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Economics Student Society of Australia (ESSA) – Welcome!

ESSA logo
Welcome to the Economics Student Society of Australia, more fondly known as ESSA!
So exactly who is ESSA? ESSA was founded in 2012 by a group of friends at the University of Melbourne who love Economics! During our first years of University we knew we loved economics, but had no idea where a major in Economics could take us. And VOILA, ESSA was born.
We are here to help you figure out how Economics can help you. We’re here to provide you with a support network, filled with both students and industry contacts. We’re here to provide you with a contact point to learn more about how Economics impacts you. We’re here to provide you with a forum of discussion.
We hope to provide you with that extra support we craved for when finding our feet at University.
Whether you’re in your first year or your last year, we hope to be a friend to you.
Now, enough about us… what about you? Click on more, go on, you know you want to.

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Struggles of the Australian Retail Sector

Source: Benson Kua

I was watching an episode of one of my favourite political TV shows, The Drum (Mon-Fri, ABC News 24 at 6pm) when Dick Smith was introduced as the program guest. I watched with bewilderment as Smith began ranting and raving – it went something like this:
“(without the GST revenue from electronic retail sales) we won’t have the money to pay decent wages to our nurses…our police, you won’t be able fund the ABC in a decent way, this money is gone forever.”

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Economics is for the People

By Collin Li
When an economic debate descends into something along the lines of “the economy exists in order to benefit the people – not the other way around,” you should reply:
But what is an economy other than many millions of people interacting daily?
Let’s not understate the reach and application of economics – it infects every facet of society.
(By definition in economics, individuals in a marketplace trade according to their “utility” – a term used to capture the personal values of each individual, thus allowing the individuals to maximise their well-being in the marketplace.)

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