How to approach extended responses? (2 Viewers)

[atargainz]

How are you guys planning to approach the extended responses? I've tried both memorising and knowing my stuff and have received similar marks for both. As always extended responses are my weak point, gimme some insight pls.

1) Memorising preprepared essay based off the essay predictions
2) Just knowing your stuff in general and writing it on the day
3) Both

Also, can someone list some important current trends/stats or any relatable events that happened. Thanks

 

[BLIT2014]

http://www.rba.gov.au/snapshots/economy-snapshot/index.html

 

[Untroubled]

I never memorise extended responses for eco.
In my opinion, the key to getting a really high mark for eco extended responses is:
- knowing your theory and how to apply it to real life events and situations
- knowing important statistics
- and using this general essay scaffold that is specific to economics:

Intro
(Define and explain the issue e.g. inflation, monetary policy etc)

Causes/ consequences
( drawing diagrams and then including a discussion on advantages and disadvantages of the economic issue)

Policy response
( what has been done about the issue? and what could be done better?)

I used to memorise and I end up getting 16 always.
Now I use that scaffold taught to me by my teacher and I get 18-19 on average.

 

[aanthnnyyy]

What about linking statistics and current issues, do you guys just place it wherever relevant (e.g talking about the issue -> refer to some trends -> link in some events) or would you guys specifically include current issues such as post gfc and tie it in when you're talking about policy responses,

Sorry if my wording is unclear here !

 

[spatula232]

What about linking statistics and current issues, do you guys just place it wherever relevant (e.g talking about the issue -> refer to some trends -> link in some events) or would you guys specifically include current issues such as post gfc and tie it in when you're talking about policy responses,

Sorry if my wording is unclear here !

Do people actually use stats?

 

[sy37]

yeah whats the point of stats if ur just regurgitating numbers

shows you can memorise

 

[aanthnnyyy]

Do people actually use stats?

I don't have a huge arsenal of stats but I got the basic standalone package (ie. Rba snapshot) and a couple others to tie in with my responses, though these ones are mostly linked with effects e.g 4.25% cut cash rate @ GFC

 

[RecklessRick]

yeah whats the point of stats if ur just regurgitating numbers

shows you can memorise

Shows that you can recognize applications of economic theory in the real world.

 

[teridax]

Shows that you can recognize applications of economic theory in the real world.

would just knowing the key stats suffice or do you also have to know esoteric ones?

 

[Untroubled]

If you aspire to achieve a band 6 level of extended responses in economics, you need to include your own statistics (and not just from the stimulus material) in both essay questions. Statistics in economics are used to simply show changes in trends overtime and to show evidences of key points.
Just like in English where you have to include quotes to support your arguments, you should do the same for economics.
Don't memorise a whole library of statistics, you will definitely need to know the RBA snapshot stats, as they act as the basic foundation to which you will build your explanations upon, and you need a few others for key economic issues that get tested on quite a lot (e.g. macroeconomic policies, MER, B.O.P etc..)

 

[aanthnnyyy]

While we're on the topic of extended responses.
Does anybody feel like eco essays become a timeline when you write or are my just doing something horribly wrong

 

[Untroubled]

While we're on the topic of extended responses.
Does anybody feel like eco essays become a timeline when you write or are my just doing something horribly wrong

Becomes a timeline?
Are you saying that your explanations are in order from oldest time to latest time? (e.g. 1990's to current) or something else?

 

[aanthnnyyy]

Becomes a timeline?
Are you saying that your explanations are in order from oldest time to latest time? (e.g. 1990's to current) or something else?

yeh basically, throughout the whole structure when I talk about different points and integrate e.g. Early 2000s resource boom... GFC... Post GFC... Now

 

[Untroubled]

One of the things that markers look for is whether an essay response has a "sustained, logical and cohesive" structure.
So the fact that you are answering Q's in this format, I think it's fine! I see nothing wrong with it ~in fact, I end up doing the same cause it makes sense to me to answer in this way, since I tend to think in chronological order

 

[Untroubled]

I forgot to mention,
You can mix up the dates/periods, they won't pick on you too much for going mid-2000's to 2014/15 to 1990's, but I think your order is better.
Usually, you should try to be as current as you can and not have too many paragraphs on what has happened pre mid-2000's.

 

[swagmeister]

Yeah, a time based structure can work. Wouldn't recommend it for most question's though, unless you really get one that lends itself to Australia's history

 

[karan96]

how would you guys structure: discuss the causes and effects of external stability in the Australian economy?

what exactly needs to be covered in an external stab essay. I've seen some people say just CAD, NFD, and exchange rate volatility, and then i've seen some people separate it into structural measures (CAD, NFL, NFD) and cyclical measures (ER, ToT, intl comp).

 

[aanthnnyyy]

Yeah, a time based structure can work. Wouldn't recommend it for most question's though, unless you really get one that lends itself to Australia's history

Like labour market reforms?

 

[Untroubled]

how would you guys structure: discuss the causes and effects of external stability in the Australian economy?

what exactly needs to be covered in an external stab essay. I've seen some people say just CAD, NFD, and exchange rate volatility, and then i've seen some people separate it into structural measures (CAD, NFL, NFD) and cyclical measures (ER, ToT, intl comp).

External stability is split into three components : CAD, NFD and exchange rate stability.

Intro: Define external stability and explain what its made up of (the 3 components)

Main body paragraphs:
Here is where you will mention several paragraphs on each 3 components.
- Things to consider talking about : mining resources boom, savings-investment gap as an issue in Australia (which leads to us having to borrow from overseas, worsening NPY section of the current account.
etc

 

[My two cents]

I am a proud rote learner for English but would never rote learn economics as economics there are so many possible essay questions they can ask and Eco punishes you more for not answering the Essay Question: like in English you don't answer the question you can still get 11 or 12, Eco you don't answer the question your looking at 5 or 6.

Also with Eco they are not looking at how sophisticated your responses are but how well do you know the course and can link different parts of the course together