General Thoughts: Economics (3 Viewers)

[malcolm21]

Zzzz I think I woulda got 4/5 cos I didn't explain NAIRU.- because in my answer I assumed we all knew what NAIRU was. Stupid mistakes ffs.

I mean, you kinda had to see there was 0 cyclical unemployment when at the nairu which is the reason for macro not working

 

[rrulez]

Can someone explain question 19 on MC? The answer was B

 

[HecticSandWitch]

Can someone explain question 19 on MC? The answer was B

The headline rate of inflation refers to the rate of inflation where volatile items are included.
Headline inflation is increasing whilst underlying inflation is going down.
Decreased oil production is a volatile shock that could lead to an increase in the headline inflation rate, therefore A is a possible solution.
Flooding in agricultural areas would lead to the cost of fruits and vegetables go up, leading to an increase in the headline inflation rate, therefore B is a possible solution.
Increased tariffs are not volatile, and hence C is not a solution.
Increased oil supply would lead prices to decrease, and hence, D is not a solution.

Now for A, expansionary fiscal policy leads to a rightwards shift in the aggregate demand curve, leading to an increase in the price level in the economy.
Therefore, by a process of elimination, B is the correct answer.

 

[Ekman]

Can someone explain question 19 on MC? The answer was B

If there is an increase in headline inflation, and a decrease in underlying inflation, then it indicates that some volatile good has increased in price which can be due to a rapid decrease in supply. So C and D are auto eliminated, as A and B show the rapid decrease in the supply of a good. A is then eliminated as an expansionary fiscal policy will cause an increase in aggregate demand, which can cause inflation. However underlying inflation has decreased, so A is eliminated. Hence by process of elimination, B is correct. Also another reason why B is also correct is that micro reform aims to increase the productive capacity of the economy without creating inflationary pressures. When you increase the productive capacity, you increase Aggregate supply which decreases inflation. (Btw everytime I refer to inflation on its own, im referring to underlying)

 

[BandSixFix]

http://projectacademy.com.au/2015_HSC_Economics_Solutions.pdf

Eco Multiple choice. RIP and goodluck.

 

[milkytea99]

Actually, BOP/CAD is pretty much the main focus in external stability (there are others, but BOP is a lot of it). Even though it specified "macro policies", you should still explain what BOP and CAD were (and other stuff in external stability) - that would've been the first half of your essay. The 2nd half you'd focus on strategies. (which you should have known had you memorised the ones in the textbook - statistics and stuff can be made up).

Idk, I always saw BOP/CAD in topic 2 the same as external stability in topic 3 since it basically went over the same things.

I ended up doing the trading blocs question

 

[attackallaround]

lol rip, uws here i come.

 

[Ekman]

lol rip, WSU here i come.

ftfy

 

[dathat]

estimate raw mark for band 5 cutoff?

 

[swagmeister]

estimate raw mark for band 5 cutoff?

68

 

[milkytea99]

68

Maybe I might get that lol

 

[swagmeister]

I found the multi choice very skills heavy, nevertheless not very difficult.

Short answer appeared to test parts of the syllabus generally left unstudied.

I found essays were difficult, nevertheless hoping for the best.

thiisssssss

 

[Ekman]

Tfw you realise that forgot to say "refer to stimulus" for section 3. I used the stats, and I barely quoted the quote. *sigh* too late to do anything about it now

 

[malcolm21]

Tfw you realise that forgot to say "refer to stimulus" for section 3. I used the stats, and I barely quoted the quote. *sigh* too late to do anything about it now

fuck i forgot to say 'refer to stimulus' too, hopefully they see the link

 

[edwardjoh2]

Multis wasn't to tricky, shorts was a bit weird/unusual and essays were very predictable the macro on external stability was a stupid question but micro and orgs was pretty straight forward wrote 24 pages of essays

 

[milkytea99]

fuck i forgot to say 'refer to stimulus' too, hopefully they see the link

Can you just write "as seen in the stimulus"? Or "the stimulus shows"? Cuz I didn't write refer at all lol

 

[spatula232]

Can you just write "as seen in the stimulus"? Or "the stimulus shows"? Cuz I didn't write refer at all lol

I'm pretty sure the markers would be able to look at a quote and see it's from the stimulus. And also stats for the graph, they're not gonna mark you down because you didn't write 'refer' lol

 

[swagmeister]

I'm pretty sure the markers would be able to look at a quote and see it's from the stimulus. And also stats for the graph, they're not gonna mark you down because you didn't write 'refer' lol

Did you guys refer to all sorts of different says in the graph? I just focused on mining and services

 

[spatula232]

Did you guys refer to all sorts of different says in the graph? I just focused on mining and services

I did the micro question. I'd stop stressing, nothing you can do now man. Whats done is done

 

[swagmeister]

I did the micro question. I'd stop stressing, nothing you can do now man. Whats done is done

Tru

Besides, I walked out of the exam ridiculously confident