Economics Competition 2006 (2 Viewers)

[MoonLiteDreamz]

Has anyone applied for the competition this year? I just found out 10mins ago. It sounds like fun! (Tho I stuffed up on the past paper test) x.x

Edit by Without Wings to add information on the Competition:

Economics Competition Information
This is a nationwide competition and tests student's skills of core business studies knowledge and their general knowledge outside the scope of what's taught at school.

You can visit the website: www.studentcompetitions.org to download past papers and read about the details of the competition.

The cost of entry per student is: AUD $4.40 in Australia

Key Dates
Friday, 7 April 2006 - closing date for receiving School Entry forms for the Economics Competition.
Thursday, 18th May 2006 - Official Competition Day for the Economics Competition
August - Schools receive Competitions results.
Thursday, 28th September 2006 - Sydney Presentation Evening at Clancy Auditorium, UNSW

Scope of the Economics Competition
- Knowledge and reasoning of economic theories relevant to the Australian economy
- Application of basic economic concepts, tools and theories
- An understanding of Australia's role in the global economy
- Insights into recent economic developments domestically and internationally

 

[FranzFerdinand]

Someone please expand on this 'competition' please?

 

[chriseddy1234]

The Economics Competition is run by the University of New South Wales like all the other competitions eg, Mathematics, Science. You have 45 minutes to answer 40 or so questions related to Economics (surprise, surprise). If you attempt a question and get it right you get 1 point and if you get it wrong, you and 1/4 of a mark.

 

[Mr. Sabuncuoglu]

when are the entries closing for this "competition"?

I'm guessing its all multiple choice??

 

[FranzFerdinand]

Thank you for the information. =)

I suppose i should just enter next year.

wow.. the past papers seem like basic stuff.

 

[FranzFerdinand]

Oh, that's awesome! ..but surely they're not expecting us to get questions right on topics which we don't learn 'til the HSC course =/ ..because i'll be expecting under 50% >___>

mehh. $4.40 is a good deal =P

(sorry for the two posts in a row thing back then lol)

 

[felix the cat11]

felix is so up for this

 

[Loz_metalhead]

Economics Competition tomorrow

Is your school doing it? Are you going to try and prepare for it?

 

[Sparcod]

I'm doing the eco. comp. I can't see how to prepare for it.

 

[Loz_metalhead]

How did everyone go? I guessed to many...Lol. I only left out 4.

 

[insert-username]

"What is stagflation?" - I guessed that one right. But did anyone get this one? I think I remembered it right, but I'll be peeved if it was "an argument for free trade...."

"Which of the following is an argument against free trade in the long run?"
- The Principle of Specialisation and Comparative Advantage
- Change in the terms of trade
- Change in the distribution of benefits of trade
- Change in domestic production


I_F

 

[Loz_metalhead]

"Which of the following is an argument against free trade in the long run?"
- The Principle of Specialisation and Comparative Advantage
- Change in the terms of trade
- Change in the distribution of benefits of trade
- Change in domestic production

I put- Change in the distribution of benefits of trade

 

[insert-username]

I put that too. It was a real "WTF?" question...


I_F

 

[Sparcod]

"What is stagflation?" - I guessed that one right. But did anyone get this one? I think I remembered it right, but I'll be peeved if it was "an argument for free trade...."

"Which of the following is an argument against free trade in the long run?"
- The Principle of Specialisation and Comparative Advantage
- Change in the terms of trade
- Change in the distribution of benefits of trade
- Change in domestic production


I_F

Stagflation is high unemployemt/inflation?

What's crowdingout effect again?

 

[Riviet]

What's crowdingout effect again?

The crowding out effect occurs when the RBA borrows from the private sector, reducing the economy's pool of savings, putting upward pressure on interest rates. Businesses are then crowded out, as they need borrow from overseas.

 

[vizman]

damn it was pretty hard test for most of the people in yr 11 . i think the yr 12's found it more easier

 

[rev-ise]

I found it ok, went and did all questions, hopefully i don't get too many wrong, oh well, at least it doesn't count towards your HSC. A high destinction or whatever would be nice resume material though...

 

[ari89]

I did this comp last year for prelim economics and some how got a credit. I do not know how considering I ran from one side to the other during a biology practical to do it and when I saw the questions couldn't be stuffed to do it. I was laughing when my teacher gave me a credit certificate...then he tried to convince me not to drop economics for year 12.

 

[AppleXY]

Hi!

My friend (Dr_Doom) has invited to me to this informative board, which I find very helpful for my studies

..I mite b sounding stupid; but is this competition avaliable in Victoria? I'm very interested in Economics due to my interest in the Foreign Exchange market past experience. I'm in Year 10, doing VCE Business Management, and Accounting and Eco next year (school couldn't cater it ) so yeaa... can I do tha test (builds up my knowledge of eco)

 

[AppleXY]

Thanks alot Without Wings Economics is Economics and will not change from country to country lol (actually I've been doing online eco tests on the Board of Studies Website).. i'll ask my next year teacher. thx