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By Tabatha
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United nations
An intergovernmental organization founded in 1945 to promote international cooperation, peace, and security among nations. Its goals include addressing global issues like human rights, humanitarian aid, and development.
Universal Declaration of Human Rights (UDHR)
1948
An international document adopted by the UN that includes the rights and freedoms of a human being that applies for all people purely on the basis that they are a human
Article 1 of the UDHR
Everyone is born free and equal in dignity and with rights
Emmet Till
14 year old boy who in 1955 was brutally kidnapped, beaten, shot in the head, tied to a metal fan and tossed into a river by 2 relatives of a woman who he allegedly harassed at a grocery store.
The 2 men, besides the overwhelming evidence posed against them, were not prosecuted and one of them admitted to committing the crime years after
all white jury
Rosa Parks
Coined the mother of the civil rights movement
A civil rights activist who, on the 1st of December 1955 refused to give up her seat in the ‘Black section’ of a bus for a white man.
For this, she was arrested and brought to court and fines $10 for the offence and $4 for the court fees neither of which she paid
This sparked the beginning of the bus boycott
Montgomery bus boycott
Started 5th of December 1955 and lasted until 21st of December 1956 -381 days
African Americans took up approx. 70% of bus users
on the 20th of December 1956, the courts deemed bus segregation unlawful and integrated the buses on December 20th
Martin Luther King jr
Baptist minister and social activist
led the 1963 march on Washington- i have a dream speech
Was awarded a Nobel peace price in 1964
Assassinated April 4 1968
March on Washington
1963
over 250 000 people gathered in Washington D.C to advocate for the civil and economic rights of African Americans
Little Rock 9
In 1957, 9 black students enrolled in Central High School in Little Rock Arkansas
Governor Faubus called in the national guard to block their entry
President Eisenhower sent in federal troops to escort them into school
in 1958, Faubus closed all high schools to stop black students from attending and they stayed closed until 1959 August
Terra Nullius
Empty or Land belonging to no one
Struggles for Aboriginal and Torres Strait Islander peoples
Diseases
Due to new diseases being spread like measles and small pox, within 10 years of the first British colonisation, 90% of Aboriginal settlements in NSW perished
Aboriginal Protection Boards
Govt. institutions responsible for regulating the lives of ATSI peoples
Day of mourning
1938
Led by William Ferguson, William Cooper and Jack Patten
150th anniversary of the first British colonisation
Day to mourn the loss of country, freedom, and the death of their people
Argue that Aboriginal and Torres Strait Islander peoples should be entitled to the same civil and political rights, should be counted in the Australian population and should be given citizenship
Became an annual holiday to celebrate aboriginal culture and was moved into July for NAIDOC week.
When was it first made possible for all Aboriginal and Torres Strait Islander peoples to vote in Australia
21 March 1962 though it wasn’t made compulsory until 1984
Bark Petition
Petition written on bark presented to the house of reps in 1963 to protest against PM Menzies wishes to build a mine on the Yolngu peoples land without making them aware of it first
This was the first native title litigation in Australian History
Australian freedom riders
A group of Sydney uni students who travelled to rural NSW to expose to wider Australia how Aboriginal and Torres Strait Islander peoples were treated there
Led by Charles Perkins- an Aboriginal Activist
12-27 Feb 1965
1967 Referendum
Enabled the commonwealth to make laws for Aboriginal and Torres Strait Islander peoples and included them in the national census
90% of voters voted yes
Gurindji Strike (Wave Hill Walk-Off)
Began August 1966- lasted 7 years
200 Gurindji stock men, domestic workers and their families were led by Vincent Lingiari to leave Wave Hill when they were being treated unfairly and unjustly paid
They requested for 3000km² land to be given to them
Wave Hill eventually gave up and gave it to them
PM Whiltam
in 1972, he said that one of his main goals for his presidency was to restore the rights to ownership of land to all Aboriginal and Torres Strait Islander peoples
Mabo
1982
A group of Meriam peoples from the eastern Torres Strait lodged a case with the High Court for legal ownership of land
June 1992, 6/7 judges voted yes and introduced the principle of Native Title to the Australian legal system
Native title act
in 1993 the Mabo decision was put into statutory law
Stolen Generations
the Aboriginal and Torres Strait Islander children who were forcefully removed from their families between 1910 and 1970 by Australian state and federal government agencies and church missions
1 in 3 Aboriginal and Torres Strait Islander children were taken
1 in 5 of those children were fostered/adopted
1 in 10 were put in institutions and reported being abused and never paid for their work
Bringing them home report
Recommendations
the Australian government should set up and fund a system that reconnects members of the stolen generations to their lost families
All the Australian state and federal governments should issue an apology
1997
The Apology
in 2008, PM Rudd issued an apology to all ATSI peoples, following reccomendation 2 of the Brining them home report
Apologised for all the past mistreatment
Contemporary reconciliation
the movement for Aboriginal Civil rights and the process of reconciliation continues to this day. since the 1960s, there has been much change in Australia in an attempt to right the wrongs of Past generations and to support Australia’s Fist nations peoples right to self determination
Macroeconomics relevance to businesses
Knowing the state of the economy helps plan strategy, future investments and estimate profits
Macroeconomics relevance to Citizens
Make informed decisions on employment, purchasing of major assets, investments, wealth creation and votinf
Macroeconomics relevance to government
need to know the economic situation in order to create policy to manage the economy and achieve their macroeconomic objectives
GPD
Gross Domestic Product
the main measure of economic growth
Measures the total value of all goods and services produced in an economy each year
Measured in $ terms (usually USD)
Includes
household spending (consumption)
Business
Government spending
Inclusions
re building after a natural disaster
weapons production
unhealthy production (tobacco, junk food, etc.)
production of pollutants such as coal
Exclusions
volunteer work
caring for family work
house work
leisure time
environmental quality
many important wellbeing factors
__________________________________________________________________________
GDP is a measure of money - nothing else
Inflation
An increase in the level of prices of the goods and services that households buy
measured in the rate of changes of those prices
Consumer Price Index (CPI)
A quarterly measurement of the prices of around 100 000 commonly used goods and services that shows the changes in prices
Causes of inflation
Consumer Activity
Rising demand
Increasing costs
Chain reaction
Monetary policy
the manipulation of interest rates by the Reserve Bank of Australia (RBA) to influence the price levels and level of economic activity in the economy
Fiscal Policy
the manipulation of government spending and taxation to influence the level of economic activity in the economy
economic growth
an increase in the value of the goods and services produces by an economy over time. It is usually measured as a percentage change in real GDP
Cyclical unemployment
Occurs when the level of spending in the economy falls
i.e a business is making fewer sales, so they cut employees
Boom/peak
Economic growth and general activity is above average
High consumption expenditure
high output/production
low unemployment rates
high levels of business profits
confidence throughout the economy (Business and consumer)
Above target inflation rates
why must economic growth be controlled
strain natural resources
increase inequality
Unemployment rate formula
Number of unemployed people ÷ labour force
Sustainable economic growth range (GDP)
2-4%
RBA inflation target
2-3%
Unemployment
4-5%
Inflation rate (annual %) formula
CPI this year - CPI last year ÷ CPI last year
Real GDP
A measure of a country’s gross domestic product that has been adjusted for inflation
Structural unemployment
Occurs to changes in the way goods and services are produced, leading to a mismatch of skills
eg. AI taking over
Major causes
automation + outsourcing
Disproportionately affect lower paid and lower skilled jobs
Contraction
Due to the negatives caused by booms (inflation) the government puts in place contractionary economic policy to reduce the level of activity
Fiscal policy
increasing taxes and/or spending rate
Monetary policy
increasing official interest rate
decrease in spending, investment, profit and confidence
unemployment will rise and inflation will drop
Happens quickly
Seasonal unemployment
Results from the termination of jobs at the same time each year due to the regular change in season
eg. someone working as a fruit picker, ski lift operator etc.
what is macroeconomics and why is it studied
Macroeconomics
the study of the economy as a whole
the total aggregate level of economic activity (production, expenditure and income)
Analysing data about the state of the economy means that we can identify problems and their courses and create strategies to deal with or prosper from them
Real wages
income expressed in terms of purchasing power as opposed to actual money received
in regards to inflation
Frictional unemployment
Unemployed between one job and another or entering the work force for the first time
small amount of frictional unemployment is important because it means that people are seeking opportunities and are able to change jobs if they wish
Trough
Economic activity ‘bottoms out’ sometimes bringing a recession
low levels of consumption expenditure
low levels of output/production
low levels of inflation
increase levels in savings
low consumer and business confidence
highest unemployment rates
The govt. will usually bring about expansionary policy to boost the levels of economic activity to start an upswing
why economic growth matters
it changes the overall quality of life of a person
produces enough goods + services
improves quality and variety of goods
creates job opportunities
raising living standards
Effects of high inflation
decreased purchasing power for consumers
increases in interest rates
worsening income inequality
Business cycle
the regular fluctuations in economic activity over time. It is categorised with distinct phases (peak, contraction, trough and expansion) and is measured in GDP unemployment
Dash line
what the government would ideally like to happen based off fiscal and monetary policy
Trend line
average growth over time
Why is GDP important
gives us a snapshot of the economy
this years vs previous years
businesses
who to hire and if they should hire or fire more people
consumers
jobs to choose/move to, what to buy and from where
government
adjusting taxes
Upswing/expansion
during a trough, the government will put expansionary policy in place to start an upswing
Fiscal policy
decrease taxes and/or increasing spending
Monetary policy
decreasing the official interest rate
Can take time but we know it is working when we see GDP and inflation start to increase back into its targets as well as a decrease in unemployment
Recession
a period of two successive quarters (six months) of negative GDP growth
how does unemployment rate relate to economic growth
a high unemployment rate = a decrease in economic growth and leads to an overall lower standard of living for the population
a low unemployment rate = an increase in economic growth and leads to an overall higher standard of living for the population