Assignment:
1. Discuss what is the product/service referred to in the report? Is the product elastic or inelastic?
2. What is the supply demand and market like for this product/service?
3. What are the possible substitute and/or complementary products for the one mentioned in the report?
4. Are the Positive or Normative statements mentioned anywhere?
5. Do you observe any indication of shift in demand/supply and in what point do you believe the equilibrium happens?
6. What is the influence of tax on the product/service?
7. Surplus/shortage of the product/service in International education in South Australia.
8. When appropriate provide appropriately labelled graphs for above questions.
International education in South Australia
The international education and training sector refers to:
• Onshore international students on student visas enrolled with South Australian institutions
• Visiting friends and relatives (VFRs) who visit South Australia for the primary purpose of visiting an international student studying in the State.
In 2015, 32,100 onshore international student enrolments in the South Australia spent $1.2 billion on education fees, and other goods and services, including accommodation, groceries, and other food and beverages. International education is South Australia's largest services export and trails only behind iron ore & concentrates, wheat, copper, and alcoholic beverages overall (Department of Foreign Affairs and Trade, 2014).
The international education and training sector in South Australia contributed $954 million in total value added, and sustained a workforce of 7,536 full-time equivalent (FTE) jobs in 2015. This represents 1.0% of the Gross State Product and 1.1% of the State workforce. This includes both its direct contribution within the education and training sector, as well as its indirect contribution more broadly through other sectors of the State economy through supplier linkages. The flow-on contribution from international education and training that takes place in other jurisdictions to South Australia is not included in this figure. Consequently, the results may be different to those reported by The Value of international education to Australia (Deloitte Access Economics, 2016a).
Source:
Department of State Development -SA- (2016) International education in South Australia, Deloitte Access Economics, pp. 1-68.