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Assessment 1 (1 Viewer)

Rate the choice of the country out of 5.


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HiQuickQuestion

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Well for my assessment for term 4 this year being my first HSC assessment in economies, it is a research task about a foreign economy.
We each had to choose a different economy to do and the order of who gets to pick is randomized on the computer, the countries that were not allowed to be use were china indonesia and brazil, i went with the USA and i hope that it was a good choice and wanted to ask what you guys think about this choice.

Thanks.
 

blyatman

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Mate you picked the best option. That's by far the easiest and easily the most interesting. Why? Because the world economy essentially revolve around it. It's often said that the most powerful weapon in the US arsenal is the USD. You could write several pages on that alone lol. The US economy has become what it is today due to many history-changing events, like the Bretton Woods Agreement, or the Nixon Shock, or the Petrodollar and Saudi Arabia, which more or less allowed American hegemony. If you read into this stuff, it's pretty fascinating, and you realise the amount of shady stuff the Americans did/still do to become the global superpower (not that I'm complaining, and not to mention every country does shady things for further their own agenda). 911 was also a huge economic event, in that the war on terror placed significant restrictions on international banking. The GFC is also probably an easy topic, but it's pretty boring (though you could also go into how this spawned the creation of Bitcoin, which is certainly interesting). The American economy isn't just a study of economics. It's intricately tied with geopolitical and militaristic agendas, which is why it's so interesting. Look at examples today - the sheer power and size of the US economy, and power of the USD, allows it to single-handedly cripple a foreign nation's economy by imposing economic sanctions. Economic events in the US dictate global events.

I never took economics in HS, but I absolutely love learning about the US economy. If you had picked any other country, it would've likely been confined to that country. With the US economy, you have the option of exploring topics that are tied to global economics and geopolitics.

5/5
 
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HiQuickQuestion

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No, don’t get me wrong, i totally understand that the usa at first glance is the best choice since it is the easiest with the most info about it, but at the same time im worried about a couple of things, firstly im afraid of finding dodgy statistics due to so many different sources with a different pile of stats and info for it, meaning i need to be critical in knowing whats right, another thing is i hooe my teachers wont be bias when i mention trumps policies, because as you know people get offended about anything nowadays, last two things worrying me are my teacher’s bias whom i have suspected of bias marking for a while now and last but not least getting marked harshee due to the easiness of the nartiom which i doubt has anything to do with it.

Btw previously adding to one of your points, one of the questions is related to examining the impacts of globalisation on the chosen country’s economic development and growth.

Any tips on how to achieve a high 90+ mark, anyways much appreciated thanks a lot.

Overall im really happy i got to pick it because i reslly wanna do well for it and i just got lucky that the name generator had me at the number 1 pick.

Thanks for the feedback.
 

blyatman

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There's going to be dodgy sources regardless of whichever country you choose. However, you're probably going to find significantly more resources on USA than for any other country, and the statistics are likely to be more reliable given the abundance of resources and information. There's plenty of news articles out there on US economics.

It depends on the nature of the task at hand. Is the question focused on US economics today? Or say, in the last few decades? E.g. For the question relating impacts of globalisation on the US economic development and growth, is that asking you to describe the impacts of globalisation today (in which case you'd mention Trumps policies e.g. trade war), or the impacts of globalisation in the last few deaces that led to US economic development and growth that we've seen today (in which case Trump is irrelevant)?

I'm not the best person to ask on how to achieve high marks in your assignment. I didn't take economics in HS, so I don't know the syllabus or the marking criteria.
 

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