How to tackle stimulus??? (1 Viewer)

[HSCsimulator]

like guys i was lookin at last years paper and it had stimulus

"Analyse the impacts of macroeconomic and microeconomic policies on the economic performance of the Australian economy"

(table of some info)

(table of facts)



how do you guyz approach these questions because i really havent really done these stimulus before, i remember our teacher mentioned it but u no

and how do you "analyse" questions like this

 

[Sparcod]

like guys i was lookin at last years paper and it had stimulus

"Analyse the impacts of macroeconomic and microeconomic policies on the economic performance of the Australian economy"

(table of some info)

(table of facts)



how do you guyz approach these questions because i really havent really done these stimulus before, i remember our teacher mentioned it but u no

and how do you "analyse" questions like this

Ahhh!! This takes me down Memory Lane. (I had trouble finding it on the map though)

How should you use stimulus material such as graphs and stats?
It is not necessary to use every number that is listed there but however some should be incorporated into your essay to support your argument.

Through the mentioning of stats, there is a need for you to comment on the trends in stats (as years go by) as well as any correlations or causations suggested by the implementations of micro/macro economic policies.

E.G contractionary monetary policy has aided in reducing economic growth and increasing unemployment in 1990.

I usually saw the stimulus as soe sort of a 'guide' to either:
-provide statistics for which I can use (as evidencial support)
-explain the statistics and provide basis for my argument in the essay

Good luck!

 

[HSCsimulator]

thank you, so do i say something like "... .. .... and inflation is 2%, as seen in the stimulus"

 

[Sparcod]

I don't think there's a need mention "from the stimulus". There's no need to provide a source for your statistics used.

 

[Conspirocy]

depends on the stimulus and the question obviously

but a quick hint is if the data is on a time basis then you should talk about the change

is the trend upward sloping eg.

Jan-Mar 2.00
Apr-Jun 3.00
Jul-Sep 4.00
Nov-Dec 5.00

Downward sloping e.g.
Jan-Mar 5.00
Apr-Jun 4.00
Jul-Sep 3.00
Nov-Dec 2.00

Is there a turning point, that is a break from the trend

Jan-Mar 2.00
Apr-Jun 3.00
Jul-Sep 4.00
Nov-Dec 4.00
Jan - Mar 3.00
Apr-Jun 2.00

is this change persistent

then you need to analyse what you are looking at.

inflation in australia would be expected to be stable and in between 2-3% on average over the cycle
you could be looking at the balance of goods and services, so then an upward positive trend means we are exporting more/importing less, a downward sloping trend would mean we are importing more/exporting less (note for both this could be in value or volume)
unemployment - so then unemployment could be growing/falling

the key here is if the data has a turning point, i.e. a change in the trend then you should definetly spot that and comment on it. things to consider:
- what possibly caused it (perhaps a policy macro or micro)
- is it temporary or reflecting a long term shift

sometimes the stimulus will be a quote, then you should kinda make a reference to it agree disagree or remain netural and say either or depending on the key word from the question. generally the quotes are a guide as stated

 

[HSCsimulator]

oh ok. thanks for all your advice guys! :wave: