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General Thoughts: Economics (1 Viewer)

Smooth Operator

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what topics were the short answer on?
Monetary and Fiscal 5 or 6 marks.
Current Account and Capital and Financial Account and Interest Rates.
Protectionism.
Exchange rates and TWI.

I can't be bothered remembering more haha.
 

photastic

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can u please remind me of a few questions on unemployment
im not sure if i missed that part
Questions were about the decline in the labour force participation rate, distinguish working age population and labour force.
 

jer3m

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In case anyone was wondering one of the guys who did the test asked his teachers for all the answers and these are the correct ones, its in the other thread but might as well put it if anyone wants to know
1: A
2: B
3: D
4: B
5: C
6: C
7: B
8: C
9: D
10: A
11: D
12: B
13: D
14: A
15: A
16: C
17: D
18: A
19: B
20: C
 

photastic

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In case anyone was wondering one of the guys who did the test asked his teachers for all the answers and these are the correct ones, its in the other thread but might as well put it if anyone wants to know
1: A
2: B
3: D
4: B
5: C
6: C
7: B
8: C
9: D
10: A
11: D
12: B
13: D
14: A
15: A
16: C
17: D
18: A
19: B
20: C
17 and 19 were the hardest tbh.
 

RivalryofTroll

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Exam was marginally harder than last year. The multiple choice required a few calculations, short answers was ok, had a 6marker on the limitations of fiscal and monetary in an economic slowdown.
Q25 was on labour market policies and fiscal policies addressing income and wealth inequality.
Q26 was on inflation
Q27 was on using an economy other than Australia and the economic strategies they use for economic growth and development
Q28 was on role of government in achievig environmental sustainabily.

Comparing qIV to last years, students were tested on topics that they may not have prepared for very well.

If the general consensus if that this years paper is harder, what would the b6 cutoff be?
Drifting's predictions are pretty much all agree-able and I'd trust his predictions more than my own :haha:

But my personal predictions anyways...

TOPIC 1 ESSAY TOPIC
- Positive/negative effects of globalisation on the global economy.
--> Potential curve-ball - causes and effects of inequality in the global distribution of income and wealth.

TOPIC 2 ESSAY TOPIC
- Impact of recent changes in the global economy on Australia’s trade and financial flows AND/OR structure of industry. (i.e. structural change)
--> Potential curve-ball - effects of changes in trade and financial flows on Australia’s economic performance (combines topics 2 and 3)

Rationale - Balance of Payments and Exchange Rates have been covered in the past 2-3 years.

TOPIC 3 ESSAY TOPIC
- External Stability
--> Potential curve-ball - Environmental Sustainability

TOPIC 4 ESSAY TOPIC
- Micro policies
--> Potential curve-ball - Labour market policies or perhaps even... environmental policies

But predictions are only predictions. Just study everything guys :haha:
My predictions were off by a mile :haha:

Though, some of my potential curveballs were right.

Labour market policies.

Also, environmental sustainability and the role of government is essentially ENVIRONMENTAL POLICIES.

So seems like there's no essay for topic 2?

Inflation and case study I didn't expect.

Was gooooood. That case study q though. (even though RoT predicted it was unlikely to appear xD)
Did I? Well I think I agreed with Drifting that the case study was unlikely. But guys, like you all know - predictions aren't always going to be right :haha: In fact, economists themselves aren't always the best predictors :p

Okay I am having a go at MC, will post my answers in http://community.boredofstudies.org/1121/economics/329783/ask-mreditor16.html

However, disclaimer in advance - I haven't touched my textbook in 12 months. so it is highly likely - I might get an answer wrong. so please raise any issues with me, and I'd love to discuss. :)
*likes*
 

Beterban

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hey for q15, doesnt decreased business profits lead to unemployment, which lead to lower incomes, which lead to more unequal income disribution
 

sw

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what do you think is the highest mark attainable for each long response if you didnt draw any graphs and only wrote 5-6 pages?
 

BiasedBuffalo

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I thought that was a pretty good exam. I made a few stupid mistakes in the multi choice (18/20) but otherwise it was fine.

I ended up doing the labour/fiscal essay + environment. I suspect that's not a popular combo :(
 

sw

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Did you put B? i put B and apparently its wrong
 

jer3m

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the names of local content rules and export incentives already give it away
I didn't think it was too hard I thought it was in the syllabus to learn them. Just to clarify, export incentives are pretty much incentives given to exporters in order to make them increase supply and local content rules refer to producers having to use a certain amount of local produce to produce their product
 

jer3m

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I thought that was a pretty good exam. I made a few stupid mistakes in the multi choice (18/20) but otherwise it was fine.

I ended up doing the labour/fiscal essay + environment. I suspect that's not a popular combo :(
I did that. 95/100 people did the enviro essay and I think the inflation/inequality is maybe a 50/50 tbh
 

jer3m

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what do you think is the highest mark attainable for each long response if you didnt draw any graphs and only wrote 5-6 pages?
Not really many graphs you could draw anyway... But 5-6 pages is good. You can get a 20/20 with 4 pages of normal writing. Thats a fact. I don't see why you can get a 18 or so
 

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