Economics - All Articles

The Australian business sector bears a larger share of the social costs associated with illicit and illegal drug use than does government, according to a new report. ... read more

“There’s no such thing as a free lunch.” Many of the obituaries and encomiums published in the days since the death of Milton Friedman in November have wrongly made the claim that he coined the phrase. ... read more

Forty-two years ago Australian crude oil was first delivered to Sydney refineries. That same year BHP teamed with Esso to begin searching for oil and gas in Bass Strait, on the advice of geologist Lewis Weeks. Success there and elsewhere meant that by the late 1980s Australia needed to import less than ten percent of its oil and petroleum products to satisfy domestic demand. ... read more

Y2K, Bird Flu (also known as Avian Flu Pandemic — AFP), what’s the difference? ... read more

Australian health and emergency services authorities recently tested their preparations for a potential Avian Influenza pandemic with the virtual exercise, Operation Eleusis, and business organisations should be following that lead with their own continuity planning. ... read more

Is India the new China? Or even the new India? ... read more

Is the rush towards global abandonment of quotas and tariffs rational or even ethical? Stewart Fist* asks pre-eminent trade economist, professor Murray Kemp. ... read more

When the heat is on to cut prices, use game theory’s strategic calculations to determine sustainable price actions. Lachlan Colquhoun* reports. ... read more

It makes good business sense to understand the shortcomings of traditional economic theory. Debra Maynard reports. ... read more

Robert Marks applies economics-focused game theory to pricing and contract bargaining. ... read more