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Melbourne Business School

Melbourne Business School is the University of Melbourne’s graduate school in business and economics, and 55% owned by the business community. It is one of the Asia Pacific region’s top MBA schools and home to Mt Eliza Executive Education, Australia’s No. 1 ranked provider for executive education.

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Diversity is listed at the bottom of priorities for human resources professionals in large firms yet many mangers still feel threatened by diversity policies. www.shutterstock.com

Diversity fatigue: why business still struggles to close the gender gap

Many large organisations are now on their second or third wave of diversity and inclusion programs. A good number of them are still struggling to identify obvious improvements in the metrics they hoped…
The economic cost of Ebola is estimated at around 3% of GDP for Liberia, and this does not take into account human costs. Ahmed Jallanzo/ AAP

The economics of Ebola

Economists are being called upon to estimate the costs of the Ebola epidemic to West Africa and elsewhere. However, economists should also play a part in estimating the likelihood of the disease spreading…
Kindness, humility - and a new approach to regulating monopolies: Nobel Prize for Economic Science, Jean Tirole. AAP/EPA/Studio Tchiz/

Nobel economics prize winner an economist and a gentleman

The winner of this year’s Nobel Memorial Prize in Economic Sciences, Jean Tirole, is one of the most prolific, respected and admired economic theorists of the last 30 years and has had significant influence…
Biases can often be unconscious. Image sourced from www.shutterstock.com

Unconscious bias and its impact on the gender salary gap

Chief executives who don’t care about the gender pay gap or believe that closing it will only increase costs, might want to consider some of the benefits of audits and strategies for identifying and closing…
Australia is striving to lead the G20 growth target - but the truth is the reform needed is hard and painful. Dave Hunt/AAP

Little appetite for painful reform needed to hit G20 growth target

In 2000 in Lisbon the European Union countries met and agreed on the “Lisbon Agenda”. Europe was already lagging in terms of growth and jobs, and it was hoped that the Agenda would “deliver stronger, lasting…
Conflicts abound in Australia’s financial system. Dan Peled/AAP

Three financial system flaws David Murray can’t ignore

At the current frequency of financial system inquiries (Campbell 1982, Wallis 1997, Murray 2014) there will not be another until 2030. That makes this week’s interim report from David Murray all the more…
If you would like to see a large number of desperately poor people enjoy the joy of a World Cup victory, you should cheer for Nigeria. EPA/Rungroj Yongrit

Stuck for a World Cup team? Shoot for the happiness dividend

Let’s be realistic. Australia is the lowest ranked of the 32 teams in the World Cup, and despite a very creditable performance in its first match against Chile, its chances of making it out of the group…
Qantas: out of options? Neuwieser/Flickr

Nothing short of a debt guarantee will save Qantas

Imagine that Virgin Australia was majority owned by a Chinese state-owned enterprise (SOE). Then, if the owners of Virgin tipped A$350 million of new equity into the company to sustain Virgin through a…
The G20 Finance Ministers and Central Bank Governors Meeting concluded with a growth ‘aim’ of 2% above current projections over five years. AAP/Jason Reed

G20 finance ministers agree to growth target: experts react

The G20 finance ministers, who have been meeting in Sydney this weekend, say economic grow is still below the rate needed to get people back into jobs. In a statement released at the conclusion of talks…
ASIC warns: forex currency trading requires a high degree of skill, and consumers should be aware of the risks and potential for loss. Image of finance chart with sell/buy dice from www.shutterstock.com

Gambling on the dollar: time to reign in forex trading

With the value of the Australian dollar falling more than 10 cents in the past few months, should we all be hedging our bets and trading the Aussie for a fast profit? There’s no shortage of foreign currency…
Can - and should - the RBA intervene to lower the Australian dollar? Image sourced from www.shutterstock.com

Intervene or wait? The RBA faces tricky path to a lower dollar

Reserve Bank Governor Glenn Stevens has again weighed in on the value of the Australian dollar, telling a group of economists the bank is open to the idea of intervening to bring its value down. With the…
With only one woman in Abbott’s cabinet, is it time to question the validity of the ‘merit’ argument? EPA Image/Justin Lane

The myth of merit and unconscious bias

The presence of only one woman, albeit a high profile one, in Tony Abbott’s cabinet has prompted renewed calls for the introduction of quotas to ensure greater numbers of senior women in government. And…
US Treasury Secretary Jacob Lew will need to write the book on technical and ethical challenges if no agreement is reached on raising the debt ceiling. EPA/Jim Lo Scalzo

Pressure could mount on US Treasury as debt ceiling closes in

Financial markets must be confident that the US will not default on its sovereign debt, otherwise those markets would have plummeted by now. But is that confidence justified? Markets participants are comforted…
Screen Shot at PM.

No big surprises in the GDP numbers

In the world of macroeconomic data and policy, this is an important week. Yesterday saw the latest monetary policy decision from the Reserve Bank of Australia (RBA), while today the Australian Bureau of…
Under new chief Andrew Mackenzie, BHP’s focus has clearly moved from expansion to cost reduction. AAP

Iron born: BHP steels itself for the future

What are investors who buy BHP Billiton shares buying into? BHP shares are a bet on two things. First, commodity prices and especially the price of iron ore, hydrocarbons and copper. Second, the ability…

Northern Zone a brilliant thought bubble

Kevin Rudd’s proposal for a “northern zone” with low company tax rates to attract businesses has been widely ridiculed in the media as another crazy thought bubble. I think it is a great idea. As long…
Lawrence Summers is a frontrunner to replace Ben Bernanke as US Federal Reserve head; but he is considered controversial. Flickr/Fortune Live Media

Who will be next to head the Fed?

When Ben Bernanke succeeded Alan Greenspan as Chair of the Board of Governors of the United States Federal Reserve in early 2006, macroeconomists were busy trying to understand the “Great Moderation…
Australia’s unemployment is 5.5%. How does that stack up internationally? APH

FactCheck: is our unemployment rate low by world standards?

“Australia has one of the lowest unemployment rates in the developed world.” - Finance minister Penny Wong, The Drum opinion article, 14 January. Several ministers, including finance minister Penny Wong…

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