to manage the process and it was agreed that the journal ranking should be based on a survey of all professors of economics and econometrics employed in Australian universities. Following the development of the rankings, Heads of Economics Departments were asked in a follow-up survey whether they viewed the process and the results as acceptable or whether amendments should be made. ESA concluded, as does this paper, that the process and the results were credible and generally accepted and that the findings should not be altered on an ad hoc piecemeal basis. ESA also concluded that any revision of these rankings should be based on a similar transparent process of consultation with the profession. Details of the rankings of the journals surveyed can be found on the ESA website. [ABSTRACT FROM AUTHOR]

Inflation leads individuals to work harder to spend and not carry their money holdings. Two alternative margins have been used to model this effect: the extensive margin (the frequency of shopping per period) and the intensive margin (the average shopping time per trip). This paper investigates how inflation affects these two margins. It deviates from the previous literature by allowing individuals to vary both margins simultaneously. The analysis reveals that the impact of inflation on these two margins is determined by the interaction between the opportunity cost of carrying money and direct search costs. [ABSTRACT FROM AUTHOR]

Purpose – This paper aims to examine the importance and concept of idol attachment, model its antecedents and moderators and assess its influence on human brand loyalty. Design/methodology/approach – This paper includes two studies. In Study 1, survey questionnaires were distributed by mall intercept to quasi-random samples across Australia and Taiwan for completion and return. The return yielded 1,135 and 736 usable questionnaires, respectively, from which the data were analysed using LISREL structural equation modelling software. In Study 2, an experiment was used to examine whether idol attractiveness is likely to positively moderate the relationship between vanity traits and attachment. Findings – The results suggest that achievement vanity, variety seeking and peer norms have a positive impact on the phenomenon of idol attachment, which in turn positively affects human brand loyalty. Contradicting previous studies, the physical appearance of vanity was not found to be associated with idol attachment. However, the results of the experiment show that idol attractiveness has a positive moderating effect on the relationship between vanity traits and human brand attachment. Research limitations/implications – The findings suggest that idol attachment is more complex than previously understood. The constructs chosen in this research represent an initial step but other variables such as liking, involvement, affective commitment and brand love are not taken into account. Future research models should therefore include such variables. Practical implications – The findings contain many practical lessons for planners of marketing strategy for the music industry in an international context. Originality/value – Two existing theories of psychology are integrated with the concept of idol attachment to explain human brand loyalty in an international context. [ABSTRACT FROM AUTHOR]

In this paper, we review studies to understand how much households change their electricity consumption when there is a price change. Many studies find residential households have long‐term and short‐run elasticities behaving as economic theory would suggest. Long‐run elasticities range from −0.75 to −0.3, and short‐run elasticities range from −0.47 to −0.026. Household responsiveness seems to increase when paired with technology. The major gaps in research from the empirical economic literature are how low‐income and vulnerable Australian households could be affected by price changes and how Australians respond to within‐day variation in prices. [ABSTRACT FROM AUTHOR]

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Background: Realising the economic potential of research institutions, including medical research institutes, represents a policy imperative for many Organisation for Economic Co-operation and Development nations. The assessment of research impact has consequently drawn increasing attention. Research impact assessment frameworks (RIAFs) provide a structure to assess research translation, but minimal research has examined whether alternative RIAFs realise the intended policy outcomes. This paper examines the objectives presented for RIAFs in light of economic imperatives to justify ongoing support for health and medical research investment, leverage productivity via commercialisation and outcome-efficiency gains in health systems, and ensure that translation and impact considerations are embedded into the research process. This paper sought to list the stated objectives for RIAFs, to identify existing frameworks and to evaluate whether the identified frameworks possessed the capabilities necessary to address the specified objectives.Methods: A scoping review of the literature to identify objectives specified for RIAFs, inform upon descriptive criteria for each objective and identify existing RIAFs. Criteria were derived for each objective. The capability for the existing RIAFs to realise the alternative objectives was evaluated based upon these criteria.Results: The collated objectives for RIAFs included accountability (top-down), transparency/accountability (bottom-up), advocacy, steering, value for money, management/learning and feedback/allocation, prospective orientation, and speed of translation. Of the 25 RIAFs identified, most satisfied objectives such as accountability and advocacy, which are largely sufficient for the first economic imperative to justify research investment. The frameworks primarily designed to optimise the speed of translation or enable the prospective orientation of research possessed qualities most likely to optimise the productive outcomes from research. However, the results show that few frameworks met the criteria for these objectives.Conclusion: It is imperative that the objective(s) for an assessment framework are explicit and that RIAFs are designed to realise these objectives. If the objectives include the capability to pro-actively drive productive research impacts, the potential for prospective orientation and a focus upon the speed of translation merits prioritisation. Frameworks designed to optimise research translation and impact, rather than simply assess impact, offer greater promise to contribute to the economic imperatives compelling their implementation. [ABSTRACT FROM AUTHOR]

This paper reports the impact of a major life event–death–on the physical, psychological and social well-being of the deceased’s close friends. We utilised data from a large longitudinal survey covering a period of 14 years (2002–2015) consisting a cohort of 26,515 individuals in Australia, of whom 9,586 had experienced the death of at least one close friend. This longitudinal cohort dataset comprises responses to the SF-36 (health related quality of life measure) and allowed for analysis of the short and longer-term impacts of bereavement. In order to manage the heterogeneity of the socio-demographics of respondents who did/not experience a death event, we use a new and robust approach known as the Entropy Balancing method to construct a set of weights applied to the bereaved group and the control group (the group that did not experience death). This approach enables us to match the two groups so that the distribution of socio-demographic variables between the two groups are balanced. These variables included gender, age, marital status, ethnicity, personality traits, religion, relative socio-economic disadvantage, economic resources, and education and occupation and where they resided. The data show, for the first time, a range of negative and enduring consequences experienced by people following the death of a close friend. Significant adverse physical and psychological well-being, poorer mental health and social functioning occur up to four years following bereavement. Bereaved females experienced a sharper fall in vitality, suffered greater deterioration in mental health, impaired emotional and social functioning than the male counterparts up to four years after the death. The data show that the level of social connectedness plays an important role in bereavement outcomes. Specifically, we found that less socially active respondents experienced a longer deterioration in physical and psychological health. Finally, we found evidence that the death of a close friend lowered the respondent’s satisfaction with their health. Since death of friends is a universal phenomenon, we conclude the paper by reflecting on the need to recognise the death of a close friend as a substantial experience, and to offer support and services to address this disenfranchised grief. Recognising bereaved friends as a group experiencing adverse outcomes can be used internationally to prompt health and psychological services to assist this specific group, noting that there may be substantial longevity to the negative sequelae of the death of a friend. Facilitating bereaved people’s support networks may be a fruitful approach to minimising these negative outcomes. [ABSTRACT FROM AUTHOR]

Presents information on articles published in the June 2003 issue of the journal 'Economic Records.' Selection of papers from the 31st National Conference of Economists held in Adelaide from September 30 to October 4, 2002; Help by Australian economists for publishing this issue.

The article reports several issues and events related to economics in Australia. The South Australian Branch of the Economic Society of Australia invites all economists to attend the 38th Australian Conference of Economists (ACE) 2009 held in Adelaide, South Australia on September 28-30, 2009. The History of Economic Thought Society of Australia (HETSA) announces that the organization will already accepting applications for the 2009 (HETSA) Prizes award. The Economic Society of Australia has two publications entitled "The Economic Record and Economic Papers" and "Economic Papers: A journal of applied economics and policy."

This paper briefly outlines the many achievements of Professor Maureen Brunt, who was elected Distinguished Fellow of the Economic Society of Australia in 2006. It describes both her academic career, and her major contributions to competition law in Australia and New Zealand. [ABSTRACT FROM AUTHOR]

Lists several papers and research results in economics featured in the June 1978 issue of the periodical 'The Australian Economic Review.' Health care under voluntary insurance; Incidence of poverty; Index of official economic forecasts and projections; Demand for and supply of professionally-trained social workers; Volunteers in social welfare agencies.

Lists technical papers from the Institute of Applied Economic and Social Research in Australia. Titles and suggested prices.

Abstract: As a country largely free of the corruption that bedevils the defence procurement of many of Australia's Asian neighbours, it is generally assumed that Australia's national security interests, together with value for money, are the paramount criteria for Australia's defence procurement. This is an assumption, however, that deserves critical interrogation, particularly with respect to the influence that domestic politics can have on strategic decisions. This article investigates the Australian government's 2016 decision to acquire land‐based anti‐ship missiles. To do so, it adapts Putnam's two‐level game to a defence policy context, enabling the incorporation of both realist and domestic political factors, including the influence of interest groups. I find a plausible case that the influence of the resources sector and constituents of Australia's northwest, as well as the corporate interests of the Australian army in asserting a greater role in Australian defence strategy, may have been significant in the decision. [ABSTRACT FROM AUTHOR]

It is generally accepted among Australian economists that high rates of growth of wages at various times over the last decade have made the achievement of full employment and lower rates of inflation more difficult. Fear of a further acceleration of wage growth has also been a policy constraint. It is when one attempts to go further that considerable disagreement becomes evident. From a labor market viewpoint, there does not seem to be a consensus as to the answers to the two broad questions that should be addressed. First, how important are wage changes relative to other factors that depress employment and add to the inflation rate? Second, how does government policy impinge on the process that generates wage changes? To do justice to both of these in a paper as short as this one is difficult, so I shall focus most of the paper on the second question.
The relationships between government policy and wage changes are particularly important at this time. For most of the last decade, successive governments have operated a national wages policy, which to a large degree has been based on the indexation of wages for past price changes. The latest experiment, the Prices and Incomes Accord, is the centerpiece of the current government's employment and inflation policy, and, after almost two years of wide community and media support, the key principles upon which it is based are suddenly being questioned.[1]
Our prime endeavor, therefore, will be to build up sufficient understanding of the wage determination process so that some evaluation can be made as to the effectiveness of these national wage policies. This turns out to be a remarkably difficult task which generates considerable concern in our mind that the data may not be sufficiently rich to serve as a basis for sound judgments. It does appear, however, that the effect of a given level of unemployment upon wage changes has consistently weakened over the last decade. Why this should be so is a major... [ABSTRACT FROM AUTHOR]

The article announces various economic-related information in Australia. Professor Alan Woodland has been elected to receive the award as the Distinguished Fellow of the Economic Society of Australia for 2008. The 38th Australian Conference of Economists will be held at the University of Adelaide in South Australia on September 28-30, 2009. The Best Paper Prize has been awarded to Nikola Dvornak and Marion Kohler for their paper entitled "Housing Wealth, Stock Market Wealth and Consumption: A Panel Analysis for Australia," Volume 83.

Purpose -- This paper proposes a perspective of change agency that builds on the regenerative power of language achieved through ongoing talk and conversations associated with managing change. It seeks to elaborate on the role of speech in helping one to see change as a continuous stream of socially constructed utterances. Design/methodology/approach -- Configurations have played a central role in determining the extent of fit or misfit between entities -- a prelude for steering change and modes of intervention. Much of the reliance on the notion of fit or misfit between entities has been largely driven by conceptions of organizations as consisting of objective entities. But change is not separate from its own construction; conduct of change is deeply rooted in meanings people attach to events. The paper develops a constructionist perspective of change agency; one that builds on the role of language in constructing change. Findings -- The social construction of meaning remains crucial for building connections with organizational identity. The main finding is that there is a very rich meeting point where both language and social construction converge to find each other. For change to take root, change agents would need to emphasize the social co-construction of meaning and to focus on the role utterance plays in the formation of organizational identity. Originality/value -- The paper develops a constructionist perspective of change agency (regenerative and transforming qualities); one that builds on the role of language in constructing change. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to focus on one strategy known as "The Balanced Scorecard", discussing the growing importance of balanced scorecard performance systems, exploring issues that organizations face in building and implementing scorecard systems, and sharing lessons learned from Australian organizations that have taken the balanced scorecard journey. Design/methodology/approach -The approach taken is the case study methodology to depict the real world examples of organisations that have confidence in the "Balanced scorecard performance system" so that other organisations can follow suit. Findings - The paper concludes that the balanced scorecard approach may require some substantial changes in culture within the organization. The balanced scorecard requires understanding, commitment and support from the very top of the business down. The balanced scorecard will evolve. As culture changes and develops to accept the new approach and members of the organisation mature within the new culture, the organisation will find new things to measure, new goals in different areas, to make the balanced scorecard even more balanced and effective in supporting a living, growing, viable organisation. Different organisations have quite different needs, market areas, people, products and services, and will end up with significantly different balanced scorecards. Research limitations/implications - The outcomes were based on two multinational corporations and may differ with small and medium enterprises. Practical implications - The balanced scorecard is balanced in another dimension - not just a balance of measures of essential areas of the business, but also a balance of goals versus accountability. If people do not accept accountability for achievement of the balanced measures and goals of the balanced scorecard, there is no balanced scorecard. The people of the organisation are the key to the success of the balanced scorecard system. Originality/value - The paper specifically looks at the implementation of the "Balanced Score Card Performance Management System" in Australian corporations. [ABSTRACT FROM AUTHOR]

This paper argues that detailed studies of particular economies, such as Bob Gregory's work on Australia, are relevant to all of economics. The paper builds on the concept of a model species from biology to develop the notion of a model economy – one whose experiences illuminate fundamental economic issues; examines the criterion for an economy to serve as a model economy; and describes three areas – labour relations and the awards system of wage-setting, marketising public services and growth through immigration and natural resources – where Australian experience provides insights into economic behaviour and the operation of markets broadly. [ABSTRACT FROM AUTHOR]