Australia 2022

Macro outcomes A simple projection of current trends is that in ten years Australia’s population will reach 26.3 million, GDP in nominal dollars will be just short of $2.5 trillion (and in today’s dollars a round$1.8 trillion), and GDP per head in today’s dollars will be $68,400 compared to$59,000 now. There will be 13.34 million employees. Nominal net wealth will have increased by three quarters to $14 trillion – on average, half a million dollars each. In this projection the apparently inexorable growth of net foreign liabilities as a share of GDP over the last thirty years stabilises around the current ratio of 60 per cent of GDP. Over the decade Australian average living standards will probably have improved a little against those of Americans or Europeans or Japanese, though not against those of Chinese, Indians or Brazilians. These outcomes are well within reach. An unremarked but startling fact about Australia today is that the economy is in many respects performing rather better than it has for a half a century. To attain the outcomes described above we need GDP to increase on average by 3 per cent a year, the workforce by 1.5 per cent a year, and labour productivity by 1.5 per cent a year. Each of these outcomes is less than the average annual increase over the last two decades. With the exception of productivity, which has averaged 1.3 per cent over the last decade, these average outcomes are also below the average outcomes for the last decade

Using information technology to help business students learn about contract law

This paper describes continuing work in using information technology (IT) to help Business students learn about contract law. The approach adopted uses a model of the contracting process as being one of negotiation, where the decisions made by the parties involve the acceptance or rejection of certain risks. Normal discussion tutorials are therefore replaced by a role‐play exercise in which students learn by taking part in simulated negotiations, each interested party being represented by a team of students. IT is being introduced into the learning process, both to provide decision‐support for the student teams, and to improve the mechanics of the exercise

Writing masters and accountants in England – a study of occupation, status and ambition in the early modern period

The purpose of this paper is to address the lack of knowledge of the accounting occupational group in England prior to the formation of professional accounting bodies. It does so by focusing on attempts made by the occupational group of writing masters and accountants to establish a recognisable persona in the public domain, in England, during the seventeenth and eighteenth century, and to enhance that identity by behaving in a manner designed to convince the public of the professionalism associated with themselves and their work. The study is based principally on early accounting treatises and secondary sources drawn from beyond the accounting literature. Notions of identity, credentialism and jurisdiction are employed to help understand and evaluate the occupational history of writing masters and accountants. It is shown that writing masters and accountants emerged as specialist pedagogues providing expert business knowledge required in the counting houses of entities which flourished during a period of rapid commercial expansion in mercantilist Britain. Their demise as an occupational group may be attributed to a range of factors amongst which an emphasis on personal identity, the neglect of group identity and derogation of the writing craft were most important.history ; accountants ; bookkeepers

Computational aeroelasticity challenges and resources

In the past decade, there has been much activity in the development of computational methods for the analysis of unsteady transonic aerodynamics about airfoils and wings. Significant features are illustrated which must be addressed in the treatment of computational transonic unsteady aerodynamics. The flow regimes for an aircraft on a plot of lift coefficient vs. Mach number are indicated. The sequence of events occurring in air combat maneuvers are illustrated. And further features of transonic flutter are illustrated. Also illustrated are several types of aeroelastic response which were encountered and which offer challenges for computational methods. The four cases illustrate problem areas encountered near the boundaries of aircraft envelopes, as operating condition change from high speed, low angle conditions to lower speed, higher angle conditions

Current status of computational methods for transonic unsteady aerodynamics and aeroelastic applications

The current status of computational methods for unsteady aerodynamics and aeroelasticity is reviewed. The key features of challenging aeroelastic applications are discussed in terms of the flowfield state: low-angle high speed flows and high-angle vortex-dominated flows. The critical role played by viscous effects in determining aeroelastic stability for conditions of incipient flow separation is stressed. The need for a variety of flow modeling tools, from linear formulations to implementations of the Navier-Stokes equations, is emphasized. Estimates of computer run times for flutter calculations using several computational methods are given. Applications of these methods for unsteady aerodynamic and transonic flutter calculations for airfoils, wings, and configurations are summarized. Finally, recommendations are made concerning future research directions

Short and Long Run Decomposition of OECD Wage Inequality Changes

This paper focuses on the decomposition of increased wage inequality in OECD countries into the component factors of trade surges in low wage products and technological change. It argues that if the observed wage inequality response to price and technology shocks represents a short run response in which factors and output have not adjusted fully across industries, then decomposition analysis is substantially altered relative to a long-run factors mobile world. This applies either when one type of labour has mobility costs or where there is an additional, sectorally immobile factor. Only small departures from the fully mobile model can greatly change decompositions. Previous general equilibrium based studies have assumed a long-run full mobility response, when this may not be the case, and may consequently have drawn incorrect conclusions.Trade, wages, technology, inequality.

Short and Long Run Decompositions of OECD Wage Inequality Changes

This paper focuses on the causes of increased wage inequality in OECD countries in recent years and its decomposition into the component factors of trade surges in low wage products and technological change that has preoccupied the trade and wages literature. It argues that the length of production run and degree of fixity of factors is crucial in such analyses. In particular, if the observed wage inequality response to price and technology shocks reflects a short-run response in which factors and output have not adjustedfully across industries, then decomposition analysis of the causes of the observed increases in inequality is substantially altered relative to a long-run factors mobile world. This conclusion applies both when one type of labour has mobility costs and in the Ricardo-Viner case where there is an additional, sectorally immobile factor. Furthermore, only small departures from the fully mobile model can greatly change decompositions. This finding is important because most data used in earlier work are interpreted as reflective of a long-run full mobility response, when this may not be the case. Incorrect conclusions as to how trade surges and technology contribute to wage inequality can be easily drawn, if the data are in fact generated by a short-run adjustment process.

Radiation transport and short pulse interaction in laser irradiated targets

Imperial Users onl

Redshifted Absorption at He I 10830 as a Probe of the Accretion Geometry of T Tauri Stars

We probe the geometry of magnetospheric accretion in classical T Tauri stars by modeling red absorption at He I 10830 via scattering of the stellar and veiling continua. Under the assumptions that the accretion flow is an azimuthally symmetric dipole and helium is sufficiently optically thick that all incident 1-micron radiation is scattered, we illustrate the sensitivity of He I 10830 red absorption to both the size of the magnetosphere and the filling factor of the hot accretion shock. We compare model profiles to those observed in 21 CTTS with subcontinuum redshifted absorption at He I 10830 and find that about half of the stars have red absorptions and 1-micron veilings that are consistent with dipole flows of moderate width with accretion shock filling factors matching the size of the magnetospheric footpoints. However, the remaining 50% of the profiles, with a combination of broad, deep absorption and low 1-micron veiling, require very wide flows where magnetic footpoints are distributed over 10-20% of the stellar surface but accretion shock filling factors are < 1%. We model these profiles by invoking large magnetospheres dilutely filled with accreting gas, leaving the disk over a range of radii in many narrow "streamlets" that fill only a small fraction of the entire infall region. In some cases accreting streamlets need to originate in the disk between several stellar radii and at least the corotation radius. A few stars have such deep absorption at velocities greater than half the stellar escape velocity that flows near the star with less curvature than a dipole trajectory seem to be required.Comment: 26 pages, emulateapj format, Accepted by ApJ, to appear 2008 November 1