Sections III, IV : Extended Response (1 Viewer)

[Rafy]

Post your thoughts on the 4 extended response options. (questions 25-28.)

How did you go? Which 2 questions did you choose?

 

[Sparcod]

26/27

LOL nobody did 28- ESD is not economics.

They were quite understandable.

 

[Riviet]

I chose the environmental question

Hopefully it'll stand out from others that chose the exchange rate one.

 

[arkanisw]

Post your thoughts on the 4 extended response options. (questions 25-28.)

How did you go? Which 2 questions did you choose?

I generally write out the points first on the paper before i write it in the booklet, so here goes:

26:

1) Intro to macro/micro crap
2) Macro: describe fiscal
3) Keynesian economics/multiplier effect
4) counter cyclical, sustained GDP
5) Monetary policy description
6) inflation targeting
7) ER stability (dirtying the float)
8) micro policy description
9) drop protections, technical/allocative efficiency
10) deregulate labor market, occupational mobility
11) conclusion

with a diagram here and here.

27:
1) define ER
2) Causes of demand: speculation, investment
3) tourism and special events, export demand,
4) demand causes appreciation
5) inflation goes down
6) ToT goes up
7) valuation effect on CAD
8) import revenue increase for elastic demanded goods
9) export revenue decrease due to lower competitiveness
10) investment in flow, worsen CAD
11) speculation and ER volatility
12) RBA response to slow down appreciation
13) side effect of RBA's response
14) conclusion


even though i have more points for 27, i actually wrote more for 26, taking up the entire booklet, but one page left for 27



anyway, that's how I did it, i think i went better for the 26 than 27. damn i screwed up 27

 

[fullyoverschool]

I did Q 25 and 28, because really, 1. they are easier and 2. i just didnt feel like talking about ER or Macro/Micro . For 25 i just talked about all the different trade agreements, and the problems, and then the problems with the different negoiation rounds etc. For 28 I just made stuff up, bullshitted it. But honestly, its so easy you could work it out with general intelligence (no offence meant).

When one of the boys in our class complained that environment economics was stupid and didnt relate, you should have seen the teacher. He was livid. I stuck up for it though, i found it fascinating (but then again, so is the entire subject). Eco is my best subject. Even then, im in the bottom half of the class, but the class is so good thats no shame. He expects us all to get min high band 5 if not band 6. Tough teacher, pushes us heaps, but we are a really stong group, so even if someone stuffs up, the class will help lift them up.

So a bit off topic there, but yes, i didnt mind this at all. I thought it was good. Nice choices with plenty of variety.

 

[Benmc]

I did Q26 (micro/macro) and Q27 (exchange rates) and just bullshitted about them for 7 and 6 pages respectively.

 

[lil_georgie_gal]

I did question 25 as it was much easier than 26 i didnt wanna talk bout the whole of module 4 in my essay hence i chose q25 and i did 27 caue i knew not enough detail for the evnironment quest.

SO HAPPY THIS IS OVER!!!! NO MORE ECO EVER@!!!!

 

[felix the cat11]

ditto ben, 13 pages of everything i could think of about ecoomic policy

 

[Loz_metalhead]

ditto ben, 13 pages of everything i could think of about ecoomic policy

Same. I did nearly 13 pages. I really panicked...had about 30mins...how much did you relate it to the performance of the economy?

I talked about DMO-price stability...inflation is a restraint on eco growth
Put in a phillips curve and explained..said thats why unemployment decreased and inflation increased(from table)

Fiscal-I think only eco growth, the CAD and foreign debt...deficit would cause crowding out.

micro-Labour policies...it was all a big mess...protection sort of...reduce imported inflation...competition policy for allocative efficiency.

I think I only got about 15 or 16 out of 20. The question was so open and I don't think I included the right info

Exchange rate question I did 10 pages but kinda screwed it up. I didn't even have a graph...how stupid. I got 92 in the trial and now im expecting really low 80's.

 

[TNguyen]

lol u know how we gota choose one from section 3 and 4 right..... do u reckon there's a loophole in the system where someone could just write two copies of the same essay since the papers go to different people to be marked? lol

 

[laurenjean]

i chose the ESD and macro/mirco.

did the ESD first and was fairly happy, threw in some graphs about market failure etc.. but then proceeded to write the macro/micro essay and sooo did not leave myself enough time. it was rushed and a mess but i got out most of the stuffy. i was pretty happy with the rest of the paper. hope i did ok!

 

[passion89]

I did macro/micro and exchange rate. 26 & 27.

Quite good essay questions

 

[wce06]

27:
1) define ER
2) Causes of demand: speculation, investment
3) tourism and special events, export demand,
4) demand causes appreciation
5) inflation goes down
6) ToT goes up
7) valuation effect on CAD
8) import revenue increase for elastic demanded goods
9) export revenue decrease due to lower competitiveness
10) investment in flow, worsen CAD
11) speculation and ER volatility
12) RBA response to slow down appreciation
13) side effect of RBA's response
14) conclusion

Import revenue??

Does an appreciation not discourage foreign investment in Australia? Given that foreign based MNCs etc have to pay more in their currency to expand plants/production in Australia.. An appreciation actually helps the CAD in this way, as it reduces the servicing costs of foreign investment. Also, CAD is helped through dramatic reduction in debt principle and servicing costs (60% of our NFD is denominated in foreign currency).

 

[silentprayer]

omg im so happy i thought of rba's dirtying float while i was writing the essay.. hehe never thought of it when i was planning

 

[Rekkusu]

Whoa all you 2006'ers are so lucky!! I mean our Eco Year was ecstatic when Work Relations, etc came out....Now in 2006 Australia's Economy is even more muddled with so many consecutive rate rises.

Anyway, RBA raised IR 25 points again yesterday, for any Eco-addicts here.