General Thoughts: Economics

[mickstarify]

I thought that the multiple choice and short answers very easy. But I found the essays pretty difficult... I would have much preferred last years. Last year it was like "monetary policy effect on inflation and unemployment" sooo much easier than the stupid easy question saying effectiveness of policies on economic objectives :| could have written a whole report on that crap haha

I agree, but for me, one of my school assessments was to evaluate Labor's 2012 budget. So i had plenty of knowledge regarding policies & government objectives

had a whole page on the carbon tax lol

 

[Ana Jovanovic]

Awks look like i struggled in the extended responses... i bullshitted alot but still probs wont get a decent mark for them D:

Haha don't worry I found the extended response quite difficult too... especially the economic objectives one.. too much to say

 

[Ana Jovanovic]

I agree, but for me, one of my school assessments was to evaluate Labor's 2012 budget. So i had plenty of knowledge regarding policies & government objectives

had a whole page on the carbon tax lol

Haha that's good . I didn't know where to start... and it was taking up so much time but I didn't want them to take marks off me if I didn't include one of the major policies like fiscal or monetary :S. So I really didn't like that question haha.

 

[Ana Jovanovic]

Does anybody know what raw mark you would need in that exam to get a low band 5? Thanks

 

[rselvage]

Does anybody know what raw mark you would need in that exam to get a low band 5? Thanks

considering the "ease" of the test - probably looking at 78 or 79 to get ~ 81/2 out of 100

 

[sachindhingra]

facking peanuts

 

[gabtran]

LOL last year's cut off was 84

 

[ahdil33]

facking peanuts

Fucking easiest shit I've ever seen. Think I screwed up the second essay though, will be very disappointed if raw is below 94.

 

[freeeeee]

Q18 answer is $2, subsidy is measured by the vertical line distance between the supply curves

 

[school4nerds]

Yes i did.
Essay 25 i done this.

Talk about changing industry production.
- Moving away from manufacturing
- Moving away from Agg.
- due to the GLOBALISATION PROCESs
- removal of import tarrifs
- introduction of FTAs, SEATO
- Importance of WTO in promoting trade
- Talk about how that effects COMPARATIVE ADVANTAGE & OPPORTUNITY COST

Then refer to china Growing population and how they are sourcing us for education (for our eduction)
Education industry grow

More efficient Mining industry

and less based instudies under threat due Asian countries becoming more specialised and our appreciated exchange rate

i pretty much wrote the same things! except for it was for q26 haha

 

[Bloodstriker]

considering the "ease" of the test - probably looking at 78 or 79 to get ~ 81/2 out of 100

Even if it is an easy test, the raw mark will up like 3 or 4, 81 will get you had a high band 6 in this exam at least..

 

[Bloodstriker]

considering the "ease" of the test - probably looking at 78 or 79 to get ~ 81/2 out of 100

Even if it is an easy test, the raw mark will up like 3 or 4, 81 will get you had a high band 5 in this exam at least..

 

[Anonym0us]

I think I lost 10marks for the q25 essay...
I had hopes for a band 6 but that has died

 

[Anonym0us]

What did every1 get for the MC question on I+G+X=S+T+M?

 

[ahdil33]

What did every1 get for the MC question on I+G+X=S+T+M?

The answer was budget in a surplus, B.

 

[Robbo101]

Way to easy, probably could have gotten a similar result on a harder test as i think i'll just have made stupid mistakes.

Anyone know what a model answer should have been for the women question though?

 

[Rawf]

The answer was budget in a surplus, B.

Yep, the budget was in surplus.
Was anyone stupid like me that they figured out the economy was equilibrium and was trying to look through all the MC answers to find an 'equilibrium' option?
LOL I was just like.. omg wtf wheres equilibrium?!?! but then I realised it's just G<T -___-

 

[Washy_182]

Way to easy, probably could have gotten a similar result on a harder test as i think i'll just have made stupid mistakes.

^100% my feeling.

 

[gamilt]

not sure how much terminology is needed for s/a for questions like the inflationary expectations, and btw what was that question about economic costs and benefits?

 

[NesTea]

was much too easy for an economics paper imo, there's likely going to be 100% raw marks from the very few at the top of the state unless they mark harshly to counteract the lack of difficulty in the questions