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Topic outline

• Learning Task 1.7 Discuss the Patterns in Educational Attainment, Employment and Income

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  • Task

    Examine the Australian Bureau of Statistics data and discuss the financial planning implications amongst your peers.

    Learning Outcome

    After completing this task, you should be able to:

    • identify those who are most likely to suffer socio-economic disadvantage in Australia
    • outline the links between educational attainment, employment and income

    Due

    End of Week 1.

    Notes

    This task contains Australian statistics in contrast to the US statistics presented in the textbook.

    Suggested Procedure

    1. Explore the following three data sets from the Australian Bureau of Statistics 2016, Census of Population and Housing: Reflecting Australia - Stories from the Census 2016, cat. no. 2071.0, ABS, Canberra.
       • Socio-Economic Advantage and Disadvantage
         
         • the Index of Relative Socio-economic Disadvantage (IRSD)
         • the Index of Relative Socio-economic Advantage and Disadvantage (IRSAD)
         • the Index of Economic Resources (IER)
         • the Index of Education and Occupation (IEO)
       • Educational Qualifications (in Australia) pdf
         
       • Employment (in Australia) pdf
         
    2. Consider the following questions:
       1. Using ABS data, identify the relationship between education and income.
       2. Using ABS data, outline the characteristics that are associated with socio-economic disadvantage in Australia.
       3. What do we know about the relationships between personal income, gender, age, education, socio-economic background and luck (or chance)?
       4. Can a financial plan support an individual regardless of their background?
    3. Compose a discussion posting which contains your findings.

    
    

    Mark as done

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