HSC 2015 Economics Marathon (2 Viewers)

spatula232

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Re: 2015 HSC Economics Marathon

Anyone got any ideas where I can find the % of manufacturing exports from 2000-1? Probs just not looking hard enough but any help would be great :)
 

dathat

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Re: 2015 HSC Economics Marathon

For this question,
Evaluate the effectiveness of regulations compared with market-based policies in achieving environmental sustainability.

Other than talking about how regulations do not spark innovation for new environmentally-friendly production methods whereas market-based do, what else can I talk about?
 

spatula232

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Re: 2015 HSC Economics Marathon

For this question,
Evaluate the effectiveness of regulations compared with market-based policies in achieving environmental sustainability.

Other than talking about how regulations do not spark innovation for new environmentally-friendly production methods whereas market-based do, what else can I talk about?
Wouldn't regulations achieve that as well? It is still requiring a change in business processes, which could in itself lead to innovation... There's still a need for innovation there.

As for the question, I'm not 100% sure. I'd probably go down the lines of regulation forces a shift in behaviour compared to market-based policies providing incentive/disincentive to do so. Regulations I guess would also need to be physically changed with changing economic circumstances, whereas once a market-based policy such as an ETS is established, demand and supply plays out, being market driven (as opposed to that of parliament). I'd also give examples; Carbon Tax vs National Parks or something like that

Yeah, I don't really know
 
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Re: 2015 HSC Economics Marathon

Explain the liquidity of money as the RBA implements market operations in the economy. 3 marks.
What was stated above plus explain how DMOs work - i.e. when the government buys securities, they inject money into the money market, increasing liquidity - lower cash rate because money supply increases
 

matchalolz

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Re: 2015 HSC Economics Marathon

Analyse the impact of two changes in the components of the balance of payments on the value of the Australian dollar and the Australian government's goal of external stability.
 

teridax

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Re: 2015 HSC Economics Marathon

Analyse the impact of two changes in the components of the balance of payments on the value of the Australian dollar and the Australian government's goal of external stability.
mark value?
 
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Re: 2015 HSC Economics Marathon

What are some specific examples of international agreements that have been ineffective in the management of the environment?
 
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Re: 2015 HSC Economics Marathon

Analyse the impact of two changes in the components of the balance of payments on the value of the Australian dollar and the Australian government's goal of external stability.
In the balance of payments, if export revenue exceeds import revenue, then the BOGs will improve and the Australian dollar will appreciate (as the demand for the Australian dollar will be increasing to purchase Australian exports). This appreciation of the Australian dollar will have a positive impact on Australia's external stability. This is because, according to the valuation effect, an appreciation will reduce the value of Australia's debt.

Also, a decrease in financial flows into Australia (due to reduced investor confidence for example) reduce the surplus on the KFA. This reduction in demand for the Australian dollar will cause the Australian dollar to depreciate. The depreciation of the Australian dollar will have a negative impact on Australia's external stability as the value of Australia's foreign liabilities will increase (again due to the valuation effect).

Note: These are only short term impacts on the AUD and X stability
 
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Re: 2015 HSC Economics Marathon

For this question,
Evaluate the effectiveness of regulations compared with market-based policies in achieving environmental sustainability.

Other than talking about how regulations do not spark innovation for new environmentally-friendly production methods whereas market-based do, what else can I talk about?
You could possibly say that since market based policies can be taxes, they generate revenue for the government - and the government can direct this revenue to other solutions to address environmental problems.
 
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Re: 2015 HSC Economics Marathon

Explain how the RBA's inflation targeting contributes to its objective of price stability. 4
 

spatula232

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Re: 2015 HSC Economics Marathon

Explain how the RBA's inflation targeting contributes to its objective of price stability. 4
The RBA's first priority under the RBA Act 1959 (Cth) is to maintain price stability, meaning that they must ensure sustainable inflation. Inflation targeting is the RBA's goal of maintaining inflation between 2-3% over the business cycle, established in 1993 and formally agreed to in 1996 in the First Statement of the Conduct of Monetary Policy. Since the implementation of inflation targeting, Australia has seen sustained inflation within this 2-3% bracket; albeit rising out of the target band with the introduction of the GST and prior to the GFC. By maintaining inflation at this sustained level, they clearly have kept prices stable. Without this inflationary targeting, inflation can reach unstable levels, resulting in the volatility of prices; noted in the 70s and 80s with inflation being >10%. In this way, inflation targeting is central to the RBA's objective of price stability.
 

spatula232

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Re: 2015 HSC Economics Marathon

Explain the possible effects on the domestic economy if domestic inflation is high relative to inflation in other countries. 4

Also, why does an increase in the school leaving age lead to a decrease in UE? I understand that it would decrease the labour force and therefore decrease the participation rate. But if the labour force were to shrink, wouldn't that mean the UE rate increases (since if UE rate = Unemployed/Labour force, a smaller labour force would increase the unemployment rate)?

HSC Answer: "An increase in the school leaving age may result in more young people staying at school and not working or seeking work and therefore not being counted in the labour force or unemployment statistics. This will result in a lower participation and unemployment rate."
Is it just assuming that those people were unemployed prior?
 

Gabriel Moussa

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Re: 2015 HSC Economics Marathon

These last couple of sentences seem very confused. You've suggested productivity improvements will shift the Aggregate Supply Curve, but then you go on to suggest that economic growth occurs here based on increases in consumption and investment, ie a shift in the Aggregate Demand Curve.
add in the idea of non inflationary sustainable growth I think thats the point ur trying to make
 

milkytea99

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Re: 2015 HSC Economics Marathon

Btw, what are you predictions for this year's essay?
 

milkytea99

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2015 HSC Economics Marathon

Depreciation of exchange rate, budget deficit, CAD and Protection

you?
Besides what you have mentioned, I will also bet on fiscal/monetary policy questions and policy mix etc

And my bet is china case study is definitely in short answers this year.

Btw, when you say budget deficit, what kinds of essay question is it? Can you please give an example of budget deficit essay question thanjs
 

teridax

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Re: 2015 HSC Economics Marathon

Besides what you have mentioned, I will also bet on fiscal/monetary policy questions and policy mix etc

And my bet is china case study is definitely in short answers this year.

Btw, when you say budget deficit, what kinds of essay question is it? Can you please give an example of budget deficit essay question thanjs
Something along the lines of "assess the effectiveness of a budget deficit/surplus in addressing Australia's economic climate"
 

Ekman

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Re: 2015 HSC Economics Marathon

Uhhh I think its worth mentioning that Fiscal and Labour market policies have been asked last year. That being said, from what I noticed, previous year essays questions end up being this years short answer.
 

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