Real World Economics 2013/05/22 Updated
Category: Featured Stories

With the Australian Federal budget being presented last week, the National Australia Bank’s (NAB) Group Chief Economist Mr Alan Oster has been travelling throughout the region to provide an overview of the budget and its potential outcomes. As he does each year, Mr Oster took time to come to AISHK to provide a recap and an open question and answer session for senior Secondary Division students studying Economics and Business Studies.

An excellent presenter, Mr Oster broke down important technical aspects of the budget and provided students with some clarity on how they might have an impact on business trade as well as individuals and families. There was particular interest from students with regard to the Australian dollar and what economic aspects could have an impact on its fluctuation.  
“Students were given a good demonstration on how relevant economics is to their lives. Overall, it was a good snapshot of the world economy and the Australian economy that married theory to the real world of economics,” said HSIE teacher Mr Henryk Flak.

Mr Flak himself is an economist, having worked for the National Treasury between 1991 and 1998, where he was involved in looking at looking at a number of areas including the international economy and structural issues. It was during his time at the Treasury that his paths crossed with Mr Oster. The two took time to talk together after the presentation.

“Unfortunately, my claim to fame was spilling coffee all over Mr Oster’s yellow shirt,” said Mr Flak. Luckily, Mr Oster had forgotten the incident and any event that he would have not taken kindly to, involving the young graduate economist.
Mr Alan Oster discusses forecasts for the Australian economy with students during the talk.
Seeing and hearing from high profile people who are at the top of their field is a privilege for our students and they made the most of the opportunity by asking plenty of questions. The discussion complemented what they are learning in their HSC and IB courses by reinforcing what they are learning in the classroom at a practical level. These occasions also allow students to gain an insight into careers that are relevant to their studies. We encourage students who find particular fields such as economics interesting, to pursue them at university level and investigate the many career opportunities that they can stem from undertaking these studies.
Hear what Mr Oster has to say about the budget in this short video

While the report as a whole was quite gloomy, the mood at yesterday's presentation was raised by the presence of NAB’s Queensland Manager of Net Private Wealth, none other than Olympic gold medallist and former world record holder (1500m Freestyle) Mr Kieren Perkins. Taking some time to tour the school, Mr Perkins met a number of Primary students on the Green Roof and also popped in to the Aquatic Centre to see a Year 8 PE Class and talk with some star-struck students.

As a long-time corporate supporter of the school, NAB continues to play an important role in the AISHK community through sponsorship of various community events and by providing opportunities that support our students' academic and community service endeavours. These include initiatives like today’s talk and its NAB Community Service Award that is presented each year at our Primary and Secondary Speech Day.

Primary Division students got a welcome surprise when they met with NAB executive and Olympic gold medallist, Mr Kieren Perkins, on the school's Green Roof.

HSIE teacher Mr Henryk Flak catches up with
Mr Alan Oster.


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